Booming global seaweed market – In recent years, the seaweed sector has attracted increasing global interest, representing one of the most promising resources for the sustainable future of the seafood industry. An analysis by Straits Research confirms the extraordinary potential of the sector, especially in Asia and North America. According to the report, the global seaweed market will reach $12 billion by 2031.
Growth and Outlook for the Global Algae Market
The global commercial algae market reached a value of $9.89 billion in 2022 and is expected to grow by 2 percent annually until the next seven years to 2031, when the sector will generate $11.82 billion. This increase is attributed to the growing demand for seaweed in the food processing sector, which offers significant benefits in terms of production and agricultural sustainability.
Applications and Benefits of Seaweed
Straits Research’s analysis points out that seaweed has become critical not only for food, but also for the personal care sector. Demand for seaweed products is increasing due to creative solutions and consumer preferences that increasingly appreciate the benefits of these organisms.
Traditionally consumed in Asia, seaweed is now popular all over the world, thanks in part to the Asian diaspora who have brought their eating habits with them. In the United States and South America in particular, where Asians make up 5.4 percent of the total population, there is a significant increase in demand.
Regional Expansion of the Algae Market
Regionally, Asia-Pacific dominates the algae market and is estimated to continue to grow at a CAGR of 9.8 percent during the forecast period. North America follows with a robust growth projection, reaching an expected value of $5,778 million by 2031, with an annual growth rate of 5.8 percent.
In Europe, Germany stands out as the country with the fastest growth. This achievement is due to increased applications of algae in the food and beverage sector, including meat, dairy, confectionery, baked goods, and alcoholic beverages.
A sustainable future
Algae are a key resource for sustainable agriculture and healthy food. Their ability to grow rapidly and absorb large amounts of CO2 makes them ideal for meeting the environmental challenges of the future. In addition, the use of algae in various industries opens up new economic opportunities and technological development.
In conclusion, the algae sector is set to play a crucial role in the sustainable future of our planet, with growth potential that cannot be ignored. Continuing to invest in research and development in this field will be essential to maximize the benefits that algae can offer, both economically and environmentally.
Booming global seaweed market
