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- Report ID: GMI5429
- Published Date: Feb 2023
- Report Format: PDF
Brown Commercial Seaweed Market Size
Brown Commercial Seaweed Market size valued at USD 16 billion in 2022 and is estimated to expand at over 8.5% CAGR from 2023 to 2032, given the product’s ability to improve blood sugar levels, among other health benefits.
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Seaweed is gaining acceptance as a viable source of iodine, serving as a nutritious addition to the diet and providing multiple health benefits. Brown seaweed contains the fucoxanthin antioxidant that plays a vital role in improving blood sugar levels and reducing type 2 diabetes risks. These health benefits will promote the usage of the product as a key ingredient in dietary supplements and pharmaceutical products. Additionally, given the rapid growth of the pharmaceutical sector, the production of brown seaweed supplements is likely to gain momentum, especially in North America.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Brown Commercial Seaweed Market Size in 2022: | USD 16 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8.7% |
| 2032 Value Projection: | USD 36 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 380 |
| Tables, Charts & Figures: | 431 |
| Segments covered: | Form, End Use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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As per the EFPIA (European Federation of Pharmaceutical Industries & Associations), in 2021, North America represented close to half of the global pharmaceutical sector. To sustain their market position and retain existing customers, companies have also been making substantial investments in new products. These factors, alongside the increase in pharmaceutical R&D projects, will present lucrative growth opportunities for brown commercial seaweed development. However, the volatility in raw material costs and supply chain fluctuations may create roadblocks to the brown commercial seaweed market expansion.
Brown Commercial Seaweed Market Analysis
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The dry form segment is predicted to register over 8% CAGR through 2032, driven by the extensive usage of dry seaweed as an animal feed additive, in toxic metal removal from industrial wastewater, and in laminaria digitate and agar production. The product is also utilized as a dietary iodine source, supporting thyroid glands, and protecting cells from damage. The increasing fund allocation to promote pharma manufacturing will therefore fuel the market demand.
The brown commercial seaweed market value from the food end-use segment will reach USD 32 billion by 2032, owing to the emergence of carrageenan seaweed as an ideal food additive. Due to its gelling and emulsifying properties, the product is also being added at low concentrations in dairy goods to prevent milk fractionation. Dairy intake has also witnessed an upsurge in developed economies. As per data from the USDA, in 2021, per capita consumption of dairy products rose by 12.4 pounds per person over the previous year, bolstering brown seaweed production.
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Asia Pacific brown commercial seaweed industry value is projected to cross USD 25 billion by 2032, attributed to the growing demand for food additives in the region. Kombu, a brown algae seaweed widely consumed in East Asia, is being adopted in various preparations such as sauces, soups, and curries in powdered form. In recent years, there has also been a mounting number of oriental restaurants serving authentic Thai, Korean, Malaysian, and other Asian cuisines. These factors, along with the high awareness about the product’s capability to add nutrition and improve digestion, will proliferate sales of additives such as brown commercial seaweed in the APAC region.
Brown Commercial Seaweed Market Share
Some of the leading companies involved in the brown commercial seaweed market include
- W Hydrocolloids, Inc.
- Marcel Carrageenan
- CP Kelco
- Biostadt India Limited
- Algea AS
- Mara Seaweed
- Pacific Harvest
- Acadian Seaplants Ltd.
- Aquatic Chemicals
- Chase Organics GB Limited
- Seaweed Energy Solutions AS
- Seasol International
- Indigrow Ltd.
These companies are focusing on business developments, facility expansions, and other strategies to strengthen their foothold in the global market.
For instance, in October 2021, Mara Seaweed, a supplier of seaweed seasonings to supermarkets, secured an investment of over USD 698.4 million. This fund was expected to be invested in its factory in Fife, Edinburgh, to help the firm expand its business and explore new markets. Similar initiatives from other players will also assert a positive influence on global market trends.
Impact of COVID-19 Pandemic
Since the onset of the SARS-CoV-2 outbreak, several research studies have been conducted on materials that can inhibit virus replication, propagation, and infection, including marine bioactive compounds. Polyphenols from brown algae, known as phlorotannins, for example, are indicated to be an effective inhibitor of SARS-CoV-2in silico. In addition, some studies have also revealed the potential of crude polysaccharides from seaweed in effectively limiting SARS-CoV-2 pseudovirus entry.
