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. Seaweed snacks are made from red, brown, and green seaweed are studied in the report. The seaweed-based snack contains iodine, copper, iron, potassium, magnesium, and calcium. They are high in fiber and vitamins such as A, B and E. Seaweed snacks includes various types of snacks such as nori sheets, flakes, bars, chips, and other snacks. As consumers’ tastes have expanded in an increasingly globalized world, many consumers are experimenting with organic foods to satiate their desire for unique taste experience and to align with their increased focus on healthy lifestyles.
The growth of the seaweed snacks industry is driven by the nutritional properties of seaweed snacks along with rise in the living standards of consumers around the globe. Furthermore, hectic lifestyle and increase in the need for convenience and ready to eat food drive the growth of the seaweed snacks market and help increase the seaweed snacks market size. Furthermore, growth in adoption of organic farming practices in various developed regions is one of the top impacting factors driving the growth of the seaweed snacks market. Growth of the retail network in emerging economies, such as India, China, and Brazil, has led to increased availability of seaweed snacks, thus supplementing the seaweed snacks market growth.
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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.
Covid-19 Scenario
- The prolonged lockdown across several countries resulted in disruption in the supply chain and supply of raw materials, which affected manufacturing activities.
- As the tourism industry took the hit due to the pandemic, the demand from tourists has declined. Moreover, departmental stores, hypermarkets, and online platforms stopped the sale of seaweed snacks during the lockdown.
- However, the demand is estimated to increase slowly as some countries have eased off lockdown regulations and the tourism industry has entered the recovery phase.
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The global seaweed snacks market is segmented on the basis of type, source, distribution channel, and geography. Based on type, the market is divided into nori sheets, flakes, bars, chips, and others. The bars segment is projected to manifest the highest CAGR of 13.8% during the forecast period. However, the nori sheets segment held the lion’s share in 2019, contributing to nearly two-thirds of the market.
On the basis of source, the market is divided into red, brown, and green. The green segment is projected to showcase the highest CAGR of 13.8% during the forecast period. However, the red segment held the largest share in 2019, accounting for more than four-fifths of the market.
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