Philippines Commercial Seaweed Market Size & Outlook
Philippines commercial seaweed market, 2018-2030 (US$M)
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Philippines commercial seaweed market highlights
- The Philippines commercial seaweed market generated a revenue of USD 440.6 million in 2022 and is expected to reach USD 529.4 million by 2030.
- The Philippines market is expected to grow at a CAGR of 2.3% from 2023 to 2030.
- In terms of segment, brown 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 440.6 million |
| Market revenue in 2030 | USD 529.4 million |
| Growth rate | 2.3% (CAGR from 2022 to 2030) |
| Largest segment | Brown 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, Philippines accounted for 4.4% 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 Asia Pacific, China commercial seaweed market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 6,492.8 million by 2030.
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Commercial Seaweed Market Scope
Commercial Seaweed Market Companies
| Name | Profile | # Employees | HQ | Website |
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Philippines 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.
Brown seaweeds was the largest segment with a revenue share of 51.11% in 2022. Horizon Databook has segmented the Philippines commercial seaweed market based on brown seaweeds, red seaweeds, green seaweeds covering the revenue growth of each sub-segment from 2018 to 2030.
The Philippines is one of the largest producers of seaweeds in the world. Eucheuma spp. is the most significant commercial species among the total 800 species of seaweeds available in the country. Gigartina and Chondrus crispus, which grow in the natural habitat in the Philippines, are used as raw materials for carrageenan extraction.
Most of the seaweed produced in the country is exported; however, it is domestically consumed on a large scale for the production of seaweed extracts. This is evident from the decline of dried seaweed exports as an increasing quantity of raw materials is being used for the extraction of carrageenan in the Philippines.
The imports of dried seaweed have increased significantly for the use of raw materials in the seaweed processing industry in the Philippines. Semi-processed and processed carrageenan extracts are exported to around 80 countries with the U.S. being at the top.
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Target buyers of Philippines commercial seaweed market databook
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Our clientele includes a mix of commercial seaweed market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Philippines commercial seaweed market , including forecasts for subscribers. This country databook contains high-level insights into Philippines commercial seaweed market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Philippines commercial seaweed market size, by product, 2018-2030 (US$M)
Philippines Commercial Seaweed Market Outlook Share, 2022 & 2030 (US$M)
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