The latest report by IMARC Group has projected that the global seaweed market size 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 𝐔𝐒𝐃 𝟏𝟖.𝟑𝟔 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟑, 𝐞𝐱𝐡𝐢𝐛𝐢𝐭𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟖.𝟏𝟕% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟓-𝟐𝟎𝟑𝟑.
This has been attributed to the increasing demand for seaweed in the food and beverage industry thus propelling the growth of the global seaweed market.
As food trends are shifting towards health-conscious diets seaweed is quickly gaining a reputation for being a nutrient-dense superfood due to its bountiful vitamins, minerals, and antioxidants.
Seaweed’s unique properties allow it to alienated into several products such as snacks, soups, salads, and even meat substitutes.
Last year the global seaweed market size was valued at 𝐔𝐒𝐃 𝟗.𝟎𝟏 𝐁𝐢𝐥𝐥𝐢𝐨𝐧.
With the rise of veganism and plant-based diets, its adoption has also saw a growth due to seaweed being an excellent source of protein and essential amino acids.
Moreover, the food sector is now incorporating seaweed based gelling and stabilizing additives like agar and carrageenan into their products. As people’s perception of seaweed and its sustainability increases, so does the demand which in turn increases market growth.
𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 s𝐞𝐚𝐰𝐞𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 p𝐡𝐚𝐫𝐦𝐚𝐜𝐞𝐮𝐭𝐢𝐜𝐚𝐥 𝐚𝐧𝐝 c𝐨𝐬𝐦𝐞𝐭𝐢𝐜 s𝐞𝐜𝐭𝐨𝐫𝐬
Other than the food sector, the pharmaceutical and cosmetic industries are becoming increasingly influential in the global seaweed market.
Seaweed is now extensively used while formulating nutraceuticals and dietary supplements because of its rich content of bioactive compounds such as fuciodan and alginate which have anti-inflammatory, antiviral and antioxidant effects.
Owing to their moisture-retentive, anti-aging, and detoxifying properties, seaweed extracts are becoming increasingly preferred in cosmetics.
The rising shift toward ethical and sustainable beauty practices has increased its demand even further.
As new informative and cosmetic uses of seaweed continue to be discovered, it is expected to further proliferate across these industries, presenting abundant opportunities for industry players.
𝐑𝐢𝐬𝐢𝐧𝐠 a𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 s𝐞𝐚𝐰𝐞𝐞𝐝 𝐢𝐧 a𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 b𝐢𝐨𝐟𝐮𝐞𝐥 p𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧
Policymakers and industry players in the agriculture and biofuel sector are adopting seaweed as an eco-friendly alternative to combat environmental issues.
In agriculture, seaweed extracted fertilizers are growing in popularity for their and soil fertility, and crop yields, all while curbing the use of chemicals.
Seaweeds are also naturally rich in plant growth promoters like cytokinins and auxins, making it an unfettered choice for farmers.
Meanwhile, the biofuel sector is assessing the feasibility of seaweed as a biomass fuel because of its abundant productivity in any water body without the need for cultivable land.
As the world intensifies the fight against climate change, the use and demand for seaweed in these industries is bound to increase making it a crucial catalyst for sustainable development.
