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Global Seaweed Snacks Market to Grow at a CAGR of 10.4% During 2022-2027, Aided by the Growing Demand for Innovative Flavours

According to a new report by EMR titled, ‘Global Seaweed Snacks Market Report and Forecast 2022-2027’, the market attained a value of around USD 1466 million in 2020. The market for seaweed snacks is further expected to grow at a CAGR of 10.4% between 2022 and 2027.

The global seaweed snacks industry is likely to gain traction over the forecast period owing to the rising demand for seafood products among consumers. This can be attributed to the high nutritional value and superior taste of the products. The market is expected to be further propelled by the growing availability of a range of seaweed snacks including crispy seaweed, grilled seaweed, roasted seaweed, and tempura seaweed, among others, across supermarkets and hypermarkets worldwide. In terms of region, the Asia Pacific is likely to account for a significant share in the market, owing to the rising population, thriving food and beverage industry, and the rising consumer disposable incomes in the region. The market is expected to be further propelled by the rapid urbanisation. Seaweed-based products are staple snacks in major Southeast Asian countries like Thailand, Singapore, South Korea, and Japan, among others.

The growing consumer demand for new and global flavours is compelling the market players to develop innovative snack variants, which is expected to support the market growth in the forecast period. For instance, in September 2019, Frito-Lay, a subsidiary of PepsiCo, Inc. (NASDAQ: PEP) conducted the Frito-Lay U.S. Snack Index survey, which reported that the consumers are increasingly seeking global flavours such as seaweed, turmeric, and tahini, among others. This is expected to support the development of seaweed-based snacks in the forecast period. Furthermore, the increased availability of a vast variety of seaweed snacks across online platforms such as on Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA) is also expected to propel the growth of the seaweed snacks industry in the forecast period.

Market Breakup by Type, Source, Distribution Channel, and Region:

  • The market is segmented, based on type, into nori sheets, flakes, bars, and chips, among others. 
  • Based on source, the market is divided into red, brown, and green. 
  • The various distribution channels of seaweed snacks include hypermarkets and supermarkets, convenience store, and online, among others. 
  • Region-wise, the global market for seaweed snacks can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for seaweed snacks is being driven by the rising demand for seafood products owing to their high nutritional value and superior taste.  
  • The increasing consumer demand for snacks and rising disposable incomes are also supporting the market growth. 
  • The growing R&D activities by the manufacturers towards enhancing the nutritional value and adding innovative flavours to their product line are likely to propel the market growth.  
  • The emergence of e-commerce platforms and the development of convenience stores are expected to further aid the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for seaweed snacks for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the     types, sources, distribution channels, and regions of seaweed snacks.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global seaweed snacks market are SeaSnax, Ocean’s Halo, Taokaenoi Food & Marketing PCL, Eden Foods, Inc, and Annie Chun's, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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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.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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