Brown Commercial Seaweed Market size to reach $36 Bn by 2032

Brown Commercial Seaweed Market size is anticipated to cross USD 36 billion by 2032, according to a new research report by Global Market Insights Inc.
 

The report states that the rapid population growth and evolving processed food trends are prominent drivers for brown commercial seaweed demand. Based on survey data from the Ministry of Agriculture, Food and Rural Affairs of South Korea, in 2021, 23.7% of households purchased processed goods two to three times per week, a 3.1% rise from 2020. Since seaweeds are nutrient-dense and extensively used as a processed good ingredient, the rise in consumer spending will also bolster the industry outlook. Furthermore, the shifting preference toward clean labels will escalate the use of seaweed as organic fertilizers in agriculture applications.
 

Growing popularity of Asian cuisines will augment sales of wet brown commercial seaweed

The brown commercial seaweed market share from the wet form segment is projected to exhibit over 9% CAGR through 2032. Wet brown seaweed is gaining rapid momentum as a raw material in the hydrocolloid industry, owing to its high vitamin and mineral content. Cadmium, zinc, cobalt, nickel, and other trace elements are also present in seaweeds, making them suitable for various end-use applications including foods and beverages. Furthermore, the increasing popularity of Asian cuisines will boost the consumption of wet seaweed with sushi and other food items.
 

Rising poultry meat intake to hasten the development of brown seaweed for feed applications

The poultry feed end-use segment is set to surpass USD 340 million by 2032, owing to its capability to improve the immune system of poultry livestock. Brown seaweed can lower the microbial load in the digestive tract and increase poultry meat and egg quality. Furthermore, the maintenance of diets rich in seaweed is associated with reduced body weight in poultry. Poultry has also become the most consumed livestock commodity, especially in emerging and developing nations.
 

Browse key industry insights spread across 380 pages with 395 market data tables and 36 figures & charts from the report, “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), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023–2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/brown-commercial-seaweed-market
 

Increase in pharma spending may spur brown seaweed supplement production in North America

The North America brown commercial seaweed industry value is poised to depict over 8% CAGR from 2032 to 2032, driven by continuous R&D projects and sizeable investments in the pharmaceutical sector. As per data from the Canadian Institute for Health Information, public drug programs spent USD 16.2 billion in 2021, indicating a rise of 7.4% from 2020. Since seaweed intake is associated with health benefits including blood pressure and cholesterol reduction, the rise in pharma spending will fuel the sales of brown seaweed-based pills and supplement in the region.
 

Business expansion strategies by key players will influence the industry outlook

Some of the leading companies involved in the brown commercial seaweed market include Marcel Carrageenan, CP Kelco, Biostadt India Limited, Pacific Harvest, Acadian Seaplants Ltd., Aquatic Chemicals, Chase Organics GB Limited, Seaweed Energy Solutions AS, and Seasol International. These companies are incorporating strategies such as business expansions and new product launches to establish a strong presence in the industry.
 

For instance, in January 2023, Seaweed Energy Solutions AS secured funding worth USD 4.76 million from private investors and the U.S. World Wildlife Fund. This fund was intended to help the company ramp up its production and become a leading seaweed provider in Europe and globally.