Seaweed Flavor Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, France, Italy, China, Australia, India, Japan, Indonesia, Argentina, Brazil, Saudi Arabia, UAE, Kuwait, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1472
Global Seaweed Flavor Market size is expected to grow at a significant CAGR during the forecast period. There has been a growing demand of seaweed flavor in food and beverage industries owing to the health benefits associated with seaweed such as lowering blood pressure and cholesterol levels, weight management and ease in digestibility. There has been a rising trend in the retail stores and supermarkets for seaweed flavor worldwide, which is also one of the major factors fueling the demand of the product. Consumers’ demand for low salt products and numerous flavors is also driving this market segment. Manufacturers have been trying to diversify their product offerings by innovation of assorted flavors.
Seaweeds are multicellular and macroscopic marine algae residing in saltwater. They are natural substitutes of salt. They possess anti-inflammatory, antimicrobial and antioxidant properties. They can reduce cardiovascular diseases due to the presence of potassium salts which do not increase the blood pressure unlike sodium salts. They are rich in vitamin A, B and C, magnesium, iron and zinc. Varied species of seaweed contain ingredients like proteins, minerals, polyunsaturated fatty acids and dietary fiber.
Elite population is preferring healthier lifestyle due to which the demand for seaweed flavor has been rising. A new form of edible algae known as dulse has increased the prospects for the industry owing to the high nutritional content in it. It has considerable amounts of minerals, vitamins, antioxidants and bacon flavor that can be used in number of food products.
The seaweed flavor market can be segmented on the basis of form, raw material, application and region. Based on form, the market can be divided into dried and liquid. Based on application, the market can be classified as beverages, alcoholic drinks like beer, and food products such as burgers, seasonings and sauces, soups, bakery products, burgers and snacks.
On the basis of raw material, the market is segmented into bacon, wakame, kombu and laver/nori flavors. Laver is also known as slake and is found majorly around the east coast of Ireland and west coast of Great Britain. It has a smooth texture and is of purple color. It is rich in iodine content which gives it a unique flavor in common with oysters and olives. Kombu is extensively used in Japanese cuisines and is sold dried or pickled in vinegar. It can be pickled with sour and sweet flavor. It is used in preparing beverages and seasonings. Wakame is often used in soups and salads. Bacon variety is organic, gluten-free and suitable for vegans.
Based on region, the market can be divided into five regions, viz., North America, Latin America, Europe, Asia Pacific, and Middle East and Asia. Asia Pacific has accounted for a major market share globally. Seaweed flavored food and beverages are set to be a big trend in Europe. There have been numerous seaweed flavored product launches in Asia Pacific followed by North America and Latin America.
Dutch company Seamore announced the launch of bacon seaweed in January 2017. Some of the key participants identified across the product market are Seamore Holding B.V., Mara Seaweed, Osarunomori Co. Ltd., Frito-Lay North America, Inc., Atlantic Holdfast Seaweed Company, Aquarev Industries, Acadian Seaplants Ltd., VitaminSea Seaweed, Ocean’s Halo, Dulse and Rugosa, Maine Coast Sea Vegetables, Inc., Eden Foods, Inc., Irodori Foods, CJ CheilJedang Corporation, Setalg SA, Annie Chun’s Inc., etc. The companies are expected to expand their product portfolio and frame strategies that will lead to the growth of seaweed flavor market.
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