SEAWEED FARMING SET TO NEARLY TRIPLE BY 2034 AT 10.2% CAGR

Seaweed farming set to nearly triple by 2034 at 10.2% CAGR. The worldwide seaweed farming sector is set to more than double in size within the next decade from around $9.6 billion currently to nearly $22.8 billion as food, drugs, and cosmetic companies vie for access to what is becoming an increasingly sought-after ingredient from the ocean. What used to be a relatively niche activity centred on sushi wraps and gelling agents is fast becoming a real growth story across sectors, with new areas for cultivation, new types of products, and applications emerging each year.

As reported in the market report of Market Intelo, the market size stood at about $9.6 billion in 2025 and is estimated to increase to $22.8 billion till 2034 at a CAGR of 10.2%. Such growth rates indicate that the market would grow from about $10.6 billion in 2026 to $15.4 billion in 2030 and beyond $18.6 billion in 2032, before rising above $22 billion in the last two years of the forecast period.

In an industry, which has generally been considered as subsidiary to larger industries of agriculture and marine, such growth rates clearly put the seaweed farming industry into the focus of major food conglomerates.

Reasons for the Rapid Progress in the Market

It is easy to see why seaweed is an attractive alternative – it does not require fresh water, pesticides, fertiliser, or arable soil to grow while providing a unique combination of nutrients and bioactives. As the demand for sustainable plant-based foods becomes more widespread and as companies try to avoid artificial additives on the label, seaweeds’ proteins, hydrocolloids, and sources of omega-3 fatty acids are being included in consumer goods such as nutrition bars and dairy-free products or health supplements. In addition, there have been food safety agencies in the US and Europe approving many seaweed-based extracts as ‘generally recognised as safe’.

Food Still Ahead, But Pharmaceutical and Cosmetics Not Far Behind

The food and beverages industry remains the largest application sector, with a share of about 42.5%, growing by approximately 9.4% per annum due to the increasing popularity of clean label formulas, seaweed-based foods and snacks in Western retail markets.

The pharmaceuticals industry comes second, with a market share of about 26.8%, growing much faster than any other segment – 11.8% annually due to clinical studies that prove the anti-inflammatory properties of seaweed as well as its benefits for the immune system. The cosmetics and personal care industries occupy the third place on the list, with 18.4% share and a fast 12.5% compound annual growth rate due to the consumers’ interest in natural skincare solutions.

Brown Seaweed Takes Centre Stage, Green Seaweed Has a Lot to Offer

Among the three key categories of seaweeds included in the report, the brown seaweed, which comprises kelp and kombu, is the dominant one, accounting for 38.5% of the market due to its high levels of fucoidan and iodine, which make it the optimal raw material used by pharmaceutical and nutraceutical companies.

The red seaweed, comprising nori and dulse, is the next category in terms of popularity, with 35.2% market share, as it is supported by the well-developed culinary supply chain in Asia and increasing interests in cultivating it in Portugal, Ireland, and Norway. The green seaweed accounts for only 26.3% of the market but grows the fastest at 12.8%.

Farmed Seaweed Gradually Takes Over From Wild Harvest

The farmed harvest using monolines, floating rafts, and multi-trophic systems constitutes almost 58.3% of total global supply, while growing at an annual rate of about 11.5%, due to the benefit of reliable and consistent supply with quality standards. The wild harvest provides almost 42% of the total market and enjoys a premium price in special varieties like premium nori and dulse in the markets of Ireland, Iceland, Norway and Canadian Maritimes.

However, the volatility of supply, dependency on weather conditions and regulation on the quantity of harvest is pushing the trend towards aquaculture with the share of wild harvest declining to about 37% by 2034.

Asia Pacific Takes the Crown While Europe Leads the Premium Segment

Asia Pacific continues to be the clear leader in this regard, controlling approximately 52.3% of worldwide revenue, which amounts to almost $5 billion in the year 2025 alone, thanks to the large-scale production capacity of China as well as existing industries in Indonesia and the Philippines. China alone contributes more than 60% of the total worldwide seaweed production volume.

Following closely behind, Europe occupies around 23.7% of the market share due to the pioneering offshore cultivation technology of the Nordic region coupled with some of the most stringent standards of water and traceability across the globe that helped brands such as Mara Seaweed and Irish Seaweeds develop high-end sustainable brands. North America controls around 15.4% share and is seeing consistent growth as the trend of plant-based food and clean label supplements is gaining traction.

Cultivation at Sea is the Way Forward

A considerable proportion of future growth in the market is likely to be derived from farms set up in the open ocean, which is capable of growing algae in open sea conditions, taking cultivation away from crowded coastal waters. Pilot farms have already been established along the coasts of Massachusetts, Maine, and UK, with full-scale commercial offshore kelp farms expected to be launched from 2027/2028. Such projects offer a number of income streams simultaneously – biomass for use as food/feed, bioactive components for drug production, and even carbon credits because one hectare of farmed seaweed is said to soak up some 3 tons of CO2 annually.

Opportunities Accompanied by Risks

There are certain difficulties associated with this success story of the market. There is competition from other protein-rich plants such as microalgae and precision-fermented ingredients, whose nutrient content may be higher or the process of cultivation may be more convenient. There are also diseases, like ice-ice and red rot diseases, and changing ocean temperatures that may affect production on already existing farms.

Moreover, there are regulatory issues concerning cultivation and labelling of products that may create challenges for small producers trying to enter the market. Finally, consolidation of the market is starting to happen as bigger companies like Cargill, CP Kelco and Acadian Seaplants increase their presence through acquisitions and full supply chains.

A Market Engineered for the Next Decade

Despite all of these factors, there is still a strong basis to invest in the future of seaweed farming. The demand from the food industry, the pharmaceutical industry, and cosmetics manufacturing companies remains high and does not seem to slow down. In addition, the regulatory environment is becoming increasingly positive, while the technologies used in large-scale seaweed farming continue to evolve. With the market being forecasted to triple in size by 2034, the future of seaweed farming lies ahead.

Reference: https://marketintelo.com/report/seaweed-farming-market

Image: Market Intelo