Seaweed Flavor Market size is poised to grow with a lucrative CAGR from 2023 to 2032, due to the growing demand for seaweed flavor in the food & beverage industry owing to the health advantages of seaweed, such as decreased blood pressure and cholesterol levels, weight management, and ease of digestion.
Furthermore, the emerging trend in retail stores and supermarkets for seaweed flavor is fueling product demand. Increasing consumer preference for low-salt products and numerous flavors is also driving market expansion. Manufacturers have been trying to diversify their product offerings through the innovation of assorted flavors.
The elite population is preferring a healthier lifestyle due to which the demand for seaweed flavor has been rising owing to their anti-inflammatory, antimicrobial, and antioxidant properties. A new form of edible algae known as dulse has increased the prospects for the industry owing to its high nutritional content. It has considerable amounts of minerals, vitamins, antioxidants, and bacon flavor that can be used in several food products. They are rich in vitamins A, B, and C, magnesium, iron, and zinc. Varied species of seaweed contain ingredients like proteins, minerals, polyunsaturated fatty acids, and dietary fiber.
In terms of raw material, the seaweed flavor market is segmented into bacon, wakame, kombu, and laver/nori flavors. The laver segment is anticipated to gain notable traction through 2032. It is also known as slake and is found majorly around the east coast of Ireland and the west coast of Great Britain. It is known for its smooth texture and purple color. Its rich iodine content gives it a unique flavor when combined with oysters and olives, which has influenced the product's use. Kombu is extensively used in Japanese cuisines and is sold dried or pickled in vinegar. It can be pickled with a sour and sweet flavor. It is used in preparing beverages and seasonings.
Based on application, the seaweed flavor market has been classified as beverages, alcoholic drinks like beer, and food products such as burgers, seasonings and sauces, soups, bakery products, burgers, and snacks. The beverages segment is expected to amass a substantial revenue share owing to the growth of craft beers. Seaweed extracts are used in the brewing of some beers to eliminate impurities that may produce hazes in the final beer. By acting as a clarifying agent, it aids in the removal of excess protein from the wort and helps in the production of light beer.
Regionally, Asia Pacific accounted for a sizable share of the global seaweed flavor market in 2022 and is poised to witness significant growth through 2032. Seaweed-flavored food and beverages are gaining popularity across the APAC region. In January 2023, Boonrawd Trading Co Ltd, the firm behind the Masita seaweed snack brand, introduced two new products- Big Size Korean-style roasted seaweed, original taste, and Seaweed Rice Seasoning.
Some of the key participants identified across the seaweed flavor industry are Mara Seaweed, Ocean’s Halo, VitaminSea Seaweed, Atlantic Holdfast Seaweed Company, Maine Coast Sea Vegetables, Inc., Acadian Seaplants Ltd., Annie Chun’s Inc., CJ CheilJedang Corporation, Eden Foods, Inc., Seamore Holding B.V., etc.
The companies are focusing on expanding their product portfolio and framing strategies that will lead to the growth of the seaweed flavor market. To cite an instance, in November 2022, OCEANIUM, a Scottish biotechnology company, developed a high-fiber seaweed-based one-for-one methylcellulose alternative for plant-based meat that can also be used in gluten-free bread and drinks.