World Bank Tokyo Online Morning Seminar #173 “Global Seaweed New and Emerging Markets 2023”

A new World Bank report estimates that ten emerging global seaweed markets have a potential growth of up to $11.8 billion by 2030. This monetary value comes with seaweed’s ability to sink carbon, sustain marine biodiversity, employ women, and unlock value chains.

The Global Seaweed New and Emerging Markets Report 2023, issued on August 16, 2023, analyses the commercial opportunities for new high-growth seaweed market applications. The report offers insights for entrepreneurs, investors, and policymakers towards ensuring the seaweed sector fulfils its potential now and into the future.

Today, most farmed seaweed is used for direct human consumption or fresh feed in aquaculture. In the future, seaweed products can displace fossil fuels in sectors such as textiles and plastics, sequester carbon, and generate income for fragile coastal communities. There are huge growth opportunities in many regions, as the current market is dominated by a few Asian countries which produce 98 percent of farmed seaweed.

At this online seminar, Harrison Charo Karisa, Senior Fisheries Specialist and Christopher Ian Brett, Lead Agribusiness Specialist, discussed the main points.