Seaweed Snacks Market Size, Share & Trends Report

Seaweed Snacks Market Size, Share & Trends Analysis Report By Product (Bars, Strips & Chips, Flakes), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Dec, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-315-9
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 80

Report Overview

The global seaweed snacks market size was valued at USD 1.48 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 10.8% from 2020 to 2027. The growing demand for better-for-you food items among consumers has been driving the market growth. The rich nutrition profile of these products has been attracting consumers seeking a healthy diet. Furthermore, such products fit well with the rising trend of “free-from” food products as they are free from common allergens, gluten, and GMOs. Thus, the rising preference for healthy foods is expected to boost the product demand in the coming years. Seaweeds contain vitamins (A, B6, B12, C, E, and K), minerals, fiber, antioxidants, protein, iodine, calcium, amino acid, folic acid, potassium, and omega-3 fatty acid.

The U.S. seaweed snacks market size, by distribution channel, 2016 - 2027 (USD Million)

The presence of amino acids and iodine helps the thyroid gland to function properly. Furthermore, the fiber content of the product helps improve gut health and reduce weight. The product also helps in lowering cholesterol levels, the risk of blood clots, and blood pressure. Moreover, the increasing adoption of the vegan diet has fueled product demand. Seaweed is a plant-based source of umami flavor and is an excellent source of iodine for vegan consumers.

Furthermore, the growing popularity, as well as the availability of sushi in the western countries, has been contributing to the growth of the market. Over the past few years, sushi rolls made with seaweed roll-ups are gaining traction as snacking food. In addition, the rising number of product launches using different flavors and incorporating seeds and nuts are expected to boost the demand further.

Distribution Channel Insights

The offline segment accounted for the largest revenue share of more than 87% in 2019. The products have gained significant shelf space in offline retail outlets, including supermarkets, hypermarkets, and convenience stores. Furthermore, the majority of consumers still prefer to shop from the physical stores. Most manufacturers use both offline and online distribution channels to reach the maximum number of consumers.

The online distribution channel is anticipated to register the fastest CAGR of 11.6% from 2020 to 2027. Attractive price discounts along with the convenience of shopping from home are driving product sales through online channels. Amazon, Tesco PLC, Asda Stores Ltd., Sainsbury’s, and Instacart are some of the key online retailers across the globe.

Product Insights

The strips & chips product segment held the largest market share of more than 53% in 2019. The segment will expand further at a steady CAGR from 2020 to 2027 as major manufacturers have been introducing innovative products to expand their product portfolio. For instance, in January 2017, Ocean’s Halo introduced three new products, including dark chocolate strip, chili lime, and Korean BBQ flavored sheets, and organic sushi nori. However, the bar snacks segment is expected to witness the fastest CAGR over the forecast period. Over the past few years, nutrition bars are gaining significant traction among consumers. These bars or squares are available in sweet and salty flavors combined with other ingredients, such as sesame seeds, cereals, or even chocolates.

Global seaweed snacks market share, by product, 2019 (%)

Regional Insights

Asia Pacific was the largest regional market in 2019 and accounted for over 50% of the total revenue share. South Korea, Japan, China, and Thailand are the prominent markets of the region. Seaweed is a staple food in these countries. The regional market has a wide variety of seaweed snacks in terms of flavors and textures.

On the other hand, North America is expected to register the fastest CAGR of over 11% from 2020 to 2027. The increasing health concerns along with rising cases of obesity have been fueling the demand for seaweed snacks in the region. In September 2018, Taokaenoi Food & Marketing PCL’s subsidiary Nora Snacks launched a range of seaweed chips in the U.S. The company launched seaweed snacks through Amazon and other online stores.

Key Companies & Market Share Insights

The global market is highly competitive due to the presence of several international and regional players. Major companies focus mostly on product innovation and portfolio expansion to gain a higher market share. For instance, Shore Seaweed recently launched a range of new vegan seaweed snacks that includes four different flavors: sweet wasabi, tangy tomato, fruity cranberry, and almond butter. In March 2020, gimMe Health Foods Inc. introduced its new sea salt & avocado oil roasted flavor. The addition of this new flavor was influenced by consumer trends and the health benefits of these snacks. These strips are available in 9 grams and 4.5 grams packs in both offline and online stores. Some of the key players operating in the global seaweed snacks market include:

  • Taokaenoi Food & Marketing PCL

  • gimMe Health Foods Inc.

  • Frito-Lay North America, Inc.

  • Annie Chun’s, Inc.

  • Kimnori U.S.A. Inc.

  • KPOP Foods

  • SeaSnax

  • Ocean’s Halo

  • SEAWEED MARKET OÜ

  • Singha Corporation 

Seaweed Snacks Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 1.66 billion

Revenue forecast in 2027

USD 3.36 billion

Growth Rate

CAGR of 10.8% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million/billion and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; China; South Korea; Japan; Brazil

Key companies profiled

Taokaenoi Food & Marketing PCL; gimMe Health Foods, Inc.; Frito-Lay North America, Inc.; Annie Chun’s, Inc.; Kimnori U.S.A., Inc.; KPOP Foods, Inc.; SeaSnax; Ocean’s Halo; Seaweed Market OÜ; Singha Corp.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segment from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global seaweed snacks market report on the basis of product, distribution channel, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2027)

    • Strips & Chips

    • Flakes

    • Bars

    • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

    • Offline

    • Online

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • South Korea

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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