Seaweed Market to Generate $14.6 Billion by 2031: Allied Market Research – Press Release

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…