The report estimates and forecast the seaweed market in terms of volume consumption (KT) and revenue (in USD million) generated by the seaweed from 2016 to 2021.
Oct, 2016: A latest report was published by Axiom MRC on global seaweed market, by type, by application and by geography. The report estimates and forecast the seaweed market in terms of volume consumption (KT) and revenue (in USD million) generated by the seaweed from 2015 to 2021. The global seaweeds market was valued at USD 10 billion in 2015. It is projected to reach USD 14.8 billion by 2021 at a compound annual growth rate of 6.03% from 2016 to 2021.
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The report followed an extensive secondary research and in depth primary research with key industry participants such as seaweed processing companies, seaweed harvesting organizations, seaweed traders etc. Interviews were conducted to validate and gather market share, industry trends, market growth factors, restraints and seaweed market competitions.
By type of the seaweed, Red Seaweed dominated the global seaweed market with a largest market share followed by Brown Seaweed. Growing use of seaweeds in human food and as agar and carrageenan is driving the market for red seaweeds and the market for brown seaweeds is increasing due to its high use in animal feed additives and fertilizers.
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The report includes major applications of seaweed such as human consumption, fertilizers, animal feed additives, medical applications, biotechnological applications and others. Human consumption is the largest applications of seaweeds followed by animal feed additives. By geography the report was studied for North America, Europe, Asia-Pacific, Latin America and RoW which includes South Africa and the middle-East. Asia-Pacific held the largest market share of 62% in the global seaweeds market in 2015.
Key companies considered in the seaweed market were Acadian Seaplants Limited, Brandt, E.I. Dupont De Nemours and Company, Cargill, Incorporated, Compo Gmbh & Co. Kg, Biostadt India Limited, Gelymar, Ocean Harvest Technology, MSC Co.,Ltd., TBK Manufacturing Corporation, CP Kelco, High Hope Foods (Nanjing) Co., Ltd., Ocean Rainforest Sp/F, Seasol International Pty. Ltd, Lonza Group Ltd, W Hydrocolloids, Inc, Roullier Group etc.
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