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Market Overview
Seaweed is edible algae that grow in the sea and are high in soluble and insoluble fibre. Seaweed snack is like processed food which is a healthier alternative for chips and crackers as these snacks are high in sodium and additives.
According to the MarkNtel Advisors’ research report, “Global Seaweed Snack Market Analysis, 2021”, the market is expected to grow at a CAGR of around 9% during 2021-26. The demand for seaweed snack has gained pace across the globe as these are low in calories and high on fibre, minerals and is a healthy substitute with a variety of health benefits, significant rise in vegan popularity and increasing customer inclination toward seaweed snack as it helps with thyroid function and improves digestive health. In addition to this, burgeoning demand for food which is gluten, and GMOs free and rising health consciousness and awareness among people are soaring the demand for seaweed snack. Moreover, seaweed is a carbon-negative food source having less impact on the market. Hence, this is further driving the growth of the market.
| Report Coverage | Details |
| Study Period | Historical Data: 2016-20 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| Regions Covered | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa | |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The COVID-19 pandemic has a profound impact on the functionality of a modern society. The lockdown imposition has restricted the operations of restaurants and food joints which has affected the demand for seaweed snacks. However, the disruption in the supply chain and decline in the discretionary spending of the people has also hampered the growth of the market substantially. Nonetheless, the market is predicted to recover gradually in the near future.
Market Segmentation
Nori Sheets Accounted for the Largest Market Share
Based on Type, the segment is categorized into Nori Sheets, Flakes, Bars, Chips, Others. Nori Sheets accounted for the largest market share in the Global Seaweed Snack market in 2019. The Nori Sheets are widely used in food like sushi to wrap or used in garnishing as these are a healthier alternative with high nutrients and low in calories. The growing popularity of seaweed nori sheet snack and increasing millennial inclination for sushi in western countries has propelled the demand for nori sheets. Besides this, the launch of a new flavored product is placing a positive influence on the growth of the global Seaweed Snack market as revealed by the MarkNtel Advisors’ research report “Global Seaweed Snack Market Analysis, 2021”.
Red Source Register Fastest Growth
Based on the Source, the market is bifurcated into red, brown, and green. The red source is predicted to grow at the fastest rate in the Global Seaweed Snack market during the forecasted period. The red source is high in protein content and can be used for making meat alternatives. The red source is used more in nori sheets which are used to wrap sushi. The astronomical surge in the consumption of sushi across the globe has proliferated segment growth. Besides this, increasing awareness among consumers regarding the health benefits of red seaweeds as it helps in lowering the risk of cardiovascular disease, type 2 diabetes, obesity and cancers is projected to further aid to the growth of the segment in the near future.
Regional Landscape
Asia-Pacific Dominated the Market
China, Japan and South Korea are the biggest market for seaweed snack in the Asia-pacific region as it is a staple food in these countries. Seaweed is popularly used as a healthier alternative to processed food such as chip as it is low in calories and high in calcium, protein, iodine, iron etc. Factors driving the growth are the strong foothold of giant market players, the introduction of new and innovative product and increasing demand for seaweed snack among consumer. South Korea acquired a considerable market share in Asia-Pacific. This is due to the introduction to the development plan for the seaweed industry. The government aims to accentuate the Korean seaweed industry as an export-driven food industry worth 1 trillion by 2024. Thereby, this is further anticipated to place a lucrative opportunity for the growth of the market in the forecast period.
Market Driver
Rising Awareness Regarding Health Benefits of Seaweed Snack
The seaweed market is projected to witness robust growth over the forecast period during 2021-26. The growing awareness among people about its health benefits as it is a rich source of antioxidants, amino acid, folic acid, calcium, omega-3 fatty acid, iodine, mineral, protein, etc. In addition to this, the adoption of a sedentary lifestyle by the people leading to obesity, high blood pressure, cholesterol, thus escalating the heart disease risk. Thus, the demand for seaweed snack is proliferating as it helps to reduce the risk of heart disease, type 1 & 2 diabetes along with helps in thyroid function, and support gut health.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global Seaweed Snack market are Taokaenoi Food & Marketing PCL, gimMe Health Foods Inc., Frito-Lay North America, Inc., Annie Chun’s, Inc., Kimnori U.S.A. Inc., KPOP Foods, SeaSnax, Ocean’s Halo, SEAWEED MARKET OÜ, Singha Corporation, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What is the historical year, base year and forecast year considered in the research report on Global Seaweed Snack Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global Seaweed Snack Market during 2021-26?
A. The Global Seaweed Snack Market is anticipated to grow at a CAGR of 9% during 2021-26.
Q. Who are the key competitors or players operating in Global Seaweed Snack Market?
A. Taokaenoi Food & Marketing PCL, gimMe Health Foods Inc., Frito-Lay North America, Inc., Annie Chun’s, Inc., Kimnori U.S.A. Inc., KPOP Foods, SeaSnax, Ocean’s Halo, SEAWEED MARKET OÜ, Singha Corporation are few of the leading players in the Global Seaweed Snack Market.
Q. Which types segment would emerge as an opportunity area for players in Global Seaweed Snack Market?
A. Nori Sheets is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Seaweed Snack Market?
A. North America continue to grow at a highest CAGR, presenting immense opportunities for market players of Global Seaweed Snack Market.
