The global Commercial Seaweeds Market is projected to reach USD 17.62 Billion by 2024, at a CAGR of over 9% during the forecast period owing to growing awareness of nutritive values in seaweeds, increase in consumption of seaweed for human food and animal feed, and its gelling properties which can be used in various industries such as hydrocolloids.
Based on type, the market has been segmented into Brown Seaweeds, Green Seaweeds, and Red Seaweeds. In 2018, the red seaweed market segment accounted for the major shares due to the rising awareness of the health benefits of red seaweeds that results in its increased usage in the food industry. In 2018, the APAC region dominated the market due to increasing awareness about the benefits of commercial seaweeds among industrialists and consumers.
Moreover, the North American region is projected to dominate the market during the forecast period due to investments from several multinational manufacturers and extensive R&D initiatives.
Years considered for this report:
Historical Year: 2014-2017
Base Year: 2018
Estimated: 2019
Forecast: 2020-2024
The objective of the Study:
- To analyze and forecast the market size of the Commercial Seaweeds Market, in terms of value and volume.
- To classify and forecast Global Commercial Seaweeds Market based on type, form, application, and regional distribution.
- To identify drivers and challenges for the Global Commercial Seaweeds Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Commercial Seaweeds Market.
- To conduct the pricing analysis for Commercial Seaweeds Market.
- To identify and analyze the profile of leading players involved in the manufacturing of the Global Commercial Seaweeds Market.
Some of the leading players in the Global Commercial Seaweeds Market are E.I. Dupont De Nemours and Company, Cargill, Roullier Group, Brandt, Compo Gmbh & Co. Kg, Biostadt India Limited, Seasol International Pty. Ltd., Gelymar, Acadian Seaplants Limited, CP Kelco, etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe.
Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents also enquired about their competitors.
Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels, and presence of all major collaboration manufacturers across the globe.
TechSci Research calculated the market size of the Global Commercial Seaweeds Market using a bottom-up approach, where data for various end-user industries and their application across various product types were recorded and forecasted for the future years.
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TechSci Research sourced these values from industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as the company website, news articles, press releases, company annual reports, investor presentations, and financial reports were also used by TechSci Research.
Key Target Audience:
- Manufacturers of Hydrocolloids
- Seaweed Raw Material Suppliers
- Animal feed suppliers
- Cosmetics manufacturers and suppliers
- Traders, Distributors, and Suppliers
- Industry associations and experts
- Research organizations and consulting companies.
- Research Institutes
- Industry associations
- Market research and consulting firm.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.