NEW YORK, Nov. 27, 2023 /PRNewswire/ — The seaweed market size is expected to grow by USD 4.75 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.64% during the forecast period. Increasing marketing strategies is notably driving the seaweed market. However, factors such as health risks associated with the consumption of seaweed may impede market growth. The market is segmented by product (red seaweed, brown seaweed, and green seaweed ), application (agriculture, animal feed, and human food ), and geography (APAC, Europe, North America, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The free sample report is available in PDF format
Key Segment Analysis
- The market share growth by red seaweed is significant during the forecast period. The growing use of seaweed in foods is fuelling the growth of this segment. In addition, there is a rising demand for seaweed with the increasing awareness of the health benefits of seaweed consumption. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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Geographical Market Analysis
- APAC accounts for 67% of the market growth during the forecast period. China, Japan, South Korea, and Indonesia are some of the main countries that are significantly contributing to the growth of the market in APAC. Factors such as the rise in consumption of seaweed both for human food and animal feed are fuelling the market growth in APAC. Furthermore, there is rising adoption of seaweed across industries including paints, medicine, chemicals, textile printing, and agriculture. Hence, such factors are driving the market growth in APAC during the forecast period.
Company Insights
The seaweed market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including Acadian Seaplants Ltd., Biostadt India Ltd., Branded Garden Products Ltd., BRANDT Inc., Cargill Inc., Compagnie Financiere et de Participations Roullier, COMPO EXPERT GmbH, Corbion nv, De Smaakspecialist, DuluxGroup Australia Pty Ltd., DuPont de Nemours Inc., Gelymar SA, gimMe Health Foods Inc., Indigrow Ltd., Irish Seaweeds, J M Huber Corp., Maine Coast Sea Vegetables Inc., Ocean Harvest Technology Ltd., West Coast Marine Bio Processing Corp., and Beijing Leili Agricultural Co. Ltd
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Seaweed Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.64% |
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Market growth 2023-2027 |
USD 4.75 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
6.34 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 67% |
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Key countries |
US, China, Indonesia, Japan, and South Korea |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Customization purview |
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
