According to Future Market Insights (FMI), the worldwide Macroalgae market is is experiencing a wave of growth, driven by rising consumer demand for sustainable, high-nutrition products. With a projected CAGR of 7.8% over the next decade, the market is expected to reach a staggering USD 18.3 billion by 2033, presenting a compelling opportunity for B2B investors seeking long-term returns. This growth surpasses the historical CAGR of 7.0% observed between 2018 and 2022, signifying a significant acceleration in the market’s momentum.
Macroalgae, also known as seaweed, is a diverse group of large, multicellular algae that offer a multitude of benefits. From its rich nutrient profile to its wide-ranging applications, macroalgae is playing an increasingly important role in various industries. The burgeoning demand for high-protein food products, coupled with a growing focus on sustainability, is propelling the macroalgae market forward.
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Demand on the Rise: Consumers Craving Sustainable, Nutritious Products
- Health and Wellness Trends: Consumers are increasingly prioritizing healthy and nutritious food choices. Macroalgae, rich in protein, vitamins, minerals, and antioxidants, aligns perfectly with this trend.
- Plant-Based Revolution: The rising popularity of plant-based diets is creating a significant demand for alternative protein sources. Macroalgae emerges as a viable option for manufacturers seeking to cater to this growing market segment.
- Sustainability in Focus: As environmental consciousness intensifies, consumers are gravitating towards sustainable food sources. Macroalgae cultivation requires minimal resources and offers environmental benefits like carbon sequestration, making it an attractive option for eco-conscious consumers.
- Functional Food Potential: Macroalgae’s potential health benefits extend beyond basic nutrition. Its anti-inflammatory and detoxifying properties make it valuable in the development of functional food products.
- Product Diversification: The industry is witnessing a surge in innovative product development. From seaweed snacks and condiments to cosmetics infused with macroalgae extracts, companies are capitalizing on the diverse applications of this versatile ingredient.
Key Takeaways from the Macroalgae Report:
- The global macroalgae market is expected to reach a valuation of US$ 18,305.12 million by 2033.
- Global demand for Macroalgae is likely to soar at 7.8% CAGR over the forecast period.
- The global macroalgae market is valued at US$ 18,305.12 million by 2023 for historical period.
- United States is projected to hold a dominant value share of 33.1% in the global market by 2033.
- Japan is projected to hold a dominant value share of 11.0% in the global market by 2023
“The market for macroalgae is expanding as a result of rising interest in environmentally friendly, plant-based food sources as well as growing public awareness of the advantages of seaweed farming. Its expansion is having an effect on the world by giving the food, cosmetics, and pharmaceutical industries a nourishing and adaptable ingredient. It also helps to sequester carbon and improves ocean health.” – says a lead analyst at Future Market Insights (FMI)
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Who is Winning?
Cargill, Incorporated, Acadian Seaplants Limited, CP Kelco, Dow Chemical Company, E. I. du Pont de Nemours and Company, Gelymar SA, Irish Seaweeds, Marcel Trading Corporation, Qingdao Gather Great Ocean Algae Industry Group (GGOG), Seasol International Pty Ltd, Yan Cheng Hairui Food Co., Ltd., Ocean Harvest Technology Limited
Mara Seaweed, Algatechnologies are key Macroalgae companies 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,
- In 2020, Algaia French company the company launched a new line of organic seaweed-based products for the food industry, including vegan gelling agents and texture enhancers.
Macroalgae Market Segmentation
By Type:
- Red Macroalgae
- Green Macroalgae
- Brown Macroalgae
By Application:
- Food & Beverages
- Agriculture
- Pharmaceuticals
- Cosmetics & Personal Care
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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