With a 5.8% compound annual growth rate, the edible Seaweed Algae market estimated to be worth $11,250.0 million in 2023, is projected to reach $19,745.0 million by 2033. Seaweed production has been boosted by growing public knowledge of its nutritional advantages and expanding applications in pharmaceuticals. Seaweed is a versatile ingredient often seen in Asian cuisines. It can be used in soups, salads, and even as a wrap for sushi and rice.
According to Future Market Insights (FMI), the worldwide edible Seaweed Algae market is valued at US$ 11,250.0 million in 2023 and it is anticipated to reach US$ 19,745.0 million by 2033. Over the next decade, global Seaweed Algae demand is likely to increase at a CAGR of 5.8%.
The global edible Seaweed Algae market, valued at $11,250.0 million in 2023, is expected to hit $19,745.0 million by 2033, driven by a 5.8% CAGR. Increased consumer awareness of its nutritional benefits and expanded applications in pharmaceuticals have fueled seaweed production. Commonly used in Asian cuisines, seaweed is versatile, utilized in soups, salads, and as a wrap for sushi and rice.
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Seaweed production has increased dramatically as a result of increased consumer awareness of its nutritional benefits and accessibility. Edible seaweed is used in the pharmaceutical industry because of its wealth of bio-active compounds, which are used to make vitamins, medications, and other products. Furthermore, the notion of consuming seaweed raw is not novel. In Asian countries such as South Korea and Japan, seaweed is often used in soups, stews, salads, and other meals. Rice and sushi are also wrapped in it.
The health and immunity of farm animals have significantly improved as a result of the use of seaweed in animal feed. Cattle are producing more dairy products than ever before. Furthermore, livestock and farm animals are less likely to get illnesses that could be harmful to their health. In the food and beverage sector, seaweed extract is utilised as a thickening, gelling, and stabilising ingredient. The food industry is expanding steadily, and because of its sustainability and environmentally beneficial qualities, new foods like certain types of seaweed are more readily embraced by customers.
Key Takeaways from the Seaweed Algae Report:
- The global Seaweed Algae marketis expected to reach a valuation of US$ 19,745.0 million by 2033.
- Global demand for Seaweed Algae is likely to soar at 8% CAGRover the forecast period.
- Japan is projected to hold a dominant value share of 0% in the global market by 2033.
- The United States Seaweed Algae market is projected to reach a valuation of US$ 5,429.8 million by 2033.
- China market is estimated to witness a value CAGR of 6% during the projection period.
“There is an increase in demand for edible seaweed products due to their applications across various industries like food processing, pharmaceuticals, cosmetics, and animal feed” – says a lead analyst at Future Market Insights (FMI)
Who is Winning?
Gelymar, Tasmanian Seafood Seduction, PhycoHealth, Sea Forest, Australian Seaweed Institute, Marinova, Great Southern Ocean, The Seaweed Company, Acadian Seaplants, Qingdao Gather Great Ocean Algae Industry Group, Roquette Klotze GmbH, Cargill, Incorporated and Acadian Seaplants are key Seaweed Algae manufacturers listed in the report.
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
- 2021: Cargill Foods recently launched seaweed powder as a food ingredient for processed food as an eco-friendly alternative which is sustainably sourced and more environmentally friendly. The company also claims to be the first company to offer this product commercially in Europe
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Edible Seaweed Market by Category
By Product Type:
- Brown Algae
- Green Algae
- Red Algae
By End Use Application:
- Food & Beverage Processing
- Pharmaceuticals
- Dietary Supplements and Nutraceuticals
- Personal Care and Cosmetics
- Animal Feed
- Aqua Feed
- Pet Food
- Retail
By Extraction Method:
- Conventional
- Current Method
By Form:
- Dried
- Whole
- Powder
- Liquid
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global Seaweed Algae market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the Seaweed Algae market based on product type (Brown Algae, Green Algae and Red Algae), End Use Application (Food & Beverage Processing, Pharmaceuticals, Dietary Supplements and Nutraceuticals, Personal Care and Cosmetics, Animal Feed, Aqua Feed, Pet Food and Retail), Extraction Method (Conventional and Current Method), Form (Dried, Liquid) across various regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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