The market continues to build up momentum with the rising economies in developing countries across the globe leading to emerging market of commercial seaweeds. Seaweed has a popular application as food in various countries all over the world, dating back as early as 4th century for its origin.
According to the report “Asia-Pacific Commercial Seaweeds Market by Form (Flakes, Liquid, Powdered), by Type (Brown Seaweeds, Green Seaweeds, Red Seaweeds), by Application (Agriculture, Animal Feed, Food, Others), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the Asia-Pacific Commercial Seaweeds Market has been estimated at USD 4.39 billion in 2016 and is projected to reach USD 6.25 billion by 2021, at a CAGR of 7.32% during the forecast period from 2016 to 2021.
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The Asia-Pacific Commercial Seaweeds Market is showcasing significant potential in the mentioned forecast period.
Seaweeds are generally of three types, namely brown, green and red seaweeds, each being different based on their respective pigmentation.
Rising number of applications of commercial seaweeds is one of the driving factor for the growth of the market of commercial seaweeds. Apart from it, other drivers include medical uses of a seaweed called spirulina, increasing seaweed harvesting and usage, emerging seaweeds in the form of snacks, application of seaweeds in field of bio-refining.
The market faces some challenges and restraints as well, including harmful effects of excessive usage, natural calamities resulting in declining production. These factors have held back the market from its full potential.
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The Asia-Pacific Commercial Seaweeds Market is categorized on the basis of application, form and type. The market segmentation based on type is done into red seaweeds, brown seaweeds and green seaweeds.
Based on application, the market is segmented into agriculture, human food, animal feed and other applications. According to form the segmentation is done under flakes, powdered and liquid.
On the basis of geography, the Asia-Pacific market is analysed under various regions namely China, India, Australia, Japan and South Korea.
The major companies dominating the Asia-Pacific Commercial Seaweeds Market share include:
- Cargill Incorporated
- Roullier Group
- E.I. Dupont De Nemours and Company
- Compo Gmbh & Co. Kg
- Biostadt India Limited
- CP Kelco
- Acadian Seaplants Limited
- Seasol International Pty. Ltd
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