Brown Commercial Seaweed Market Size By Form (Wet, Dry), By End Use (Food, Animal Feed {Poultry Feed, Swine, Aquaculture, Pet Food}, Pharmaceutical, Cosmetics & Personal Care, Biofuels, Bioplastics, Biochemicals, Biorefineries) & Forecast, 2023-2032
Report ID: GMI5429
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Published Date: February 2023
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Report Format: PDF
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Base Year: 2022
Companies covered: 13
Tables & Figures: 431
Countries covered: 23
Pages: 380
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Brown Commercial Seaweed Market
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Brown Commercial Seaweed Market Size
Brown Commercial Seaweed Market size valued at USD 16 billion in 2022 and is estimated to expand at over 8.5% CAGR from 2023 to 2032, given the product’s ability to improve blood sugar levels, among other health benefits.
Seaweed is gaining acceptance as a viable source of iodine, serving as a nutritious addition to the diet and providing multiple health benefits. Brown seaweed contains the fucoxanthin antioxidant that plays a vital role in improving blood sugar levels and reducing type 2 diabetes risks. These health benefits will promote the usage of the product as a key ingredient in dietary supplements and pharmaceutical products. Additionally, given the rapid growth of the pharmaceutical sector, the production of brown seaweed supplements is likely to gain momentum, especially in North America.
As per the EFPIA (European Federation of Pharmaceutical Industries & Associations), in 2021, North America represented close to half of the global pharmaceutical sector. To sustain their market position and retain existing customers, companies have also been making substantial investments in new products. These factors, alongside the increase in pharmaceutical R&D projects, will present lucrative growth opportunities for brown commercial seaweed development. However, the volatility in raw material costs and supply chain fluctuations may create roadblocks to the brown commercial seaweed market expansion.
Brown Commercial Seaweed Market Analysis
The dry form segment is predicted to register over 8% CAGR through 2032, driven by the extensive usage of dry seaweed as an animal feed additive, in toxic metal removal from industrial wastewater, and in laminaria digitate and agar production. The product is also utilized as a dietary iodine source, supporting thyroid glands, and protecting cells from damage. The increasing fund allocation to promote pharma manufacturing will therefore fuel the market demand.
The brown commercial seaweed market value from the food end-use segment will reach USD 32 billion by 2032, owing to the emergence of carrageenan seaweed as an ideal food additive. Due to its gelling and emulsifying properties, the product is also being added at low concentrations in dairy goods to prevent milk fractionation. Dairy intake has also witnessed an upsurge in developed economies. As per data from the USDA, in 2021, per capita consumption of dairy products rose by 12.4 pounds per person over the previous year, bolstering brown seaweed production.
Asia Pacific brown commercial seaweed industry value is projected to cross USD 25 billion by 2032, attributed to the growing demand for food additives in the region. Kombu, a brown algae seaweed widely consumed in East Asia, is being adopted in various preparations such as sauces, soups, and curries in powdered form. In recent years, there has also been a mounting number of oriental restaurants serving authentic Thai, Korean, Malaysian, and other Asian cuisines. These factors, along with the high awareness about the product’s capability to add nutrition and improve digestion, will proliferate sales of additives such as brown commercial seaweed in the APAC region.
Brown Commercial Seaweed Market Share
Some of the leading companies involved in the brown commercial seaweed market include
These companies are focusing on business developments, facility expansions, and other strategies to strengthen their foothold in the global market.
For instance, in October 2021, Mara Seaweed, a supplier of seaweed seasonings to supermarkets, secured an investment of over USD 698.4 million. This fund was expected to be invested in its factory in Fife, Edinburgh, to help the firm expand its business and explore new markets. Similar initiatives from other players will also assert a positive influence on global market trends.
Impact of COVID-19 Pandemic
Since the onset of the SARS-CoV-2 outbreak, several research studies have been conducted on materials that can inhibit virus replication, propagation, and infection, including marine bioactive compounds. Polyphenols from brown algae, known as phlorotannins, for example, are indicated to be an effective inhibitor of SARS-CoV-2 in silico. In addition, some studies have also revealed the potential of crude polysaccharides from seaweed in effectively limiting SARS-CoV-2 pseudovirus entry.
This brown commercial seaweed market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments:
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Market, By Form
Market, By End-use
Market, By Form
The above information has been provided for the following regions and countries: