NEWARK, Del, May 08, 2023 (GLOBE NEWSWIRE) -- FMI has projected the seaweed packaging market to reach a valuation of US$ 682.1 million in 2023 and expected to rise to US$ 1,224.5 million by 2033, with a significant compound annual growth rate (CAGR) of 6.0% during the forecast period. The seaweed packaging industry is gaining traction due to concerns over plastic waste and the need for more sustainable alternatives.
Seaweed is a renewable resource that can be grown without land or freshwater, making it an eco-friendly packaging option. Seaweed packaging is biodegradable and compostable, making it an environmentally safe option.
Several companies are investing in product development to enhance seaweed packaging's biodegradability characteristics. This trend is expected to continue in the future, leading to new developments and applications for seaweed packaging.
Seaweed packaging has several advantages over standard plastic packaging. It does not contribute to the global concern of plastic waste and is renewable. Additionally, seaweed has natural antimicrobial properties that can help products last longer.
While seaweed-based packaging is still more expensive than traditional plastic packaging, costs are expected to fall as the industry expands and new manufacturing methods are developed.
Get a holistic overview of the market from industry experts to evaluate and develop growth strategies. Download the sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-17137
FMI predicts that packaging films derived from seaweed will become a popular alternative to regular plastic packaging films, acquiring more than 39.1% of market share in 2022. Seaweed-based films are food-safe and may be used to package a variety of products, including fresh vegetables, snacks, and frozen foods, in addition to being environmentally friendly. They can also be tailored to specific packaging requirements, such as moisture resistance or oxygen permeability.
The food sector is expected to acquire 55.1% market share of the seaweed packaging market. Seaweed packaging has enormous potential in the food and beverage industries since it offers a sustainable and eco-friendly alternative to standard plastic packaging. Seaweed-based packaging has several advantages over traditional plastic packaging, including prolonged shelf life, better freshness, and biodegradability.
Europe is a leader in seaweed packaging, with a market share of 36.2% in 2022. The region's emphasis on sustainability and environmental protection, flourishing seaweed industry, and circular economy strategy have contributed to its adoption of sustainable packaging solutions such as seaweed-based materials.
The United States is another prominent market, with a market share of 26.5% in 2022, due to encouraging government policies. The seaweed packaging industry is poised for significant growth, and FMI's research indicates that the future appears bright.
India's population of over 1.3 billion presents a significant market for sustainable packaging solutions, given the growing demand for eco-friendly products. The region is projected to record a 9.4% CAGR during the 2023-2033 period. India's high consumption of plastic has led to increased awareness of plastic waste's environmental impact. With its extensive coastline, the country has a long history of seaweed farming and processing, providing a foundation for a seaweed-based packaging industry.
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report! https://www.futuremarketinsights.com/checkout/17137
Competitve Landscape
Amtrex Nature Care Pvt. Ltd., Apeel Sciences, Coolhaus, Devro Plc, Do Eat, JRF Technology, Lactips, Mantrose UK Ltd., Monosol LLC, Nagase America, Notpla Ltd., and Regeno Bio-Bags are among the key companies in the seaweed packaging market. To strengthen their position in the worldwide bakery premixes market, leading players are focused on tactics such as product innovations, mergers and acquisitions, latest developments, joint venture, collaborations, and partnership.
For example, Kuraray's MonoSol Division announced intentions in November 2019 to expand its operations by building a new manufacturing facility in Poland to address rapidly expanding demand for its water-soluble and biodegradable films. Furthermore, the company confirmed plans to expand manufacturing capacity at its recently completed plant in Lebanon, Indiana, near Indianapolis. MonoSol is a subsidiary of the Tokyo-based Kuraray Group, a global leader in specialty chemicals.
Key Segments Covered in the Seaweed Packaging Market Report
By Product Format:
- Sheets
- Films
- Pouches
- Boxes
- Trays
- Other
By Packaging Type:
- Primary
- Secondary
- Tertiary
By End-Use:
- Food
- Personal Care
- Cosmetics
- Pharmaceuticals
- Healthcare
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
Request Report Methodology @ https://www.futuremarketinsights.com/request-report-methodology/rep-gb-17137
Table of Content
1. Executive Summary | Seaweed Packaging Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Product launches & Recent Developments
3.4. Product Life Cycle Analysis
3.5. Value Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. % of Operating Margin Analysis
3.5.3. List of Existing and Potential Buyer’s
3.6. Pricing Analysis
3.6.1. Price Point Assessment by Region
3.6.2. Price Point Assessment by production
3.6.3. Price Forecast till 2032
3.6.4. Factors affecting pricing
3.7. Forecast Factors - Relevance & Impact
3.8. Regulatory Landscape
3.9. Regional Parent Market Outlook
3.10. Production and Consumption Statistics
3.11. Consumers Survey Analysis
3.12. Macro-Economic Factors
Expand operations in the future - To get requisite details, Ask an Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-17137
Have a Look at Related Research Reports on Packaging
Sustainable Packaging Market Size: The sustainable packaging market is projected to achieve a value of US$ 266.4 billion by 2023, driven by a robust CAGR of 7.2% over the forecast period.
Hermetic Packaging Market Share: The hermetic packaging market is poised to increase at a 4.2% CAGR from 2023 to 2033, acquiring a market value of US$ 5.2 billion by the end of 2033, up from US$ 3.4 billion in 2023.
Electrostatic Discharge (ESD) Packaging Market Growth: The electrostatic discharge (ESD) packaging market is expected to increase from US$ 2.0 billion in 2023 to US$ 3.3 billion in 2033 and is likely to capture a 5.1% CAGR during the forecast period.
Pet Care Packaging Market Trends: The global sales of pet care packaging are expected to reach US$ 15.7 billion by the year 2033. The key reason for this certainty in growth prospects is due to the durability, lightweight, cost-effective, and versatile nature of particularly plastic pet care packaging solutions.
Mailer Packaging Market Demand: The mailer packaging market is capturing a valuation of US$ 26.7 billion in 2023 and is predicted to reach US$ 98.98 billion by 2033. The market is registering a CAGR of 14% during the forecast period.
Paper Packaging Market Analysis: The global paper packaging market is estimated to attain US$ 3,83,867.8 million by the end of 2023. The market is stipulated to witness a decent CAGR of 4.1% between 2023 and 2033, to reach US$ 5,73,705.45 million by the year 2033.
Airless Packaging Market Overview: Increasing demand for airless packaging among numerous cosmetic brands is projected to augment sales of airless packaging. Thus, the airless packaging industry is expected to grow 1.7x he market value during 2023 to 2033.
Biodegradable Packaging Market Outlook: The biodegradable packaging market is projected to bolster with the increasing demand for sustainable and eco-friendly packaging in various end use industries.
Flexible Packaging Paper Market Forecast: The flexible packaging paper market is expected to grow considerably due to increasing adoption of eco-friendly packaging products by consumers. Flexible packaging paper is widely preferred due to its properties such as lightweight, cost-effectiveness and durability.
Beverage Packaging Market Value: The global beverage packaging market is expected to secure US$ 156.7 Billion in 2032 while expanding at a CAGR of 4.1%. The market is likely to hold a value of US$ 104.8 Billion in 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
![](https://ml.globenewswire.com/media/ZWI4NDdjMjEtNDhlNC00YmFkLTg4YjQtZTc4NjY0NjM1YzZjLTEwOTU2NDU=/tiny/Future-Market-Insights-Global-.png)