According to a recent report by Transparency Market Research the global commercial seaweed marketis likely to experience a highly fragmented competitive landscape. The key players are working on their product expansion and improving the product portfolios in the forthcoming years. Moreover, the players to lead in the global commercial seaweed market foresee the rise in investment in research and development, along with better range of applications to be some of the major strategies. The key players dominating the global commercial seaweed market are Acadian Seaplants Ltd., Gelymar SA, Cargill Corporation, CEAMSA, E.I. Du Pont de Nemours and Company, and CP Kelco. The organizations are even likely to reduce their operation expenses and concentrated margins for more stable business models.

As per the report by TMR, the global commercial seaweed market is likely to witness a downfall with a sluggish CAGR of 10.8% within the forecast period from 2017 to 2025. In 2016, the market was valued at worth US$10,570.3 mn. This is foreseen to reach around worth of US$26,107.9 mn by2025 end.

Based on product, the global commercial seaweed market is classified as brown seaweed, red seaweed, and green seaweed. Among these, in 2016, the segment of red seaweed segment held the major market share of around 52.6% in the entire commercial seaweed market. This segment is estimated to sustain its lead in the coming years as well in terms of revenue. Geographically, Asia Pacific region is likely to lead the commercial seaweed market hold market share of over 60%. The growth is credited to emergence of various developing nations for example, India, China, and Japan.

Positive Effect on Curing Cardiovascular Ailments to Support Market Growth

The rise in awareness about the medical advantages of commercial seaweed on daily basis is the essential development factor for the global commercial seaweed market. Seaweed is known to be high in minerals, folic acid, and nutrients. Moreover, regular utilization of seaweed additionally permits sound intake of copper, iron, and other important minerals that are significantly important for boosting the cardiovascular ailments and immune systems. Inferable from this, the interest for seaweed has been surprisingly high in parts, for example, pharmaceutical, individual consideration, nourishment, and beautifying agents.

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The demand for seaweed has likewise been high in the making of animal feed and composts as they are rich wellspring of nutrients and minerals. Seaweed-advanced creature feed encourages the domesticated animals to make fertile, live better, and upgrades milk production. Besides, the interest for commercial seaweed will even be moved by the thriving hydrocolloid rsect for gelling purpose. Their capacity to thicken food make them very popular among various food and beverages vendors.

High Cost of Seaweed to Hamper Market Growth

Then again, the global commercial seaweed market is being tested by some of the hindrances. High prices of seaweed is one of the key variables limiting the market’s development. Moreover, rising levels of water contaminations and increased usage of plastics, synthetic compounds, and different poisons into the ocean are undermining the global market for seaweed as well.