Increasing industrial, agricultural, and feed-related applications, as well as a growing market for seaweed as a snack food, are expected to move the seaweed cultivation industry forward during the projection period. Due to easy access to raw materials, suitable weather conditions, and low labor costs for seaweed farming, the Asia-Pacific is anticipated to dominate the market, while Europe is expected to be a distant second. In terms of value, the food segment is expected to dominate the seaweed cultivation market by application in 2020. Due to the inclusion of minerals such as high iodine, calcium, magnesium, iron, vitamins, antioxidants, and fiber, seaweeds are commonly recognized as a health food. This has fueled the demand for seaweed as a food source in places like North America and Europe. Seaweeds are used as a thickening and gelling ingredient in a variety of processed foods, including sausages, bread, creams, cheese, dairy drinks, and chocolates. Furthermore, the usage of seaweeds in the production of low-calorie ice creams and cakes is expected to drive market expansion.
COVID-19 Impact analysis
- Commercial seaweed has also been demonstrated in recent tests to be effective against the COVID-19 virus, outperforming the existing vaccine.
- The spread of COVID-19 prompted strict lockdown in several parts of the world, hampering a variety of sectors.
- Supply chain disruption, restrictions on shipping and trade, and the shutdown of critical manufacturers are just a few of the reasons that have had an influence on the broader economy.
- The food business was also affected by the pandemic.
- The food and agriculture industries are labor-intensive, social distancing rules impeded the production capacity of corn protein manufacturers during the early stages of the pandemic.
Top Impacting Factors
- Commercial seaweed contributes to improved yield quality and quantity in agriculture, as well as meeting the growing need for hydrocolloids in the food and beverage, cosmetics, and personal care industries.
- The commercial seaweed market is predicted to develop due to the rising use of commercial seaweed in pharmaceutical and personal care products. The environmental risk connected with seaweed cultivation is projected to limit the commercial seaweed market's expansion.
- The growing public knowledge of the health advantages of naturally occurring items will provide an opportunity for the commercial seaweed business to expand. The toxicity associated with seaweed eating is projected to be a hindrance to the commercial seaweed market's expansion.
Market Trends
Global Demand has Driven an Increase in Seaweed Growing Practices
Seaweed farming has become an alternative livelihood option in tropical developing nations to improve the socio-economic status of small-scale fishermen, boost the living standard of the coastal population, and promote the sustainable use of coastal and marine resources. Seaweeds also have a faster growth rate and do not require fresh water or land space. They also do not necessitate the use of environmentally harmful industrial fertilizers and pesticides. As a result, cost-effective harvesting procedures, combined with the convenience of handling cultivated seaweeds, have boosted seaweed farming in important seaweed-producing regions.
Natural Disasters have Hampered the Production of Seaweeds
Natural disasters, which impair seaweed production in the coastal areas of seaweed-producing countries in the Asia-Pacific and South American regions, are the biggest issue for seaweed manufacturers. Typhoons, floods, droughts, earthquakes, volcanic eruptions, and pests and illnesses all have an impact on seaweed farming productivity. Such disasters are uncontrollable and present a considerable problem for seaweed farmers. As a result, seaweed producers have begun to construct artificial ponds in non-marine places (mariculture), which require seawater.However, adopting such alternative farming techniques comes at a great cost, posing a financial hurdle for farmers and limiting the scale of seaweed production.
Consumption of Seaweeds is Linked to Toxicity
Consumption of seaweed extracts and packaged seaweed products derived from aquaculture has certain negative consequences due to hazardous minerals, causing global health concerns. Commercially available seaweed products are mostly in the form of partially dried seaweeds packaged in plastic containers and sold as tablets and powder. The presence of heavy metal contaminants such as arsenic and iodine in seaweed taken from wild animals raises safety concerns. Increased exposure to certain heavy metals found in seaweeds can cause medical concerns such as cancer, brain damage, gastrointestinal issues, and kidney illness. Excessive eating of seaweed raises iodine levels above the recommended amounts. Thyroid-stimulating hormone levels rise as a result, resulting in catastrophic illnesses such goitre. Due to the health risks associated with the consumption of seaweed products, seaweed consumption has been regulated, limiting the industry's expansion.
Key Benefits of the Report
- This study presents the analytical depiction of the eucheuma seaweed industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the eucheuma seaweed market share.
- The current market is quantitatively analyzed to highlight the eucheuma seaweed market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed eucheuma seaweed market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Eucheuma Seaweed Market Research Report
- Which are the leading players active in the eucheuma seaweed market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "eucheuma seaweed market" prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "eucheuma seaweed market"?
Eucheuma Seaweed Market Report Highlights
| Aspects | Details |
 By Type |
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 By Method of Harvesting |
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 By Form |
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 By Application |
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 By Region |
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 Key Market Players | DuPont, The Seaweed Company, CP Kelco U.S., Inc., Qingdao Bright Moon Seaweed Group Co., Qingdao Seawin Biotech Group Co. Ltd., Seaweed Energy Solutions AS, Cargill Incorporated, Groupe Roullier, Qingdao Gather Great Ocean Algae Industry Group, Acadian Seaplants |
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