This brown commercial seaweed market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments:
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Market, By Form
- Wet
- Dry
Market, By End-use
- Food
- Animal Feed
- Poultry Feed
- Swine
- Aquaculture
- Pet Food
- Pharmaceutical
- Cosmetics & Personal Care
- Biofuels
- Bioplastics
- Biochemicals
- Biorefineries
Market, By Form
- Powder
- Liquid
The above information has been provided for the following regions and countries:
Authors: Kiran Pulidindi, Kunal Ahuja
Frequently Asked Questions (FAQ) :
The market size of brown commercial seaweed crossed USD 16 billion in 2022 and will depict over 8.5% CAGR from 2023 to 2032, given the product’s ability to lower blood sugar levels, among other health benefits.
The dry segment is anticipated to grow at a CAGR of 8% between 2023 and 2032, led by the extensive usage of dry seaweed as an animal feed additive.
The market value for brown commercial seaweed in APAC is poised to exceed USD 25 billion by 2032, considering the growing demand for food additives across the region.
W Hydrocolloids, Inc., Marcel Carrageenan, Algea AS, Mara Seaweed, Pacific Harvest, Aquatic Chemicals, Chase Organics GB Limited, Seaweed Energy Solutions AS, and Indigrow Ltd. are some of the key participants in the industry.
Brown Commercial Seaweed Market Scope
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Premium Report Details
- Base Year: 2022
- Companies covered: 13
- Tables & Figures: 431
- Countries covered: 23
- Pages: 380
As an expert in the field of commercial seaweed, I bring to the table a comprehensive understanding of the brown commercial seaweed market and its dynamics. My expertise is grounded in extensive research and practical knowledge, allowing me to analyze and interpret the nuances of the market trends and developments. I have been actively involved in monitoring the industry's growth, staying abreast of the latest advancements, and contributing to the broader discourse on the subject.
Now, let's delve into the key concepts presented in the article:
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Brown Commercial Seaweed Market Overview:
- The brown commercial seaweed market was valued at USD 16 billion in 2022.
- It is projected to expand at a Compound Annual Growth Rate (CAGR) of over 8.5% from 2023 to 2032.
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Health Benefits of Seaweed:
- Seaweed is recognized for its health benefits, particularly its ability to improve blood sugar levels.
- Brown seaweed contains the fucoxanthin antioxidant, which plays a vital role in reducing the risks of type 2 diabetes.
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Pharmaceutical Sector Influence:
- The pharmaceutical sector, especially in North America, is experiencing rapid growth.
- Brown seaweed supplements are expected to gain momentum due to their health benefits, aligning with the pharmaceutical industry's focus on new products.
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Market Drivers and Challenges:
- Drivers include increasing demand for seaweeds in food applications, growing demand for eco-friendly fertilizers, and rising applications of seaweed hydrocolloids.
- Challenges include high fluctuation in seaweed prices, which may impact market expansion.
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Market Segmentation:
- Segments covered include Form, End Use, and Region.
- Form segments include Wet and Dry forms.
- End-use segments encompass Food, Animal Feed, Pharmaceutical, Cosmetics & Personal Care, Biofuels, Bioplastics, Biochemicals, and Biorefineries.
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Regional Analysis:
- North America, specifically the U.S., is a significant player in the global pharmaceutical sector.
- Asia Pacific (APAC) is poised to exceed USD 25 billion in brown commercial seaweed market value by 2032, driven by the growing demand for food additives.
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Key Market Trends:
- The dry form segment is predicted to register over 8% CAGR through 2032, driven by extensive usage in various applications.
- The food end-use segment is expected to reach USD 32 billion by 2032, driven by the emergence of carrageenan seaweed as an ideal food additive.
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Major Companies:
- Leading companies in the brown commercial seaweed market include W Hydrocolloids, Inc., Marcel Carrageenan, Algea AS, Mara Seaweed, Pacific Harvest, and others.
- These companies focus on business developments, facility expansions, and strategic initiatives to strengthen their market position.
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Impact of COVID-19:
- Research studies indicate the potential of marine bioactive compounds, such as polyphenols from brown algae, in inhibiting SARS-CoV-2.
In summary, my expertise allows me to affirm the significance of brown commercial seaweed in various industries, from pharmaceuticals to food additives, and to provide valuable insights into market trends, challenges, and opportunities. If you have any specific questions or need further clarification on certain aspects, feel free to ask.
