The global brown commercial seaweed market is expected to grow at a significant rate in the coming years, driven by increasing demand for seaweed-based products in various industries such as food and beverage, cosmetics, and pharmaceuticals. Brown seaweed, also known as kelp, is a type of marine algae that is widely cultivated for its high nutritional value and health benefits.
According to a recent market research report, the global brown commercial seaweed market was valued at USD 12.2 billion in 2020 and is projected to reach USD 17.9 billion by 2026, growing at a CAGR of 6.3% during the forecast period (2021-2026). The rising awareness among consumers about the health benefits of brown seaweed, along with increasing research and development activities to expand its application in different industries, are some of the major factors driving the growth of the market.
Based on product type, the market is segmented into dried, liquid, and powdered forms of brown seaweed. The dried form of brown seaweed is the most widely used in the food and beverage industry, owing to its high nutritional content and flavor-enhancing properties. The liquid form of brown seaweed is commonly used in the cosmetics and personal care industry, as it contains various minerals and vitamins that are beneficial for skin and hair health. The powdered form of brown seaweed is used in pharmaceuticals and nutraceuticals, as it contains a high concentration of bioactive compounds that can help prevent and treat various diseases.
Geographically, the global brown commercial seaweed market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia-Pacific is the largest market for brown seaweed, owing to the high consumption of seaweed-based products in countries such as China, Japan, and South Korea. The region is also the largest producer of brown seaweed, with China being the leading producer and exporter of seaweed-based products.
The food and beverage industry is the largest end-user of brown seaweed, accounting for more than 60% of the market share in 2020. Brown seaweed is commonly used as a natural food additive, owing to its high nutritional content and umami flavor. It is also used as a thickener, stabilizer, and emulsifier in various food products such as soups, sauces, and dressings. In addition, the increasing demand for plant-based protein sources is expected to boost the demand for brown seaweed in the food and beverage industry, as it contains a high amount of protein and other essential nutrients.
The cosmetics and personal care industry is another major end-user of brown seaweed, owing to its various skin and hair benefits. Brown seaweed is rich in antioxidants, vitamins, and minerals that can help improve skin hydration, reduce inflammation, and protect against environmental damage. It is also used in hair care products to promote hair growth and prevent hair loss.
In conclusion, the global brown commercial seaweed market is expected to grow at a significant rate in the coming years, driven by increasing demand for seaweed-based products in various industries such as food and beverage, cosmetics, and pharmaceuticals. The market is highly competitive, with several key players operating in the market, including Cargill, DowDuPont, E.I. Du Pont de Nemours and Company, and Gelymar. The key strategies adopted by these players include product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolio.
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