Seaweed refers to macroscopic, multicellular, marine algae that may live attached to the seafloor or float freely in the ocean and are commercially farmed or harvested for food, pharmaceuticals, and industrial applications. Commercial seaweeds find applications in the food industry where they are used as food additives, thickeners, stabilizers, and emulsifiers. Their high mineral and vitamin content also finds uses in animal feed supplements, fertilizers, and biofuel production. The global commercial seaweed market is driven by the increasing awareness about the health benefits of seaweed consumption and the rising demand from the food industry.
The Global Commercial Seaweed Market is estimated to be valued at USD 10.66 Bn in 2024 and is expected to reach USD 12.67 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 2.5% from 2024 to 2031.
Key Takeaways
Key players operating in the commercial seaweed market are E.I. Du Pont de Nemours and Company, Travena Organic Solutions Ltd., Cargill Inc., Roullier Group, Leili Group, Biostadt India Limited, Compo GmbH and Co. KG, Acadian Seaplants Limited, Gelymar SA, BrandT Consolidated, Inc., Seasol International Pty. Ltd., CP Kelco., West Coast Marine Bio-Processing Corp., Chase Organics GB Limited, Indigrow Ltd., Acadian Seaplants, Algaia SA, and The Seaweed Company. The rising demand for seaweed as a thickening agent and emulsifier from the food industry is fueling market growth. Technological advancements such as controlled farming conditions and introduction of high-yielding seaweed species are further propelling the market expansion.
Market trends
Custom cultivating practices and controlled farming methods are allowing seaweed farmers to harvest seaweed throughout the year. This is helping maintain steady supplies and meet the Commercial Seaweed Market Growth. Another trend is the adoption of integrated multi-trophic aquaculture or IMTA, which involves farming seaweeds and filter-feeding shellfish with fed aquaculture species. This practice improves sustainability and environmental protection.
Get More Insights On- Commercial Seaweed Market
