Portland, OR, March 27, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global seaweed market garnered $6.5 billion in 2021, and is estimated to generate $14.6 billion by 2031, manifesting a CAGR of 8.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $6.5 billion |
| Market Size in 2031 | $14.6 billion |
| CAGR | 8.7% |
| No. of Pages in Report | 305 |
| Segments covered | product, application, and region |
| Drivers | Rise in demand for seaweeds in the manufacture of hydrocolloids
Surge in applications of seaweed Higher consumption of red seaweed in the food industry |
| Opportunities | Growing application of seaweed in biofuel
Untapped market in North America & Europe |
| Restraints | Volatility in the prices of seaweed |
Covid-19 Scenario:
· The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global seaweed market, owing to the implementation of the global lockdown.
· The epidemic directly affected the seaweed farmers as demand for raw materials had decreased and prices had fallen, especially during the initial phase.
· Supply of raw materials was interrupted due to disruptions in the supply chain, which in turn, hampered the market growth.
The research provides detailed segmentation of the global seaweed market based on product, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and…
