Commercial Seaweeds Market Report by Product (Brown Seaweeds, Red Seaweeds, Green Seaweeds), Form (Liquid, Powdered, Flakes), Application (Agriculture, Animal Feed, Human Consumption, and Others), and Region 2023-2028

Abstract

The global commercial seaweeds market size reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.7% during 2022-2028. The growing health consciousness among the masses, rising utilization of skincare products infused with natural ingredients, and increasing demand for biofertilizers and bio stimulants to promote plant growth and increase crop yield are some of the major factors propelling the market.

Commercial seaweeds, also known as macroalgae, are large and complex marine algae that are extensively utilized for their nutritional, industrial, and agricultural benefits. They contain vitamins, proteins, and minerals, offering a nutritional boost to many dishes. They have antioxidant, anti-inflammatory, and anti-microbial properties, making them ideal ingredients in health supplements and skincare products. They are used to prepare sushi rolls, soups, and salads. They are also utilized in the extraction of hydrocolloids like agar, alginate, and carrageenan, which are common thickening and stabilizing agents in the food industry.

At present, the increasing consumption of commercial seaweeds, as they contain omega-3 fatty acids, which contribute to heart health, is impelling the growth of the market. Besides this, the rising utilization of seaweeds in the agricultural sector as biofertilizers and biostimulants as they promote plant growth, increase crop yield, and improve soil health, contributing to sustainable farming practices is strengthening the market growth. In addition, the growing utilization of commercial seaweeds in the preparation of various Asian dishes in restaurants and hotels is offering a favorable market outlook. Apart from this, the increasing employment of commercial seaweeds in aquaculture, as they play a crucial role in marine ecosystems by offering food and habitat for a variety of marine species, is supporting the growth of the market.

Commercial Seaweeds Market Trends/Drivers:

Rising health consciousness among the masses

The commercial seaweed market is experiencing substantial growth due to the rising health consciousness among the population worldwide. The growing interest in health and wellness, coupled with the escalating trend of consuming natural and organic products, is catalyzing the demand for seaweed. These marine vegetables are a rich source of essential nutrients, thus becoming an integral part of the modern balanced diet. Commercial seaweed is low in calories and rich in minerals, vitamins, dietary fibers, proteins, and bioactive compounds that offer numerous health benefits. They help maintain heart health, control blood sugar levels, enhance digestion, boost immunity, and promote overall well-being, appealing to the health-conscious segment of consumers. Furthermore, extensive research and development (R&D) activities, along with continuous innovations in the food and beverage (F&B) industry, are resulting in the incorporation of seaweed into various health-promoting products.

Increasing demand for effective skincare products with natural ingredients

At present, the increasing demand for effective skincare products integrated with natural ingredients is positively influencing the commercial seaweeds market. Seaweeds, or marine macroalgae, are well-recognized for their rich nutrient profile, consisting of essential vitamins, minerals, amino acids, antioxidants, and fatty acids. Their unique bioactive compounds possess antioxidant, anti-inflammatory, and anti-aging properties, all of which are critical for skin health and rejuvenation. The global skincare industry is also responding to this rising consumer preference by infusing a variety of seaweed species into a range of skincare products. From facial cleansers, toners, masks, and serums to moisturizers and body lotions, seaweed is emerging as a favored ingredient, positively impacting the commercial seaweed market. Moreover, seaweed extracts can protect the skin from environmental stressors, such as pollutants and UV radiation, which are significant contributors to premature skin aging. As consumers are becoming more cognizant of these benefits, the demand for seaweed-based skincare products is increasing, thereby strengthening the commercial seaweed market growth.

Growing utilization of biofuels

At present, the growing utilization of biofuel as a sustainable source of energy is contributing to the growth of the commercial seaweeds market. Biofuels, derived from living organisms or metabolic by-products, present a promising solution to the increasing energy demands. The pursuit of green energy alternatives is motivated by the twin aims of reducing greenhouse gas emissions and minimizing dependence on fossil fuels. In this respect, seaweed-derived biofuels, also known as seaweed bioenergy, is emerging as a viable option. The market dynamics are also shaped by the extensive research and development (R&D) activities focused on optimizing the biofuel production process from seaweed. Advances in biotechnology and genetic engineering are enhancing the biofuel yield from seaweed, thereby increasing their commercial viability. Furthermore, improvements in cultivation methods, harvesting techniques, and bioconversion processes are enabling more efficient and cost-effective production of seaweed biofuels, contributing to the growth of the commercial seaweed market.

Commercial Seaweeds Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global commercial seaweeds market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product, form and application.

Breakup by Product:

Brown Seaweeds

Red Seaweeds

Green Seaweeds

Red seaweeds dominate the market

The report has provided a detailed breakup and analysis of the market based on the product. This includes brown seaweeds, red seaweeds, and green seaweeds. According to the report, red seaweeds represented the largest segment.

Red seaweeds, scientifically known as Rhodophyta, are a large group of marine algae characterized by their distinct reddish coloration. They comprise protein, fiber, vitamins, and minerals, providing significant health benefits, such as aiding digestion, improving heart health, and boosting immunity. Moreover, red seaweeds serve as an essential resource in the commercial sector, especially in the production of hydrocolloids. The cosmetic industry also extensively utilizes red seaweeds due to their high antioxidant, anti-inflammatory, and skin-enhancing properties, providing natural solutions for skin health. They are employed as a habitat and food source for various marine species. Furthermore, red seaweeds are contributing to carbon sequestration, aiding in the reduction of greenhouse gases and mitigating the effects of climate change.

Breakup by Form:

Liquid

Powdered

Flakes

Liquid holds the largest share in the market

A detailed breakup and analysis of the market based on the form has also been provided in the report. This includes liquid, powdered, and flakes. According to the report, liquid accounted for the largest market share.

Liquid commercial seaweed refers to seaweed that has been processed into a liquid form to be used in a variety of commercial applications. The liquid is typically derived from a certain type of seaweed, processed, and often concentrated for ease of use, transportation, and storage. This product is widely recognized for its versatility and effectiveness and is used extensively in industries, such as agriculture, horticulture, cosmetics, and food and beverage (F&B). In the agricultural and horticultural sectors, liquid seaweed is used as a bio-stimulant or a natural fertilizer due to its rich nutrient content. It contains macro and micro-nutrients, amino acids, and plant hormones that can enhance plant growth, boost crop yield, and increase the resistance of plants to pests, diseases, and environmental stresses.

Breakup by Application:

Agriculture

Animal Feed

Human Consumption

Others

Human consumption holds the biggest share in the market

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes agriculture, animal feed, human consumption, and others. According to the report, human consumption accounted for the largest market share.

Commercial seaweeds, also known as marine macroalgae, offer a wealth of health benefits for human consumption, leading to their growing popularity in diets. They are packed with numerous essential nutrients, including vitamins (like vitamins A, C, E, and B complex), minerals, such as iodine, iron, calcium, potassium, and magnesium), and dietary fiber. They are also a source of protein and contain beneficial fatty acids like omega 3. Commercial seaweeds are rich in antioxidants, such as flavonoids and carotenoids, which can help protect the body from cellular damage facilitated by free radicals, potentially minimizing the risk of chronic diseases like cancer and heart disease. Furthermore, antioxidants and anti-inflammatory compounds in seaweeds contribute to skin health, potentially helping to improve elasticity, hydration, and overall complexion of skin.

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Asia Pacific exhibits a clear dominance, accounting for the largest commercial seaweeds market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, Others); Latin America (Brazil, Mexico, Others); and the Middle East and Africa. According to the report, Asia Pacific represented the largest market.

Asia Pacific held the biggest market share since the region due to the rising utilization of commercial seaweeds in various Asian cuisines, such as sushi rolls, soups, stews, and salads. Apart from this, the increasing preference for using various skin-care products infused with natural ingredients is propelling the growth of the market. Additionally, the increasing adoption of various sustainable methods to produce commercial seaweeds is contributing to the growth of the market in the region.

North America is estimated to expand further in this domain due to the rising popularity of Asian cuisine among the masses. Besides this, the increasing demand for biofuels as a sustainable alternative to fossil fuels is bolstering the growth of the market in the region.

Competitive Landscape:

Key market players are investing in research operations to find innovative uses for seaweed, optimize their harvesting techniques, improve the efficiency of processing methods, and enhance the quality of their products. They are also adopting eco-friendly harvesting methods, implementing waste reduction strategies, and promoting responsible sourcing practices. Top companies are complying with the regulations and standards set by governmental and international bodies to ensure the safety and property of their products. They are also optimizing their supply chain operations to ensure the timely delivery of products, minimize costs, and respond effectively to changes in market demand. Leading companies are leveraging the Internet of Things (IoT) and artificial intelligence (AI) in seaweed farming to monitor growth conditions, predict harvest time, and automate certain farming tasks.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Acadian Seaplants Limited

Algaia SA (Maabarot Products Ltd.)

Biostadt India Limited

BrandT Consolidated Inc.

Cargill Incorporated

COMPO Expert GmbH

CP Kelco U.S. Inc (J.M. Huber Corporation)

DuPont de Nemours Inc.

Gelymar S.A.

Indigrow Ltd.

Lonza Group AG

Seasol International Pty. Ltd.

TBK Manufacturing Corporation

Recent Developments:

In 2022, Acadian Seaplants Limited announced the completion of its microbial testing laboratory in the Deveau Center Extraction Facility in Cornwallis, which will help to maintain exceptional quality across its seaweed processing facilities.

In 2023, Algaia SA announced the expansion of its R&D center in Saint Lo, which is equipped with state-of-the-art machinery and will support the building of a new workshop to produce new seaweed extracts.

In 2022, CP Kelco U.S. Inc. (J.M. Huber Corporation) announced the launch of its new portfolio of plant-based meat alternatives with multifunctional solutions, such as GENU® Texturizer MA-1, which is extracted from red seaweed.

Key Questions Answered in This Report

• 1. How big is the global commercial seaweeds market?
• 2. What is the expected growth rate of the global commercial seaweeds market during 2023-2028?
• 3. What are the key factors driving the global commercial seaweeds market?
• 4. What has been the impact of COVID-19 on the global commercial seaweeds market?
• 5. What is the breakup of the global commercial seaweeds market based on the product?
• 6. What is the breakup of the global commercial seaweeds market based on the form?
• 7. What is the breakup of the global commercial seaweeds market based on the application?
• 8. What are the key regions in the global commercial seaweeds market?
• 9. Who are the key players/companies in the global commercial seaweeds market?