The development of innovative seaweed-based feed formulations and the adoption of novel manufacturing technologies are key trends in the seaweed-based feed market.
NEWARK, Del, Dec. 18, 2023 (GLOBE NEWSWIRE) — The global seaweed-based feed market value is estimated to total US$ 1,251.0 million in 2023. Over the assessment period, demand for seaweed-based feed products is predicted to expand at an impressive CAGR of 16.0%. By 2033, the total market valuation is set to reach US$ 2,385.6 million.
Several factors are expected to drive growth in the seaweed-based feed industry. These include Growing preference for organic and natural feed additives, rising awareness about the benefits of seaweed in animal nutrition, and adoption of sustainable farming practices.
Seaweed-based feed is a rapidly growing market in the animal feed industry that focuses on the production, promotion, and distribution of feed products derived from seaweed. Seaweed-based feed is a desirable alternative for many livestock-rearing methods, particularly aquaculture. This is because it offers a nutrient-rich and sustainable replacement for traditional feed sources.
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Seaweed products are rich in essential vitamins, minerals, and bioactive substances. Hence, they can improve the growth, health, and general quality of livestock and farmed aquatic species. They are becoming perfect ingredients for animal feed due to their nutritional qualities.
The growing need for sustainable feed solutions is expected to propel the market for seaweed-based feeds. The production of seaweed needs less freshwater, land, and fertilizers than other feed sources like fishmeal and soybean meal. This makes it a more environmentally friendly option.
Seaweed farms can enhance water quality and trap carbon dioxide, which will promote sustainable aquaculture methods. Thus, shifting preference towards seaweed-based feeds due to their eco-friendly nature will foster market growth through 2033.
For aquatic species and livestock, a seaweed-based diet has various advantages. It has been discovered to strengthen digestion and increase nutrient absorption by encouraging the growth of good gut flora. This can lead to higher feed conversion rates and better animal growth overall.
Bioactive substances such as antioxidants and antibacterial agents found in seaweed-based feed can strengthen a species’ resistance to disease and lessen the need for medications. Thanks to these advantages, demand for seaweed-based feeds is expected to grow robustly through 2033.
Key Takeaways from the Report:
- The global seaweed-based feed market is expected to reach a valuation of US$ 2,385.6 million by 2033.
- Based on the source, the brown seaweed segment is estimated to hold a market share of 38.6% in 2023.
- By application, the aquaculture segment will likely hold a value share of 28.5% in 2023.
- Based on form, the powder segment is set to account for a revenue share of 43.4% in 2023.
- The United States market value is forecast to reach US$ 850.5 million by 2033.
- China is poised to expand at a CAGR of 7.6% CAGR through 2033.
- Demand in Australia is estimated to rise at a CAGR of 12.8% between 2023 and 2033,
“The seaweed-based feed market is expected to witness substantial growth in the forecast years, driven by factors such as increasing demand for organic and natural feed additives, technological advancements in seaweed cultivation, and the expansion of aquaculture & livestock industries,” – Nandini Roy Choudhury, Client Partner at Future Market Insights
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Who is Winning?
Start-ups highlight the increasing interest in seaweed-based solutions for animal feed and agriculture, reflecting the potential of seaweed to contribute to sustainable and environmentally friendly practices in the feed industry. The seaweed-based start-up culture is expected to continue growing as more companies recognize the value of seaweed as a valuable and sustainable resource.
Launching new products can help businesses stay competitive and meet the changing consumer demand. It will also allow them to attract new customers and retain existing ones while increasing their market share.
Key Companies Profiled:
- Algaia
- Symbrosia
- AquAgri Processing Pvt Ltd
- Sea6 Energy
- Cascadia Seaweed
- The Seaweed Company
- Corbion
- Ocean Harvest Technology
- Olmix Group
- Cargill
- Acadian Seaplants
- Other Players
For instance,
- In 2023, Symbrosia introduced a new seaweed-based feed additive aimed at addressing environmental challenges associated with livestock farming.
Get More Valuable Insights
Future Market Insights (FMI) has released an objective assessment of the global seaweed-based feed market, presenting past demand data from 2018 to 2022 and projecting forecast statistics for the 2023 to 2033 period.
The growth projections are based on source (red seaweed, brown seaweed, and green seaweed), application (aquaculture, livestock, and pet food), form (powder, pellets, and liquid), and region.
Seaweed-Based Feed Market Outlook by Category:
By Source:
- Red Seaweed
- Brown Seaweed
- Green Seaweed
By Application:
- Aquaculture
- Fish
- Shrimp
- Shellfish
- Others
- Livestock
- Poultry
- Pigs
- Cattle
- Others
- Pet Food
By Form:
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East & Africa\
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI’s related ongoing Coverage in the Food and Beverage Domain:
Marine Feed Market: Size is projected to witness significant growth, with its sales estimated to increase from US$ 37,311.4 million in 2023 to US$ 63,056.3 million by 2033. In the assessment period from 2023 to 2033
Animal Feed Market: Size is anticipated to cross a valuation of US$ 530.0 billion in 2023. It is estimated to reach a valuation of US$ 929.0 billion by 2033. The market is expected to witness a decent CAGR of 7.3% from 2023 to 2033.
Animal Feed Additives Market: Size is projected to be valued at US$ 16,067 million in 2023 and is expected to rise to US$ 19,877.0 million by 2033. The sales of animal feed additives are anticipated to expand at a significant CAGR of 2.0% during the forecast period.
Seaweeds Market: This is expected to be valued at US$ 7.79 billion in 2023. The seaweeds market size is projected to reach US$ 19.66 billion by 2033, registering a CAGR of 9.7% from 2023 to 2033.
Seaweed Protein Market: Size is valued at US$ 456.2 Million in 2022 and it is expected to grow at a compound annual growth rate (CAGR) of 11.3% from 2022 to 2032.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vasat team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Originally published at https://www.einpresswire.com/article/675982022/seaweed-based-feed-market-valuation-to-total-us-2-385-6-million-by-2033-amid-rising-preference-for-organic-future-market-insights-inc
