Increasing demand for natural and sustainable ingredients is a key factor driving the global marine seaweed industry
Rockville , Sept. 18, 2023 (GLOBE NEWSWIRE) — According to Fact.MR, the worldwide Marine Seaweed Market is valued at US$ 862.4 million in 2023 and it is anticipated to reach US$ 1,513.6 million by 2033. Over the next decade, global marine seaweed demand is likely to increase at a CAGR of 5.8%.
Marine seaweed offers various health benefits, like containing bioactive compounds, such as fucoidans, phycocyanins, and polyphenols which have been affiliated with immune boosting, anti-inflammatory and antioxidant properties. Seaweed’s potential role in supporting cardiovascular health, thyroid function, and digestive health has attracted attention from health-conscious consumers which will fuel marine seaweed demand during the forecast period.
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|Forecast Period||2023 – 2033|
|Value Projection (2033)||US$ 1513.6 Million|
|Growth Rate (2023-2033)||5.8% CAGR|
|No. of Pages||170 pages|
|No. of Tables||48 Tables|
|No. of Figures||144 Figures|
Innovative marketing strategies employed by key marine seaweed manufacturers are expected to boost the market during the next ten years.
The governments worldwide has recognized the potential of seaweed as a sustainable resource and has implemented policies to promote its cultivation and utilization. Initiatives include providing financial incentives, technical support, and research grants to encourage seaweed farming and product development. These government efforts have spurred the growth of the seaweed industry and increased its demand.
For instance: In 2022, Tamil Nadu’s seaweed farming project was launched in a bid to provide struggling fishing communities with alternative and sustainable livelihoods.
Seaweed has environment friendly applications, such as water purification, biofuel production, and waste water treatment. It can improve water quality by absorbing heavy metals and other pollutants from water.
There are emerging markets and regions that are yet to fully tap into the potential of marine seaweed. Expanding into these markets, such as developing countries with coastal resources, can unlock new opportunities for seaweed cultivation, processing, and product development.
The marine seaweed industry is experiencing increased research and innovation activities. Entrepreneurs, scientists, and key industry players are exploring new species of seaweed, improved cultivation techniques, innovative extraction methods, and researching in potential applications of seaweed in various industries. This focus on research and innovation is propelling the industry forward and exploring new possibilities.
Key Takeaways from the Marine Seaweed Report:
- The global marine seaweed market is expected to reach a valuation of US$ 1,513.6 million by 2033.
- Global demand for marine seaweed is likely to soar at 5.8% CAGR over the forecast period.
- Based on source, red marine seaweed segment is anticipated to reach a valuation of US$ 367.2 million by 2033.
- Asia Pacific is projected to hold a dominant value share of 44.5% in the global market by 2033.
“The marine seaweed market is experiencing significant growth globally, driven by increasing demand in various industries such as food, cosmetics, and pharmaceuticals, owing to its nutritional value, sustainable nature, and versatile applications.”– says a lead analyst at Fact.MR
Key Segments of Marine Seaweed Industry Research Report
|By Source||By End Use Application||By Region|
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Who is Winning?
Cargill Inc., Qingdao Gather Great Ocean Algae Industry Group (GGOG), Beijing Leili Marine Bioindustry Inc. (Leili Group), Ocean Harvest Technology, Roullier Group, CP Kelco, Mara Seaweed, Acadian Seaplants Limited, DuPont de Nemours, Inc., Irish Seaweeds, Gelymar are key marine seaweed manufacturers listed in the report.
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
- In 2023, Ocean Halo released sustainably packaged seaweed, the company released a trayless seaweed snack, eliminating the holding tray from the packaging.
- In 2022, Cadalmin LivCure extract, developed byCentral Marine Fisheries Research Insititute (CMFRI) launched to combat non-alcoholic fatty liver disease.
- In 2022, new premium beauty, wellness brand SeaWeed Naturals was launched.
Get More Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the global marine seaweed market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the marine seaweed market based on source (brown seaweed, red seaweed, green seaweed), and end use application (food and beverage, cosmetics and personal care, dietary supplements, regenerative medicine), across various regions.
Checkout More Related Studies Published by Fact.MR Research:
Commercial Seaweed Market: The global commercial seaweed market is anticipated to expand at an average CAGR of 6.0% and touch a valuation of US$ 20.3 billion by the end of 2032, up from US$ 11.3 billion in 2022.
Seaweed Algae Market: The global seaweed algae market is estimated to expand from US$ 15,000.0 million in 2023 to US$ 20,345.0 million by 2033. Over the next ten years (2023 to 2033), global Seaweed Algae sales are likely to soar at a notable CAGR of 3.1%.
Marine Algae Market: The global marine algae market size is estimated to secure a valuation from US$ 3,612.2 million in 2023 to US$ 5,798.9 million by 2033. Over the next ten years (2023 to 2033), global sales are likely to soar at 4.8% CAGR.
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