Seaweed Snacks Market - Global Industry Analysis

Industry Perspective:

The global seaweed snacks market was valued at 1602 million in 2021 and is likely to reach 2800 million by the end of 2028 during the forecast period. The market is likely to grow with a compounding rate of 10.4% during the forecast period. The market report is a comprehensive study on different market dynamics, including growth factors, restraints, opportunities, and challenges affecting the marketplace.

Seaweed Snacks Market: Overview

Seaweed snacks are small proportionate food consumed between the main meals. These snacks are typically made up of green, brown, or red seaweed. Seaweed snacks comprise several vitamins and minerals like calcium, magnesium, potassium, iron, copper, and iodine. Also, they are rich in fibers and vitamins. Seaweed snacks comprise organic ingredients and are non-GMO food products. Typically, these seaweed snacks are made from United States department of agriculture certified ingredients that are healthy and gluten-free. These food products provide good health by facilitating minerals, vitamins, and protein in the diet.

COVID-19 Impact:

The outbreak of the Covid-19 pandemic severely impacted the growth trajectory of the global market due to the worldwide lockdowns and disruptions in supply chains. However, the growing focus of people on physical health and regular diet due to the outbreak of coronavirus infections all across the globe is likely to project several growth opportunities in the global market in the forthcoming years.

Seaweed Snacks Market: Growth Drivers

High nutritional value will drive the growth of the global market.

The high nutritional value of seaweed snacks is one of the major reasons propelling the growth of the global seaweed snacks market, as customers are looking for healthy alternatives to mid-meal snacking. Seaweed snacks are naturally high in omega 3 fatty acids, fiber, folic acid, iron, potassium, iodine, antioxidants, calcium, and minerals. Additionally, they are ideal for people who prefer non-animal source snacks. These are chemical-free, allergen-free, and gluten-free snacks. Seaweed snacks include finding a wide range of plant compounds that function together to pose a strong antioxidant impact, thereby propelling the demand for seaweed snacks.

Report Scope:

Seaweed Snacks Market: Restraints

Lack of awareness among people regarding the availability of a wide range of seaweed snacks in market is likely to restrain global market growth.

Despite growing health consciousness among consumers, people are not able to get the right product like Seaweed snacks, which in turn is likely to hamper the growth of the global market.

Seaweed Snacks Market: Opportunities

Growing incidences of thyroid malfunctioning will open several new avenues in the global market.

The growing incidences of thyroid malfunctioning among people globally will further propel growth opportunities in the global market. The presence of iodine and amino acids in seaweed snacks will assist the thyroid gland in functioning properly. Additionally, it also consists of fiber content that helps lower weight and enhances gut health. Furthermore, the seaweed snacks lower cholesterol levels, blood pressure, and the risk of blood clots. The increasing awareness among people regarding the advantages offered by snacks will further strengthen the demand for the products in the global market. A growing vegan population is anticipated to scale up the demand for seaweed snack manifolds in the forthcoming years.

Seaweed Snacks Market: Challenges

Growing demand for product innovations is likely to be a challenge in the global market.

With the growing popularity of seaweed snacks among consumers, people are demanding different varieties of such a snack to satisfy their cravings. Therefore, frequent food innovation and product launches are likely to emerge as a huge challenge in the global market.

Seaweed Snacks Market: Segmentation

The global seaweed snacks market can be segmented into type, source, distribution channel, and region.

By distribution channel, the market can be segmented into online specialties stores, convenience stores, and hypermarkets. The specialty store segment accounts for the largest share in the global seaweed snacks market due to the fact that the stores offer high-quality service and detailed product specifications along with guidance to customers. Additionally, these stores further encourage the sales of the private and international level branches in their stores.

By source, the market can be segmented into green, brown, and red sources.

By type, the market can be segmented into chips, bars, flakes, nori sheets, and others.

Recent Developments

• Gimme Health Foods Inc., in March 2020, launched its new sea salt & avocado oil roasted flavor. It is inspired by consumer trends and the health benefits of these snacks.
• Nora Snacks – a subsidiary of Taokaenoi Food & Marketing PCL, in September 2018, launched a range of seaweed chips in the U.S. The company introduced seaweed snacks through Amazon and other online stores.

Seaweed Snacks Market: Regional Landscape

Asia Pacific accounts for the largest share in the global seaweed snacks market due to the high demand from consumers in the region. Furthermore, growing disposable income along with the rising living standard of people is further likely to scale up the growth of the regional market.

North America is expected to be the fastest-growing region in the global market due to the presence of prominent market leaders in the region. Additionally, the growth initiatives undertaken by leading market players like product innovations will further augment the growth of the regional market.

Seaweed Snacks Market: Competitive Landscape

Some of the significant players in the global seaweed snacks market include Singha Corporation, SEAWEED MARKET OÜ, Ocean’s Halo, SeaSnax, KPOP Foods, Kimnori U.S.A. Inc., Annie Chun’s, Inc., Frito-Lay North America, Inc., gimMe Health Foods Inc., and Taokaenoi Food & Marketing PCL.

Global seaweed snacks market is segmented as follows:

By Distribution Channel

• Hypermarkets & Supermarket
• Convenience Store
• Specialty Stores
• Online

By Source

• Red
• Brown
• Green

By Type

• Nori sheets
• Flakes
• Bars
• Chips

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa