Commercial Seaweed Market Size - By Product (Brown, Red, Green), By Form (Dry, Wet), By End User (Animal Feed, Food, Biofuels, Pharma & Personal Care) & Forecast, 2024-2032

Commercial Seaweed Market Size

Commercial Seaweed Market size was valued at USD 60.5 billion in 2023 and is anticipated to register 7.8% CAGR between 2024 and 2032, driven by the rising demand for seaweed-based products in various industries. Lately, seaweed is widely recognized for its nutritional benefits, making it an inclusion in multiple diets. The abundance of vitamins, minerals, antioxidants, and other essential nutrients has made it popular among health-conscious consumers who seek natural, sustainable food. Moreover, numerous cosmetic and personal care companies use seaweed extracts for their moisturizing and anti-aging properties.
 

The production of seaweed requires no fresh water or fertilizers, making it a sustainable agriculture practice with minimal environmental impacts. Coinciding with global efforts to address climate changes, it helps separate carbon and reduce ocean acidification.
 

For example, in February 2022, SeaWeed Naturals combined the benefits of restoratively farmed seaweed and marine algae with the cannabis plant. The collection of topical and edible wellness products united the land and sea through restorative practices.   Economically, seaweed production generates additional income for coastal communities and diversifies the marine economy. Innovations in agricultural technologies and methods have increased the efficiency and scalability of seaweed production with reduced costs and turning seaweed more accessible as raw materials for various purposes.
 

Seaweed farming requires specific environmental conditions, which can limit suitable farming locations and lead to inconsistent supply. The lack of standardized regulations and quality control mechanisms across industries is also posing a challenge, affecting market credibility and consumer confidence. Low consumer awareness and acceptance of seaweed products outside of traditional markets, and the need for significant investment in education and marketing may also restrict the product uptake to some extent.
 

Commercial Seaweed Market Trends

Numerous researchers and companies are increasingly examining the use of seaweed in renewable energy due to its rapid growth and high bioenergy potential, establishing it as an environmentally friendly alternative to fossil fuels. Seaweed-based bioplastics are being largely developed, providing a biodegradable solution towards plastic pollution. For instance, in February 2024, Sway launched a new breakthrough technology that made it easier to produce seaweed-based bioplastics commercially. The expanded medicinal use of seaweed, driven by the presence of bioactive compounds with anti-inflammatory and anti-carcinogenic properties will also open new avenues for the market growth.
 

Commercial Seaweed Market Analysis

Based on product, the market value from the red seaweed segment is expected to surpass USD 55.9 billion by 2032, due to its diverse applications and high economic value. Red seaweed is a major source of valuable hydrocolloids, such as agar and carrageenan, which are widely used as gelling, thickening and stabilizing agents in the food, pharmaceutical and cosmetic industries.
 

The demand for these natural additives is growing as consumers and manufacturers are looking for alternatives to synthetic ingredients. Innovations in red seaweed production and processing technologies are also improving yield and quality, making it more commercially viable, subsequently adding to the segment growth.

Based on end-user, the commercial seaweed market segmented into animal feed, food, biofuels, pharma & personal care. The food segment generated more than USD 20.2 billion in 2023 and is poised to record over 8.4% CAGR till 2032. Food utilizes seaweed as a versatile ingredient across various culinary applications. From sushi rolls to soups, salads, and snacks, seaweed adds unique flavors, textures, and nutritional benefits to dishes. With its rising popularity due to health-conscious consumer trends and its eco-friendly cultivation practices, seaweed is becoming increasingly integrated into diverse cuisines worldwide.
 

Based on form, the commercial seaweed market from the dry segment generated more than USD 49.2 billion in 2023 and will witness 7.6% CAGR through 2032, backed by its convenience, extended shelf life, and versatility across various applications. Drying marine waste reduces its weight and volume, making it easier to transport, store and is more cost-effective than organic seaweed. This process also preserves the nutritional and functional properties of seaweed, allowing it to be used in a wide range of applications, including food, feed, cosmetics and animal feed. Growing consumer demand for nutrient dense foods is also fueling the popularity of dried seaweed snacks and baked goods.
 

Asia Pacific commercial seaweed market size is poised to surpass USD 75.7 billion by the end of 2032. Government policies in countries, such as China and Indonesia are encouraging seaweed aquaculture in the region for providing a sustainable and reliable domestic supply. Increasing disposable incomes is creating a market for personal care products containing seaweed that are valued for their natural rejuvenating properties.
 

This consumer behavior along with supporting policies and product innovations is placing APAC at the forefront of marine bodybuilding commercialization and consumption. Seaweed extracts are further used as biofertilizers and bio stimulants for promoting plant growth and improving soil health, stimulating the regional market growth.
 

Commercial Seaweed Market Share

Leading commercial seaweed firms are increasing their production capacities to meet the growing demand and expanding geographically through mergers and acquisitions. Along with innovations, these companies are developing new seaweed-based products for the food, nutrition, and personal care industries. Sustainability is also a growing focus, as companies are adopting eco-friendly aquaculture practices to attract eco-conscious customers. Moreover, they are building strong distribution systems to ensure efficient distribution and price control.
 

Commercial Seaweed Market Companies

Major players operating in the commercial seaweed industry include:

• Indigrow Ltd.
• CP Kelco
• Seasol International
• Marcel Carrageenan 
• Seaweed Energy Solutions AS
• W Hydrocolloids, Inc.
• BIOSTADT INDIA LIMITED
• Algea AS
• Chase Organics GB Ltd.
• Mara Seaweed
• Pacific Harvest
• Aquatic Chemicals
• Acadian Seaplants Ltd. (ASL)
   

Commercial Seaweed Industry News

• In October 2023, Belize launched a pilot project to convert large amounts of hazardous sargassum seaweed that destroys its pristine beaches into biofuel.
   
• In August 2023, Seaweed Enterprises became a U.K. hub for sustainable seaweed production with plans for large-scale development.
   

The commercial seaweed market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Tons) from 2021 to 2032, for the following segments:

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Market, by Product

• Brown seaweed
• Red seaweed
• Green seaweed

Market, by Form

• Dry
• Wet

Market, by End-user

• Animal Feed
• Food
• Biofuels
• Pharma & personal care
• Others

The above information has been provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Norway
  • Ireland
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Chile
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Oman
  • UAE