Kelp is a type of seaweed or algae that grow in shallow, nutrient-rich saltwater, and near coastal fronts. Kelp is found mainly in kelp forests and can grow up to half a meter a day, ultimately reaching heights of 30 to 80 meters. Kelp forests are described as one of the most ecologically productive and biologically diverse habitats globally. Kelp is also known as super food for its high nutrient content. Kelp is used on a large scale for human consumption due to their high nutritive value and usage of kelp in Chinese, Japanese, and Korean cuisines. The market for kelp is driven by increasing consumer focus on healthier lifestyle.
Kelp is a versatile product widely used as food for direct human consumption. It is also used as an ingredient for the global food and healthcare industries due to its anti-microbial and anti-inflammatory properties which provide health benefits to the people. Kelp is a rich source of iodine, potassium, magnesium, calcium, and iron as well as vitamins, amino acids, omega-3 fats, and fibers than other herbal or a natural supplement like kale which is expected to increase the market for kelp.
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Market Segmentation
Kelp market is segmented by its product type, by form, and by applications. By product type kelp market is segmented into fresh kelp and dried kelp. Dried kelp mostly consumed in Japanese dishes as it gives a binary flavor and crispy texture. Dried kelp contain variety of nutrients like vitamins and minerals. By form, kelp market is segmented in liquid, powdered, and flakes. Kelp powder is taken in breakfast time along with almonds, oats, cranberries, and milk. Kelp powder is also used in soups, stews or savory dishes as it is used as a thickening agent. Kelp flakes used for dressing the salads. By application, the market is segmented in the food, pharmaceutical, and cosmetic industry. In the food industry, it is further segmented as raw, cooked, and powder. Kelp powder adds the powerful nutrient boost to smoothies, it is used in salad dressing and sprinkled on top of vegetables. In the pharmaceutical industry, kelp is used in tablets as supplements. In cosmetic industry, kelp seaweed extract is useful for enriching skin and for promoting hair growth.
Regional Outlook
Kelp market is segmented by regions into North America, Europe, Asia-Pacific, Latin America, and the Middle East and African region. With the increasing global awareness about the medicinal applications of kelp and increasing demand in the food industry is expected to drive kelp market. Asia-Pacific, Europe, and North America have a dominant share in kelp market. The growing application in a cosmetic and pharmaceutical industry have led to a growth of kelp market in these regions.
Market drivers:
Kelp provides a multitude of health benefits, as it is the rich source of vitamins, minerals, fiber which are anticipated to contribute to the growth of global kelp market over the coming years. Associated health benefits include improving metabolic function, boosts energy levels in the body, prevents hair loss, and bone development.
Kelp market is mainly driven by increasing application and usage in the food industry. Kelp is high in demand in Chinese and Japanese cuisine. The increasing travels of the consumers for business have led to rising in demand for kelp in world cuisines and hence growing application in the food industry is expected to fuel the market growth of kelp.
Increasing application of kelp in cosmetic and pharmaceutical industry is a new trend in kelp market. The harmful effects of excessive consumption of kelp is one of the restraining factors for health conscious consumers.
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Key players
- Atlantic Holdfast Seaweed Company
- Acadian SeaPlants Limited
- Main Coast Sea Vegetables Inc
- North America Kelp
- Smart Organic AD
- Seasol International Pty. Ltd
- Cargill, Inc.
- E.I. Du Pont de Nemours and Company