A recent report published by Infinium Global Research on commercial seaweeds market provides in-depth analysis of segments and sub-segments in the global as well as regional commercial seaweeds market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional commercial seaweeds market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global commercial seaweeds market. According to the report the global commercial seaweeds market is projected to grow at a CAGR of 7.5% over the forecast period of 2018-2024.
Seaweed or macroalgae refers to several species of macroscopic, multicellular, marine algae. It includes some types of red, brown, and green macroalgae. Seaweeds are a rich source of multiple compounds such as polysaccharides, proteins, and phenols. Commercial seaweeds are segmented into red, brown, and green seaweeds on the basis of their pigmentation. Seaweed has several applications such as food, animal feed, pharmaceuticals, and fertilizers. The demand for red seaweeds is the highest owing to its highest application in human food and production of carrageenan hydrocolloid. It is followed by brown seaweeds and green seaweeds. The demand for seaweeds is driven by increasing usage of seaweeds for medicinal purposes and growing consumption in the European region.
Growing product application of seaweed in several sectors as fertilizers, animal feed, and healthcare and medical sectors is enhancing the demand of seaweed in the global market. Furthermore, the growing popularity of seaweed extracts such as agar, carrageenan, and alginate is also likely to drive the commercial seaweed market. The major applications of commercial seaweeds include human food, animal feed, and agriculture. Additionally, its application in other sectors as cosmetics, pharmaceuticals, biomass for fuel, wastewater management, and integrated aquaculture is expected to boost the growth of this market. Rising demand for seaweed-derived food products is estimated to boost industry growth over the next few years.
Geographically, the Asia-Pacific is the largest regional market of commercial seaweeds. Its market is anticipated to expand further at a good CAGR during the forecasted period. The growth in the seaweed market is primarily attributed to increased demand and production from countries such as Japan, China, South Korea, and Indonesia. Increasing product demand in the regional food industry is projected to propel the Asia-Pacific market at a good place in the near future. This region is estimated to expand further due to increasing awareness about the use of commercial seaweed in the pharmaceutical sector.
The report on global commercial seaweeds market covers segments such as type, form, and application. On the basis of type, the global commercial seaweeds market is categorized into red, brown, and green. On the basis of form, the global commercial seaweeds market is categorized into powder, liquid, and flakes. On the basis of application, the global commercial seaweeds market is categorized into human food, animal feed, agriculture, pharmaceutical, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-Pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the commercial seaweeds market. As a result, the APAC region is projected to experience growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global commercial seaweeds market such as The Cornish Seaweed Company, Indigrow Ltd., Chase Organics GB Limited, West Coast Marine Bio-Processing Corp., Seasol International Pty. Ltd., Brandt Consolidated, Inc., CJ CheilJedang Corporation, DowDuPont Inc., GimMe Health Foods LLC, and Mara Seaweed.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global commercial seaweeds market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of commercial seaweeds market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the commercial seaweeds market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the commercial seaweeds market to understand the present and future trends in this market and formulate their strategies accordingly.
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