Commercial Seaweeds Market Research Report by Size, Share, Growth Opportunity, Forecast To 2023
Commercial Seaweeds Market Highlights
Seaweeds are a group of multicellular and photoautotrophic algae, that occur in marine environments and are generally found attached to rock or a hard substratum. Due to its high nutrients content seaweeds are used in number of applications, including food supplements, medicines, industrial chemicals, and as a potential component for biofuel research and CCS (carbon capture and sequestration).
Based on type, the Global Commercial Seaweeds Market has been segmented into red seaweeds, brown seaweeds, and green seaweeds. The brown seaweeds segment is anticipated to gain the largest revenue share in the global commercial seaweeds market and shall maintain lead throughout the forecast period. Brown seaweeds contains iodine and tyrosine, which help in maintaining thyroid function of the body. These are also good source of vitamins and minerals, such as iron, manganese, copper, vitamin B2, vitamin B1. Moreover, seaweeds also consist of small amount of vitamins A, C, E, and K along with folate, zinc, sodium, calcium and magnesium. Thus, these properties help to improve bone health, balance hormones, reduce fatigue, hypothyroidism, and menstrual problems. This is a crucial determinant that is boosting the growth of brown seaweeds segment in the global commercial seaweeds market.
By application, the global commercial seaweeds market has been segmented into agriculture, animal feed, food & beverages, and others. Food & beverages segment is further bifurcated into convenience food, dairy & frozen desserts, meat, poultry, & seafoods, bakery & confectioneries, and others. The food & beverages segment is expected to garner the highest revenue share of the global commercial seaweed market owing to the factor that seaweeds are enriched with nutrients such as high iodine, calcium, magnesium, iron, vitamin. Furthermore, seaweeds are also used as gelling and thickening agents in various processed food products such as, dairy drinks, creams, cheese, and candies.
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Some of the key players in the global commercial seaweeds market are-
- Cargill, Incorporated (US)
- DowDuPont Inc. (US)
- Algaia SA (France)
- Compañía Española de Algas Marinas S.A. (Spain)
- Extractos Naturales Gelymar S.A.(Chile)
- Acadian Seaplants Limited (Canada)
- CP Kelco U.S., Inc. (US)
- Biostadt India Limited (India)
- COMPO EXPERT GmbH (Germany)
- Compagnie Financiere et de Participations Roullier S.A. (France)
The global commercial seaweeds market has been segmented based on type, method of harvesting, form, application and region.
By type, the global commercial seaweeds market has been classified as red seaweeds, brown seaweeds, and green seaweeds.
By method of harvesting, the global commercial seaweeds market has been classified as aquaculture and wild harvesting.
Based on form, the global commercial seaweeds market has been segmented into liquid, powder, flakes, and others.
The Global Commercial Seaweeds Market has been segmented based on region, into North America, Europe, Asia-Pacific, Rest of the World.
Asia-pacific is expected to dominate the Global Commercial Seaweeds Market owing to presences various species seaweeds in the region. Countries such as China, Indonesia and Japan are among the largest suppliers of commercial seaweeds in the region.
North America and RoW commercial seaweeds market is expected to grow at a rapid pace due to the surging prevalence and consumption of commercial seaweeds in the regions. Moreover, North America is also expected to project a significant market share owing to the increasing awareness regarding the mineral and vitamin content of seaweeds.
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