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Commercial Seaweed Market Insights, Application Outlook and Forecast by 2025

Author : Rahul Sankrityayan | Published Date : 2019-10-07 

Global Market Insights, Inc. provides a detailed overview of Commercial Seaweed Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

The recent production capability augmentation drive of CP Kelco has generated a rather considerable anticipation across commercial seaweed market. The US based hydrocolloid solutions manufacturer has apparently concluded its Kelcogel gellan gum production competency revamp at its Oklahoma plant. Apparently, these processed seaweeds in the form of hydrocolloids have found extensive applications across the swiftly expanding food industry. It would be prudent to mention that hydrocolloids are being increasingly utilized as food additives in dairy, meat & poultry processing, desserts & jelly, and canned fish.

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Apart from making rapid headways in the food industry, seaweed products have found widespread acceptance across various other business sectors as well. Textile printing, waste water treatment, biofuel production, pharmaceutical & medical, paper & pulp, pet food, and other industry verticals have cropped up as prominent end-user sectors of commercial seaweed industry.

The most notable growth avenue for the commercial seaweed market has been built through the application of hydrocolloids extracted from seaweeds in the food industry. The commercial application of hydrocolloids was initially developed in North America and Europe. However, the development of commercial farming in Asia Pacific has changed the hydrocolloids industry structure. Indonesia in recent times, has emerged as one of the leaders in the agar and carrageenan seaweed producers while China has taken up a remarkably leading position in the seaweed hydrocolloids processor market.

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As the demand for seaweed hydrocolloid continues to grow and novel technologies for processing are developed, seaweed processing is expected to gain traction, in consequence, propelling commercial seaweed industry.

Seaweed extracts are also gaining eminence across pharmaceuticals, textile, cosmetics, paper products and biofuels. An interesting scientific discovery that will potentially widen the scope for commercial seaweed industry is the use of dried seaweed as an additive to cattle feed. Cows release a significant amount of methane into the atmosphere, a gas that is estimated to be approximately 25 times worse than carbon dioxide. Dried seaweed has been found to be effective in controlling the gas problem in cows and eliminating methane by 50 to 70 percent. Commercial seaweed market is also gaining traction through innovative cultivation that has developed seaweed tasting like bacon.

Commercial seaweed market has been thriving in Asia Pacific for the past many decades. The per capita consumption of seaweed in Japan currently is about 4 kg while China consumes around 2 to 2.5 kg. In consequence, Asia Pacific accounted for 75% of the entire commercial seaweed market share in 2016 and is expected to grow at a rapid pace over 2017-2024. Europe and North America have delved into the commercial seaweed industry comparatively recently, but the industry is projected to grow rapidly in these regions owing to the product’s massive application across myriad sectors.

Regional governments are not far behind when it comes to supporting the growth of commercial seaweed market. For instance, the US Department of Energy recently awarded $22 million to research teams to focus on the development of biofuel using seaweed. Aided by the participation of government bodies and industry players, commercial seaweed market is projected to witness a CAGR of 8% over 2017-2024. As per estimates, this business space is expected to surpass $87 billion by 2024.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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