Our work is on the right path. Various stakeholders and industries, from seaweed farmers to governments, and business investors to green finance entities, will find exciting opportunities in seaweed cultivation. This work at project RaNTrans is confirming much of the outlook that are echoed globally at conferences such as Seagriculture (https://seagriculture.eu/; https://seagriculture-usa.com/ ; https://seagriculture-asiapacific.com/).
According to global industry experts;
“The North America commercial seaweed market is expected to gain market growth in the forecast period of 2022 to 2029 and is expected to reach almost USD 5 billion by 2029. The demand for commercial seaweed is high hence revenue generation is also high which may help the market to grow in the region.”
“The Asia-Pacific commercial seaweed market is expected to gain market growth in the forecast period of 2022 to 2029 and is expected to reach nearly USD 16 billion by 2029. The market is gaining significant growth due to increasing demand for seaweed in various industries such as pharmaceuticals, personal care, agriculture, domestic, animal feed, food & beverages.”
“Europe is an attractive market for seaweed from developing countries. The demand for edible seaweeds (or marine algae) is increasing in Europe. Its biochemical composition and properties make seaweed a valuable material, and its range of applications is growing as current R&D technologies are refined and new discoveries are made.”
Stay tuned for RaNTrans detailed reports in June 2023.