Brown Commercial Seaweed Market
Get a free sample of this report
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Request Sectional Data
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Brown Commercial Seaweed Market size in 2022: | USD 16 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 8.7 |
| 2023 Value Projection: | USD 36 Billion |
| Historical Data for: | 2018 to 2022 |
| No of Pages: | 380 |
| Tables, Charts & Figures: | 431 |
| Segments Covered: | Form, End Use, and Region |
| Growth Drivers: |
|
| Pitfalls Challenges: |
|
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.
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.
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.
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.
Market, By Form
Market, By End-use
Market, By Form
The above information has been provided for the following regions and countries:
The market size of brown commercial seaweed crossed USD 16 billion in 2022 and will depict over 8.5% CAGR from 2023 to 2032, given the product
The dry segment is anticipated to grow at a CAGR of 8% between 2023 and 2032, led by the extensive usage of dry seaweed as an animal feed additive.
W Hydrocolloids, Inc., Marcel Carrageenan, Algea AS, Mara Seaweed, Pacific Harvest, Aquatic Chemicals, Chase Organics GB Limited, Seaweed Energy Solutions AS, and Indigrow Ltd. are some of the key participants in the industry.
The market value for brown commercial seaweed in APAC is poised to exceed USD 25 billion by 2032, considering the growing demand for food additives across the region.