The global commercial seaweeds market is estimated to USD 14.08 billion in 2018, and it is projected to reach USD 21.11 billion by 2023, at a CAGR of 8.4% from 2018. The key players identified in the commercial seaweeds market include Cargill (US), DowDuPont (US), Roullier Group (France), COMPO EXPERT (Germany), Biostadt India (India), CP Kelco (US), Acadian Seaplants (Canada), CEAMSA (Spain), Algaia (France), BRANDT (US), Seasol International (Australia), and Gelymar (Chile).

Seaweeds are a rich source of phytochemicals that include antimicrobial and antioxidant properties. The fibers and minerals in seaweeds add mineral content and improve the quality of food products. Moreover, seaweeds contain high proportions of polysaccharides, with other potential components, such as essential fatty acids, proteins, and long-chain n-3 polyunsaturated fatty acids (PUFA). Due to the health benefiting properties of functional ingredients in seaweeds, the demand for the commercial seaweeds remains high across regions. In addition, increasing use of seaweeds as feed and biostimulant for plant growth is also driving the market.

Seaweeds are plant-like organisms that are also known as marine microalgae; they are generally attached to a rock or other hard substratum in coastal areas. The classification of seaweeds is based on various properties, such as pigmentation, the organization of photosynthetic membranes, the chemical nature of the photosynthetic storage product, and other morphological features. The application of seaweeds dates back to the fourth and sixth centuries in Japan and China, respectively. Since then, increasing investment and focus on R&D activities pertaining to seaweed were undertaken globally, which encouraged the cultivation of seaweeds. Currently, seaweeds account for more than 90% of the global markets demand.

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In 2018, the brown seaweeds segment is estimated to account for the largest share, by type, in the commercial seaweeds market, in terms of value. The inclusion of brown seaweeds in food helps in improving the joint and bone health, aids in digestion, balances hormones, and reduces hypothyroidism, fatigue, menstrual problems, cellulite, cough, asthma, stomach ailments, headaches, and hemorrhoids. In addition, consumption of brown seaweeds prevents the growth of cancer cells, helps in weight management, and protects from the adverse effects of radiation due to contact with hazardous electromagnetic pollution. Furthermore, increasing usage of alginates, extracted only from brown seaweeds in dental material has led companies to mainly manufacture alginates from brown seaweeds.

Due to the increasing presence of tropical rainforests in the Asia Pacific, various species of seaweeds are found in this region. With a wide variety of seaweed species in this region and increasing production of the seaweed-based products, Asia Pacific remains the largest supplier of seaweeds to both domestic and export markets. In addition, the bulk of seaweeds in this region is obtained from culturing (harvested through aquaculture). The key seaweed types that are in demand in this region include nori, kombu, and wakame. They are increasingly used in food preparations in the Chinese and Japanese diets. As seaweeds are nutrition-dense and are increasingly used as an ingredient in processed food, consumers prefer spending on processed food for healthy diets. The demand for clean labels and organic products is on the rise, which is also leading to the increasing use of seaweeds as organic fertilizers in the agriculture industry. The other industrial applications of seaweeds in the region include pharmaceuticals, agriculture, cosmetics, biofuel, and feed additives. These factors are projected to fuel the growth of the commercial seaweeds market in the Asia Pacific. Of the various countries in the Asia Pacific, China and Indonesia are projected to account for a major share of the market.

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