The global Commercial Seaweeds Market size is expected to be reach USD 11.9 billion by 2027, expanding at a CAGR of 9.1% in forecast period.
Seaweed has several applications such as food, animal feed, pharmaceuticals, and fertilizers. The major applications of commercial seaweeds include human food, animal feed, and agriculture.
Major Key players Covered in The Commercial Seaweed Market Report including DowDuPont Inc. (Danisco), Cargill, Inc., CP Kelco, Corbion, Kerry Group PLC, FMC Corporation, Acadian Seaplants Limited, Gelymar S.A., Ocean Harvest Technology Limited, Roullier Group.
Recent developments in Norwegian finfish mariculture employ more than 7,500 people directly, with an additional 15,000 working in the aquaculture value chain. However, future growth must be sustainable; this is achievable ideally through the expanded farming of non-fed species like shellfish and seaweed. The sector could grow by a factor of five by 2050; a stimulus combined with stringent sustainability requirements would likely shorten this growth horizon.
Biofuels from seaweed could replace the entire use of fossil fuels in transportation or up to 24% of the demand for plant protein in 2050. Additional investment could unlock this potential to produce biomaterials in a regenerative way because seaweed creates habitats for fish, absorbs excess nutrients, sequesters carbon and does not need any freshwater or fertilizer input to grow.
Commercial Seaweed Market Size, Share and Global Trend by Product Type (Red Seaweed, Brown Seaweed, Green Seaweed), From (Flakes, Powder, Liquid), End User (Food and Beverage, Agricultural Fertilizer, Animal Feed Additives, Pharmaceuticals, Cosmetics and Personal Care) by region it has segmented into North America, Asia-Pacific, Europe And res of the world. The agriculture segment accounted for a market share of 8.5% in terms of revenue in 2019. Sea vegetables help in conditioning the soil by controlling the displacement of the upper layer of the soil. In North America, the market is anticipated to witness a CAGR of 8.8% over the forecast period owing to growth in harvesting of sea vegetables in the region.
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