Growing awareness concerning seaweed’s health benefits will push the global commercial seaweed market to reach US$37.8 billion by 2028, according to a new study by Grand View Research. The market will expand at a compound annual growth rate (CAGR) of 10.8% from 2021 to 2028. The seaweed market growth is also due to the rising consumption of snacks and food products derived from sea vegetables such as seaweeds. Research also predicts increased demand for commercial sea vegetables in food applications.
Seaweeds are one of the significant sources of minerals and vitamins. In addition, seaweeds regulate the estradiol and estrogen levels in the body. Brown seaweed is a significant source of iodine, which is rare in other food items or ingredients. Research also reveals that seaweed and its isolates enhance satiety, forming an essential component for developing new anti-obesity food products.
Meanwhile, the vast volume of cultivation associated with sea vegetables and the low cost of production is another major factor driving the commercial seaweeds market. Low prices and commercial viability allow farmers to opt for seaweed production, causing market growth. (Image from Unsplash)
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