The global Edible Seaweed market size is expected to expand from USD 11,250.0 million in 2023 to USD 19,745.0 million by 2033. Over the next ten years (2023 to 2033), global Edible Seaweed sales are likely to soar at a notable CAGR of 5.8%.
Key Trends Listed by Future Market Insights (FMI):
Seaweeds are an excellent source of iodine and omega 3 and omega 6 fatty acids. They have been used in Asian cuisines like soups, sushi and stews for as a very long time. Seaweeds have carrageenans, fucoidans and agars that act as prebiotics, non-digestible fibres that help feed the healthy bacteria in the digestive tract. Studies also suggest that consumption of seaweeds also helps reduce blood pressure.
Asian countries like Japan, South Korea and China were among the first countries to tap on to the potential benefits of consumption of seaweed dating back to the 5th century. With increasing globalization and relocation of people the demand for edible seaweed has increased many folds in over the last decade.
There is an increase in seaweed farming as it is a promising renewable source of biofuels. Biofuels are necessary to reduce carbon footprint, fight climate change and environmental degradation. Though seaweed is plentiful, it is under-used source of biomass. Additionally seaweed is used in various formats as ingredients in animal feed which in itself is a billion dollar industry.
A recent study conducted by FMI suggests that the current growth rate of seaweed farming has gone up to ~14% year on year due to the increasing awareness about sustainability and economically viable solutions to modern day problems.
Attributes | Key Insights |
---|---|
Estimated Global Edible Seaweed Market Size (2023E) | USD 11,250.0 million |
Projected Edible Seaweed Market Value (2033F) | USD 19,745.0 million |
Value-based CAGR (2023 to 2033) | 5.8% |
Top 3 Countries’ Value | USD 5,850.00 million |
Top 3 Countries’ Share | 52.0% |
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Market Statistics | Details |
---|---|
Jan to Jun (H1), 2021 (A) | 4.6% |
Jul to Dec (H2), 2021 (A) | 5.6% |
Jan to Jun (H1), 2022 Projected (P) | 5.0% |
Jan to Jun (H1), 2022 Outlook (O) | 5.5% |
Jul to Dec (H2), 2022 Outlook (O) | 6.4% |
Jul to Dec (H2), 2022 Projected (P) | 5.9% |
Jan to Jun (H1), 2023 Projected (P) | 5.4% |
BPS Change: H1, 2022 (O) to H1, 2022 (P) | -45 |
BPS Change: H1, 2022 (O) to H1, 2021 (A) | 95 |
BPS Change: H2, 2022 (O) to H2, 2022 (P) | 80 |
BPS Change: H2, 2022 (O) to H2, 2022 (A) | -45 |
According to the Future Market Insights (FMI) analysis, global Edible Seaweed sales grew at a CAGR of 2.4% from 2018 to 2022. For the next ten years, the worldwide market for Edible Seaweed is forecast to progress at 5.8% CAGR over the next decade of 2023 to 2033.
Seaweed are available in abundance, and hold a high potential to be effectively utilized in the fight against environmental degradation. Edible seaweed is suitable for biofuel. Seaweeds contain 85-90% water which make them ideal for bio-fuel making. Species like, sugar kelp high carbohydrate content and low lignin content that are required in the making of bioethanol. Today, bioethanol is used as an alternative to fossil fuels to generate various form of energy like heat, motor power and electricity.
Additionally, In Asian countries in particular, the demand for three species, namely, Nori (Porphyra), Kombu (Saccharina and Laminaria) and Wakame (Undaria) is the highest as they are used in multiple industries like food and beverage, pharmaceutical and cosmetics industry. Edible seaweed are used to make organic and plant-based hydrocolloids like agar, carrageenan and alginate, which are known for their antioxidant properties.
