Home > Food & Beverages > Proteins > Alternative Proteins > Commercial Seaweed Market

Commercial Seaweed Market Trends

Report ID: GMI1658
Published Date: Jun 2024
Report Format: PDF

Download Free Sample

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.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The market size of commercial seaweed reached USD 60.5 billion in 2023 and is set to witness 7.8% CAGR between 2024 and 2032, due to increasing demand for seaweeds in food applications and the growing demand for eco-friendly fertilizers.

The dry segment will grow at 7.6% CAGR from 2024 to 2032, as drug therapies are widely prescribed due to their convenience, extended shelf life, and versatility boosting demand in food, feed, cosmetics, and snacks.

APAC market will exceed USD 75.7 billion by 2032, driven by government policies, rising disposable incomes, and demand for seaweed in personal care, biofertilizers, and bio stimulants.

Indigrow Ltd., CP Kelco, Seasol International, Marcel Carrageenan , Seaweed Energy Solutions AS, W Hydrocolloids, Inc., BIOSTADT INDIA LIMITED, Algea AS and Chase Organics GB Ltd., among others.