South Korea Commercial Seaweed Market Size & Outlook
South Korea commercial seaweed market, 2018-2030 (US$M)
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South Korea commercial seaweed market highlights
- The South Korea commercial seaweed market generated a revenue of USD 567.4 million in 2022 and is expected to reach USD 669.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 2.1% 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 567.4 million |
| Market revenue in 2030 | USD 669.4 million |
| Growth rate | 2.1% (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, South Korea accounted for 5.6% 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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South Korea 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 South Korea commercial seaweed market based on brown seaweeds, red seaweeds, green seaweeds covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea has been increasingly investing in the commercial seaweed market as technologies for harvesting various types of seaweeds have been developed since 1970s. South Korea was the top exporters of Pyropia in the world in 2018.
As South Korea has high seaweed production, a rise in valueadded processing companies has been witnessed to increase the economic productivity. Convenience snacks and other foods have been created to target health-conscious consumers and exploit the nutritional properties of seaweeds.
The industry is also adopting sustainable seaweed farming with one of the companies in South Korea obtaining ASC-MSC (Aquaculture Stewardship Council-Marine Stewardship Council) certification in 2019 and more companies are expected to follow the trend.
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Target buyers of South Korea 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 South Korea commercial seaweed market , including forecasts for subscribers. This country databook contains high-level insights into South Korea commercial seaweed market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea commercial seaweed market size, by product, 2018-2030 (US$M)
South Korea Commercial Seaweed Market Outlook Share, 2022 & 2030 (US$M)
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