According to this latest publication from Meticulous Research®, in terms of value, the Europe Seaweed Market is projected to reach $5.65 billion by 2030, at a CAGR of 16.6% from 2023–2030. Moreover, in terms of volume, the Europe seaweed market is projected to reach 1,815.25 KT by 2030, at a CAGR of 17.7% during the forecast period 2023 to 2030.
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Market Segmentation
The report segments the Europe seaweed market by type, form, application, and geography:
- By Type:
- Red Seaweed
- Brown Seaweed
- Green Seaweed
- By Form:
- Dry Form (Powder, Flakes, and Other Forms)
- Liquid Form
- By Application:
- Food and Beverage
- Hydrocolloids Extraction
- Animal Feed
- Agriculture
- Other Applications
- By Geography:
- U.K.
- France
- Germany
- Italy
- Norway
- Spain
- Ireland
- Netherlands
- Denmark
- Sweden
- Rest of Europe
Key Findings
Type Segment: In 2023, the red seaweed segment is expected to dominate the market, primarily due to its extensive application in the food industry. The unique taste, nutritional benefits, and convenience of red seaweed, along with rising health consciousness, contribute to its popularity. Additionally, the increasing use of red seaweed for extracting hydrocolloids such as agar and carrageenan is expected to drive demand.
Form Segment: The dry form segment is poised to register the highest CAGR during the forecast period. This growth is driven by the rising demand for seaweed powder in the food and cosmetics industries. The longer shelf-life, ease of transportation, and storage benefits of dry seaweed further support this segment's growth.
Competitive Analysis
The report also provides an analysis of industry competitors and evaluates the market at both regional and country levels, offering insights into the competitive landscape and key market players.
Conclusion
The Europe seaweed market is set for significant growth, driven by increasing consumer preference for plant-based products and the nutritional advantages of seaweed. Despite potential challenges from natural calamities, the market's future looks promising with diverse applications across various industries.
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