Publication: Global Seaweed: New and Emerging Markets Report, 2023
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Date
2023-08-14
ISSN
Published
2023-08-14
Author(s)
World Bank
Abstract
With its ability to sink carbon,
sustain marine biodiversity, employ women, and unlock value
chains, seaweed farming demonstrates how development,
climate, and nature work together to generate value and
uplift communities. Seaweed farming can help build a world
free of poverty on a livable planet and has enormous growth
potential. This report has identified ten global seaweed
markets with the potential to grow by an additional USD 11.8
billion by 2030. Yet, much of the seaweed sector’s value
remains untapped - it has clear growth potential beyond its
current markets. Today, most farmed seaweed is used for
direct human consumption, as fresh feed in aquaculture, or
as hydrocolloids. However, seaweed-farmed products may be
able to displace fossil fuels in sectors such as fabrics and
plastics; can provide ecosystem services, such as carbon
sequestration and nitrogen cycling; and can generate
socioeconomic benefits in fragile coastal communities.
Further, the market is currently dominated by a handful of
Asian countries, which produce 98 percent of farmed seaweed
by volume globally. Opportunities for growth in new regions
and applications are high.
Link to Data Set
Citation
“World Bank. 2023. Global Seaweed: New and Emerging Markets Report, 2023. © Washington, DC: World Bank. http://hdl.handle.net/10986/40187 License: CC BY-NC 3.0 IGO.”