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The global seaweed market was valued at US$ 11.5 Billion in 2020.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt on extracting activities of seaweeds.
The increasing consumption of seaweed in dietary supplements based on its nutritive content, flavor-enhancing, and weight loss properties, represents one of the key factors catalyzing the global seaweed market.
Based on the environment, the global seaweed market can be bifurcated into aquaculture and wild harvest. Currently, aquaculture holds the majority of the total market share.
Based on the product, the global seaweed market has been segmented into red, brown, and green. Among these, red seaweed exhibits a clear dominance in the market.
Based on the application, the global seaweed market can be divided into processed foods, direct human consumption, hydrocolloids, fertilizers, animal feed additives, and others. Currently, direct human consumption represents the largest segment.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global seaweed market include Acadian Seaplants Limited, Cargill Incorporated, DuPont de Nemours, Inc., Irish Seaweeds, Leili, Mara Seaweeds, Qingdao Gather Great Ocean Algae Industry Group (GGOG), etc.
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