India seaweed market is
anticipated to increase at an impressive rate in the forecast period. Seaweed
is a type of marine algae which is green, brown, or dark red in color that
grows in the sea or on land nearby to the sea. They are used as a source of
long and short-chain chemicals which has significant uses in medicinal and
industrial purposes for the production of different products. As the product is
plants or extracted from the plant, it is deemed organic, which helps in
sustainable development and safeguarding the environment.
Seaweed extracts are
considered as the best fertilizer that enhances yield and productivity in the
agricultural sector. Apart from these, it is used as animal food, manure in
soils, and soil conditioner. In the form of liquid extracts, it helps plants
like gardenias, camellias, azaleas, and rhododendrons to protect themselves
from pests & diseases and act as a growth promoter by adding iron to the
soil. In addition, favorable government policies for organic products and
ongoing research to find new applications such as biofuel are expected to
propel the demand for the Indian seaweed market in the anticipated period.
Increasing Demand from
Food Industry
Due to rising awareness in
people about organic and plant-based food, the demand for seaweed is growing
from food industries to prepare different foods such as salads, soups, and
low-calorie dietetic foods. Seaweed is a good source of vitamins, minerals, and
fiber, thus is used in food like sushi rolls, Nori, soups & stews, salads,
supplements, and smoothies in different nations like Japan, Korea, and Japan. According
to Government of India reports, the Indian government plans to invest about
86.8 million USD in seaweed production. The government aims to increase seaweed
production to 1 million tons annually by 2025. It is considered an
excellent source of iodine, an ingredient found in foods. Hence, it helps to
increase satiety, lowering postprandial glucose and lipid absorption rates in
consumers.
Growing Demand for
Medicinal Purposes
In Asian nations, fresh and
sun-dried seaweeds have been consumed for thousands of years for medicinal
purposes. Diverse varieties of seaweeds have recently been shown to contain
many novel chemicals with potential therapeutic uses. Due to the antibacterial,
antiviral, and antitumor effects, it is used to cure different problems like
HIV, Viral diseases, cancer, and others. Undaria pinnatifida enteromorpha,
monostroma, and Caulerpa are other edible seaweeds that help maintain blood pressure
and reduce prostate, colorectal, and breast cancers. Alginate, a seaweed
component, is frequently used in medicine as a binding agent, a tablet carrier,
and for wound treatment. The report stated by the United States Department of
Agriculture that 40 % of the drugs sold at pharma stores are extracted or
derived from the plant. Thus, the demand for Indian seaweed is expected to rise
in the anticipated period.
Ongoing Research & Development
and Favorable Government Policies
Algae and marine plants have
boosted the economy as the growing application due to growing investment in research
& development. They are popular softeners in organic cosmetics and
skin-care products and efficient binding agents in commercial products like
toothpaste and fruit jelly. It is an excellent source of biofuel, known as
eco-friendly or future fuel. The slurry of crushed seaweed extracts
micro-organisms that produce methane gas, replacing petroleum-based fuel. Apart
from these, growing demand for plant-based meat and government initiatives like
“creating a Special Economic Zone, Pradhan Mantri
Matsya Sampada Yojana (PMMSY), and Blue Revolution scheme, others are
expected to propel the Indian Seaweed market.
Recent Developments:
· In
October 2022, Sea6 Energy, an Indian startup,
raised a fund of more than 22 million USD that aimed to produce enough biomass
as an alternative to reduce India’s oil imports from different countries.
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Market Segmentation
India Seaweed market is segmented based
on type, method of cultivation, form, and application.
Based on type,
the market is divided into brown, red, and green. Based on method of cultivation, the market is divided into
single rope floating raft method, fixed bottom long thread method, and integrated
multi-trophic aquaculture. Based on form,
the market is divided into liquid and dry. Based on application, the market is divided human consumption and non-human
consumption.
Market Players
Aquagri Processing Pvt Ltd., Sea6 Energy,
Tata Chemicals, Coromandel International Ltd., Mars Petcare Company, HiMedia
Laboratories Pvt. Ltd, Snap Natural and Alginate Products Pvt. Ltd. are the key players operating in the
India seaweed market.
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic
Data
|
2018 – 2021
|
|
Estimated
Year
|
2023
|
|
Forecast
Period
|
2024 – 2028
|
|
Quantitative
Units
|
Revenue in USD
Million, Volume in metric ton, and CAGR for 2018-2022 and 2023-2028
|
|
Report
coverage
|
Revenue forecast, Volume
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
covered
|
Type
Method of Cultivation
Form
Application
|
|
Regional scope
|
East; West; North;
South.
|
|
Key companies
profiled
|
Aquagri
Processing Pvt Ltd., Sea6 Energy, Tata Chemicals, Coromandel International
Ltd., Mars Petcare Company, HiMedia Laboratories Pvt. Ltd, Snap Natural and
Alginate Products Pvt. Ltd
|
|
Customization
scope
|
10% free report
customization with purchase. Addition or alteration to country, regional
& segment scope.
|
|
Pricing and
purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, India Seaweed market has been segmented
into following categories, in addition to the industry trends which have also
been detailed below:
·
India
Seaweed Market, By Type:
o Brown
o Red
o Green
·
India
Seaweed Market, By Method of Cultivation:
o Single Rope Floating Raft Method
o Fixed Bottom Long Thread Method
o Integrated Multi-Trophic Aquaculture
·
India
Seaweed Market, By Form:
o Liquid
o Dry
·
India
Seaweed Market, By Application:
o Human Consumption
o Non-Human Consumption
·
India
Seaweed Market, by Region
o North
o West
o East
o South
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in India Seaweed market.
Available
Customizations:
With
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company
Information
- Detailed analysis and profiling of additional
market players (up to five).
India Seaweed market is an upcoming report to be released soon. If you
wish an early delivery of this report or want to confirm the date of release,
please contact us at [email protected]