The rising health consciousness and adoption of a healthy diet to reduce unhealthy eating habits are the significant factors driving the market for seaweed snacks.
Market Size: 1.64 billion in 2021, Market Growth: CAGR of 11.3%, Market Trends: Innovative techniques used by market players to retain the market position.
Seaweed snacks have been consumed in many parts of East Asia for years now and have gained popularity throughout the globe. The increasing popularity and demand for Japanese cuisine, especially sushi in western countries is also increasing the market demand for seaweed snacks.
These snacks are typically derived from 3 types of seaweeds viz. brown, red, and green. They are a rich source of vitamin A, B6, E, and K, magnesium, anti-oxides, potassium, iron, calcium, and magnesium. The rising vegan population in several countries followed by increasing awareness about health and nutritional food has increased the overall market demand for seaweed snacks. The surging demand for healthy food consumption among consumers and the growing trend for gluten-free, GMO products are augmenting the demand for seaweed snacks globally.
The untapped market potential in the emerging nations is expected to open new opportunities for the leading players in the seaweed snacks market. Several market players are aiming for new strategies for product launches, acquisitions, mergers, and collaborations to retain their position in the global industry.
Factors such as inconsistent raw material costs and expensive production costs are predicted to hamper the expansion of the seaweed snacks market.
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Further key findings in the report:
- Based on the source, red seaweed led the market share in 2020. It is assumed that the red segment will retain its supremacy during the projected period as the red seaweed is used in making nori sheets used in the preparation of sushi. There has been a high demand for sushi among consumers of serval countries which is predicted to expand the market for red seaweed. The green seaweed segment is predicted to increase with the highest CAGR of 13% during the analysis period of 2021 to 2028.
- In context to the product type, the bar snack section is projected to report the highest CAGR during the forecast timeline of 2021 to 2028. The snack bars are available in sweet and savory flavors with a variety of ingredients added to them. The new flavors and varied structures of the bars are attracting a lot of consumers and thereby increasing the demand for seaweed bars.
- In context to the distribution channel, the offline channel is leading the global market due to consumer preference to shop in person and the abundant variety of seaweed snacks in the supermarkets and retail stores. Although, there are people who find it suitable to shop from their houses instead of visiting the stores. Thus, the online distribution channel is predicted to expand at a significant rate during the projection period, mainly due to the discount prices offered by online portals.
- The strips and chips segment has been contributing to more than 50% of the global market and is expected to hold its dominance during the projected period. The launching of new snack products is estimated to increase the demand for the strips and chips segment.
- The Asia Pacific region is seen dominating the seaweed snacks market for many years with market revenue of more than 50% of the global industry. Japan, South Korea, China, and Thailand are the predominant contributors in the APAC region owing to the availability of different seaweed products.
- Key players in the seaweed snacks market include Annie Chun’s, SeaSnax, Eden foods gimMe Health Foods Inc., Taokaenoi Food & Marketing, Roland’s foods, and Oceans Halo.
For this study, Reports and Data has segmented the global seaweed snacks market based on Source, Product Type, Distribution Channel, and Region:
Source Outlook (Revenue, USD Million, 2021 – 2028)
Product Outlook (Revenue, USD Million, 2021 – 2028)
- Strips & Chips
Distribution Channel Outlook (Revenue, USD Million, 2021 – 2028)
- Convenience Stores
Regional Outlook (Revenue, USD Million, 2021 – 2028)
- South Korea
Central & South America
Middle East & Africa
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Table of Content:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Distribution Channel Outlook
2.4. Competitive Insights
Chapter 3. Seaweed Snacks Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
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