Commercial Seaweeds Market Size, Share, Trends Report 2028

IMARC Group, a leading market research company, has recently releases report titled “Commercial Seaweeds Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global commercial seaweeds market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the commercial seaweeds market?

The global commercial seaweeds market size reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.66% during 2023-2028.

What are commercial seaweeds?

At present, the increasing demand for commercial seaweeds as a fertilizer in the effective cultivation of fruits and vegetables represents one of the key factors contributing to the market growth. Besides this, the rising demand for commercial seaweeds as they enhance microbiology, increase moisture-holding capacity, and boost soil structure, is strengthening the market growth. Apart from this, the rising demand for commercial seaweeds in cosmetic products, such as body lotions and creams, is propelling the growth of the market. Moreover, the increasing consumption of plant-based products among individuals due to the rising adoption of veganism around the world is bolstering the growth of the market. Furthermore, the growing utilization of commercial seaweeds to produce hydrocolloids, such as agar, alginate, and carrageenan, which are used to thicken aqueous solutions, is offering a positive market outlook.  

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What are the growth prospects and trends in the commercial seaweeds industry?

Bio-alcohols are gaining traction worldwide due to depleting non-renewable resources and the increasing gap between fuel supply and demand. This can be accredited to the inflating income levels and improving standards of living, which have increased the sales of automobiles, in turn, creating a high strain on the environment. Moreover, growing environmental concerns have increased the demand for biofuels as they offer higher-octane fuel and leave a smaller carbon footprint in comparison to crude oil-based fuels.

 Apart from this, the COVID-19 pandemic has fueled the demand for hand sanitizers and disinfectants. As a result, several companies have started the production of bioethanol-based hand sanitizers to meet the global demand. For instance,BASF in the United States and Verbio in Germany have begun the production of bioethanol-based hand sanitizers and disinfectants. Furthermore, bio-alcohols find applications in various industries like pharmaceuticals, cosmetics, and alcoholic beverages.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup byProduct:

Brown Seaweeds

Red Seaweeds

Green Seaweeds

Breakup by Form:

Liquid

Powdered

Flakes

Breakup by Application:

Agriculture

Animal Feed

Human Consumption

Others

Breakup by Region:

North America (U.S. & Canada)

Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)

Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)

Latin America (Brazil, Mexico)

Middle East & Africa

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