The report "Seaweed Cultivation Market by Type (Red, Brown, Green),
Method of Harvesting (Aquaculture, Wild Harvesting), Form (Liquid, Powder,
Flakes, Sheets), Application (Food, Feed, Agriculture, Pharmaceuticals), and
Region - Global Forecast to 2025", The market size is
estimated to be valued at USD 16.7 billion in 2020 and is projected to reach
USD 30.2 billion by 2025, recording a CAGR of 12.6% during the forecast period,
in terms of value. Seaweeds are plant-like organisms that are also known as
marine microalgae; they are generally attached to a rock or other hard
substratum in coastal areas. The classification of seaweeds is based on various
properties, such as pigmentation, the organization of photosynthetic membranes,
the chemical nature of the photosynthetic storage product, and other
morphological features. The application of seaweeds dates back to the fourth
and sixth centuries in Japan and China, respectively. Since then, increasing
investment and focus on R&D activities pertaining to seaweed were
undertaken globally, which encouraged the cultivation of seaweeds. Currently,
seaweeds account for more than 90% of the global market’s demand.
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Browse in-depth TOC on “Seaweed Cultivation Market”
52 - Figures
210 - Pages
The green seaweeds segment is
projected to be the fastest growing, in terms of value, during the forecast
period.
The emerging use of green
seaweeds in other application areas such as biofuel production and wastewater
treatment is expected to drive the market growth further. Initiatives by the UK
Department of Transport to double the use of biofuel in 2020 are expected to
have a positive impact on the demand for green seaweeds. Green seaweeds such
as Ulva and Enteromorpha are used for the removal of toxins
from industrial wastewater. It is also used as a bioremediation tool.
The food segment is projected to
account for a major share in the market during the forecast period
Seaweed is used as an
ingredient in food products and is consumed directly in countries such as
Japan, Korea, and China since ancient times. As it is rich in nutrients such as
high iodine, calcium, magnesium, iron, vitamin, antioxidant, and fiber,
seaweed, is widely considered a healthy food. Moreover, seaweeds have various
applications as a thickening and gelling agent in processed food products such
as sausages, bread, creams, cheese, dairy drinks, and candies. In addition, the
use of seaweeds for the manufacturing of low-calorie ice creams and cakes is
further projected to fuel the market growth.
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Asia Pacific is projected to
dominate the regional seaweed cultivation market through 2025
Due to the increasing presence
of tropical rainforests in the Asia Pacific, various species of seaweeds are
found in this region. With a wide variety of seaweed species in this region and
increasing production of the seaweed-based products, Asia Pacific remains the
largest supplier of seaweeds to both domestic and export markets. In addition,
the bulk of seaweeds in this region is obtained from culturing (harvested
through aquaculture). The key seaweed types that are in demand in this region
include nori, kombu, and wakame. They are increasingly used in food
preparations in the Chinese and Japanese diets. As seaweeds are nutrition-dense
and are increasingly used as an ingredient in processed food, consumers prefer
spen ding on processed food for
healthy diets. The demand for clean labels and organic products is on the rise,
which is also leading to the increasing use of seaweeds as organic fertilizers
in the agriculture industry. The other industrial applications of seaweeds in
the region include pharmaceuticals, agriculture, cosmetics, biofuel, and feed
additives. These factors are projected to fuel the growth of the seaweed
cultivation market in the Asia Pacific. Of the various countries in the Asia
Pacific, China and Indonesia are projected to account for a major share of the
market.
Key Players:
This report includes a study on
the marketing and development strategies, along with the product portfolios of
leading companies. It consists of profiles of leading companies, such as
Cargill, Incorporated (US), DuPont (US), Groupe Roullier (France), CP Kelco
U.S., Inc. (US), Acadian Seaplants (US), Qingdao Gather Great Ocean Algae
Industry Group (China), Qingdao Seawin Biotech Group Co. Ltd. (China), Qingdao
Bright Moon Seaweed Group Co. (China), Seaweed Energy Solutions AS (Norway),
The Seaweed Company (Netherlands), Algea (Norway), Seasol (Australia), Gelymar
(Chile), Algaia (France), CEAMSA (Spain), COMPO EXPERT (Germany), Leili
(China), Irish Seaweeds (Ireland) and AtSeaNova (Belgium).
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