These are used as a replacement to synthetic antioxidants and provide a clean label to the finished products. Hydrocolloids are used as a thickening, gelling and emulsifying agents and hence have wide applications in the food and beverage sector in the making of processed foods
Marine By-Products Market:
Attributes | Marine By-Products Market |
---|---|
CAGR (2023 to 2033) | 4.9% |
Market Value (2033) | ~USD 43,382.8 million |
Growth Factor | Fish meal and fish oil are the two types of marine ingredients experiencing a surge in demand as they are beneficial in improving immunity and reducing mortality among fam animals and animal feed |
Opportunity | Fish and marine by-products are increasingly used as raw materials to produce fish meal and fish oil. Utilization of byproducts and reduce wastage and pollution of water bodies |
Key Trends | Development of revolutionary green technologies like supercritical fluid extraction and Ultrasound-assisted extraction have resulted in efficient and advanced ways of utilization of marine by-products. |
Marine Collagen Market:
Attributes | Marine Collagen Market |
---|---|
CAGR (2023 to 2033) | 7.5% |
Market Value (2033) | ~USD 197.4 million |
Growth Factor | The demand for anti-aging ingredients in the cosmetics industry is on the rise. Collagen products are known for their anti-ageing properties and hence the demand for marine collagen as a viable alternative to conventional collagen products is expected to drive the market |
Opportunity | Marine collagen market is still in its infancy and hence there is a lot of scope for manufacturers to develop unique and novel products that cater to the demand op consumers |
Key Trends | Modern day consumers are willing to pay a premium price for products that are sustainably sourced and help in reducing environmental degradation. Marine collagen is one such alternative that most consumers are willing to pay a premium price for |
Fish Silage Market:
Attributes | Fish Silage Market |
---|---|
CAGR (2023 to 2033) | 10.2 |
Market Value (2033) | ~USD 780.9 million |
Growth Factor | Fish silage has a number of benefits over fish meals as it is cheaper, results in improved performance and meat quality in broiler chicken. |
Opportunity | Use of materials that is otherwise dumped offshore and is considered waste will help in reducing environmental pollution and will act a good source of nutrition for animal feed |
Key Trends | The demand for animal feed alternative has grown substantially. There is a growing need for resources that can be used to feed farmed animals and fish silage acts as an ideal alternative owing to its easy availability and exceptionally low cost |
Region | North America |
---|---|
Country | United States |
CAGR | 4.8% |
BPS Analysis | -119 |
Market Value (2033) | USD 5,429.8 million |
Region | Europe |
---|---|
Country | Germany |
CAGR | 4.0% |
BPS Analysis | -221 |
Market Value (2033) | USD 2,270.6 million |
Region | Asia Pacific |
---|---|
Country | Japan |
CAGR | 4.6% |
BPS Analysis | -33 |
Market Value (2033) | USD 3,455.3 million |
Region | Asia Pacific |
---|---|
Country | India |
CAGR | 5.6% |
BPS Analysis | -383 |
Market Value (2033) | USD 1,480.8 million |
Region | Asia Pacific |
---|---|
Country | China |
CAGR | 5.8% |
BPS Analysis | 120 |
Market Value (2033) | USD 888.5 million |
As per Future Market Insights, Japan Edible Seaweed market is expected to reach a valuation of around USD 590.0 million by 2033, and China which is expected to reach a valuation of USD 888.5 million by 2033
In Japan, China and South Korea seaweed has been consumed for centuries in their diets, and the demand for seaweed has outpaced the supply. In Japan in particular, more than 20 species are consumed on a regular basis. The Japanese consume 120-180 grams of seaweed per month per person.
Growing urbanization to western countries has created awareness about the benefits of seaweed consumption across the globe. Modern day health enthusiasts are concerned about reducing environmental pollution. They are more inclined towards a healthier and nutritional approach towards food consumption. Edible seaweed is readily available, sustainable and nutritionally rich in terms of protein, vitamin and mineral content. Many seaweed species like the brown and red algae are used as gelling, thickening, and stabilizing agents.
Use of seaweed in Pharmaceutical has spurred it demand in USA
According to FMI analysis, the United States Edible Seaweed industry is poised to exhibit a CAGR of 4.8% during the assessment period. By 2033, the United States market size is expected to reach USD 5,429.8 million.
Over the last two decades, seaweeds are being used in pharmaceutical and medical industry due to the high diversity of their metabolites, seaweeds are used in medicine to treat ulcers, renal disorders asthma, lung diseases, heart diseases and even cancer. Multiple compounds like fatty acids, haloforms terpenoids, glycoproteins, halogenated alkanes and sterols are some of the most important seaweed substances that are widely used in pharmaceutical industry for drug development.
