Kelp Products Market to Reach $1,073.5 million, Globally, by 2032 at 6.2% CAGR: Allied Market Research

The global market for kelp products is driven by rise in demand for natural ingredients anddiverse applications of kelp-derived substances. As interest in sustainable and environmentally friendly products grows, kelp products continue to gain prominence across industries, showcasing the versatility and potential of this marine resource.

Wilmington, Delaware, March 19, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled,Kelp Product Market by Type (Dried Type, Fresh Type, and Salted Type), Application (Food, Agriculture, Pharmaceuticals, and Others), and Form (Liquid, Powder, and Flakes): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global kelp products industry generated $643.4 million in 2022 and is anticipated to generate $1,073.5 million by 2032, witnessing a CAGR of 6.2% from 2023 to 2032. 

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Prime determinants of growth 

The global market for kelp products is driven by rise in demand for natural ingredients and diverse applications of kelp-derived substances. As interest in sustainable and environmentally friendly products grows, kelp products continue to gain prominence across industries, showcasing the versatility and potential of this marine resource. However, the cultivation of seaweed majorly depends upon the climatic conditions and air moisture content. Warm climate affects the cultivation of seaweed, as warm climate causes evaporation of water and prevents formation of thicker seaweed which hampers the market growth. Moreover, seaweed finds application in wastewater treatment. The effluent water from fish farms usually contains high levels of waste that cause problems to other aquatic life. Seaweeds absorb heavy metal ions such as zinc and cadmium from the polluted water and purify the water in areas adjacent to fish farms which is likely to bring myriad opportunities for the market. 

Report coverage & details:

Report Coverage  Details 
Forecast Period  2023–2032 
Base Year  2022 
Market Size in 2022  $643.4 million 
Market Size in 2032  $1,073.5 million 
CAGR  6.2% 
No. of Pages in Report  300 
Segments Covered  type, application, form and region 
Drivers  Rise in demand for natural ingredients and the diverse applications of kelp-derived substances 
Opportunities   Increase in awareness about the health benefits of seaweed 
Restraints  Change in climatic conditions can hamper the market growth 

The fresh type segment to maintain its leadership status during the forecast period 

By type, the fresh type segment held the highest market share in 2022, accounting for more than half of the global kelp products market revenue and is estimated to maintain its leadership status during the forecast period. However, the salted type segment is projected to attain the highest CAGR of 8.3% from 2023 to 2032. 

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The agriculture segment to maintain its lead position during the forecast period 

By application, the agriculture segment held the highest market share in 2022, accounting for more than one-fifth of the global kelp products market revenue and is estimated to maintain its leadership status during the forecast period. However, the food segment is the fastest-growing segment and is projected to register the highest CAGR of 7.9% from 2023 to 2032. 

The powder segment to witness the fastest growth during the forecast period 

By form, the powdersegment held the highest market share in 2022, accounting for nearly two-fifth of the global market revenue, and is estimated to maintain its leadership status during the forecast period. However, the flakes segment is projected to attain the highest CAGR of 7.0% from 2023 to 2032. 

Asia-Pacific to maintain its dominance by 2032 

The Asia-Pacific region held the highest market share in 2022, accounting for two-fifth of the global market revenue, and is estimated to maintain its leadership status during the forecast period. It is also the fastest growing region and is projected to attain the highest CAGR of 7.2% from 2023 to 2032.  

Leading Market Players: – 

  • UPFIELD B.V. 
  • KITE HILL 
  • MIYOKO’S CREAMERY 
  • TOFUTTI BRANDS, INC. 
  • TREELINE TREENUT CHEESE COMPANY, LLC. 
  • VTOPIAN ARTISAN CHEESES, LLC 
  • SAPUTO INC. 
  • PARMELA CREAMERY 
  • GOOD PLANET FOODS INC.
  • NUTS FOR CHEESE
  • ABOVE FOOD INC. 
  • TYNE CHEASE LIMITED 
  • BEL SA 
  • DANONE S.A. 
  • MAPLE LEAF FOODS, INC.

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The report provides a detailed analysis of these key players in the global Kelp products market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.  

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About Us  

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.  

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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