DUBLIN--(BUSINESS WIRE)--The "Seaweed Market by Product and Application - Global Opportunity Analysis and Industry Forecast, 2018-2024" report has been added to ResearchAndMarkets.com's offering.
The global seaweed market was valued at $4,097.93 million in 2017, and is projected to reach $9,075.65 million by 2024, registering a CAGR of 12% from 2018 to 2024.
Seaweed, also called as macro-algae, belongs to several species of macroscopic, multicellular, marine algae. It is classified into three broad groups based on pigmentation, which include red, brown, and green seaweed. The major utilization of these seaweeds as food and food ingredients is in Asia-Pacific.
Growing application of seaweed in various end-use industries is anticipated to drive the market growth. The human food segment accounts for the highest market share, owing to increase in utilization of seaweed for human consumption. Substances that are extracted from seaweeds such as hydrocolloids make up most of the remaining market share, while smaller application such as fertilizers, animal feed additives, aquaculture, biomass for fuel, and wastewater treatment make up the rest. Seaweeds are being extensively explored as a fuel, due to their high photosynthetic efficiency and their ability to produce lipids, a biodiesel feedstock which is anticipated to open new avenues for the seaweed manufacturers.
Red seaweeds are the largest and most abundant of the seaweeds, and thus hold a dominant position in the global market. Furthermore, they have an economically important role throughout Asia-Pacific, due to the presence of phycocolloids such as carrageenan. The carrageenan produced from seaweed has a variety of applications in food production as a thickener and stabilizer.
- Cargill Inc.
- Groupe Roullier
- Irish Seaweeds
- Qingdao Gather Great Ocean Algae Industry Group
- Annie Chun's Inc.
- Chase Organics
- GimMe Health Foods
- Maine Coast Sea Vegetables
- Mara Seaweed
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Seaweed Market, By Product
Chapter 5: Seaweed Market, By Application
Chapter 6: Seaweed Market, By Region
Chapter 7: Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/2hhvc5/global_seaweed?w=4