Green Seaweed Market Size (2024 – 2030)

The Green Seaweed Market was valued at USD 20.15 billion in 2023 and is projected to reach a market size of USD 48.29 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 13.3%. 

The seaweed market has seen critical development lately attributable to its rising interest in different enterprises like food, creature feed, and drugs/pharmaceuticals. Seaweed is a form of macroalgae, which is a group of large and multicellular seaweed species that are typically determined/found in shallow coastal waters. Seaweed cultivation refers to the method of developing algae and different marine-based species. In order to develop, seaweed farms devour nutrients and carbon dioxide. Such farms can contribute to making improvements to water and mitigating the outcomes of ocean acidification inside the neighborhood.

Key Market Insights:

Increasing demand for commercial seaweed from various end-use industries such as foods and beverages, agriculture, and others is driving the growth of the seaweed market. In the foreseen future/time green seaweed is going to dominate the market over the forecasted period. As per the supply-demand chain, human consumption is going to continue its lead in the seaweed market as it holds a 92% share in terms of revenue.

Green Seaweed Market Drivers:

Rising government initiatives to increase seaweed cultivation are driving global market sales.

Seaweed cultivation will help the lives of coastal fisher families, particularly fisherwomen, farmers, and entrepreneurs if seaweed is cultivated. Many governments around the world have set up policies and offer funds to support the seaweed industry. The Chinese government is encouraging seaweed industry developments supported by policies, finance, and funds. Under the pressure of serious environmental and ecological issues, the Chinese national government has started the seaweed industry restructure. The Chinese aquaculture industry would move into a stable and slow increase period. The seaweed-based industries in India are facing problems due to the short supply of raw materials. The Indian government has set up a fund to strengthen seaweed cultivation in the country. Indonesia, one of the potential producers of seaweed, also takes initiatives towards modernization and development of their seaweed industry to fetch more export earnings and improve the livelihoods of coastal communities. Enhancement of post-harvest and processing technologies were among the programs launched by the government. As a result, many small fishermen in Indonesia switched from fishing to seaweed farming to make more money with due regard to the wider marine environment, the Scottish Government is supportive of the sustainable growth of aquaculture. Cultivation is included in the support and development of traditional aquaculture sectors. The seaweed market’s growth is anticipated to be driven by rising government initiatives to increase seaweed cultivation.

Increasing Consumption of Seaweed-Based Products is boosting market growth.

Several seaweed species are used in Europe. Seaweed-based products are gaining popularity in Western countries due to their health benefits. Health benefits are a key growth factor for seaweed-based products in Europe. In Ireland, Scotland, Wales, and Norway, seaweed has been traditionally used as a food source for centuries, and it continues to be an important part of the local cuisine and has been used as a food source for hundreds of years. The seasoning of fish and meat with seaweed is used in many dishes. Seaweed is less popular in Europe than in the US. There has been a recent trend towards incorporating seaweed into the European diet due to its potential as a sustainable food source. Seaweed is a good source of vitamins and minerals and can be used as a source of food. For centuries, seaweed has been popular in Asian cuisine, and it's starting to catch on in other parts of the world as well. Several vitamins and minerals can be found in seaweed. Seaweed can carry pollutants from the ocean to your plate. Seaweed contains a variety of protective anti-oxidants.

Green Seaweed Market Restraints and Challenges:

The green seaweed market is facing challenges due to a growing prevalence of natural disasters. These events can damage or destroy seaweed farms, disrupt supply chains, and reduce demand for seaweed products. Damage to seaweed farms caused by natural disasters is one of the biggest challenges for seaweed. The shallow coastal waters where seaweed is grown are vulnerable to storm surges and flooding. Hurricanes and floods can wash away seaweed crops, damage seaweed cultivation equipment, and cause pollution of the water with debris and contaminants. This can lead to lost revenue for seaweed farmers and disruptions to the supply of green seaweed products.

