This report analyzes the global seaweed extract market. It uses 2023 as a benchmark year and offers projections, along with estimations of compound annual growth rates (CAGR), for the forecast period from 2024 to 2029 and it uses supply side to estimate market size.
Report Scope
This report covers key aspects of the seaweed extract market, including technological advances, economic factors and business considerations, to provide insights into this market. It outlines the market forces impacting the industry and covers the diverse applications associated with seaweed extract. Furthermore, the report surveys the key players operating in the global market for dried and processed seaweeds. It describes the factors driving market growth and examines the regional dynamics that affect the seaweed extract market.
Report Includes
- 31 data tables and 34 additional tables
- Analysis of the global market for seaweed extracts
- Analyses of the global market trends, with market revenue data from 2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029
- Estimates of the market size and growth forecasts and a corresponding market share analysis by collection, type, form, application, and region
- Facts and figures pertaining to the market growth drivers, opportunities and challenges, emerging technologies, regulations, and the impacts of macroeconomic variables
- Overview of the ESG developments in the global market, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices followed
- An analysis of the industry structure, including the major vendors and their market shares, recent M&A activity, and a venture funding outlook
- Profiles of the major global players, including Cargill Inc., Acadian Seaplants Ltd., Algaia SA, DuPont de Nemours Inc., CP Kelco (part of J.M. Huber Corp.)
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Market Overview
Chapter 3 Market Dynamics
Chapter 4 Regulatory Landscape
Chapter 5 Emerging Technologies and Patent Analysis
Chapter 6 Supply Chain Analysis
Chapter 7 Market Segmentations
Chapter 8 Competitive Landscape
Chapter 9 Appendix
Company Profiles
Executive Summary
The global market for seaweed extract was valued at $16.5 billion in 2023 and is projected to grow to $20.9 billion by the end of 2029. The production volume of wet seaweed was estimated to be 38.5 million tons in 2023 and is expected to exceed 43.7 million tons by the end of 2029. Several factors will drive this growth, including the positioning of seaweed as an alternative protein source, the rising vegan population in Western countries and the increasing popularity of seaweed snacks. Additionally, due to its potential to generate export revenues, seaweed cultivation is drawing government interest and thus also will contribute to this market expansion.Aquaculture, or farmed seaweed, accounts for over 90% of global seaweed production. The Asia-Pacific region leads the aquaculture seaweed market, while the Americas lead the market for the wild harvest stocks. Consumers prefer cultivated seaweed because there are no traceability issues and the product quality is higher.
The most popular seaweed species include Japanese kelp, Eucheuma seaweed, Gracilaria seaweed, wakame and nori. The production of these species is influenced by factors such as climatic conditions and cultivation methods. Wet seaweed is sold at lower prices, typically from $0.50/kg to $1.60/kg globally. Seaweed can be traded in raw and processed forms, with processed varieties including hydrocolloids like carrageenan, alginates and agar gum.
Seaweed is classified into red seaweed, green seaweed and brown seaweed. Red seaweed is consumed most frequently as it is abundantly available and is used to make alginates and seaweed extract sprays. Red seaweed is cheaper than brown seaweed due to its high supply. The global market for brown seaweed was valued at $9.0 billion in 2023 and is anticipated to grow at a CAGR of 3.7% during the forecast period. The next largest segment, the red seaweed market, was valued at $6.8 billion in 2023 and is anticipated to grow at a CAGR of 3.5% during the forecast period.
Seaweed comes in three product forms: flakes, powder and liquid. The market for the powder seaweed form was valued at $11.5 billion in 2023, accounting for 69.8% of the market share.
Companies Mentioned
- ACADIAN SEAPLANTS LTD.
- ARTHUR BRANWELL & CO. LTD.
- CARGILL INC.
- CEAMSA
- DUPONT
- GELYMAR
- GROUPE ROULLIER
- J.M. HUBER CORP.
- KELPAK
- OCEAN HARVEST TECHNOLOGY GROUP PLC
- OCEAN RAINFOREST
- QINGDAO MINGYUE SEAWEED GROUP CO. LTD.
- X-HUMATE (TIANJIN) INTERNATIONAL LTD.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 90 |
| Published | September 2024 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 17.5 Billion |
| Forecasted Market Value ( USD | $ 20.9 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
