India Seaweed Market to be Dominated by Dry Form Seaweed Segment Through 2028
Rising demand from farmer
for production of more crops and favorable government policies are the factor
that drive the demand for the India Seaweed market in the forecast period,
2023-2028.
According to TechSci Research report, “India Seaweed Market -
By Region, Competition Forecast and Opportunities, 2018-2028", The Indian seaweed market
is anticipated to increase at an impressive rate in the forecast period, 2024-2028.
Seaweed is marine algae
that are green, brown, or dark red in color that grows in seashores and holds
ample minerals and nutrients. Due to its antibacterial, antiviral, and
antitumor effects, it is used in different applications and gaining demand from
end users for medicinal, agricultural, food, cosmetics, fuel, and other
purposes. Growing people's awareness to protect the environment and lower
carbon emissions awareness is going to propel the market.
The volatile cost of product &
chemical penetration in sea plants is expected to obstruct the seaweed market
growth. Water pollution is rising rapidly due to the dumping or leakage of
various chemicals in the water bodies, which enter the bodies of living marine
organisms. Thus, it is different to sell and cultivates algae in such an
adverse situation and switch to an artificial marine ecosystem or an alternate
process to produce the algae. This led to a rise in the production cost of
seaweed and hindered market growth.
Browse over XX market data Figures spread through XX
Pages and an in-depth TOC on "India Seaweed Market."
India Seaweed market is
segmented based on type, method of cultivation, form,
application, region, and company.
Based on the method of cultivation, the
market is divided into single rope floating raft method, fixed bottom long
thread method, and integrated multi-trophic aquaculture. The integrated
multi-trophic aquaculture segment is expected to hold the largest market share
in the projected year. Integrated multi-trophic aquaculture is the same as
polyculture, where two or more species are cultivated synchronically. In this
method of cultivation, various marine organisms produce from diverse trophic
levels to increase productivity, decrease waste, and support ecosystem services
like bioremediation. Thus, as mentioned above, the advantage propels framer to
grow seaweed through integrated multi-trophic aquaculture and make it a
dominating segment.
Based on form, the market is divided
into liquid and dry. The dry segment is expected to hold the largest market
share in the projected year. Various essential antioxidants are present in dry
seaweed in the form of vitamins like A, C, & E, B12, and protective
pigments. It contains a decent amount of iodine, an essential mineral necessary
for thyroid wellness and operation.
Based on application, the market is
divided human consumption and non-human consumption. The human consumption
segment is expected to hold the largest market share in the projected year. Due
to growing plant-based food demand and the availability of beneficial vitamins,
it is gaining popularity in western countries like the US, France, among others.
Apart from these, the growing demand for seaweed for medicinal purposes is
expected to propel the human consumption market in the segment.
Major companies operating in India seaweed
market are:
- 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.
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"The South region is expected to
dominate India's Seaweed Market in the projected period due to an extensive
coastline and available R&D facilities. A growing startup like Sea6 Energy
that works in the production of seaweed to generate biomass for sustainable
development will propel the market growth. Government initiatives include
Special Economic Zone, Pradhan Mantri Matsya Sampada Yojana (PMMSY), the Blue
Revolution scheme, and ongoing R&D such as biofuel, medicine, and others
for new applications are going to propel the Seaweed demand. All the above
factors are projected to impact India's seaweed market growth until 2028."
said Mr. Karan Chechi, Research Director with TechSci research, a research
based global management consulting firm.
“India Seaweed Market, Type (Brown, Red, Green), By
Method of Cultivation (Single Rope Floating Raft Method, Fixed Bottom Long
Thread Method, Integrated Multi-Trophic Aquaculture), By Form (Liquid, Dry), By
Application (Human Consumption v/s Non-Human Consumption), By Region,
Competition, Forecast and Opportunities, 2028 has evaluated the future growth potential
of India seaweed Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India seaweed
market.
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