The new report by Expert Market Research titled, ‘Global Seaweed Snacks Market Size, Share, Trend, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global seaweed snacks market, assessing the market based on its segments, source, distribution channel and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 1466 million
- Forecast CAGR (2023-2028): 4%
- Forecast Market Size (2028): USD 2655 million
Chips accounted for a major proportion of the market by type, and it is expected to rise significantly in the forecast years as well. This is due to the product’s high nutritional and fibre content, as well as its excellent taste and crispy texture. Iodine, copper, iron, potassium, magnesium, and calcium are all found in seaweed chips. The introduction of new and creative flavours is expected to boost product sales throughout the projection period. The increased popularity of seaweed chips among the youth would further help the market.
Meanwhile, due to their high protein and low-fat content, seaweed bars are expected to hold a significant proportion of the market over the projection period. The increased popularity of the product can also be related to the middle-class population’s busy and chaotic lifestyles, which are increasingly preferring easy food products and need sufficient energy to carry out day-to-day duties efficiently.
According to the source, brown seaweeds are becoming more popular for snacking and are expected to take a considerable share of the market. This can be linked to consumers’ increased awareness of brown seaweed’s health advantages as well as their growing interest in their health and wellness. Brown seaweeds are among the largest marine plants and are noted for having a high iodine concentration, which helps the section grow.
Industry Definition and Major Segments
Seaweed snacks are snacks made from a type of marine vegetable that can be consumed or used in cooking. Red, green, or brown marine algae that thrive along seashores can be used to make seaweed.
Based on type, the market is divided into:
- Nori Sheets
Based on source, the industry is segmented into:
The different distribution channels of the product include:
- Hypermarkets and Supermarket
- Convenience Store
The regional markets for the product include:
- North America
- the Asia Pacific
- Latin America
- the Middle East and Africa
The thriving food sector, particularly in rising economies around the world, drives the global seaweed snacks market. Sushi, seaweed salad, seaweed chips, seaweed bars, roasted seaweed, and organic seaweed snacks, among other things, are all expanding in popularity, adding greatly to market growth. The seaweed snacks are nutrient-dense in addition to having a great taste and texture.
This element is anticipated to boost product sales, as there has been a considerable growth in demand for healthy and clean-label seafood in recent years. Furthermore, due to the expansion of supermarkets and hypermarkets in many nations, the market is likely to be supported by the product’s simple availability. Furthermore, the rise of e-commerce will bolster market growth during the projection period.
Key Market Players
The major players in the market are SeaSnax, Ocean’s Halo, Taokaenoi Food & Marketing PCL, Eden Foods, Inc and Annie Chun’s, Inc. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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