Global Commercial Seaweed Market: Snapshot
Commercial seaweed is a kind of macro algae that is found in arctic, tropical and cold water bodies. These type of seaweeds are available in different colors. These are rich in vitamins and mineral content and that somehow expands its demand in different applications ranging from food, healthcare and personal care products. This type of algae are mostly edible thus increasing its application in food industry. Higher consumption of this seaweed increases its harvesting across large number of countries. The market for commercial seaweed is witnessing substantial growth prospective and the market is expected to follow steady growth rate during the forecast period.
Transparency Market Research estimates that in terms of revenue, the global commercial seaweed market was valued at US$10,570.3 mn in 2016. The market is expected to reach US$26,107.9 mn by 2025, increasing at a CAGR of 10.8% from 2017 to 2025. In terms of volume, the global commercial seaweed market is expected to exhibit a CAGR of 9.9% from 2017 to 2025.
Red Seaweed to Rake in Maximum Share in Global Revenue
The report segments the global commercial seaweed market in terms of product type into red seaweed, brown seaweed, and green seaweed. Of these, the segment if red seaweed held the dominant 52.6% of the overall revenue of the global market in 2016. The segment is expected to retain dominance over the global market in terms of revenue contribution over the report’s forecast period as well. Traditionally used across a number of food recipes, the segment of red seaweed will benefit from the thriving global food industry and the rising popularity of South East Asian cuisines across the globe over the forecast period.
In terms of volume, the segment of brown seaweed held the dominant share in the global commercial seaweed market in 2016 owing to the high supply and easy availability of this variety of seaweed. The segment is expected to exhibit a considerable CAGR during the forecast period and retain its leading position in terms of volume-wise sales. The segment held the second position in terms of revenue contribution to the global market in 2016 and is expected to witness a rise in its global market share by the end of the forecast period.
Asia Pacific Market to Register Strong Growth
This study segments the commercial seaweed market in terms of geography into North America, Europe, Asia Pacific, Middle East and Africa (MEA) and Latin America.
Of these, the market in Asia Pacific held more than 60% of the commercial seaweed market in 2016. This region consists high-growth potential countries such as Japan, China, and India, which contribute extensively to the global demand for commercial seaweed. The Europe market is expected to witness considerable market share in commercial seaweed market. France, UK, Germany are some of the important economies in Europe that are contributing to the growth trajectory of global commercial seaweed market. In this region, the demand for alginate and agar based hydrocolloids has significantly increased over the past few years.
North America is expected to remain the leading regional market for commercial seaweed in terms of growth rate over the report’s forecast period. Large concentration of Japanese restaurants in this region has increased the demand for Asian Cuisines, thus accelerating the demand for commercial seaweed. Scarcity in the production of red seaweeds coupled with higher demand for this seaweed have increased prices, thus increasing the market share of this seaweed in the region. In North America, red seaweed held the dominant market share in terms of revenue. Green seaweeds, utilized as organic fertilizers, are also high in demand in this region.
Some of the leading players operating in the global commercial seaweed market are Cargill Corporation (U.S.), E.I. Du Pont de Nemours and Company (U.S.), CP Kelco (U.S.), CEAMSA (Spain), Acadian Seaplants Ltd. (Canada), Gelymar SA (Chile), Seasol International Pvt Ltd (Australia), Brandt Agricultural Products Ltd (Canada), The Cornish Seaweed Company (U.K.), and Leili Group (China).
Global Commercial Seaweed Market: Overview
This report covers the analysis and forecast of the commercial seaweed market on a global and regional level. The study provides historic data of 2016 along with forecast for the period between 2017 and 2025 based on volume (kilo tons) and revenue (US$ Mn).
The study provides a decisive view of the commercial seaweed market by segmenting it based on product type, form, application, and regional demand. Application segments have been analyzed based on current trends and future potential. The market has been estimated from 2017 to 2025 in terms of volume (kilo tons) and revenue (US$ Mn). Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for individual applications in all regions.
Global Commercial Seaweed Market: Scope of the Report
The study covers the drivers and restraints governing the dynamics of the market along with their impact on demand during the forecast period. Additionally, the report includes potential opportunities in the commercial seaweed market on the global and regional level.
The study encompasses market attractiveness analysis, wherein applications have been benchmarked based on their market size, growth rate, and general attractiveness for future growth.
The market has been forecasted based on constant currency rates. Prices of commercial seaweed vary in each region and are a result of the demand-supply scenario in the region. Hence, a similar volume-to revenue ratio does not follow for each individual region. Individual pricing of commercial seaweed for each application has been taken into account while estimating and forecasting market revenue on a global basis. Regional average price has been considered while breaking down the market into segments in each region.
The report provides the size of the commercial seaweed market in 2016 and the forecast for the next nine years up to 2025. The size of the global commercial seaweed market is provided in terms of both volume and revenue. Market volume is defined in kilo tons, while market revenue for regions is in US$ Mn. The market size and forecast for each product segment is provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications.
Global Commercial Seaweed Market: Segmentation
Market estimates for this study have been based on volume, with revenue being derived through regional pricing trends. The price for commonly utilized grades of commercial seaweed in each application has been considered, and customized product pricing has not been included. Demand for commercial seaweed has been derived by analyzing the global and regional demand for commercial seaweed in each application. The global commercial seaweed market has been analyzed based on expected demand. Market data for each segment is based on volume and corresponding revenues. Prices considered for calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors, and direct selling regional producers based on manufacturers’ feedback. Forecasts have been based on the expected demand from commercial seaweed. We have used the top-down approach to estimate the global commercial seaweed market, split into regions. The product type split of the market has been derived using a top-down approach for each regional market separately, with the global product type segment split being an integration of regional estimates. Companies were considered for the market share analysis based on their product portfolio, revenue, and manufacturing capacity. In the absence of specific data related to the sales of commercial seaweed of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.
Companies Mentioned in Report
The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report include Cargill Corporation (U.S.), E.I. Du Pont de Nemours and Company (U.S.), CP Kelco (U.S.), CEAMSA (Spain), Acadian Seaplants Ltd. (Canada), Gelymar SA (Chile), Seasol International Pvt Ltd (Australia), Brandt Agricultural Products Ltd (Canada), The Cornish Seaweed Company (U.K.), Leili Group (China).
The global commercial seaweed Market has been segmented into:
Global Commercial Seaweed Market: By Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- Latin America (LATAM)
- Rest of LATAM
Global Commercial Seaweed Market: By Product Type
- Red Seaweed
- Brown Seaweed
- Green Seaweed
Global Commercial Seaweed Market: By Form
Global Commercial Seaweed Market: By Application
- Animal Feed