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Seaweed Snacks Market

The global market for seaweed snacks Market is predicted to rise from USD 1.64 billion in 2020 to USD 3.8 billion by 2028 and register a CAGR of 11.3% during the projected period.

Seaweed snacks consist of organic ingredients and are rich in high fiber, vitamin A, B, E, and K, potassium, calcium, magnesium, and iron. These snacks are devoid of GMO ingredients which are gluten-free. The rising consumer preferences for readymade snacks along and the high purchasing capacity of people are the essential factors increasing the market growth of the seaweed snacks market. The seaweed snacks contain high nutritional properties that is expected to boost the market demand.

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The increasing vegan consumers in various countries and the surging awareness regarding healthy diet and nutritional food are fueling the growth of the seaweed snacks market. Various market players are innovating new techniques such as collaboration, mergers, and product launches to strengthen their position in the market. The augmenting demand for new products with different ingredients is predicted to expand seaweed snacks in the future. 

The COVID pandemic has affected the global seaweed snacks market. Several areas around the globe were under lockdown during the initial days of the pandemic. Due to this, there has been a disruption in the supply chain. 

Factors such as high production costs and uncertainty of raw materials might hamper the market expansion of seaweed snacks. 

Key players in the seaweed snacks market include Eden foods, Annie Chun’s, gimMe Health Foods Inc., Taokaenoi Food & Marketing, SeaSnax, Roland’s foods, and Oceans Halo.

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For this study, Reports and Data has segmented the global seaweed snacks market based on Source, Product Type, Distribution Channel, and Region:

Source Outlook (Revenue, USD Million, 2021 – 2028)
Brown
Red
Green

Product Outlook (Revenue, USD Million, 2021 – 2028)
Bars
Flakes
Strips & Chips
Others

Distribution Channel Outlook (Revenue, USD Million, 2021 – 2028)
Convenience Stores
Specialty
Online
Supermarket

Regional Outlook (Revenue, USD Million, 2021 – 2028)
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

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Further key findings:

• Based on the source, the red seaweed segment is held the highest market share in 2020 and is predicted to retain its position during the analysis period from 2021 to 2028. The extensive use of red seaweed for making nori sheets will increase the demand for the red seaweed industry and thereby expand the market for seaweed snacks market. The growing awareness regarding health benefits and growing requirement for snacks obtained from red seaweed is estimated to drive the market. 
• Based on the distribution channel, the online distribution channel is predicted to observe significant growth as many consumers find it easy to shop online from their homes instead of shopping in physical stores. Also, the products are available at discounted rates on various online portals including Tesco PLC, Sainsbury’s, and Amazon.
• The offline distribution channel led the market with the highest revenue share as multiple stores are offering a variety of snacks and products that attracts a significant bunch of people to visit such stores and purchase the products. 
• Based on the product type, the strips and chips industry led the market with the highest revenue generation in the global seaweed snacks market. The commonly available nori strips are popular among people as they are low in calories and better substitutes for the high-calorie chips.  
• The bar snack products are evaluated to witness the highest CAGR during the estimated period. These snack bars are available in sweet and savory flavors.  
• North America is accounted to witness a considerable CAGR during the projected period due to increasing awareness regarding health and obesity. The sudden inclination towards healthy diet consumption is accelerating the demand for seaweed products in the North American region.  
• Europe is predicted to observe a CAGR of 14.7% during the projection period due to the rising demand for seaweed food products. 

Key Features of the Seaweed Snacks Market Report:

• The report offers a comprehensive analysis of the changing competitive dynamics.
• Provides a futuristic outlook on the key market drivers and restraining factors.
• A comprehensive 8-year forecast of the market and its expected growth rate and pattern.
• In-depth analysis of the key product segments and application spectrum
• Provides strategic recommendations to the established companies and new entrants to provide a competitive advantage over the other companies.
• Comprehensive analysis of the key regions of the industry and provides a SWOT analysis and Porter’s Five Forces analysis to impart a deeper understanding of the market.

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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