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.
U.S. Commercial Seaweed Market Size, by End-Users, 2013 - 2024 (USD Million)
Consequentially, the growing instances of major market players focusing on enhancing manufacturing capacities has emerged as one of the most pivotal factors to have propelled the commercial seaweed industry size expansion in the recent years. In fact, as per a research report compiled by Global Market Insights, Inc., the market share of this fast-evolving and noteworthy niche vertical of food, nutrition, and animal feed industry was claimed to be a staggering USD 45 billion in 2016.
Research and development endeavors to impact the commercial seaweed industry growth trends
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.
It goes without mentioning that the persistent research activities being undertaken by commercial seaweed market players have aided in speedy product penetration. Enlisted below are a few instances that demonstrate the growing influence of research and development ventures that aim to bring about massive altercations across commercial seaweed industry space:
Complementing the massive R&D activities across the globe, it has also been observed that the emergence of new extraction and processing technologies of seaweed-derived biofuels has impelled the growth potential of commercial seaweed market in the recent past. This is in addition to the rising demand of seaweed products across numerous end use segments including animal feed, fertilizer production, food and beverages, textile, and paper, which would further drive the commercial seaweed industry share expansion over the forecast time frame.