Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Commercial Seaweed Market size is expected to reach $31 billion by 2027, rising at a market growth of 10.7% CAGR during the forecast period.
The Brown Seaweed segment is showcasing a CAGR of 10.8% during (2021 - 2027). In 2020, the brown seaweed segment registered a substantial revenue share of the commercial seaweed market. This segment is flourishing due to the attribute that these are widely being utilized in making hydrochloride that is being utilized as emulsifiers, water retention agents, and thickening agents for distinct food applications.
The Human Consumption segment has acquired maximum revenue share of Global Commercial Seaweed Market by Application in 2020 thereby, achieving a market value of $25.1 billion by 2027. The increasing growth of the segment is owing to factors such as rising population, rising disposable incomes, as well as increased demand for processed food products across the globe. The demand for processed food across the world is constantly rising due to rising adoption of the process of toxin removal and food preservation that are implemented in food processing.
The Powdered segment has growth rate of 10.7% during (2021 - 2027). The powdered form of seaweed is widely being utilized as a beauty product. Various manufacturers are launching seaweed powders because of the rising skin related problems such as skin irritation and inflammation. Powdered seafood also helps users to retain the moisture level of the skin. Additionally, it can also be used on oily skin in order to prevent acne.
The Asia Pacific market is the fastest growing region in the Global Commercial Seaweed Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $22.8 billion by 2027. The Europe market is anticipated to grow at a CAGR of 11.3% during (2021 - 2027). Additionally, The North America market would experience a CAGR of 11.2% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of DuPont de Nemours, Inc., Groupe Roullier, Brandt, Inc., Acadian Seaplants Limited, Indigrow Ltd., COMPO Group, Seasol International Pty Ltd., Gelymar SA (Algina Inversiones SA), Cargill Corporation, and Biostadt India Ltd.
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