The global seaweed cultivation market size is estimated to be valued at USD 16.7 billion in 2020. It is projected to reach USD 30.2 billion by 2025, recording a CAGR of 12.6% during the forecast period. The demand for seaweeds as a raw material from various end-user industries, such as food, agriculture, animal feed, cosmetics, pharmaceuticals, energy, etc. and growth in consumer awareness regarding seaweeds health benefits are expected to drive the growth of the seaweed cultivation market.
Key players in this market include Cargill, Incorporated (US), DuPont (US), Groupe Roullier (France), CP Kelco U.S., Inc. (US), Acadian Seaplants (US), Qingdao Gather Great Ocean Algae Industry Group (China), Qingdao Seawin Biotech Group Co. Ltd. (China), Qingdao Bright Moon Seaweed Group Co. (China), Seaweed Energy Solutions AS (Norway), The Seaweed Company (Netherlands), Algea (Norway), Seasol (Australia), Gelymar (Chile), Algaia (France), CEAMSA (Spain), COMPO EXPERT (Germany), Leili (China), Irish Seaweeds (Ireland) and AtSeaNova (Belgium).
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DuPont operates through five business segments – nutrition & biosciences, safety & construction, transportation & industrial, electronics & imaging, and non-core. Under its nutrition & biosciences segment, the company provides solutions for the global food and beverage, biomaterials, microbial control, textile processing, fabric and home care, personal care, bioenergy, and animal nutrition markets. It has subsidiaries in nearly 70 countries worldwide and has manufacturing operations in nearly 40 countries. Under its nutrition & biosciences segment, it offers seaweed-based products used in dairy, bakery, beverages, confectionery, frozen desserts, meat, poultry & seafood, and fruits vegetable preparations for thickening, gelling, texturizing, stabilizing, and flavoring purposes. These products are also used in wound care and dental fixtures.
The company mainly focuses on developing innovative and new products and solutions to meet the food industry’s requirements and underscore profitable opportunities in the seaweeds market. For instance, DowDuPont acquired the FMC Corporation (US) health & nutrition business to expand its product portfolio of alginates in November 2017.
Cargill, Incorporated operates through four business segments: food ingredients & applications, animal nutrition & protein, origination & processing, and industrial & financial services. It offers seaweed-based products through its food ingredients & applications division. It provides a wide range of carrageenan products to numerous food industries and the pharmaceutical and cosmetic industries. The company is operating in 70 countries and has its R&D centers in Europe, North America, and Latin America. These centers provide services in various countries of Africa, Europe, Asia, Latin America, North America, and the Middle East and improve the company’s global presence.
The company is focusing on helping farmers increase productivity in agriculture and contribute to sustainable product development. In addition, the company has a robust technology-driven approach to connect and grow with customers. It is increasingly investing in R&D activities for product innovation. For instance, in July 2018, Cargill expanded its portfolio of the Seabrid ingredient used in dairy products to improve the texture. This would help the company target the dairy markets in the Middle East, Africa, and Eastern Europe.
Seaweed Cultivation Market by Type (Red, Brown, Green), Method of Harvesting (Aquaculture, Wild Harvesting), Form (Liquid, Powder, Flakes, Sheets), Application (Food, Feed, Agriculture, Pharmaceuticals), and Region - Global Forecast to 2025
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