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The seaweed snacks market size is projected to increase by USD 1,413.43 million, at a CAGR of 11.27% between between 2023 and 2028
The Asia-Pacific (APAC) region significantly influences the market, driven by its distinctive cultural choices, rising health awareness, and deep-rooted seaweed consumption traditions. The region's demand for seaweed snacks is shaped by its culinary heritage, particularly in countries like Japan, South Korea, and China, where seaweed has been a culinary staple for centuries. Japan, known for its extensive seaweed use, has a historical preference for nori in snacks. Abakus Foods contributes to this trend with offerings like Seaweed Crisps coated with tapioca, available in flavors such as cheese, salt and vinegar, and sea salt, aligning with prevailing consumer preferences and global market trends.
The market shows an accelerated CAGR during the forecast period.
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Rising demand for healthy food among the global population is notably driving market growth. The increasing use of fertilizers and pesticides has, in turn, led to many plants becoming resistant to these fertilizers and pesticides. Therefore, to increase the effect of these chemicals and fertilizers on plants and increase the yield, many farmers are using pesticides and fertilizers with stronger chemical compositions. These strong fertilizers and pesticides are deposited on the outer layer of fruits and vegetables and cannot be completely rid of by rinsing in water. Thus, the residue of pesticides and fertilizers, which are harmful to the human body, are ingested along with fruits, vegetables, and/or meat.
In addition, the growth in the number of young people globally is one of the key drivers for the market, as young people, who are increasingly becoming health-conscious, are demanding healthy substitutes in their routine diet and snacking. This, in turn, is expected to increase the demand for seaweed snacks among people worldwide and drive the growth of the market during the forecast period.
Rising health awareness among consumers is an emerging trend shaping the market growth. Seaweed snacks are becoming increasingly popular as people become more conscious of their eating habits and start to understand the nutritional value of seaweed. Seaweed is low in calories but rich in iodine, iron, and essential fatty acids like omega-3s. Bioactive compounds found in seaweed can help improve heart health and boost your immune system. Seaweed snacks are becoming increasingly popular as consumers become more conscious of their health.
In addition, seaweed snacks have also become increasingly popular due to the growing trend of eating more plant-based foods and making sustainable food choices. Seaweed is also a renewable resource and requires very little effort to grow, making it much more eco-friendly than traditional snack options. These factors will drive the growth of the market during the forecast period.
The high cost of production is a significant challenge hindering the market growth. Seaweed snack production is a complex process that includes cultivation, harvesting, processing, and packaging. Specialized technology, labor, and environmental conditions all contribute to higher production costs. The cultivation of seaweed itself requires careful management of the coastal ecosystem, including monitoring of water quality and sustainable farming methods. This, in addition to the need for accurate drying and processing methods, significantly increases the overall cost of producing seaweed snacks.
However, small and medium-sized enterprises (SMEs) may not be able to keep up with the big players in the market due to their lack of resources and economies of scale. As a result, the prices of seaweed snacks may be higher than those of traditional snacks, which may discourage mass adoption. These factors are expected to impede the growth of the market during the forecast period.
The offline distribution segment includes supermarkets, hypermarkets, discount stores, convenience stores, and individual retailers. Hypermarkets and supermarkets offer multiple seaweed snacks from various brands. The high popularity of this distribution channel can be attributed to rapid urbanization and changing consumer lifestyles. Moreover, in-house promotions by retailers and easy ways to compare prices attract consumers to shop in hypermarkets and supermarkets. Moreover, the ample shelf space allows the display of a large variety of products from various vendors, which gives consumers a wide array of products to choose from. Such expansions will enhance customer accessibility and increase the sales of seaweed snacks, which will drive the growth of the market during the forecast period.
The market share growth by the red segment will be significant during the forecast period. Red seaweed is one of the most popular seaweed snacks globally due to its unique taste, nutritional value, and adaptability. One of the biggest reasons for red seaweed's growth is its taste. Red seaweed has a mild, slightly sweet taste that sets it apart from other types of seaweed. This unique flavor appeals to consumers who are looking for unique and exotic snacks.
The red segment was the largest and was valued at USD 562.68 million in 2018
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Further, red seaweed is rich in iodine, which is important for thyroid health. It also contains various vitamins A, B, and C. A few market examples illustrate the growing impact of red seaweed on the seaweed snacks industry. Brands such as Ocean's Halo, Seasnax, and others have added red seaweed to their product lines, providing crunchy and flavorful snacks that meet the needs of consumers looking for a healthier and more exotic option. Red seaweed is packed with protein and fiber, making it a great choice for people who are looking for a plant-based snack that's high in nutrients. Red seaweed is also more sustainable than other seaweed varieties due to its rapid growth rate and its ability to survive in a variety of marine environments. This is one of the reasons why red seaweed is so popular among eco-conscious consumers. These factors under the red seaweed segment will fuel the growth of the market during the forecast period.
APAC is estimated to contribute 38% to the growth of the global market during the forecast period
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional market trends and analysis, and drivers influencing the market's trajectory throughout the forecast period. The Asia-Pacific (APAC) region plays a pivotal role in the market, with its unique combination of cultural preferences, increasing health consciousness, and a rich history of seaweed consumption. One of the main reasons for the increasing demand for seaweed snacks in APAC can be attributed to the region's rich culinary history of using seaweed in a variety of dishes. Populations in countries such as Japan and South Korea, as well as in China, have a long-standing tradition of consuming seaweed. In Japan, for instance, the consumption of seaweed has been a part of Japanese cuisine for hundreds of years. Thus, the inclusion of nori ( edible seaweed) in snacks is in line with consumer preferences.
In addition, there is a growing awareness about the health benefits of seaweed. Seaweed is packed with important vitamins, minerals, and antioxidants. Seaweed snacks are in high demand in APAC due to the health concerns that the region is facing, including obesity and cardiovascular disease. Seaweed snacks are a convenient and guilt-free way to enjoy healthy snacks. These factors will fuel the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including Abakus Foods, Annie Chuns Inc., Barnacle Foods, CJ CheilJedang Corp., Delice Global Inc., Eden Foods Inc., gimMe Health Foods Inc., Honest to Goodness, Jayone Foods Inc., Kimnori USA Inc., Oceans Halo, Seaman Seaweed Chips, Seamore, SeaSnax, SEAWEED MARKET OU, Taokaenoi Food and Marketing PCL, Thai Korean Seaweed Co. Ltd., and WRAWP FOODS
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Seaweed Snacks Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.27% |
Market Growth 2024-2028 |
USD 1,413.43 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.8 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, Indonesia, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abakus Foods, Annie Chuns Inc., Barnacle Foods, CJ CheilJedang Corp., Delice Global Inc., Eden Foods Inc., gimMe Health Foods Inc., Honest to Goodness, Jayone Foods Inc., Kimnori USA Inc., Oceans Halo, Seaman Seaweed Chips, Seamore, SeaSnax, SEAWEED MARKET OU, Taokaenoi Food and Marketing PCL, Thai Korean Seaweed Co. Ltd., and WRAWP FOODS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Source
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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