LONDON--(BUSINESS WIRE)--The global seaweed market size is expected to grow by USD 11.48 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 12%.
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The seaweed market is driven by the health benefits of seaweeds. In addition, the rising number of vegans and vegetarians is anticipated to boost the growth of the Seaweed Market.
Seaweed market is mainly driven by the health benefits of seaweeds. Seaweed is a natural substitute for salt and exhibits antioxidant, antimicrobial, and anti-inflammatory properties that are required to lower blood cholesterol levels and regulate blood pressure. Seaweed also aids in digestion and weight management since it contains low calorie and fat content, provides fiber, and contains alginate — an anionic polysaccharide that is known to cut fat absorption). It is rich in omega-3 fatty acids, dietary fiber, essential amino acids, and vitamins A, B, C, and E. Seaweeds also contain various essential minerals such as calcium, iodine, iron, copper, selenium, magnesium, manganese, potassium, molybdenum, phosphorus, vanadium, and zinc.
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Major Five Seaweed Companies:
Biostadt India Ltd.
Biostadt India Ltd. produces and markets insecticides, herbicides, fungicides, hybrid seeds, and aqua products. The company offers Zymaq, which is a biotechnological research product based on seaweed extract naturally enriched with enzyme precursors, primary and secondary micronutrients through fermentation process.
Cargill Inc. has business operations under various segments such as agriculture, animal nutrition, beauty, bioindustrial, food and beverage, pharmaceutical, industrial, and meat and poultry. The company offers a wide range of commercially available carrageenans, derived from different types of red seaweeds (Rhodophyceae) from the Gigartinales group.
CJ CheilJedang Corp.
CJ CheilJedang Corp. operates its business through two segments: food division and bio division. The company offers seaweed products for use in a variety of Korean cuisine food.
DuPont de Nemours Inc.
DuPont de Nemours Inc. has business operations under various segments such as electronics and imaging, nutrition and biosciences, transportation and industrial, safety and construction, and non-core. The company offers SeaGel, which is a plant-based alternative to gelatin in the production of soft capsules based on seaweed extract.
Grupa Azoty SA
Grupa Azoty SA operates its business through various segments such as agro fertilizers, plastics, chemicals, energy, and other activities. The company offers Basfoliar Kelp SL, which is a natural high-quality biostimulant based on the extract of the seaweed Ecklonia maxima.
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Seaweed Market Type Outlook (Revenue, USD bn, 2020-2024)
- Red seaweed - size and forecast 2019-2024
- Brown seaweed - size and forecast 2019-2024
- Green seaweed - size and forecast 2019-2024
Seaweed Market Regional Outlook (Revenue, USD bn, 2020-2024)
- APAC - size and forecast 2019-2024
- Europe - size and forecast 2019-2024
- North America - size and forecast 2019-2024
- MEA - size and forecast 2019-2024
- South America - size and forecast 2019-2024
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