Market players in the commercial seaweed market are investing in research & development to boost their product portfolio.
ROCKVILLE, MD / ACCESSWIRE / November 30, 2020 / Fact.MR: The global commercial seaweed market is expected to grow at a steady pace throughout the forecast period of 2019-2029. The market growth can be primarily attributed to extensive usage in several end use sectors. Furthermore, Commercial seaweeds offer fertilizers, food, nutritional supplementation, as well as valuable phycocolloids such as alginate, carrageenan, and agar that are likely to offer opportunities in the global market.
"The innate attributes of seaweed are furthering several industries in their purest form. The increased applications and direct consumption will attract producers to reap benefits in the approaching years, while the inconsistent production and supply due to environmental aspects will impact the pricing of seaweed in the global market." states Fact.MR report.
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Commercial Seaweed Market - Key Takeaways
- The global commercial seaweed market is estimated to surpass US$ 15 Bn towards 2029 end.
- APAC is set to emerge as the most lucrative region due to growing popularity of seaweed in emerging economies such as India, China and Indonesia.
- Red seaweeds will be accounting for over half of the global market share due to significant demand from food & beverage sector.
Commercial Seaweed Market - Driving Factors
- Presence of several medicinal and nutritional properties in seaweed is anticipated to boost the overall market growth.
- Varied end use applications will offer revenue generating prospects in the global commercial seaweed market.
- Regulatory approvals for utilizing seaweed in infant formulas by authorities such as FAO and WHO to bring in exponential growth.
Commercial Seaweed Market - Constraints
- Natural calamities affects the production of seaweeds, this might impact the market growth negatively to fulfil the present and growing demand of consumers.
- Rising water pollution due to mixing of toxic plastic & chemical from industrial effluents poses several challenges in the market.
Anticipated Market Impact by COVID-19 Outbreak
The commercial seaweed market is foreseeing adverse impact amid the COVID-19 outbreak on the back of decline in demand for agricultural productivity of seaweed as a raw material. However, the market is likely to gradually pic up pace as studies suggest that certain compounds of seaweeds might be helpful in reducing the infection spread. This is likely to boost sales of commercial seaweed across nations.
Explore the global Commercial Seaweed market with 63 figures, 56 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4493/commercial-seaweed-market
Competition Landscape
Commercial seaweed is a huge market where government grants are offering prospects for niche players to come in and capture market share. Major companies which account for a notable market share in commercial seaweed market include Cargill Inc., Du Pont de Nemours & Co., CP Kelco, Yan Cheng Hairui Food along with others who are further investing in research & development to boost product portfolio in the approaching years.
More on the Report
The Fact.MR's market research report provides in-depth insights into the commercial seaweed market. The market is scrutinized based on product type (Red, Brown, and Green), Form (Liquid, Powder), and End user (Direct Consumption, Textile, Food Additive, Pharma & Personal Care, Paper, Animal Feed, Fertilizers), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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SOURCE: FactMR