Commercial Seaweed Market Size

Commercial Seaweed Market Size

Commercial Seaweed Market size was estimated to be valued at over USD 40 billion in 2020 and is set to register around 9.6% CAGR from 2021 to 2027. Growing demand for eco-friendly fertilizers and rising application in different industry verticals is expected to drive the overall market size.

The commercial seaweed industry will witness promising growth which is attributable to its extensive usage as a particle suspension and emulsifying agent, thickener, stabilizer, and protein stabilizer in dairy products, salad dressings, ice cream, chocolate milk, and other processed food items.

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Seaweed is an umbrella term for a group of multi-cellular, macroscopic, and marine algae, which are found in various shades of red, green, and brown. They may be shaped as delicate fingers, spheres, broad leaves, or may resemble fruit. Although seaweeds have been consumed for several centuries as a key source of food, they are being increasingly used on a commercial level. They find extensive applications in the food & beverages sector for their hydrocolloid properties along with several applications in various industries, including cosmetics, personal care, animal feed & additives, agriculture, and pharmaceuticals.

Seaweed usage as fertilizer, supports the agricultural industry by enhancing the output in limited cultivable land to meet the growing food demand. Since sustainable agricultural practices are being hindered due to a massive decline in soil fertility, there is a high demand for effective fertilizers for increased yield and food security. This, in turn will support commercial seaweed market expansion during the estimation timeline.