Seaweed Based Packaging Market Size, Share, Opportunities, And Trends By Application (Food And Beverages, Pharmaceutical And Healthcare, Personal Care And Cosmetics, Others), And By Geography - Forecasts From 2023 To 2028

The seaweed-based packaging market is anticipated to expand at a high CAGR over the forecast period.

Seaweed Packaging Market Overview:

Seaweed packaging is a viable alternative to plastic and is environmentally friendly. The use of non-food-grade seaweed increases market prospects for ocean farmers and gives businesspeople the raw materials they need to create substitutes for packaging made of fossil fuels. Making plastic substitutes from regenerative ocean-farmed seaweed benefits people and the environment because plastic waste accounts for 80% of all marine pollution (Source: oceanliteracy.unesco.org). Seaweed substitutes for plastic packaging can potentially be a high-value, high-volume market with significant demand.

Seaweed Packaging Market Drivers:

• Seaweed packaging market to reduce plastic waste

Antioxidants, fibres, and robust polysaccharides are all naturally abundant in seaweed. When certain biodegradable polymers are combined with seaweed, packaging materials may have a sustainable and superior advantage over traditional ones. Their main benefit is the ability to make seaweed-based packaging materials edible without the use of adulterants or preservatives. Creating new edible packaging sources has helped seaweed-based packaging solutions become more well-liked. For instance, a biodegradable and potentially edible seaweed-based plastic substitute has been developed by the London-based business Notpla. It hopes to make a dent in the 300 million tonnes of plastic waste people produce annually. Unlike synthetic polymers, which take hundreds of years to decompose, Notpla's natural plastic-like casing degrades within four to six weeks.

• Edible seaweed packaging use in the food industry

Global urbanization has enhanced many people's quality of life and generated jobs. This intensifies a fast-paced lifestyle, which, in turn, makes processed food more necessary. Foods that have been processed frequently come in plastic packaging, which can be very polluting. A whopping 36% of all plastics made are used in packaging, including single-use items for food and drink containers disposed of in landfills or as uncontrolled garbage in a whopping 85% of cases (Source: unep.org). This has inspired people to advocate creating and utilizing edible packaging that may be consumed or composted. This can stop several infectious and communicable diseases. As a result, there is a rise in demand for packaging made of edible, ecological seaweed.

• Government initiatives in seaweed production and implementation in packaging

To lessen the negative impacts of synthetic agrochemicals on the environment, it is vital to develop bio-based agrochemicals. Government agencies have worked hard to control the creation and consumption of ecologically friendly items. For instance, Melbourne's Victoria University is leading a Sino-Australian effort to utilize seaweed as a substitute for plastic packaging, which was begun in November 2022. Every year, China produces and collects around 75 percent of the world's seaweed. There are seaweed farms on the Shandong Peninsula that have been set up specifically for the manufacture of polymers. Similarly, the European Commission (EC) introduced a stakeholder platform in February 2022 to encourage the use of algae for packaging and nutrition. The project, known as EU4Algae, intends to hasten the commercialization of seaweed in Europe and increase consumer awareness of it.

Seaweed Packaging Market Key Developments:

• November 2022: To hasten the adoption of genuinely sustainable offers in the takeaway sector, Notpla introduced a new line of seven packaging solutions coated with seaweed. Notpla Coating has been created to naturally biodegrade and is both recyclable and biodegradable at home. The fact that it is formed of plants and seaweed gives it many of the same water and grease resistance properties as plastic.
• November 2021: Early-stage investor Valor Siren Ventures led a $2.5 million fundraising round for the US-based seaweed packaging business Sway. Sway wants to create a readily available, carbon-free bioplastic made from seaweed to replace single-use plastic packaging. The business will use the funding's earnings to create compostable retail bags and polybags.
• March 2021: New environmentally friendly plates made of by-products from the seaweed industry have been introduced by Marine Innovation, a social enterprise backed by SK Innovation. The freshly introduced plates from Marine Innovation come in two different designs and are in high demand by hotels, resorts, and restaurants. With the expansion of meal delivery services and during this pandemic, throwaway rubbish is predicted to decrease thanks to Marine Innovation's environmentally friendly food containers.

COVID-19 Impact

The government has been compelled to enact various restrictions and lockdowns in numerous regions all over the world as a result of the pandemic's spread. Many companies have closed down their production and manufacturing operations. The ban first decreased the market for edible packaging, but as the limitations were loosened, it eventually rose. Due to the seriousness of the situation, people are turning to edible packaging options as a better and safer substitute. Numerous algae-based products have been introduced worldwide since the COVID-19 epidemic began because of their capacity to support the immune system. Additionally, these remedies are frequently employed to eliminate the catalysts for the virus's quick spread, which will help the seaweed packaging market grow.

Seaweed based packaging market Scope:

Segmentation:

• By Application
  • Food And Beverages
  • Pharmaceutical and Healthcare
  • Personal Care and Cosmetics
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • UAE
    • Isreal
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others