Increasing Demand For Healthy Snacks And Better-For-You Foods Has Been Boosting The Seaweed Snacks Market Growth

The global seaweed snacks market size is expected to reach USD 3.36 billion by 2027 registering a CAGR of 10.8%, according to a new report by Grand View Research, Inc. The increasing demand for healthy snacks and better-for-you foods has been boosting the market growth. Seaweed is a rich source of vitamins, minerals, antioxidants, fiber, protein, iodine, amino acid, folic acid, calcium, omega-3 fatty acid, and potassium. These nutritional contents of seaweed products offer several health benefits, such as improved function of thyroid gland, enhanced gut health, and decreased cholesterol level. Furthermore, these products are naturally free from gluten, GMOs, and allergens, which also drives their demand. The strips & chips product segment dominated the market accounting for more than 50% share of the global revenue in 2019.

Nori strips and dried or roasted seaweed strips are the most common products in the market. These low-calorie and nutritious strips have become a healthy alternative to the high-calorie chips. Furthermore, the launch of various flavors, such as Korean BBQ, wasabi, sweet onion, teriyaki, and chili lime, is expected to expand the consumer base of the market in the upcoming years. Asia Pacific held the largest market share of over 50% in 2019 and will retain its dominant position throughout the forecast period as seaweed is one of the staple foods of Asian countries including China, South Korea, and Japan. However, North America is expected to register the fastest CAGR over the forecast period due to high product demand as a result of rising health concerns.

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Seaweed Snacks Market Report Highlights

• North America is expected to register the fastest growth with a CAGR of 11.3% from 2020 to 2027 owing to the rising health concerns
• The strips & chips product segment led the global market in 2019 and held over 50% of the global revenue share
• Asia Pacific is estimated to be the largest regional market by 2027 due to the wide availability of raw materials
• The online distribution channel segment is expected to register the fastest CAGR from 2020 to 2027 due to the increasing adoption of e-commerce across the globe

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About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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