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Global Commercial Seaweed Market to Grow at a CAGR of 9.8% During the Period 2022-2027, Driven by Multiple Applications

According to a new report by EMR titled, ‘Global Commercial Seaweed Market Report and Forecast 2022-2027’, the global commercial seaweed market is expected to grow at a CAGR of 9.8% during the period 2022-2027, led by a variety of applications and advancements in research.

The global commercial seaweed market is expected to be driven by multiple applications of seaweed. Seaweeds are used as a food source (in several coastal regions), in industrial applications and as fertiliser. Present uses of seaweed include foods for human consumption, animal feed, cosmetics, fertilisers, and for the extraction of industrial gums and chemicals. Asia, in particular Japan, Korea and China, are key producers and consumers of seaweed.  North America and Europe are markets with significant potential.

Increasing research into seaweeds is expected to boost market growth. For example, in 2021, it was reported that scientists at the Institute for Global Food Security (IGFS) at Queen’s University Belfast would feed seaweed to farm animals to cut down methane by at least thirty percent. Adding seaweed to animal feed to decrease methane gas released into the atmosphere by ruminants’ burping and flatulence was a relatively novel idea. Prior laboratory research at IGFS had shown promising results using native Irish and UK seaweeds.

In 2022, it was reported that a scientific article from researchers at the University of Gothenburg and Chalmers University of Technology showed that process water from food production could serve as a good fertilizer in seaweed cultivation. The seaweed grew over sixty per cent faster, and the protein content increased nearly four times with the addition of process water. Thus, it was shown that process water from the food industry was an excellent fertilizer in land-based seaweed cultivation. This way, process water could become a resource (rather than cost) in the food industry. Such developments are likely to stimulate the global commercial seaweed market.

In 2020, World Wildlife Fund (WWF-US), with support from The Jeremy and Hannelore Grantham Environmental Trust, announced an $850,000 investment in Ocean Rainforest, to expedite growth of offshore seaweed production for the benefit of people, communities, and climate gains.

In 2022, Zeewaar, the first Dutch organically certified seaweed farm, was bought by The Seaweed Company. The Seaweed Company specialized in the development of high-quality, high value seaweed products and produced seaweed in Ireland, Morocco, India and the Netherlands. Zeewaar produced seaweed in Jacobahaven, Kamperland. In the last ten years, it had established the market for seaweed products in the Netherlands by team up with brands such as ProLaTerre (part of SoFine Foods), Hema, and The Dutch Weedburger (part of Livekindly Collective). Partnerships were established with many sustainable European seaweed companies to fulfil increasing demand for seaweed.

In 2021, Seaweed Solutions AS, announced a collaboration with the global materials science company W. L. Gore & Associates Inc. Through the collaboration, Gore would provide advanced materials engineering and analytical capabilities to complement Seaweed Solutions’ first-hand experience cultivating different types of seaweed for a variety of applications. The organizations would work together to address key issues and enable increased efficiency and scalability of seaweed farming.

In 2017, The U.S. Department of Energy  announced $22 million in funding through the Advanced Research Projects Agency-Energy (ARPA-E) for eighteen innovative projects as part of the Macroalgae Research Inspiring Novel Energy Resources (MARINER) program. MARINER projects would develop tools to enable the USA to become a leading producer of macroalgae, or seaweed, assisting to improve U.S. energy security and economic competitiveness.

Key Findings of the Report:

  • The global commercial seaweed market is expected to be driven by applications of seaweed in applications such as food, animal feed, cosmetics, nutraceuticals, etc. 
  • Increasing research in the domain is likely to boost market growth.
  • Asia is a major producer and consumer of seaweed. Europe and North America are also markets with significant potential.

Market Analysis by Type, Form, Application and Region:

  • By type, the market is segmented into Brown Seaweed, Red Seaweed, Green Seaweed, and Others.
  • By form, the market is divided into Liquid, Powdered, and Others.
  • By application, the market is classified into Agriculture, Animal Feed, Food and Beverages, and Others.
  • By region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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