The latest report by IMARC Group, titled “Commercial Seaweeds Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global commercial seaweeds market grew at a CAGR of around 8% during 2015-2020. Seaweeds are multicellular, macroscopic marine species that are consumed and used to preparedifferentcuisines. They are sea vegetables consisting of various essential nutrients such as vitamins, antioxidants, fiber, iodine, tyrosine, riboflavin, thiamine, iron, manganese, copper, omega-3 fatty acid, and vitamin B12. Seaweeds are also known to minimize the risk of heart diseases and lifestyle-related diseases, such as diabetes, thyroid, and obesity, promote gut health, and reduce blood cholesterol levels. Consequently, seaweeds find applications in numerous commercial applications in theagriculture, animal feed, nutraceuticals, and pharmaceutical industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Commercial Seaweeds Market Trends:
The global commercial seaweeds market is primarily driven by the increasing health consciousness among consumers who are incorporating seaweed in their daily diet. The market is also fueled by the increasing application of commercial seaweeds in diverse industries. They are used to manufacture various personal care products such as creams, moisturizers and face packs. In the food and beverage (F&B) industry, seaweed extract is employed as a thickening and gelling agent to prepare various foods and snacks. Besides this, seaweeds act as a soil conditioner and can be applied directly or watered around the root areas due to their high fiber content. Moreover, the rising investments in the production of animal feed and natural fertilizers from seaweeds, along with the increasing environmental concerns and stringent fuel and emission standards implemented by governments of various countries, are escalating the demand for commercial seaweeds. Looking forward, the market is expected to exhibit moderate growth during the forecast period (2021-2026).
- Based on the product, the market has been segmented into brown, red, and green seaweeds.
- On the basis of the form, the market has been classified into liquid, powdered, and flakes.
- The market has been categorized based on the application into agriculture, animal feed, human consumption, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players beingAcadian Seaplants Limited, Algaia SA (Maabarot Products Limited), Biostadt India Limited, BrandtConsolidated Inc., Cargill Incorporated, COMPO Expert GmbH, CP Kelco U.S. Inc. (J.M. Huber Corporation), DuPont de Nemours Inc., Gelymar S.A., Indigrow Limited, Lonza Group Limited, Seasol International, and TBK Manufacturing Corporation.
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