Pune, India -- (SBWIRE) -- 09/20/2018 -- Market Overview:
Oceans are one of the most valuable natural resources on Earth. The abundance of oceanic flora and fauna offers high potential as a source of food and other resources. Seaweed is one such oceanic product that is being extensively used in various industries such as food and beverage, cosmetics, personal care, chemical and others. Market Research Future (MRFR) has published a report stating that the global seaweed market is registered to project significant expansion during the forecast period of 2017-2023.
The widespread application of seaweed for multiple purposes owing to its nutritive and medicinal properties is majorly propelling the growth of the global seaweed market. Increased research in the cosmetic industry has led to the development of various personal care and skin care products that has seaweed as their major ingredient. The rise in botanical, industrial and pharmaceutical interest in seaweeds are fueling the expansion of the global seaweed market.
Increasing use of seaweed as fertilizers and for extraction of industrial gums and chemicals is impacting positively on the expansion of the global seaweed market. The major use of seaweed as food, owing to its high nutritive value and rich calcium, vitamin K and iron content, is driving the global seaweed market towards higher verticals. Increased consumption of organic food in developed and developing regions has led to the rise in demand for seaweed, which in turn is fueling the growth of the global seaweed market during the forecast period.
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Industry Updates:
In September 2018, the head of Biak Fisheries Service in Biak Numfor in Indonesia's Papua region has stated that the local government has prepared around 100 hectors for seaweed cultivation. The Papuan villagers on the islands of Padaido and Aimando are receiving technical assistance and training from local fisheries services for development of seaweed cultivation, which is aiding this region to become a hub for seaweed cultivation.
In September 2018, Thailand's seaweed chip brand Taokaenoi Food and Marketing PCL has debuted its product 'Nora Seaweed Snacks' in the U.S. market through Amazon and other e-commerce platforms.
Key Players:
The major players profiled by MRFR in the report on the global seaweed market are Cargill Foods (the U.S.), P.L.Thomas and Co., Inc (the U.S.), Ingredients Solutions, Inc. (the U.S.), Snap Alginates (India), Polygal Ag (Switzerland), Arthur Branwell & Co., Ltd (the U.K.), and Kimica Alginates (Japan)
Segmental Analysis:
The global seaweed market has been segmented on the basis of type, form and end-use. Based on type, the seaweed market is segmented into brown seaweed, green seaweed and red seaweed. the red seaweed segment accounts for the major share in the global market owing to the high consumption of red seaweeds due to its high antioxidant concentration. based on form, the seaweed market is segmented into powder, liquid, flakes and others. The liquid segment holds the largest share in the global seaweed market, owing to the high demand for liquid seaweed extract in the global market as it offers longer shelf-life. Based on end use, the seaweed market is segmented into textile industry, food, paper and pulp, pharmaceuticals, welding rods, personal care products and others. The food industry segment accounts for the major share in the global seaweed market.
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Regional Analysis:
Geographically, the global seaweed market is segmented into four major regions such as Asia Pacific, North America, Europe and rest of the world. The Asia Pacific region accounts for the highest share in the global seaweed market owing to the high demand of seaweed in the food and beverage industry and the increasing seaweed consumption as a major part of regional cuisines in the countries like China, Japan, Thailand and others. The increasing import of seaweed and the rise in health consciousness among the consumers are majorly driving the seaweed market in the rest of the world.