31 October 2019
Visiongain has launched a new Consumer Goods report Commercial seaweed marketReport 2019-2029 Forecasts by Product (Red Seaweed, Green Seaweed, Brown Seaweed), by Form (Powder, Liquid, Flakes), by End User (Food & Beverages, Animal Feed, Pharma & Personal Care, Biofuels), PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global Commercial seaweed market is expected to grow at a lucrative rate during the forecast period. The key factors driving the market include numerous health benefits such high nutrition content, good source of minerals, vitamins, and antioxidants, easy availability, and growing economy resulting in high spending by consumers. Moreover, these seaweeds are also known to aid in weight loss, therefore gaining traction among heart disease and diabetes patients. Consumers across the world are becoming more aware of their eating habits and are ready to spend extra money on healthy food options. However, regulatory concerns regarding the approval of these products may be a cause of concern for the growth of Commercial seaweed market over the forecast period. Geographically, North America is also expected to witness a high growth rate over the forecast period. Asia Pacific is expected to register lucrative growth over the forecast period driven by high production and consumption of commercial seaweeds. At present, China is the largest seaweed producer, followed by Korea and Japan. The rising popularity of Southeast Asian cuisines globally, where seaweeds are extensively used, is also expected to drive the global seaweed market.
Red seaweed derivatives such as Carrageenan are widely used in the food and beverage industry as thickeners, and as protein stabilizers in all kinds of processed foods. These seaweeds are also often used as a substitute to prepare gelatin-free food for vegan people, thereby boosting the demand. Such beneficial properties of edible seaweeds has opened up new prospects for the food processing industry. Rise in seaweed harvesting is also expected to cater to the growing demand seaweed based products. The growing demand of these products coupled with growing economy has also created alternative livelihood opportunities in the field of seaweed farming.
Commercial seaweeds, especially those derived from red seaweed are also gaining traction in the pharma and medical industry as gelling agent in preparation of drug delivery systems. Usage of these products aids in controlled release of drugs and prolonged retention. Furthermore, these seaweeds are also used for tissue regeneration and for cell delivery. Powdered form of seaweeds are also used in the beauty industry as masks or scrubs. Rapid uptake of seaweeds in food and beverage industry and growing awareness regarding their use in the beauty industry is also expected to propel the market growth.
Key players such as Cargill, Inc., CP Kelco, Roullier Group, Compo GmbH & Co., Biostadt India, DuPont de Nemours, Inc. are currently dominating the market. Key players are focusing on new product launches, promotions, and strategic alliances in order to expand their portfolio and strengthen their position in the market. The commercial seaweed market is a highly competitive market with only few dominant players. With the growing demand, small players are also venturing in commercial seaweeds market. For instance, France based seaweed company, Brittany, won an award for Best Retail product Seafood Expo Global in Brussels, Belgium in 2017. The company markets two kinds of marinated seaweeds, which are high in demand among consumers.
Some of the other companies operating in the market include Brandt Consolidated, Inc., Acadian Seaplants, Gelymar, Season International, and Algae the arctic company. These players are focussing on introducing novel products to carve their position in the global Commercial seaweed market.
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