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Redding, California - May 29, 2024

Seaweed Market to be Worth $37.84 Billion by 2031

Seaweed Market Size, Share, Forecast, & Trends Analysis by Type (Red Seaweed, Brown Seaweed, Green Seaweed), Form (Dry, Liquid), Application (Food and Beverage, Extraction of Hydrocolloids, Animal Feed, Agriculture) — Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Seaweed Market Size, Share, Forecast, & Trends Analysis by Type (Red Seaweed, Brown Seaweed, Green Seaweed), Form (Dry, Liquid), Application (Food and Beverage, Extraction of Hydrocolloids, Animal Feed, Agriculture) — Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, in terms of value, the Seaweed Market is projected to reach $37.84 billion by 2031, at a CAGR of 10.3% during the forecast period of 2024–2031. In terms of volume, this seaweed market is projected to reach 18,871.4 tons by 2031, at a CAGR of 11.1% during the forecast period of 2024–2031. The growth of this market is driven by the increasing demand for plant-based products, rising consumption of seaweed-based products due to their nutrient-rich profile, and government initiatives to boost seaweed cultivation. However, disruptions caused by natural calamities may restrain market growth.

Additionally, the growing demand for biofuels and technological advancements in seaweed cultivation are expected to create market growth opportunities. However, health complications associated with excess intake of seaweed pose a major challenge to the market’s growth. Furthermore, the growing focus on environmental sustainability is a prominent trend in the seaweed market.

Key Players

The key players operating in the seaweed market are Seaweed & Co. (U.K.), Cargill, Incorporated (U.S.), Green Rise Agro Industries (India), VietDelta Ltd. (Vietnam), Ocean rainforest (Denmark), Thorverk hf. (Iceland), ALGAplus (Portugal), MYCSA Ag, Inc. (U.S.), Seaweed Solutions AS (Norway), The Seaweed Company (Netherlands), Baoji Earay Bio-Tech Co., Ltd. (China), Shore Seaweed (U.K.), Rongcheng Jingyi Ocean Technology Co., Ltd. (China), Sar Agrochemicals & Fertilizers Pvt. Ltd. (India), and Algea, the Arctic Company (Part of Valagro Group) (Norway).

The seaweed market is segmented by type (red seaweed, brown seaweed, and green seaweed), by form (dry {powder, flakes, and other dry forms} and liquid), by application (food and beverage, extraction of hydrocolloids, animal feed, agriculture, and other applications) and by geography (North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on type, the seaweed market is mainly segmented into red seaweed, brown seaweed, and green seaweed. In 2024, the red seaweed segment is expected to account for the largest share of 52.3% of the seaweed market. Moreover, the red seaweed segment is projected to register the highest CAGR of 10.8% during the forecast period. This growth can be attributed to the increasing health consciousness among consumers, expanding applications of red seaweed in the food industry, and rising demand for red seaweed extracts like agar and carrageenan hydrocolloids across various sectors.

Based on form, the seaweed market is segmented into dry and liquid. In 2024, the dry segment is expected to account for the larger share of 60.4% of the seaweed market. This segment’s large market share can be attributed to the increasing demand for seaweed powder in the food and cosmetics industries. Moreover, the dry segment is projected to register a higher CAGR during the forecast period. This growth can be attributed to the advantages offered by powdered seaweed over their liquid counterparts, including a longer shelf-life and ease of transportation & storage.

Based on application, the seaweed market is mainly segmented into food and beverage, hydrocolloid extraction, animal feed, agriculture, and other applications. The animal feed segment is projected to register the highest CAGR of 11.3% during the forecast period. This growth can be attributed to the expansion of the livestock sector, resulting in the increased demand for animal feed and the growing utilization of seaweeds as additives in animal feed formulations.

Based on geography, the seaweed market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 63.0% of the seaweed market, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific’s seaweed market is estimated to be worth USD 12.0 billion in 2024. Asia-Pacific’s significant market share can be attributed to the presence of numerous local and regional players, government initiatives aimed at promoting seaweed cultivation and utilization across various industries, increasing demand for organic food products, and expanding applications of sea vegetables, particularly in the food sector. Furthermore, Moreover, in the Asia-Pacific region, there is extensive production and consumption of seaweeds due to the abundant availability of raw materials, favorable climatic conditions for seaweed cultivation, and low labor costs. These factors contribute to the growth of the seaweed market in Asia-Pacific.

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Key Questions Answered in the Report:

What are the historical market sizes, volume, and growth rates of the seaweed market?
At what rate is the seaweed demand projected to grow for the next 5–7 years?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments, in terms of type, form, and application, are expected to create major traction for the manufacturers in this market during the forecast period of 2024–2031?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the seaweed market during the forecast period of 2024–2031?
Who are the major players in the seaweed market? What are their specific offerings in this market?
What are the recent strategic developments in the seaweed market? What are the impacts of these strategic developments on the market?

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Redding, California - May 29, 2024

Seaweed Market to be Worth $37.84 Billion by 2031

Seaweed Market Size, Share, Forecast, & Trends Analysis by Type (Red Seaweed, Brown Seaweed, Green Seaweed), Form (Dry, Liquid), Application (Food and Beverage, Extraction of Hydrocolloids, Animal Feed, Agriculture) — Global Forecast to 2031

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