Commercial Seaweed Market to Hit USD 24.92 Billion by 2028

Pune, India, Dec. 11, 2023 (GLOBE NEWSWIRE) — The global commercial seaweed market size is projected to reach USD 24.92 billion by 2028, exhibiting a CAGR of 7.51% during the forecast period. In 2020, the market’s value stood at USD 14.11 billion and it is expected to touch USD 15.01 billion in 2021.

The commercial seaweed market has emerged as a significant player in the global food and agriculture sector, driven by a multitude of applications ranging from food and pharmaceuticals to cosmetics and biofuels. This article delves into the insights provided by recent market research reports to shed light on the key trends, drivers, and challenges shaping the commercial seaweed market.

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Leading Players Featured in the Research Report:

Companies leading Commercial Seaweed Market are DowDuPont, Inc. (Delaware, U.S.), Cargill, Inc. (Minnesota, U.S.), J.M. Huber (New Jersey, U.S.), Corbion N.V. (Netherlands), Kerry Group Plc (Tralee, Ireland), FMC Corporation (Pennsylvania, U.S.), Acadian Seaplants Limited (Nova Scotia, Canada), Gelymer S.A. (Santiago, Chile), Ocean Harvest Technology limited (Milltown, Ireland), Roullier Group (Brittany, France)

Report Scope & Segmentation:

Browse Summary of this Research Report:

https://www.fortunebusinessinsights.com/industry-reports/commercial-seaweed-market-100077

Potential Benefits of Seaweeds for COVID-19 Patients May Favor Market Growth:

Seaweeds and their derivatives are known for their exceptional nutritional properties that are capable of deterring attacks by pathogens such as viruses. For example, carrageenan, a polysaccharide from red seaweed, has already been investigated as a therapeutic agent for respiratory diseases. The capacity of carrageenan is now being tested against more potent viruses, mainly the SARS-Cov-2, which is responsible for the current COVID-19 pandemic. In September 2020, for instance, researchers from India’s Central Institute of Fisheries Technology found that sulfated polysaccharides from seaweeds are active against multiple viruses, including the coronavirus. The findings have also been recognized by the World Health Organization (WHO). Another study in December 2020 by investigators from the University of Pittsburgh, USA, revealed that orally ingested seaweeds are likely to have direct antiviral effects on the coronavirus within the intestine. Such findings amid the current crisis will positively impact commercial seaweed cultivation around the world in the post-pandemic era. However, in spite of its many promises, supply chain disruptions and economic downturn triggered by the COVID-19 pandemic led to the market registering a low growth of 5.85% in 2020.

Segmentation:

Based on type, the market is trifurcated into red, brown, and green seaweeds. The red segment led the global market with a share of 45.71% and the China market with a share of 46.26% in 2020.

By form, the market is segmented into flakes, powder, and liquid. On the basis of end-uses, the market is divided into food & beverages, agricultural fertilizers, animal feed additives, pharmaceuticals, and cosmetics & personal care. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Salient Features of the Report:

The report incorporates an exhaustive examination of the key market drivers, trends, and restraints and provides accurate forecasting of upcoming market opportunities. In addition, the report encompasses an in-depth study of all market segments, as well as a comprehensive evaluation of the regional dynamics. Lastly, the report offers a careful profiling and thorough research of the top market players and their strategies.

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Driving Factor:

Growing Demand for Organic Fertilizers to Favor the Market

Bringing sustainability to agricultural practices has been the focal point of concern…