Seaweeds are a good source of bioactive compounds such as sulphated polysaccharides. There are used in the pharmaceutical sector for the manufacture of multiple ingredients for several years. Sulfated polysaccharides found in red, brown and green algae have been used to formulate a number of drugs, medicines and functional foods. In the united states the prevalence of diseases like cancer and diabetes is fairly high with created a need for edible seaweed algae in the manufacture of dietary supplements, and medicines.
Easy availability and demand for seaweed in Japan is expected to drive the Japanese Edible Seaweed market
Edible Seaweed demand in India is anticipated to rise at a steady CAGR of 4.6% during the forecast period from 2023 to 2033 and is expected to reach a valuation of USD 1,800.0 Million by 2033
In Japan, consumption of seaweeds and shellfishes have a religious meaning. Kombu (Laminaria), wakame (Undaria) seaweeds are some of the examples of seaweeds and shellfishes that are commonly offered to Shinto Shrine. Nori (Porphyra spp.), wakame (Undaria pinnatifida.) and konbu (Lminaria spp) are mojor seaweeds consumed in Japan. They are consumed as processed seafood in dried, salted or boiled form. There are studies that support the consumption of seaweed daily from the prehistoric age. Hence the demand for edible seaweed is expected to be high in Japan and is expected to drive the East Asian Market
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Red Seaweeds contain proteins like phycobiliproteins which are known for their antioxidant properties. Consumption of red seaweeds is beneficial in the prevention of neuro diseases that are caused due to oxidative deficiencies and in the treatment of cancer and gastric ulcers. They also contain omega-3 and omega-6 fatty acids that prevent diseases like diabetes. These diverse and useful applications of red algae in the pharmaceutical and medical sector have resulted in their high demand across the globe.
Nori, known as zicai in China and gim in Korea is perhaps the most popularly consumed seaweed. It is usually pressed into thin sheets that are dark green or black in colour and are used to wrap sushi rolls. Unlike Wakame, Kelp and other forms of edible seaweed that typically grow in deeper water, Nori is generally found in shallow coastal areas. Due to its existence in the Japanese cosines form the early 5th century, Nori has become a staple of the Japanese cuisine. Its powder is sprinkled over salads, soba and udon noodles and scrambled eggs as toppings and is used to wrap rice balls and sushi. Its versatility in nature and easy availability have created a surge in demand for edible seaweed in the global market
The competitive landscape of Edible Seaweed is dynamic and constantly evolving as the demand for sustainable and cost-effective feed options continues to grow. Several factors influence the competitiveness of Edible Seaweed, including availability, cost, nutritional value, market acceptance, and regulatory considerations.
Attribute | Details |
---|---|
Market Size Value in 2023 | USD 11,250.0 million |
Market Forecast Value in 2033 | USD 19,745.0 million |
Anticipated Growth Rate (2023 to 2033) | 5.8% CAGR |
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | Volume (MT) and Value (USD Million) |
Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
Key Countries Covered | Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
Key Market Segments Covered | Product Type, Application, Form and Extraction method, and Region |
Key Companies Profiled | Gelymar; Tasmanian Seafood Seduction; PhycoHealth; Sea Forest; Australian Seaweed Institute; Marinova; Great Southern Ocean; The Seaweed Company; Acadian Seaplants; Qingdao Gather Great Ocean Algae Industry Group; Roquette Klotze GmbH; Cargill, Incorporated; Acadian Seaplants; Qingdao Seawin Biotech Group Co. Ltd.; CP Kelco USA, Inc.; AquAgri Processing Pvt. Ltd; Algaia; BASF SE |
In 2023, the market is expected to be around USD 11,250.0 million.
The market to endure at a 5.8% CAGR through 2033.
The edible seaweed sales increased at a HCAGR of 2.4% between 2018 and 2022.
The Europe market to accelerate at a CAGR of 4.0% through 2033.
The North America market to thrive at a CAGR of 4.8% through 2033.
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