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wakame products market is growing due to growing consumer knowledge of its nutritional benefits, particularly its high iodine and fucoxanthin content, Fact.MR
ROCKVILLE, MD, UNITED STATES, January 24, 2025 /EINPresswire.com/ -- According to Fact.MR, a market research and competitive intelligence provider, the global Wakame Products Market is estimated to reach a valuation of US$ 117.2 million in 2024 and is expected to grow at a CAGR of 4.0% during the forecast period of (2024 to 2034).
Products containing wakame seaweed (Undaria pinnatifida) as a major or main ingredient are known as wakame products. These can be food items, dietary supplements, and cosmetics that use wakame for flavour, nutritional value or other purposes.
An important factor propelling the wakame products market is the growing demand for natural and healthful dietary components worldwide. Wakame is high in vital minerals, vitamins, and antioxidants, it appeals to people who are concerned about their health. The demand for wakame-based goods has increased as a result of rising knowledge of the possible health advantages of seaweed consumption, including better digestion and weight management.
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Key Takeaways from Wakame Products Market Study:
The global wakame products market is projected to grow at 4.0% CAGR and reach US$ 173.5 million by 2034.The market created an opportunity of US$ 56.3 million growing at a CAGR of 4.0% between 2024 to 2024
North America is a prominent region that is estimated to hold a market share of 24.3% in 2034.Predominating market players include Riken Food Co., Ltd., and Great Eastern Sun
Wakame-based snacks under product type are estimated to grow at a CAGR of 4.7% creating an absolute $ opportunity of US$ 4.1 million between 2024 and 2034. North America and East Asia are expected to create an absolute $ opportunity of US$ 27.9 million collectively
“The demand for wakame seaweed is rising in foreign markets due to the growing appeal of Asian cuisine, particularly Japanese and Korean recipes that include it. This is opening up new avenues for production and marketing of wakame based products” says Fact.MR analyst.
Leading Players Driving Innovation in the Wakame Products Market:
The Key Players in the Infant Wakame Products Industry include Riken Food Co., Ltd.; Welpac Food Company; Eden Foods; Clearspring Ltd.; Great Eastern Sun; Maine Coast Sea Vegetables; Seasnax; Vedant Food Solutions; Mermaid Cosmetics; kindness-beauty; Other Prominent Players.
Country-wise Insights:
Why is wakame product uptake so high in China?
The Chinese market is expected to reach US$12.8 million in 2024 and grow at a compound annual growth rate (CAGR) of 4.0% until 2034. From 2024 to 2034, this market is expected to have an absolute potential worth US$6.2 million.
Chinese coastal communities have historically relied on seaweed as a nutrient-dense and staple meal. Wakame, also known as "qundai cai" in Chinese, has been harvested and eaten for millennia. It is particularly well-liked in regions along the Yellow Sea and East China. Wakame seaweed is becoming more and more common in Chinese food products, largely because of its deep cultural and historical significance in Chinese society. Given its centuries-long incorporation into Chinese cuisine, the widespread use of seaweed, especially wakame, in modern products makes sense.
Why is the US a profitable market for producers of Wakame products?
The U.S. market is expected to reach $12.5 million in 2024 and grow at a compound annual growth rate (CAGR) of 4.4% until 2034. From 2024 to 2034, this market is expected to create an absolute potential worth US$ 18.7 million.
Wakame is a type of seaweed that provides several environmental advantages that align with the current consumer mindset on environmental awareness. Seaweed cultivation is one of the most sustainable food sources because it does not require fertilizers, freshwater, or land. As consumers become more aware of the environmental impact of their food choices, they are searching for items with lower carbon footprints. Wakame product manufacturers profit from this trend by highlighting their little environmental impact when compared to land-grown crops or animal goods.
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Market Development
Market expansion for wakame products is mostly being driven by the growing appeal of Asian food and culinary trends. Asian food is becoming more and more appreciated, especially those that use seaweed ingredients like wakame. This trend is a result of globalisation continuing to impact eating habits and food preferences around the globe. Moreover, the increased appeal of wakame products might also be attributed to their convenience. Pre-packaged wakame salads, snacks, and seasonings have become more popular in the market as time-pressed consumers seek for quick and simple ways to enhance their meals with flavour and nutrients.
Wakame's potential health advantages have caught the attention of the skincare and beauty industries, which has increased consumer interest. Wakame's high mineral content and antioxidant qualities are thought to promote skin health, possibly assisting in the improvement of skin suppleness, prevention of environmental damage, and reduction of the appearance of fine lines and wrinkles. This has expanded the market beyond food items and resulted in an increase in wakame-based skincare products and supplements.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global wakame products market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the product type (fresh wakame, dried wakame, salted wakame, wakame powder, wakame stem, wakame-based snacks and wakame supplements), application (food, cosmetic, spa treatments and industrial applications), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, Middle East & Africa).
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