In 2022, the seaweed market size was valued at USD 8.3 Bn. in 2022.
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According to the 'Seaweed Market Forecast 2023-2029' report, the total seaweed revenue is expected to grow by 12.36 % from 2023 to 2029, reaching nearly USD 18.77 Bn. In 2022, the seaweed market size was valued at USD 8.3 Bn. in 2022.
The 'Seaweed Market Forecast 2023-2029: Unveiling Growth Potential in Sustainable Aquaculture, Nutritional Trends, and Market Expansion Strategies' report has been published by the business consultancy firm Maximize Market Research.
The consultancy firm has worked with industry experts and key stakeholders and dealt with surveys, analysis of relevant literature and company reports to offer key business insights, demand analysis, pricing analysis, and competitive landscape.
Finally, the study covers countries that belong to North America, Europe, Asia-Pacific, South America, and Middle East, and Africa.
Consumers seek more healthy and nutritional products which leads to a higher demand for ingredients rich in vitamins, minerals, and antioxidants.
Consequently, Asian cuisine demand, inventive product development, and the integration of seaweed into a variety of food products globally are increasing.
Also, seaweed production allows for more sustainable aquaculture. Seaweed farms include carbon sequestration and nutrient absorption, which aligns with eco-friendly practices confirms the report.
A solid proof of all mentioned is the increased demand from Western markets, particularly the US.
In 2022, the Asia Pacific region dominated the seaweed market and is expected to still do it during 2023-2029. In more detail, China, Japan, South Korea, and Indonesia, are the leading countries with high demand and consumption rates.
Additionally, this region are key player when it comes to seaweed cultivation, processing, and trade. Moreover, China is one of the largest producers and consumers of seaweed globally.