Market Insights
Hatch Blue Consulting was commissioned by the World Bank Group to analyze high-growth markets for seaweed beyond traditional uses like human consumption, aquaculture feed, and hydrocolloids. This project aimed to identify industry sectors with strong potential for seaweed biomass, supporting the development of innovative market applications and promoting climate resilience in the blue economy.
The research methodology involved a comprehensive industry review to pinpoint relevant sectors with the highest growth opportunities for seaweed. A prioritization exercise narrowed the focus to ten key markets, each selected for their potential to drive sustainable economic value:
- Biostimulants
- Animal Feed Additives
- Pet Food
- Methane-Reducing Feed Additives
- Nutraceuticals
- Alternative Proteins
- Pharmaceuticals
- Construction Materials
- Fabrics and Bioplastics
- Ecosystem Services Credits (Bioremediation, Biodiversity Enhancement, Blue Carbon)
The report provides in-depth analysis on each market's potential for integrating seaweed biomass, outlining trends, growth drivers, and barriers to market entry. Special attention was given to sectors that align with sustainability goals and support blue-economy activities. The findings indicate that seaweed can be a key player in markets requiring environmentally-friendly solutions and climate-smart products.
The insights gained from this study aid the World Bank Group and other stakeholders in shaping policies, allocating investments, and designing programs that support emerging markets for seaweed. This, in turn, will foster economic diversification, environmental sustainability, and strengthen the global position of the seaweed industry in the fight against climate change.
Download the report here:
https://www.worldbank.org/en/topic/environment/publication/global-seaweed-new-and-emerging-markets-report-2023
