The global commercial seaweeds market size is expected to be reach USD 11.9 billion by 2027, expanding at a CAGR of 9.1%, according to a new report by Grand View Research, Inc. Growing awareness concerning the product’s health benefits along with rising consumption of snacks and food products derived from sea vegetables is anticipated to augment the demand for commercial sea vegetables in food applications.
Rising health awareness among consumers is one of the major factors driving the growth of the market. Some of the key attributes of commercial sea vegetables are that they are one of the major sources of minerals and vitamins in the human body, once consumed. In addition, seaweeds regulate the estradiol and estrogen levels in the body.
Brown seaweeds are one of the major sources of iodine, which is rare in other food items or ingredients. In addition, it is highly important to regulate the estradiol and estrogen levels in the human body. Use of seaweed and its isolates enhances satiety further reducing the postprandial absorption rates of glucose and lipids for human feeding studies that helps in development of anti-obesity foods. Seaweed also forms an important ingredient for development of new food products.
The huge volume of cultivation associated with sea vegetables along with low cost of production is a major factor driving the commercial seaweeds market. Low costs and commercial viability is allowing farmers to opt for seaweed production, thereby driving the market.
Mercury is one of the most common minerals found in oceans and in ocean fishes. It is present in high quantities in sea vegetables as compared to the amount of mercury consumed by humans in their regular diets. It can result in numerous health issues including anxiety, muscle weakness, skin rashes, numbness in the hands and feet, memory problems, trouble in speaking, hearing, or seeing which is expected to restrain market growth.
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Further key findings from the report suggest:
- The agriculture segment accounted for a market share of 8.5% in terms of revenue in 2019. Sea vegetables help in conditioning the soil by controlling the displacement of the upper layer of the soil
- The human consumption application segment is anticipated to witness a CAGR of 9.3% from 2020 to 2027 and is projected to reach USD 9.2 million in 2027 owing to its wide range of applications in human consumption
- In Asia Pacific, the market is estimated to witness a CAGR of 9.3% from 2020 to 2027 owing to increasing consumption of organic foods in the region
- In North America, the market is anticipated to witness a CAGR of 8.8% over the forecast period owing to growth in harvesting of sea vegetables in the region
- Some of the key manufacturers operating in the commercial seaweeds market are Roullier Group; Cargill, Incorporated; Biostadt India Ltd; E.I. DuPont Nemours and Company; and Compo GmbH and Co