Commercial Seaweed Market size to exceed $85bn by 2026
Published Date: July 13, 2020 Authors: Kiran Pulidindi, Akshay Prakash
Commercial Seaweed Market size is expected to surpass USD 85 billion by 2026, according to a new research report by Global Market Insights, Inc.
Global agriculture industry is facing significant challenges to produce food with limited amount of cultivable lands to cater the rapidly increasing food demand for the growing population. The usage of inappropriate fertilizers has resulted in massive degradation in the fertility of soil and has significantly impacted the agricultural output. This has led to the demand for efficient fertilizers to sustain food security and increase yield output.
Sustainable agriculture techniques are gaining popularity in emerging and developed nations to enhance the agricultural productivity. It involves various processes that fulfil the long-term requirements of agricultural resources. Chemical fertilizers hamper the productivity of cultivable lands whereas natural fertilizers improve the soil quality and productivity. According to Food and Agricultural Organization of the United Nations, the fertilizer nutrient demand across the globe was 184 million tons in 2015 and is expected to exceed 200 million tons by 2020.
Seaweed are environment friendly fertilizers and enhances yield by enhancing nutritional composition of soil. Seaweeds contains various beneficial nutrients that augments plant growth. The consumption of seaweed has increased significantly over the past few years to improve plant growth. Seaweed fertilizers are also capable of increasing the production of various plants including peppers, potatoes, strawberries, cucumbers, okra, oranges, and apples. Seaweeds also contain phosphorous, helping plants to develop an active & healthy root system. They also improve soil texture, aeration, and drainage. The rising product demand for fertilizer applications will augment commercial seaweed market growth during the forecast time span.
Browse key industry insights spread across 270 pages with 281 market data tables & 33 figures & charts from the report, “Commercial Seaweed Market Forecasts By Product (Red, Green, Brown), By Form (Wet, Dry), By End User (Food, Animal Feed, Pharma & Personal Care, Biofuels), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Brown segment of commercial seaweed market is set to surpass USD 35 billion by 2026. Laminaria sp. “kombu”, Undaria sp. “wakame”, and Hizikia fusiforme “hiziki” are edible brown seaweeds and important resources in Asian countries especially Japan and China. These seaweeds are consumed raw, dried or boiled with crushed ice, coconut milk, jelly and sweetened green beans in Southern Vietnam. Paperly sea bubble or Colpomenia sp. is consumed as stew, salad or chop soup. Sea colander or Hydroclatharus sp. are consumed as stew, food or soup.
Dry commercial seaweed to bank upon multiple industrial application
Dry commercial seaweed market size will witness over 12% CAGR over the forecast timeframe. Dry seaweed is mostly used to produce seaweed meals, fertilizers, as an additive to animal feed, removal of toxic metals from industrial wastewater, and also used by several producers of agar, durvillaea, Laminaria digitate, or other processed products.
Animal feed will witness significant growth with increasing utilization of natural additives in fodder. Seaweeds have a variable composition depending on the time of collection, habitat, species, water temperature, nutrient concentration in water, and water temperature. They contain non-nitrogen protein and have a nitrogen-to-protein conversion factor of less than 6.5, that makes them suitable for feed ingredients.
Microalgae harvesting activities to support revenue generation in Europe
In 2019, Europe held over 20% share in commercial seaweed market. European commercial seaweed industry is primarily based on the harvesting of macroalgae. The production of meal for agriculture and alginate require enormous quantities of raw materials. Increasing consumption of healthy and nutritious sea foods will augment seaweed demand over forecast timeframe.
Mergers and acquisition to enhance the industry consolidation
Key manufacturers in commercial seaweed market includes, Acadian Seaplants Ltd., CP Kelco, W Hydrocolloids, Inc., Qingdao Seawin Biotech Group Co., Ltd. etc. These players are emphasizing on partnerships, acquisitions, production capability enhancement, etc. to strengthen their market position.
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