DUBLIN, DUBLIN -- (SBWire) -- 02/25/2021 --Global Commercial Seaweed Market:
Key Drivers
The global commercial seaweed market is projected to witness strong demand in the near future. This is mainly due to the accelerating adoption of commercial seaweed as Hydrocolloids, specifically in the food industry. Various seaweed-produced hydrocolloids are often used to improve the thickness and stability of food products. Seaweeds are considered a rich source of biochemicals such as amino acids, proteins, lipids, peptides, minerals, etc. In addition to this, the rising awareness related to animal welfare followed by environmental sustainability has encouraged individuals to consume plant-based products.
The consumption of commercial seaweed as a food product has been traced back to the 4th century in Japan and 6th century in China. South Korea, China, and Japan are the top consumers of the product. Various research related to the lifecycle of commercial sea vegetables has helped in the development of cultivation industries, which are now producing around 85 percent of the overall demand.
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Global Commercial Seaweed Market's leading Manufacturers:
- FENTIMANS
- Fever-Tree
- Keurig Dr Pepper
- Q MIXERS
- THE COCA-COLA COMPANY
- White Rock Products Corporation
- Zevia
- Asahi Group Holdings, Ltd.
- Hansen Beverage
- Bradleys Tonic Co.
Global Commercial Seaweed Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Type Segment Drivers
Based on type, the red seaweed segment is projected to grow at a higher CAGR during the forecast period. The increasing usage of red seaweed, as it offers various remarkable properties such as a good source of vitamins and mineral, and contains iodine and tyrosine, is one of the biggest factors that is contributing to the growth of the segment in the market. On the other hand, the brown seaweed segment is anticipated to dominate the market in the coming years. The accelerating utilization of brown seaweed as food and raw materials for the extraction of hydrocolloid and alginate is surging the demand of the segment. They are found in warmer waters and are less used for alginate production.
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Form Segment Drivers
On the basis of form, the liquid form of commercial seaweed is projected to dominate the market during the forecast period. The liquid form is increasingly used as foliar fertilizer and soil conditioner for plants as it offers minerals, vitamins, potassium, and enzymes that facilitate the plant's growth. On the other hand, the powdered form of commercial seaweed is expected to grow at a higher CAGR during the forecast period. The rising application of this form in cosmetics and food products is driving the segment growth.
Global Commercial Seaweed Market Segmentation:
Segmentation by Type:
- Red Seaweed
- Brown Seaweed
- Green Seaweed
Segmentation by Method of Harvesting:
- Aquaculture
- Wild harvesting
Segmentation by Form:
- Liquid
- Powder
- Flakes
Segmentation by Application:
- Food
o Dairy products
o Meat & poultry products
o Bakery products
o Confectionery products
o Others
- Feed
- Agriculture
- Others
Segmentation by Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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Commercial Seaweed Market Size & Trends Analysis : Industry Forecast Report, 2020-2027
Global Commercial Seaweed Market reveals that the market is slated to register a higher CAGR over the forecast period. This is mainly due to the increasing adoption of edible seaweed as they offer functional features and the growing applications related to seaweed, such as in paper, nutraceuticals, pharmaceuticals, and the cosmetics sector.