Dublin, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The "Seaweed Extract: Global Markets" report has been added to ResearchAndMarkets.com's offering.
The global market for seaweed extract was valued at $16.5 billion in 2023 and is projected to grow to $20.9 billion by the end of 2029. The production volume of wet seaweed was estimated to be 38.5 million tons in 2023 and is expected to exceed 43.7 million tons by the end of 2029.
Several factors will drive this growth, including the positioning of seaweed as an alternative protein source, the rising vegan population in Western countries and the increasing popularity of seaweed snacks. Additionally, due to its potential to generate export revenues, seaweed cultivation is drawing government interest and thus also will contribute to this market expansion.
Aquaculture, or farmed seaweed, accounts for over 90% of global seaweed production. The Asia-Pacific region leads the aquaculture seaweed market, while the Americas lead the market for the wild harvest stocks. Consumers prefer cultivated seaweed because there are no traceability issues and the product quality is higher.
The most popular seaweed species include Japanese kelp, Eucheuma seaweed, Gracilaria seaweed, wakame and nori. The production of these species is influenced by factors such as climatic conditions and cultivation methods. Wet seaweed is sold at lower prices, typically from $0.50/kg to $1.60/kg globally. Seaweed can be traded in raw and processed forms, with processed varieties including hydrocolloids like carrageenan, alginates and agar gum.
Seaweed is classified into red seaweed, green seaweed and brown seaweed. Red seaweed is consumed most frequently as it is abundantly available and is used to make alginates and seaweed extract sprays. Red seaweed is cheaper than brown seaweed due to its high supply. The global market for brown seaweed was valued at $9.0 billion in 2023 and is anticipated to grow at a CAGR of 3.7% during the forecast period. The next largest segment, the red seaweed market, was valued at $6.8 billion in 2023 and is anticipated to grow at a CAGR of 3.5% during the forecast period.
Seaweed comes in three product forms: flakes, powder and liquid. The market for the powder seaweed form was valued at $11.5 billion in 2023, accounting for 69.8% of the market share.
Report Scope
This report analyzes the global seaweed extract market. It uses 2023 as a benchmark year and offers projections, along with estimations of compound annual growth rates (CAGR), for the forecast period from 2024 to 2029 and it uses supply side to estimate market size.
This report covers key aspects of the seaweed extract market, including technological advances, economic factors and business considerations, to provide insights into this market. It outlines the market forces impacting the industry and covers the diverse applications associated with seaweed extract. Furthermore, the report surveys the key players operating in the global market for dried and processed seaweeds. It describes the factors driving market growth and examines the regional dynamics that affect the seaweed extract market.
The Report Includes
- 31 data tables and 34 additional tables
- Analysis of the global market for seaweed extracts
- Analyses of the global market trends, with market revenue data from 2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029
- Estimates of the market size and growth forecasts and a corresponding market share analysis by collection, type, form, application, and region
- Facts and figures pertaining to the market growth drivers, opportunities and challenges, emerging technologies, regulations, and the impacts of macroeconomic variables
- Overview of the ESG developments in the global market, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices followed
- An analysis of the industry structure, including the major vendors and their market shares, recent M&A activity, and a venture funding outlook
- Profiles of the major global players, including Cargill Inc., Acadian Seaplants Ltd., Algaia SA, DuPont de Nemours Inc., CP Kelco (part of J.M. Huber Corp.)
Company Profiles
- Acadian Seaplants Ltd.
- Arthur Branwell & Co. Ltd.
- Cargill Inc.
- CEAMSA
- DuPont
- Gelymar
- Groupe Roullier
- J.M. Huber Corp.
- Kelpak
- Ocean Harvest Technology Group
- Ocean Rainforest
- Qingdao Mingyue Seaweed Group
- X-Humate (Tianjin) International
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $17.5 Billion |
| Forecasted Market Value (USD) by 2029 | $20.9 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
- Market Outlook
- Scope of Report
- What's New in the Updated Report
- Market Summary
Chapter 2 Market Overview
- PESTEL Analysis
- Porter's Five Forces Analysis
Chapter 3 Market Dynamics
- Market Drivers
- Expanding Aquaculture Industry
- Rising Demand for Sustainable Ingredients
- More Applications in the Food and Beverage Industry
- Expanding Applications in Agriculture
- Market Challenges
- Regulatory Hurdles and Compliance Requirements
- Supply Chain Vulnerabilities and Quality Control
- Technical and Scientific Limitations
- Market Fragmentation and Competition
- Market Opportunities
- Technological Advances in Extraction and Processing
- Expanding Applications in Pharmaceuticals and Nutraceuticals
- Potential for Biofuel Production and Bioremediation
Chapter 4 Regulatory Landscape
- Market Regulations for Seaweed Extracts, by Country
Chapter 5 Emerging Technologies and Patent Analysis
- Cold Plasma Technology
- Advanced Extraction Techniques
- Enzyme-Assisted Extraction
- Genetic Engineering and Synthetic Biology
- Photobioreactors
- Patent Analysis
Chapter 6 Supply Chain Analysis
- Supply Chain Analysis
- Seaweed Cultivation and Harvesting
- Raw Material Sourcing and Procurement
- Processing and Extraction
- Product Formulation and Development
- Quality Control and Assurance
- Packaging and Distribution
Chapter 7 Market Segmentations
- Market Analysis, by Collection
- Wild Harvest
- Aquaculture
- Market Analysis, by Type
- Brown Seaweeds
- Red Seaweeds
- Green Seaweeds
- Market Analysis, by Form
- Seaweed Flakes
- Seaweed Powder
- Seaweed Liquid
- Market Analysis, by Application
- Food and Beverage
- Agriculture
- Animal Feed Additives
- Pharmaceutical
- Cosmetics & Personal Care
- Other Applications
- Market Analysis, by Region
Chapter 8 Competitive Landscape
- Market Shares of Leading Companies
- Cargill Inc.
- Acadian Seaplants Ltd.
- Algaia SA
- DuPont de Nemours Inc.
- CP Kelco (part of J.M. Huber Corp.)
- Qingdao Gather Great Ocean Algae Industry Group
- Gelymar
- CEAMSA
- Seasol
- Funding for Seaweed Extract and Farming Projects
- Strategic Analysis
For more information about this report visit https://www.researchandmarkets.com/r/bf6m25
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