Canada Commercial Seaweed Market Size & Outlook, 2022-2030
Canada commercial seaweed market, 2018-2030 (US$M)
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Canada commercial seaweed market highlights
- The Canada commercial seaweed market generated a revenue of USD 34.3 million in 2022 and is expected to reach USD 46.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 4% from 2023 to 2030.
- In terms of segment, red seaweeds was the largest revenue generating product in 2022.
- Red seaweeds is the most lucrative product segment registering the fastest growth during the forecast period.
Commercial seaweed market data book summary
| Market revenue in 2022 | USD 34.3 million |
| Market revenue in 2030 | USD 46.8 million |
| Growth rate | 4% (CAGR from 2022 to 2030) |
| Largest segment | Red seaweeds |
| Fastest growing segment | Red seaweeds |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Brown seaweeds, Red seaweeds, Green seaweeds |
| Key market players worldwide | Cargill, DuPont de Nemours Inc, CP Kelco, Trevena Inc, Groupe Roullier, Biostadt, Compo, Acadian Seaplants, Gelymar, BRANDT, Seasol International, West Coast Marine-Bio Processing Corp, Bejing Leili, Indigrow |
Other key industry trends
- In terms of revenue, Canada accounted for 0.3% of the global commercial seaweed market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, Canada commercial seaweed market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 16.9 million by 2030.
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Commercial Seaweed Market Scope
Commercial Seaweed Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada commercial seaweed market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to commercial seaweed market will help companies and investors design strategic landscapes.
Red seaweeds was the largest segment with a revenue share of 53.06% in 2022. Horizon Databook has segmented the Canada commercial seaweed market based on brown seaweeds, red seaweeds, green seaweeds covering the revenue growth of each sub-segment from 2018 to 2030.
Food & beverage was the second-largest manufacturing industry in Canada with sales of goods manufactured worth USD 117.8 billion in 2019. It accounted for 17% of the total manufacturing sales in 2019. Food & beverage processing has also been witnessing steady growth owing to the rising population and penetration of organized as well as e-retail retail networks across the country.
Seaweed derivatives such as alginates, carrageenan, agar, and others are extensively utilized in packaged food products such as infant food, confectionery, bakery, smoothies, and other beverages as gelling, binding, and thickening agents. Thus, growth in food & beverage industry in Canada is likely to have a positive impact on commercial seaweed market in the coming years.
Seaweed cultivation is gaining popularity in Canada since past few years owing to the extensive application of seaweeds and their derivatives in various end-use industries including food & beverage, personal care, and pharmaceuticals.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada commercial seaweed market , including forecasts for subscribers. This country databook contains high-level insights into Canada commercial seaweed market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada commercial seaweed market size, by product, 2018-2030 (US$M)
Canada Commercial Seaweed Market Outlook Share, 2022 & 2030 (US$M)
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