Seaweed Snacks Market by Type, Source, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2027,” the seaweed snacks market was valued at $1.32 billion in 2019, and is expected to garner $2.90 billion by 2027, registering a CAGR of 9.60% from 2021 to 2027.
Increase in the vegan population, surge in health-consciousness among customers, and attractive nutritional profile drive the growth of the global seaweed snacks market. However, fluctuations in prices of raw materials and high production costs hamper the market growth. On the contrary, untapped potential in the developing countries and devilment of the retail structure would open new lucrative opportunities for the market players in the future.
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Covid-19 Scenario
The outbreak of COVID-19 has severely impacted the global economies, and has caused severe disruption in supply chain. Seaweed is used in production of snacks and as the processing and manufacturing of agricultural products has been hit, it could affect the production of seaweed snacks. Similarly, lockdown has disrupted the supply of end product to retail store, thus negatively impacting seaweed snacks market trends.
The global seaweed snacks market is segmented on the basis of type, source, distribution channel, and geography. Based on type, the nori sheets segment dominated the organic snacks market in 2019 and is expected to retain its dominance throughout the seaweed snacks market analysis period due to the emergence of innovative sushi dishes, such as Nigiri sushi, will be one of the key emerging trends in the global sushi restaurants market. Increasing popularity of Japanese cuisine are significant factors that will result in the CAGR of over 10.0% in the forecast period.
Based on source, the red segment dominated the seaweed snacks market share in 2019 and is expected to retain its dominance throughout the forecast period due to the fact red seaweed are probably used in making of nori sheets, thus high popularity of sushi among consumer will directly contribute towards higher sales of red seaweed market.
The global seaweed snacks market is analyzed across various regions such as North America, Asia-Pacific, LAMEA, and Europe. The market across North America dominated in 2019, contributing to around two-fifths of the market. Moreover, the region is anticipated to portray the highest CAGR of 12.4% during the forecast period.
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The global seaweed snacks market report includes an in-depth analysis of the major market players such as Oceans Halo, Eden foods, Frito Lays Nori Seaweed Chips, Taokaenoi Food & Marketing, SeaSnax, Roland’s foods, Annie Chuns, Seaweed Pringles, Singha Corporation, and European Snack Foods.
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