Seaweeds are macroscopic, multicellular marine algae, and are used to extract various gums used in products ranging from food and cosmetics to paints and textiles. The wide range of applications of seaweed products means the seaweed market is certain to grow robustly over the forecast period, with the multiple end-use industries of seaweed products all registering growing demand for the same due to the natural origin of seaweed. The demand for natural ingredients in products with which human consumers come in direct contact has been a staple of the consumer products industry over the last few decades, and the innovation and research into the use of seaweeds has given the industry a boost that is likely to last well into the forecast period (2017-2023).
Market Research Future (MRFR) has announced a new research report on the global seaweed market. The report looks into the use of seaweed in its multifarious end-use industries and presents a comprehensive picture of the market’s likely growth trajectory over the 2017-2023 forecast period.
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Leading players in the global seaweed market include P. L. Thomas and Co. Inc., Cargill Foods, Polygal AG, Ingredients Solutions Inc., Arthur Branwell & Co. Ltd., Snap Alginates, and Kimica Alginates. Product innovation to find new application channels for seaweed is likely to remain a popular strategy for players in the global seaweed market over the forecast period.
The global seaweed market is segmented by type, form, and end use.
By type, the global seaweed market is segmented into red seaweed, green seaweed, and brown seaweed. Of these, red seaweed holds the dominant share in the global seaweed market due to its widespread use in the food industry. Red seaweed contains a large amount of antioxidants, as well as vitamins and minerals, which is likely to make it one of the most popular supplements and food additives in the coming years. The demand for natural food supplements is growing rapidly among the urban population across the world, which is likely to be a major consumption channel for red seaweed over the forecast period. Red seaweed is also found to have beneficial properties in controlling blood sugar levels. The growing prevalence of diabetes across the world is likely to help the red seaweed market garner new end-use channels, as modern healthcare research is branching out into novel directions in order to make the most of the natural resources available to us.
By form, the global Seaweed Market is segmented into flakes, liquid, powder, and others. Of these, liquid formulations are likely to hold the dominant share in the global seaweed market over the forecast period due to their ease of use and storage.
By end use, the global seaweed market is segmented into textiles, food, paper and pulp, welding rods, pharmaceuticals, personal care products, and others. The food and personal care industries are likely to hold a major share in the global seaweed market over the forecast period, due to the growing demand for natural ingredients in these industries. Consumers across the world are becoming wary of chemical ingredients and increasingly prefer natural alternatives. The demand for radical and unconventional natural products is likely to help drive the consumption of seaweed in the food and personal care industries over the forecast period.
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Geographically, the global seaweed market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World. Of these, APAC is likely to hold the dominant share in the global seaweed market over the forecast period. The increasing disposable income of the population in developing APAC countries has led to an increasing demand for novel products, including food and cosmetics products. The urban population in APAC countries has emerged as a major consumer demographic for personal care product manufacturers, due to the high volume and growing disposable income of APAC consumers. This demographic is likely to play a major role in the global seaweed market over the forecast period. Major importers of seaweed include the U.S., China, Japan, Thailand, and Australia.
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