Commercial Seaweed Market Size, Share, and Trends 2024 to 2033

Commercial Seaweed Market Size and Growth

The global commercial seaweed market size was USD 12.12 billion in 2023, accounted for USD 12.45 billion in 2024, and is expected to reach around USD 15.8 billion by 2033, expanding at a CAGR of 2.7% from 2024 to 2033.

Commercial Seaweed Market Key Takeaways

• Asia Pacific dominated the market and generated more than 93% of the revenue share in 2023.
• The green seaweed product segment captured a maximum revenue share of over 50% in 2023.
• The leaf form segment generated more than 42% of the revenue share in 2023.
• The human consumption application segment contributed 77% of the revenue share in 2023.

Asia Pacific Commercial Seaweed Market Size and Growth 2024 to 2033

The Asia Pacific commercial seaweed market size was estimated at USD 11.29 billion in 2023 and is predicted to be worth around USD 15.02 billion by 2033, at a CAGR of 2.9% from 2024 to 2033.

The major share of the market is held by the Asia Pacific region. Traditional cuisines make use of commercial seaweed in the nations like Vietnam, Japan, and China. Macroalgae play a significant role in the growth of the market. Personal care and cosmetic products make use of commercial seaweed, and the popularity of these products has grown significantly in recent times. Considerable growth will be registered by the North American region during the forecast period. This is due to the growing demand for plant-based products.

Vegetarian diets and vegan diets are gaining popularity in the North American region due to which the need for commercial seaweed will grow. Functional beverages and functional foods are also gaining popularity in the North American region due to which the use of commercial seaweeds like algae has grown. Technological advancements and developments will play an important role in the harvesting and cultivation of algae.

Steady growth will be registered in the European market. Natural supplements and high-quality supplements have a greater demand in these nations. A vegan diet will also increase the use of seaweed. The oceanic geographical area of South America will play an instrumental role in the growth of the market. Remarkable opportunities will be provided by these nations for the development of the market.

Market Overview

Commercial seaweed is a marine plant food that has prevalent use in the medicine and food industry. Commercial seaweed is green, brown, and red in color and it's also called marine algae. It comes in spherical, broad, and delicate finger shapes. For many centuries, commercial seaweed is being used across the globe. For the coastal community, seaweed is a source of food.  The extensive use of commercial seaweed in the beverages and food industry has increased in recent times. 

The presence of micronutrients and macronutrients in commercial seaweed makes it extremely desirable. Nutrients like chlorine, phosphorus, sulfur, sodium, potassium, calcium, zinc, magnesium, and copper are present in commercial seaweed. Commercial seaweed is available in about 221 species around the world. Brown and red-colored seaweed are extensively used for commercial purposes. Carrageenan is a seaweed that is widely used in the food and beverages industry as it has hydrocolloid properties.

Commercial Seaweed Market Growth Factors

• Rapid urbanization will play a significant role in the growth of the commercial seaweed market.
• The hectic lifestyle of consumers across the globe has created more demand for processed food that makes use of commercial seaweed.
• Commercial seaweed is used in the pharmaceutical sector, and this is expected to drive market growth.
• There are many digestive and nutritional health benefits associated with the consumption of commercial seaweed, and this is expected to have a positive impact on market growth.
• Commercial seaweed is also being used in the formulation of infant formula due to its health benefits. 
• Sustainable products are introduced in the market, and these are expected to provide major opportunities for the growth of commercial seaweed in the coming years.
• Increased application of commercial seaweed in different industries will drive market growth.

Commercial seaweed is used as an emulsifying agent and particle suspension due to which it is expected to have promising growth during the forecast period. Commercial seaweed is also used in the agricultural sector as a fertilizer which helps in increasing cultivation. To increase food security and increase yield, the demand for such fertilizers has grown extensively. Technological advancements will increase the use of commercial seaweed in various industries. 

The use of commercial seaweed in the cosmetic industry has also grown in recent times. Several policies regarding the cultivation of seaweed have also played an instrumental role in the growth of the market. Environmental sustainability and economic sustainability are the focus of new policies enacted by the government. Commercial seaweed is also extremely effective in treating diabetes and thyroid dysfunctions. The consumption of commercial seaweed increases the amount of fiber intake of a person without increasing the number of calories.

Commercial Seaweed Market Scope 

Commercial Seaweed Market Dynamics

Key Market Drivers

Increased use of commercial seaweed in processed food

• Carrageenan is a commercial seaweed that is used majorly in the food industry. Commercial seaweed acts as a thickener, protein stabilizer, emulsifier, and stabilizer product. Its use in dairy products, salad dressings, chocolate milk, sour cream, and ice cream has increased in recent times. Commercial seaweed is used as an alternative in the preparation of various food products that make use of gelatin, and this helps in serving the growing popularity of a vegan diet. 
• The growing use of commercial seaweed in confectionaries, beverages, and baked products will drive market growth. The convenience food and processed food market will increase the growth rate of the commercial seaweed market.

