Brown Commercial Seaweed Market Size

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.

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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.