Commercial Seaweeds: Key Players in the Market

The global commercial seaweeds market is estimated to USD 14.08 billion in 2018, and it is projected to reach USD 21.11 billion by 2023, at a CAGR of 8.4% from 2018. The key players identified in the commercial seaweeds market include Cargill (US), DowDuPont (US), Roullier Group (France), COMPO EXPERT (Germany), Biostadt India (India), CP Kelco (US), Acadian Seaplants (Canada), CEAMSA (Spain), Algaia (France), BRANDT (US), Seasol International (Australia), and Gelymar (Chile).

Seaweeds are a rich source of phytochemicals that include antimicrobial and antioxidant properties. The fibers and minerals in seaweeds add mineral content and improve the quality of food products. Moreover, seaweeds contain high proportions of polysaccharides, with other potential components, such as essential fatty acids, proteins, and long-chain n-3 polyunsaturated fatty acids (PUFA). Due to the health benefiting properties of functional ingredients in seaweeds, the demand for the commercial seaweeds remains high across regions. In addition, increasing use of seaweeds as feed and biostimulant for plant growth is also driving the market.

Cargill (US), Algaia (France), BRANDT (US), Acadian Seaplants (Canada), and Gelymar (Chile) are some of the key players that adopted strategies such as expansions & investments, acquisitions, new product launches, and partnerships & agreements with other players to strengthen their business, explore new & untapped markets, expand in local areas of emerging markets, and develop a new customer base for long-term client relationships.

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DowDuPont (US)

DowDuPont is a combined entity of Dow and DuPont that offers innovative solutions pertaining to agriculture, specialty products, and material science. The company operates through eight business segments, namely, agriculture, packaging & specialty plastic, industrial intermediates & infrastructure, nutrition & bioscience, electronics & imaging, performance materials & coatings, safety & construction, and transportation & advanced polymers. The specialty product division of the company includes nutrition and bioscience, which offers two operating segments–industrial bioscience and nutrition & health. The nutrition & health segment offers seaweed-based products that find application in dairy products, bakery products, and fruits & vegetable preparations for thickening, gelling, texturizing, stabilizing, and flavoring purposes. These products are also used in wound care and dental fixtures.

The company mainly focuses on developing innovative and new products and solutions to meet the requirements of the food industry and underscore profitable opportunities in the seaweeds market. For instance, DowDuPont acquired health & nutrition business of the FMC Corporation (US), to expand its product portfolio of alginates in November 2017.

Cargill (US)

Cargill (US) is involved in manufacturing and marketing of food, agricultural, financial & industrial, and animal nutrition & protein products. The company offers food ingredients through its food & beverage ingredients business segment. It offers a wide range of carrageenan products to the food, pharmaceutical, and cosmetic industries. The company is operating in 70 countries and has its R&D centers in Europe, North America, and Latin America that provide services in various countries of Africa, Europe, Asia, Latin America, North America, and the Middle East, and improves its global presence significantly.

The company is focusing on helping farmers to increase productivity in the field of agriculture and contribute to sustainable product development. In addition, the company has a strong technology-driven approach to connect and grow with customers. It is increasingly investing in the R&D activities for product innovation. For instance, in May 2017, Cargill launched a new ingredient–ADG 0220 Seabrid, particularly for application in dairy products. Seabrid is an innovative carrageenan extract that is used to provide firmness and creaminess to dairy desserts.

The brown seaweeds segment is projected to be the fastest growing in commercial seaweeds market through 2023

In 2018, the brown seaweeds segment is estimated to account for the largest share, by type, in the commercial seaweeds market, in terms of value. The inclusion of brown seaweeds in food helps in improving the joint and bone health, aids in digestion, balances hormones, and reduces hypothyroidism, fatigue, menstrual problems, cellulite, cough, asthma, stomach ailments, headaches, and hemorrhoids. In addition, consumption of brown seaweeds prevents the growth of cancer cells, helps in weight management, and protects from the adverse effects of radiation due to contact with hazardous electromagnetic pollution. Furthermore, increasing usage of alginates, extracted only from brown seaweeds in dental material has led companies to mainly manufacture alginates from brown seaweeds.

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The food segment to dominate the commercial seaweeds market through 2023

Seaweed is used as an ingredient in food products and is consumed directly in countries such as Japan, Korea, and China since ancient times. As it is rich in nutrients such as high iodine, calcium, magnesium, iron, vitamin, antioxidant, and fiber, seaweed, is widely considered a healthy food. Moreover, seaweeds have various applications as a thickening and gelling agent in processed food products such as sausages, bread, creams, cheese, dairy drinks, and candies. In addition, the use of seaweeds for the manufacturing of low-calorie ice creams and cakes is further projected to fuel the market growth.

Asia Pacific is projected to dominate the regional commercial seaweeds market through 2023

Due to the increasing presence of tropical rainforests in the Asia Pacific, various species of seaweeds are found in this region. With a wide variety of seaweed species in this region and increasing production of the seaweed-based products, Asia Pacific remains the largest supplier of seaweeds to both domestic and export markets. In addition, the bulk of seaweeds in this region is obtained from culturing (harvested through aquaculture). The key seaweed types that are in demand in this region include nori, kombu, and wakame. They are increasingly used in food preparations in the Chinese and Japanese diets. As seaweeds are nutrition-dense and are increasingly used as an ingredient in processed food, consumers prefer spending on processed food for healthy diets. The demand for clean labels and organic products is on the rise, which is also leading to the increasing use of seaweeds as organic fertilizers in the agriculture industry. The other industrial applications of seaweeds in the region include pharmaceuticals, agriculture, cosmetics, biofuel, and feed additives. These factors are projected to fuel the growth of the commercial seaweeds market in the Asia Pacific. Of the various countries in the Asia Pacific, China and Indonesia are projected to account for a major share of the market.