The Asia Pacific Commercial Seaweed Market would witness market growth of 10.4% CAGR during the forecast period (2021-2027).
Seaweed is widely used in the making of certain food products owing to its distinct structure, natural umami flavor, and balanced thickness or consistency. It is a well-known and famous food product in many Asian countries. Moreover, many restaurants across this world are serving sea tang dishes which are made by utilizing seaweed products. Furthermore, many researchers claim that the consumption of dried algae on daily basis reduces the tendencies of gastric ulcers and tumors, some kinds of cancer, diabetes, and cardiovascular diseases.
The most common product of seaweed snacks are the Nori strips and dried or roasted seaweed strips, which are widely available in the market. These sheets or nori strips are low in calories and have more nutrients which make them a healthy substitute for over the high-calorie chips. Moreover, the introduction of different flavors like wasabi, teriyaki, Korean BBQ, sweet onion, as well as chili lime, is estimated to gain the traction of more consumers to the commercial seaweed industry in the coming years.
According to the data shared by the National Health Commission of the People’s Republic of China, between 2015-2019, more than 50% of the population of China aging 18 or above was either overweight or obese. Obesity can lead to various other physical problems in the human body. Due to this factor, the consumption of seaweed across China is expected to increase as it helps in fat and weight reduction.
The growth of this region is primarily owed to the large-scale consumption and production of various types of seaweed in the region. Moreover, there is a broad availability of seaweed in this region, due to which, farmers are more focused on cultivating more seaweeds. Countries, such as China, South Korea, and Indonesia are more frequently utilizing seaweed in the cosmetics industry due to the skin-related benefits of the product. Due to these factors, the growth of the regional market would increase.
The China market dominated the Asia Pacific Commercial Seaweed Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $6,638.6 million by 2027. The Japan market is poised to grow at a CAGR of 9.7% during (2021 - 2027). Additionally, The India market would experience a CAGR of 11.2% during (2021 - 2027).
Based on Product, the market is segmented into Red Seaweed, Brown Seaweed, and Green Seaweed. Based on Application, the market is segmented into Human Consumption, Agriculture Animal Feed, and Others. Based on Form, the market is segmented into Liquid, Powdered, and Flakes. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Commercial Seaweed Market is Projected to reach USD 31 Billion by 2027, at a CAGR of 10.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DuPont de Nemours, Inc., Groupe Roullier, Brandt, Inc., Acadian Seaplants Limited, Indigrow Ltd., COMPO Group, Seasol International Pty Ltd., Gelymar SA (Algina Inversiones SA), Cargill Corporation, and Biostadt India Ltd.
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