Sustainable Growth Opportunities in the Seaweed Cultivation Market
by Mit K. SEOThe report “Seaweed
Cultivation Market by Type (Red, Brown, Green), Method of Harvesting
(Aquaculture, Wild Harvesting), Form (Liquid, Powder, Flakes, Sheets), Application
(Food, Feed, Agriculture, Pharmaceuticals), and Region – Global Forecast to
2025“, The market size is estimated to be valued at USD 16.7
billion in 2020 and is projected to reach USD 30.2 billion by 2025, recording a
CAGR of 12.6% during the forecast period, in terms of value. Seaweeds are
plant-like organisms that are also known as marine microalgae; they are
generally attached to a rock or other hard substratum in coastal areas. The
classification of seaweeds is based on various properties, such as
pigmentation, the organization of photosynthetic membranes, the chemical nature
of the photosynthetic storage product, and other morphological features. The
application of seaweeds dates back to the fourth and sixth centuries in Japan
and China, respectively. Since then, increasing investment and focus on R&D
activities pertaining to seaweed were undertaken globally, which encouraged the
cultivation of seaweeds. Currently, seaweeds account for more than 90% of the
global market’s demand.
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Browse in-depth TOC on “Seaweed Cultivation
Market”
146 – Tables
52 – Figures
210 – Pages
The green seaweeds segment
is projected to be the fastest growing, in terms of value, during the forecast
period.
The emerging
use of green seaweeds in other application areas such as biofuel production and
wastewater treatment is expected to drive the market growth further.
Initiatives by the UK Department of Transport to double the use of biofuel in
2020 are expected to have a positive impact on the demand for green seaweeds.
Green seaweeds such as Ulva and Enteromorpha
are used for the removal of toxins from industrial wastewater. It is also used
as a bioremediation tool.
The food segment is
projected to account for a major share in the market during the forecast period
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.
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Asia Pacific is projected
to dominate the regional seaweed cultivation market through 2025
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 seaweed cultivation 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.
Key Players:
This report
includes a study on the marketing and development strategies, along with the
product portfolios of leading companies. It consists of profiles of leading
companies, such as Cargill, Incorporated (US), DuPont (US), Groupe Roullier
(France), CP Kelco U.S., Inc. (US), Acadian Seaplants (US), Qingdao Gather
Great Ocean Algae Industry Group (China), Qingdao Seawin Biotech Group Co. Ltd.
(China), Qingdao Bright Moon Seaweed Group Co. (China), Seaweed Energy
Solutions AS (Norway), The Seaweed Company (Netherlands), Algea (Norway), Seasol
(Australia), Gelymar (Chile), Algaia (France), CEAMSA (Spain), COMPO EXPERT
(Germany), Leili (China), Irish Seaweeds (Ireland) and AtSeaNova (Belgium).
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Created on Jan 29th 2021 06:21. Viewed 280 times.