Global Seaweed Extract Market Report 2024 - Seaweed Extract Market was Valued at $16.5 Billion in 2023 and is Projected to Grow to $20.9 Billion by 2029
Seaweed Extract: Global Markets
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
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900