Commercial seaweed is finding significant uses in major fields across the globe. It relies on the system that offers special economic incentives to companies for achieving improvements in their health standards, agricultural growth, and medicinal values leading to both social as well as economic welfare.
The commercial seaweed market can be segmented by type into the brown, red, and green varieties. Red seaweed is majorly attractive due to its increasing application in the food industry. Based on form, the market has been divided into the liquid, powder, and flake categories. Several countries have adopted commercial seaweed to improve their respective economies. Health standard norms, medicinal values, global acceptance, investments, and strategies are crucial factors on which this market depends. Commercial seaweed finds application in the health care, food & beverages, cosmetics, and agro-based industries. The increasing number of research and development activities to generate useful results in different sectors acts as a catalyst for the development of the commercial seaweed market during the forecast period, besides the rising awareness among countries about the prices of chemical fertilizers and the universal need to protect the environment backed by a certain consciousness with respect to health. The high success rate of improvements in the health standards and the surge in agricultural production featuring commercial seaweed are important drivers of this market. Its usage in the cosmetic and agro-based sectors and economic incentives serve as excellent opportunities too.
The commercial seaweed market is distributed over Asia Pacific, North America, and Europe, of which Asia Pacific is a lucrative region and ranks first due to the magnifying demand for this product here. A brief study suggests that a substantial portion of this region’s revenue is captured by the commercial seaweed market due to the environmental and medical benefits it offers besides the overall rising health consciousness and government initiatives to increase awareness and improve economic and social stability. The use of modern technologies and continuous research and development by different companies play a role as well. The markets in North America and Europe also exhibit steady growth and this trend is projected to continue over the forecast period on account of the harmful effects of chemical fertilizers on crops and the necessity to reduce their usage, apart from government rules and regulations on health standards in recent years. Furthermore, rising incomes, increasing population, and a global shift toward healthy lifestyles are contributing factors propelling the market for commercial seaweed across Asia Pacific, North America and Europe. Major challenges faced by this market include environmental problems and asymmetric information regarding proper consumption of commercial seaweed products which creates obstacles in its global spread. Environmental protection is a major macroeconomic phenomenon which should be targeted so that this market reaches a considerable section of the global population.
Key participants in the industry include Biostadt India Limited, Gelymar, Cp Kelco, Roullier Group, Acadian Seaplants Limited, Brandt, Seasol International Pty. Ltd, E.I.Dupont De Nemours And Company, Compo Gmbh & Co.Kg, Cargill Incorporated, and Dupont De Nemours
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