Global Commercial Seaweeds Market was valued at US$ 13.10 Bn in 2019 and is expected to reach US$ 24.60 Bn by 2026, at a CAGR of 8.20% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Seaweed is a type of macroscopic, multicellular, marine algae, which initiate in oceans and seas across the globe. The hydrocolloids include alginate, agar, and carrageenan, gelatinous substances that are mined from seaweed. Seaweed is helpful to health to fight in contradiction of illness and diseases.
Many countries across the globe have adopted commercial harvesting operations and that is expected to drive the global commercial seaweeds market. An Upsurge in demand for seaweeds as human food and in the production of hydrocolloids such as agar, alginate, and carrageenan, is also expected to boost the demand for seaweeds during the forecast period. Seaweeds are widely used in an array of applications like fertilizers, animal feed, biofuels, and wastewater treatment, which further expected to boost the seaweed industry growth.
The objective of the report is to present a comprehensive assessment of the global commercial seaweeds market and contains considerate insights, facts, historical data, industry-validated market data, and projections with an appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by material, type, end-user, and region and, projects the global market size.
The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global commercial seaweeds market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
The red seaweeds segment is expected to share significant growth in the global commercial seaweeds market. These seaweeds are generally consumed directly in countries includes China, Japan, South Korea, and Indonesia. They are also widely used in the preparation of foods that include soups, salads, and sushi. These seaweeds also find application in other end industries like pharmaceutical and cosmetics, due to their high vitamin, mineral, and antioxidant content.
The red seaweed is a source for carrageenan hydrocolloid, which is exceptionally used in the food industry owing to its enhanced gelling and thickening properties. The red seaweed segment is expected to dominate among the product type segment, owing to the growing demand for agar and carrageenan from the food industry.
The liquid form of seaweeds is projected to grow at a high rate Of CAGR during the forecast period. The liquid form of seaweeds finds in an array of applications such as food, cosmetics, agriculture, and pharmaceuticals industries. They are progressively used in the agriculture sector as fertilizers and soil conditioners owing to their ease of application, which is expected to drive the growth of the global commercial seaweeds market by liquid segment.
The Asia Pacific is expected to share significant growth in the global commercial seaweeds market. This is predominantly attributed to factors like large-scale production and domestic consumption of edible seaweeds in the region, which are driven by the growth of the processed food industry. Additionally, the development of the commercial seaweed market in developing countries such as China, Indonesia, South Korea, and the Philippines is attributed to factors like availability of raw materials, favorable climatic conditions for the manufacture of seaweeds, and availability of cheap labor.
Furthermore, Europe is estimated to share significant growth in the global commercial seaweeds market. The growth in the market is attributed to the higher consumption of red seaweed in the food industry is expected to drive the seaweed market growth in this region.
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Global Commercial Seaweeds Market, by Type
• Red seaweeds
• Brown seaweeds
• Green seaweeds
Global Commercial Seaweeds Market, by Method
• Wild harvesting
Global Commercial Seaweeds Market, by Form
Global Commercial Seaweeds Market, by Application
o Dairy products
o Meat poultry products
o Bakery products
o Confectionery products
Global Commercial Seaweeds Market, by Geography
• North America
• Asia Pacific
• Middle East Africa
• South America
Key players, Global Commercial Seaweeds Market
• Acadian Seaplants Limited
• Biostadt India Limited
• Brandt Consolidated, Inc.
• COMPO Expert GmbH
• Groupe Roullier
• TBK Manufacturing Corporation
• W Hydorcolloids Inc.
• CP Kelco
• Lonza Group Ltd.
• Marinalg International
• Ocean Harvest Technology
• Maine Coast Sea Vegetables
• Ocean Rainforest
• Qingdao Bright Moon Group Co., Ltd.
• Irish Seaweeds
• High Hope Foods Co., Ltd.
• Chase Organics
• GimMe Health Foods
• Annie Chun’s Inc.
• Mara Seaweed
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