What is the Size of Global Commercial Seaweed Industry?
The Commercial Seaweed Market is largely driven by adoption of commercial seaweed in the food and beverage industry.
Seaweed is highly rich in vitamins and minerals, which have many health benefits such as support thyroid function, help in reducing body weight, and reduce the risk of heart diseases.
In September 2022, Central Marine Fisheries Research Institute (CMFRI) a research institute in Kerala, India developed a remedy called Cadalmin TM LivCure extract made out of seaweed for fighting against fatty liver diseases that include obesity and type 2 diabetes.
The high cost of seaweed cultivation is hindering the growth of the global commercial seaweed market.
Water contamination has greatly risen recently which creates many difficulties while collecting algae from ocean bottoms, which raises the price of seaweed at the market. However, government involvement in seaweed production i.e., helping help farmers and manufacturers meet the rising demand from the food & beverage industry is likely to overcome this challenge.
The COVID-19 pandemic slowed the growth of the global commercial seaweed market, owing to the reduction in demand for seaweed as raw material from agricultural, cosmetics, and food & beverage industries. As a result, production showed a decline in the global commercial seaweed market.
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Global Commercial Seaweed Market By Product
The Global Commercial Seaweed market is segmented by Product into Brown Seaweed, Green Seaweed and Red Seaweed. The red seaweed segment by product held the largest market share in 2022 in the global commercial seaweed market. Red seaweed dominates the market owing to its multiple operating properties. It is most commonly available and contains high amounts of vitamins and proteins. Red seaweed is used for creating Carrageenan i.e. an additive used to thicken and preserve foods and drinks.
In March 2021, Marine biologists from the Central University of Punjab discovered two new species of red seaweed from the west and south-east coast of India called Hypnea indica and Hypnea bullata.
Global Commercial Seaweed Market By Form
The Global Commercial Seaweed market is segmented by Form into Powder, Liquid and Flakes.
The powdered segment by form held the largest market share in 2022 in the global commercial seaweed market.
The growth is primarily due to the easy portability and simple utilization of seaweed in powder form. Seaweed powder is majorly used in the food and cosmetics industries, the process of removing water from seaweed significantly increases its shelf life i.e. specific time duration for which a product may be stored without becoming unfit for use, sold, or consumed.
The shelf life of seaweed is a maximum of up to 60 days while the powder seaweed shelf life is up to one year as dried seaweed never rots.
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Global Commercial Seaweed Market By Application
The Global Commercial Seaweed market is segmented by Application into Food and Beverages, Agricultural Products, Animal Feed Additives, Pharmaceuticals and Others.
The food and beverage segment accounted for the largest market share in the application segment in 2022 for the global commercial seaweed market.
Seaweed is mainly used in the food and beverage industry as seaweed is majorly used as a thickening agent in various food products such as ice creams, soups, and yogurts.
Seaweed is highly rich in vitamins, minerals, and proteins, thus is the main source of vitamin B12 and iodine, which help to fight diseases like hypothyroidism and anemia.
For more insights on the market intelligence, refer to the link below:-
Global Commercial Seaweed Market
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