The global commercial seaweeds market grew at a CAGR of around 8% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during the next five years. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Commercial seaweeds are bioresources or macroalgae attached to hard substrata in lakes, rivers, oceans and other water bodies. They are widely used to produce water-soluble carbohydrates, also known as hydrocolloids, which further find extensive applications in the food and beverage (F&B) industry to increase the viscosity of aqueous solutions. They also aid in improving the skin moisture retention properties of cosmetic products, such as creams and lotions. Moreover, due to the high fiber content, commercial seaweeds act as a soil conditioner and can be applied directly or watered around the root areas.
A global rise in the demand for commercial seaweeds can be attributed to the growing popularity of organic farming and their increasing utilization in the production of natural fertilizers. Moreover, the growing food and beverage (F&B) industry is increasing the adoption of commercial seaweeds to stabilize ice cream and form gels and water-soluble films. They are further utilized in the manufacturing of pharmaceutical products for rheumatism and osteoporosis. Apart from this, as seaweeds can absorb heavy metal ions like zinc and cadmium from polluted water, they are gaining traction in wastewater treatment across the globe. Furthermore, several ongoing projects are in the process of finding a suitable way to use and ferment large quantities of commercial seaweeds in the ocean and generate methane gas. Besides this, the increasing environmental concerns and stringent fuel and emission standards established by governments of various countries are anticipated to escalate the demand for methane gas as biofuel in the automotive industry.
IMARC Group provides an analysis of the key trends in each sub-segment of the global commercial seaweeds market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product, form and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Acadian Seaplants Limited, Algaia SA (Maabarot Products Ltd.), Biostadt India Limited, BrandT Consolidated Inc., Cargill Incorporated, COMPO Expert GmbH, CP Kelco U.S. Inc. (J.M. Huber Corporation), DuPont de Nemours Inc., Gelymar S.A., Indigrow Ltd., Lonza Group AG, Seasol International Pty. Ltd. and TBK Manufacturing Corporation.
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