Green Seaweed Market Opportunities:

The green seaweed market is ripe with opportunities driven by expanding customer attention to its dietary advantages and the rising ubiquity of plant-based counts calories. As health-conscious consumers look for regular and supplement thick food choices, green seaweed arises as a significant dietary source plentiful in nutrients, minerals, and cell reinforcements. The trend towards sustainable and plant-based lifestyles further lifts the market, situating green seaweed items as harmless to the ecosystem options. Beyond the food sector, the cosmetic and personal care industry can use green seaweed growth for their skin-sustaining properties, setting out open doors for extending product offerings and details. Also, the continuous innovative work in the utilization of kelp for biofuel, bioplastics, and creature feed presents roads for advancement and broadening.

GREEN SEAWEED MARKET REPORT COVERAGE:

Green Seaweed Market Segmentation: By Form

• Flakes

• Powdered

• Dry Form

• Liquid Form

In 2023, Dry Form/sheets of green seaweed accounted for the largest market share. It is majorly used as a food ingredient in the Asia-Pacific region. The fastest growing by form is Liquid form. The developing interest for green seaweed growth in dietary supplements such as capsules and tablets is supposed to expand the segment development during the determined time period.

Green Seaweed Market Segmentation: By Application

• Processed Food

• Medicines

• Hydrocolloids

• Fertilizers

• Animal feed

In 2023, Human Consumption (Medicines, Cosmetics) is leading in terms of market revenue share of 75%. The fastest growing application is animal-feed which has a share of 12%. Increased awareness of the seaweed's health benefits as well as an increase in demand for more organic and natural food and beverage products are some of the factors that contributed to the growth. In China, Indonesia, South Korea, Malaysia, Japan, and the Philippines, the demand for seaweeds for human consumption is higher due to cultural factors.

The market for other applications is expected to grow rapidly with a CAGR of 3%. In addition to human and animal consumption, seaweed is used to prepare many other things. Demand for commercial seaweed is expected to increase with many successful research coming to fruition.

Green Seaweed Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

In 2023, the Asia-Pacific (APAC) region dominated the global Green Seaweed Market with a revenue share of 90%. The fastest-growing region is North America and Europe. Japan, China, and South Korea of the top seaweed consumers in the region. Commercial seaweed is one of the most popular marine plant foods in these countries, with traditional uses in both food and medicine. The market in Asia Pacific is expected to increase due to rising product demand. The fastest-growing region in terms of revenue share is North America and Europe. Increased demand for vegan and plant-based products in North America and Europe is expected to drive the market. Europe is home to major producers of seaweed. Ireland dominates in the business of exporting seaweed, as Ireland exports seaweed to Germany, the UK, and France.

COVID-19 Impact Analysis on the Global Green Seaweed Market:

The demand for the seaweed market decreased due to the halt in operational activities of various end-user industries. The profit margin fell because of the disrupted supply chain.

According to trade organizations in the nutritional products industry, there has been a significant impact on the global supply chain for functional foods and dietary supplements, which has, in turn, lowered the consumption of seaweed biomass among end users, impacting the growth of the seaweed market during 2020-2021.

Latest Trends/ Developments:

Development of new seaweed-based products: New seaweed-based products include seaweed snacks, seaweed-infused beverages, and seaweed-based cosmetics.

Expansion of green seaweed cultivation: New seaweed farms are being established in several countries. In order to increase the production of green seaweed it contains high levels of nutrients, fiber eubiotics and is used in vegan and plant-based diets.

Use of seaweed in aquaculture: Green Seaweed is increasingly being used in aquaculture as a feed ingredient and as a water purifier.

Development of seaweed-based bioplastics: Green Seaweed is being used as a raw material for the production of bioplastics, which are biodegradable and more environmentally friendly than traditional plastics.

Key Players:

1. Acadian Seaplants Limited

2. Cargill Incorporated

3. DuPont de Nemours Inc.

4. Irish Seaweeds

5. Leili

6. Mara Seaweeds

7. Qingdao Gather Great Ocean Algae Industry Group (GGOG)

8. Pacific Harvest

9. Corbion

10. Al Gaia

11. Gelymer

• In February 2021, Acadian Seaplants Limited pioneered land-based seaweed cultivation. This approach provided greater control over growing conditions, reduced dependence on wild harvesting, and ensured a consistent supply of high-quality seaweed.
• In January 2022, Pacific Harvest introduced Raw Nori Seaweed Snack. The brand is represented in the new product, which celebrates the ‘future’s supreme sustainable

Plant-based cuisine’ as per the experts.