Seaweed Market Size, Share, Development by 2024Posted by kailas waghmare on March 13th, 2019 According to a new report published by Allied Market Research, titled, Seaweed Market by Product and Application: Global Opportunity Analysis and Industry Forecast, 2018-2024 the global seaweed market size was valued at ,097.93 million in 2017, and is projected to reach ,075.65 million by 2024, registering a CAGR of 12.0% from 2018 to 2024. In 2017, the red seaweed accounted for more than eight-ninths share of the global seaweed market, in terms of value. Download Request Sample @: http://bit.ly/2Chuc3E Seaweed, also called as macro-algae, belongs to several species of macroscopic, multicellular, marine algae. It is classified into three broad groups based on pigmentation, which include red, brown, and green seaweed. The major utilization of these seaweeds as food and food ingredients is in Asia-Pacific, particularly in China, Indonesia, Philippines, Korea, and Japan where seaweed cultivation has developed into a huge industry. Seaweed farming is becoming an increasingly competitive market for food and related products across the globe. Growing application of seaweed in various end-use industries is anticipated to drive the seaweed market growth. The rise in pharmaceuticals industry is expected to rise the product application scope in the industry. This in turn, is also expected to boost the growth of global seaweed market over the forecast period. The human food segment accounts for the highest share in seaweed market, owing to increase in utilization of seaweed for human consumption. Substances that are extracted from seaweeds such as hydrocolloids make up most of the remaining market share, while smaller application such as fertilizers, animal feed additives, aquaculture, biomass for fuel, and wastewater treatment make up the rest. Increase in demand for seaweeds in the manufacture of hydrocolloids, such as agar, alginate, and carrageenan, is anticipated to boost the demand for seaweeds in during the forecast period. Agar, alginate, and carrageenans are premium seaweed hydrocolloids, which are used as gelation and thickening agents in different food, pharmaceutical, and biotechnological applications. Hydrocolloid polysaccharides have significant importance, both technologically and economically, since they are used in the food, pharmaceutical, medicinal, and biotechnological industries, due to their distinct physicochemical properties. Companies worldwide are focusing their R&D efforts on technological innovations to expand the functionalities as well as applications of various types of hydrocolloids across several end-user industries. For instance, in 2017, Cargill Inc. launched Seabrid, a new and innovative type of carrageenan extract of seaweed as thickening agent to give firmness, creaminess, and body to wide range of gelled dairy dessert formulation such as flan, custard, and crme caramel. Get a purchase enquiry@: http://bit.ly/2XW8H1m Major Players:
Red seaweeds are the largest and most abundant of the seaweeds, and thus hold a dominant position in the global seaweed market. Furthermore, they have an economically important role throughout Asia-Pacific, due to the presence of phycocolloids such as carrageenan. The carrageenan produced from seaweed has a variety of applications in food production as a thickener and stabilizer. Thus, higher consumption of red seaweed in the food industry is anticipated to drive the seaweed market growth. In addition to this, the human food application segment held the highest market share in 2017, as seaweeds are used in many maritime countries across the globe as a source of human food. Moreover, the major utilization of these seaweeds as food and food ingredients is in Asia-Pacific, particularly in China, Indonesia, Philippines, Korea, and Japan where seaweed cultivation has developed into a huge industry. Key Findings of the Seaweed Market :
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