According to the report “Commercial Seaweeds Market by Form (Flakes, Liquid, Powdered), by Type (Brown Seaweeds, Green Seaweeds, Red Seaweeds), by Application (Agriculture, Animal Feed, Food, Others), and by Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the Global Commercial Seaweeds Market was worth USD 11.56 billion in 2016 and estimated to be growing at a CAGR of 9.25%, to reach USD 18 billion by 2021.
The Commercial Seaweeds market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the emergence of the market in the developed countries, which has been responsible for gaining interest from various companies.
Seaweed has a popular application as food in various countries all over the world, dating back as early as 4th century for its origin. Seaweeds are generally of three types, namely brown, green and red seaweeds, each being different based on their respective pigmentation.
Rising number of applications of commercial seaweeds has been a driving factor for the growth of the commercial seaweeds market. Apart from this, other drivers include increasing seaweed harvesting and usage, medical uses of a seaweed called spirulina, emerging seaweeds as snacks, application of seaweeds in bio-refining. The market faces some challenges and restraints as well, which include harmful effects of excessive use, natural calamities leading to decline in production. These factors have been holding back the market from its full potential.
The Global Commercial Seaweeds Market is segmented on the basis of form, type and application. The market segmentation on the basis of form is done under flakes, liquids and powdered. Based on type the market is segmented into brown seaweeds, green seaweeds, red seaweeds. On the basis of application, the market is segmented into agriculture, animal feed, food, others. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Commercial Seaweeds market was dominated by Asia-Pacific, with the overall market share of over 34% globally. Asia-Pacific was followed by North America and Europe. North America is predicted to grow at a rapid pace while Asia Pacific market is expected to be stagnant in the coming few years.
Some of the major companies dominating the Commercial Seaweeds Market, by their products and services include E.I. Dupont De Nemours and Company, Cargill Incorporated, Roullier Group, Compo Gmbh & Co. Kg, Biostadt India Limited, Acadian Seaplants Limited, Brandt, CP Kelco, Gelymar, Seasol International Pty. Ltd.
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