Government Grants for Ocean Farming to Augment Growth of Commercial Seaweed Market - Fact.MR
The global specialty feed additives market is estimated to grow at a modest CAGR of over 5% during the forecast period (2019-2027).
Key Takeaways of Commercial Seaweed Market
• APAC accounts for 70% share in global Commercial Seaweed market, and is expected to present an ongoing growth trend.
• Europe and North America collectively are expected to grow the fastest among other regions and are anticipated to grow 1.7X in terms of value in 2019 owing to abundant government grants.
• The use of Carrageenan from red seaweed in infant supplements is likely to create new revenue streams.
• Red seaweed is expected to acquire more than 50% market share among other seaweed types during the forecast period.
• Emerging economies like China, India, and Indonesia are key producers of seaweed.
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The inherent properties of seaweed are benefitting various industries in their purest form. The direct consumption and increased applications will attract players to reap benefits in the long term, while the erratic production and supply owing to environmental factors will affect the pricing of seaweed in the market. - says the Fact.MR analyst
Commercial Seaweed Manufacturers Eyeing Potential Markets for Revenue Generation
Currently, the commercial seaweed market is consolidated in East Asia and South Asia, as a large number of players have originated from this region. The growing demand for seaweed is encouraging manufacturers to increase their reach and product portfolio in the global market. Europe is an emerging region as approved applications of seaweed in pharmaceuticals and food and beverage industry are increasing. The recent past states that Europe imports about 40% of total seaweed from Indonesia. Inconsistent production is affecting the price of seaweed which in turn is pushing more players to enter the commercial seaweed market space to bring in regularity in production and supply.
PR Source- https://www.factmr.com/