Commercial seaweed in drug delivery

• Drug delivery system makes use of commercial seaweed in the pharmaceutical sector. The characteristics of commercial seaweed of having a stronger negative charge and it being a gelling agent it is expected to have a greater adoption in the pharmaceutical sector. It acts as a carrier for the microparticles and the nanoparticle system. Commercial seaweed is used in cell delivery and tissue regeneration.

There are many digestive benefits of commercial seaweed

• Commercial seaweeds contain dietary fibers, omega-3 fatty acids, vitamin B, vitamin E, vitamin C, and vitamin A. The gut health in humans is improved to a greater extent due to the consumption of commercial seaweed in different ways.

Changing lifestyle of the consumers

• Urbanization and rapid change in the lifestyle of consumers will create more demand for infant formula in the coming years and the use of commercial seaweed in the formulation of infant food will witness growth.

Key Market Restraints

Natural calamities of the coastline and ocean

• Natural calamities like droughts, earthquakes, floods, volcanic eruptions, diseases, and typhoons will harm the commercial seaweed market. Productivity will be hampered to a great extent. And all these factors will restrain the growth of the market during the forecast period. Organic ways are adopted by the vendors to increase the productivity of commercial seaweed.

Key Market Opportunities

Government initiatives will drive the market growth

• To support commercial seaweed farming Indian government has taken a few steps in recent times. By 2025, India aims at producing 1,000,000 tons of commercial seaweed every year. An investment of 86.8 million U.S. dollars is made in the Blue Revolution scheme. The Maritime Affairs and Fisheries Ministry announced the launch of new industrialization zones for seaweed in 2022 and this step will help the nation in increasing the profits earned through seaweed products.

Key Market Challenges

Strict regulations

• Strict regulations implemented by the government of various nations across the globe will harm the growth of the commercial seaweed market. The growth rate is slowed down due to such laws. 

Product Insights

Based on the product, the green seaweed segment generated a maximum revenue share of around 50% in 2023. Green algae play an important role in preventing cancer. Dietary supplements that comprise green algae have a greater demand in the market and these supplements are available in tablet and capsule form.

The brown seaweed segment will also generate a significant amount of revenue. In many industries like the animal feed industry, agricultural industry, and the food and beverages industry brown seaweed is used extensively. It is used as a thickener and an emulsifier in different syrups.

The protein and vitamin content in red seaweed is high which is a great alternative for proteins. Red seaweed provides numerous health benefits as it helps in lowering bad cholesterol and it also helps in controlling blood sugar levels. It helps in providing nourishment to the skin, enhancing immunity, and providing ample antioxidants. All these factors will drive market growth in the coming years. Ongoing research for the use of alginic acid which is derived from brown seaweeds in the manufacturing of lithium-ion batteries will increase the demand for brown seaweeds during the forecast period.

Application Insights

Based on application, the human consumption segment generated the highest revenue share of over 77% in 2023. Health benefits and nutrient-enriched food are the properties of commercial seaweed and these two factors play an important role in the growth of the market. In the nations like Philippines, Japan, Malaysia, South Korea, China, and Indonesia the need for seaweeds has grown due to numerous cultural factors.

The other applications segment will also grow at a CAGR of 3.7% during the forecast period. Commercial seaweed is used in botanical research, chemical research, preparation of biofuel, and coloring additives. All these applications are expected to show successful growth in the coming years. Constant research and development in the field of commercial seals will increase their applications in many industries.

Form Insights

The leaf segment has generated a maximum revenue of around 42% in 2023. In the nations like Indonesia and China, these leaves are used in many local cuisines. Commercial seaweed is also used in the preparation of local cuisines of Iceland, Ireland, and Norway. Seaweed is also used in pickles, salad, and as a vegetable additive.

The powdered seaweed will register a significant compound annual growth rate of 2.4% as its use in the food industry and the cosmetic industry has grown. This format has a greater use as it is easy for transport and storage. The cost of spoilage and the operational cost has been reduced to a great extent. As vegan products are gaining popularity the use of the powdered form of commercial seaweeds will grow.

Commercial Seaweed Market Companies

• Wild Irish Seaweeds
• Acadian SeaPlus
• Organic Irish Seaweed-Emerald Isle
• KwangcheonKIm
• Cascadia Seaweed
• Ocean Rainforest
• Springtide Seaweed, LLC
• BLUE EVOLUTION
• Earaybio
• Kai Ho "Oceans Treasure"
• Aushadh Limited.
• BY VIET DELTA
• Shore Seaweed
• ALGOLESKO
• Raw Seaweeds
• Cargill, Incorporated
• AtSeaNova
• Kelp Industries Pty, Ltd.
• Maine Coast Sea Vegetables
• MARA SEAWEED
• Marcel Carrageenan
• Pacific Harvest
• Seaweed Solutions AS
• The Seaweed Company
• Irish Seaweeds

Recent Developments

• Seaweed and company which is a Scotland-based organization agreed with Univar solutions in 2019 to expand the organization's portfolio to meet the growing demand of consumers by providing novel seaweed for sustainability, taste, and health.

Segments Covered in the Report:

By Product

• Brown Seaweed
• Red Seaweed
• Green Seaweed

By Application 

• Agriculture
• Animal Feed
• Human Consumption

By Form 

• Leaf
• Powdered
• Flakes

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa