Macroalgae Market: Overview
The macroalgae market may witness expansive growth opportunities across the forecast period of 2024-2030 considering the increasing consumption of macroalgae across diverse end users such as food, fertilizers, cosmetics, and animal feed. The heightening awareness about the nutritional properties of macroalgae may also bring immense growth for the macroalgae market throughout the forecast period.
Based on type, the macroalgae market can be segmented into brown, red, and green colors. Based on application, the macroalgae market can be classified into feed, hydrocolloids, and others.
This upcoming report on the macroalgae market provides a 360-degree analysis of the current market situation. The report covers components like competitive landscape, key players, regional analysis, and ongoing trends. The report also offers thorough research on how the COVID-19 pandemic will impact the macroalgae market. The segmental study enables an individual to deeply understand the different aspects of the macroalgae market systematically.
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Macroalgae Market: Advances in Varied End-User Industries
The macroalgae market has made strides of development across various end-users and has gradually expanded its footprint. Here are some major end-users and the developments associated with it.
Animal feed: Advances in animal feed for increasing its nutritional value is garnering considerable momentum. Macroalgae play a prominent role in increasing the nutritional value of animal feed.
For instance, North Island College (NIC)’s Centre for Applied Research is researching on how seaweed can assist in enhancing the sustainability and health of cattle farming. The study has further discovered that adding specific seaweed varieties can help in gaining livestock weight and decrease greenhouse emissions. Such research activities can bring great growth for the macroalgae market.
Food: Macroalgae is used on a large scale in the food industry. It has good protein components and can help in increasing the energy quotient of the food. The growing preference for high-nutrition foods among a substantial populace is ringing the bells of growth for the macroalgae market.
The COVID-19 outbreak has led to a global crisis and has disrupted the lives of people, especially those living in remote areas. The lockdown measure has led to food shortage on a large scale. To tackle this problem, numerous world leaders on Earth Day 2024 advised boosting up macroalgal production to mitigate the global food crisis. It can be used as a highly nutritious food additive. Therefore, such factors may help in boosting the growth of macroalgae market.
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Cosmetics: Macroalgae are full of diverse minerals like manganese, potassium, calcium, phosphorus, zinc, etc. These minerals are not only good for the skin but the hair as well. Furthermore, macroalgae also have antioxidant, anti-inflammatory, and detoxifying properties. Hence, the macroalgae market may record immense growth from the cosmetics industry.
Research and development activities have also led to the discovery of macroalgae types for use in cosmetic products. Two chemists from Barbados, West Indies have explored the possibility of the use of sargassum, a microalgae type for skin care. These chemists have established a brand named OCEAN and will be the first in the world to use sargassum in skin care products.
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Macroalgae Market: Key Players
Some well-established players of the macroalgae market are as follows:
- Cargill Inc.
- Biostadt India Limited
- Qingxin Food Co. Ltd.
- Indigrow Ltd.
- Nantong Tianfu Seaweeds & Aquatics Co. Ltd.
- Extractos Naturales Gelymar S.A.
- Indigrow Ltd.
- Dow Dupoint Inc.
- Qingdao Rongde Seaweed Co. Ltd.
Macroalgae Market: Regional Analysis
The macroalgae market can be geographically segmented into North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Asia Pacific may serve as a prominent growth-contributing region for the macroalgae market between 2024 and 2030 due to the increasing emphasis on macroalgae production across the included countries. In addition, government support and initiatives are also playing a prominent role in expanding the growth of the macroalgae market. Furthermore, the rising popularity of seaweed snacks may also bring considerable growth for the macroalgae market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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