The global market for Seaweed Snacks Market is predicted to rise from USD 1.64 billion in 2020 to USD 3.8 billion by 2028 and register a CAGR of 11.3% during the projected period.
Seaweed snacks consist of organic ingredients and are rich in high fiber, vitamin A, B, E, and K, potassium, calcium, magnesium, and iron. These snacks are devoid of GMO ingredients which are gluten-free. The rising consumer preferences for readymade snacks along and the high purchasing capacity of people are the essential factors increasing the market growth of the seaweed snacks market. The seaweed snacks contain high nutritional properties that is expected to boost the market demand.
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The increasing vegan consumers in various countries and the surging awareness regarding healthy diet and nutritional food are fueling the growth of the seaweed snacks market. Various market players are innovating new techniques such as collaboration, mergers, and product launches to strengthen their position in the market. The augmenting demand for new products with different ingredients is predicted to expand seaweed snacks in the future.
The COVID pandemic has affected the global seaweed snacks market. Several areas around the globe were under lockdown during the initial days of the pandemic. Due to this, there has been a disruption in the supply chain.
Factors such as high production costs and uncertainty of raw materials might hamper the market expansion of seaweed snacks.
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Further key findings:
- Based on the source, the red seaweed segment is held the highest market share in 2020 and is predicted to retain its position during the analysis period from 2021 to 2028. The extensive use of red seaweed for making nori sheets will increase the demand for the red seaweed industry and thereby expand the market for seaweed snacks market. The growing awareness regarding health benefits and growing requirement for snacks obtained from red seaweed is estimated to drive the market.
- Based on the distribution channel, the online distribution channel is predicted to observe significant growth as many consumers find it easy to shop online from their homes instead of shopping in physical stores. Also, the products are available at discounted rates on various online portals including Tesco PLC, Sainsbury's, and Amazon.
- The offline distribution channel led the market with the highest revenue share as multiple stores are offering a variety of snacks and products that attracts a significant bunch of people to visit such stores and purchase the products.
- Based on the product type, the strips and chips industry led the market with the highest revenue generation in the global seaweed snacks market. The commonly available nori strips are popular among people as they are low in calories and better substitutes for the high-calorie chips.
- The bar snack products are evaluated to witness the highest CAGR during the estimated period. These snack bars are available in sweet and savory flavors.
- North America is accounted to witness a considerable CAGR during the projected period due to increasing awareness regarding health and obesity. The sudden inclination towards healthy diet consumption is accelerating the demand for seaweed products in the North American region.
- Europe is predicted to observe a CAGR of 14.7% during the projection period due to the rising demand for seaweed food products.
- Key players in the seaweed snacks market include Eden foods, Annie Chun's, gimMe Health Foods Inc., Taokaenoi Food & Marketing, SeaSnax, Roland's foods, and Oceans Halo.
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For this study, Reports and Data has segmented the global seaweed snacks market based on Source, Product Type, Distribution Channel, and Region:
Source Outlook (Revenue, USD Million, 2021 - 2028)
Product Outlook (Revenue, USD Million, 2021 - 2028)
- Strips & Chips
Distribution Channel Outlook (Revenue, USD Million, 2021 - 2028)
- Convenience Stores
Regional Outlook (Revenue, USD Million, 2021 - 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
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Key highlights of the Global Seaweed Snacks Market Report:
* Detailed market scope, structure, and dynamics, and estimated growth.
* Assessment of prevalent strategies in the market.
* In-depth analysis of recent events and technological advancements.
* Detailed market segmentation analysis.
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