According to a new report, published by KBV research, The Global Kelp Product Market size is expected to reach $1 billion by 2031, rising at a market growth of 5.6% CAGR during the forecast period. In the year 2023, the market attained a volume of 10,244.50 Tonnes, experiencing a growth of 11.7% (2020-2023).
Kelp cultivation is highly sustainable and environmentally friendly. Unlike land-based crops, kelp requires no freshwater, arable land, or fertilizers. It absorbs excess nutrients from the water, mitigates ocean acidification, and provides habitat and food for marine life. As concerns about environmental sustainability grow, consumers are drawn to products with minimal ecological impact. Kelp products align with these sustainability goals, driving demand for eco-friendly alternatives.
The Liquid segment is experiencing a CAGR of 6% during the forecast period (2024 - 2031). Liquid kelp extracts are commonly used as foliar sprays or soil drenches in commercial agriculture, greenhouse cultivation, and home gardening. Foliar sprays deliver nutrients to plant leaves, while soil drenches provide nutrients to plant roots. Liquid kelp products are applied at various stages of plant growth to support overall health and productivity.
The agriculture segment is registering a strong potential in the Global Kelp Product Market by Application in 2023 thereby, achieving a market value of $285.7 million by 2031. Kelp use in agriculture offers a range of products and applications to improve soil fertility, enhance plant growth, and promote sustainable farming practices. As the demand for organic and environmentally friendly agricultural inputs continues to grow, kelp-based fertilizers and soil amendments are expected to increase, driving further innovation and development in this segment.
The Dried segment is growing at a CAGR of 6% during the forecast period (2024 - 2031). Dried kelp can be seasoned, roasted, or dehydrated into crispy snack chips or crisps. These dried kelp snacks offer a crunchy texture and savory flavor, making them a healthier alternative to traditional potato chips or fried snacks. Some dried kelp products are specifically marketed as dietary supplements, containing concentrated kelp extract in capsule or tablet form.
Full Report: https://www.kbvresearch.com/kelp-product-market/
The Asia Pacific region dominated the Global Kelp Product Market by Region in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $425.7 million by 2031. The North America region is anticipated to grow at a CAGR of 4.9% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 5.2% during (2024 - 2031).
By Form (Volume, Tonnes, USD Billion, 2020-31)
By Application (Volume, Tonnes, USD Billion, 2020-31)
By Type (Volume, Tonnes, USD Billion, 2020-31)
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