Seaweed Market Analysis in India
The relevance of research
Several thousand species of algae grow in the seas and oceans, of which more than 100 species are used by humans for food, as fertilizers, for technical and fodder purposes.
In India, Japanese kelp (seaweed) is widely used as food. From seaweed, fodder grains are produced, which are added to compound feed in the amount of 1-5%. When using algae as a fertilizer, they are introduced into the soil along with microelements, growth-stimulating substances, and the soil acquires a good structure. From red algae, agar, agaroid, carrageenan are obtained, which are widely used in medicine, pharmacology, phytopathology, perfumery, food and many other industries. Alginates (salts of alginic acid), which have stabilizing properties, and mannitol are obtained from brown algae.
Purpose of the study
Analysis of the state of the seaweed market, assessment of the market volume, analysis of competitors, consumers, as well as identification of factors affecting the market
Content
Part 1. Overview of the Indian seaweed market
1.1. Main characteristics of the market
1.2. Seaweed Market Volume Dynamics 2015-2019 Potential market capacity
1.3. Assessment of factors affecting the market
1.4. Seaweed Market Life Cycle Stage
1.5. Competition from substitute products
Part 2: Competitive Analysis in the Seaweed Market
2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players
Part 3. Analysis of seaweed production
3.1. Volume and dynamics of domestic seaweed production
3.2. Share of exports in seaweed production
3.3. Seaweed production segmentation by region
3.3.1. Production by Union Territories
3.3.2. Production by states of India
Part 4. Analysis of foreign trade supplies of seaweed
4.1. Volume and dynamics of seaweed imports
4.2. Import structure
4.3. Seaweed export volume and dynamics
4.4. Export structure
Part 5. Seaweed consumption analysis
5.1. Seaweed Consumption Dynamics
5.2. Analysis of the results of tenders for the purchase
Part 6. Price Analysis
6.1. Average producer prices by union territories
6.2. Average consumer prices by states in India
Part 7. Assessment of factors of investment attractiveness of the market
Part 8. Seaweed Market Forecast to 2024
Part 9. Recommendations and conclusions
Research excerpt
Part 1. Overview of the Indian seaweed market
1.1. Main characteristics of the market
Several thousand species of algae grow in the seas and oceans, of which more than 100 species are used by humans for food, as fertilizers, for technical and fodder purposes.
In India, Japanese kelp (seaweed) is widely used as food. From seaweed, fodder grains are produced, which are added to compound feed in the amount of 1-5%. When using algae as a fertilizer, they are introduced into the soil along with microelements, growth-stimulating substances, and the soil acquires a good structure. From red algae, agar, agaroid, carrageenan are obtained, which are widely used in medicine, pharmacology, phytopathology, perfumery, food and many other industries. Alginates (salts of alginic acid), which have stabilizing properties, and mannitol are obtained from brown algae.
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Chart 1. Harvest ratio of seaweed species in India, 2019, %
Algae workers say that kelp is a more complex raw material than any fish that can be frozen and only then sold. algae must be harvested and processed immediately. If you delay the raw material for 10-12 hours, it will lose its useful properties. Not all miners are ready to take risks like that.
More than 80% of the harvested algae in the world are grown artificially and the proportion of artificially grown algae is increasing every year. Man cultivates 20-25 species of algae. Industrial artificial cultivation of any type of algae requires an initial investment…
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Diagram 2. The ratio of imported and domestic products in the seaweed market, 2015-2019, %
1.2. Seaweed Market Volume Dynamics 2015-2019 Potential market capacity
The volume of the seaweed market in 2019 increased by 10,4% compared to 2018 and amounted to 13,2 thousand tons. In general, the market is in a transitional type of stagnation: the industry is trying to fit into a new free market model.
Diagram 3. Dynamics of the volume of the seaweed market, 2015 - 2019, thousand tons
The importance of seaweeds and their role in the development of the national economy by the Indian industry is underestimated. World statistics show that more than ... million tons are harvested worldwide together with aquaculture algae. In many countries of the world, they receive good profits from the extraction of algae and the sale of products from it. Therefore, it is difficult to call it an unattractive business. The industry is interested in scientific developments and immediately implements the most successful of them.
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Diagram 4. Revenue (net) from the sale of seaweed by union territories for 2015 - 2019, %
1.3. Assessment of factors affecting the market
Economic
GDP dynamics
Data on the dynamics of GDP is a macroeconomic indicator that reflects the market value of all final goods and services (that is, intended for direct consumption) produced per year in all sectors of the economy on the territory of the state for consumption, export and accumulation.
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technological
The use of algae in agriculture
In a number of countries there is a similar experience with the use of seaweed. A comprehensive analysis of the possibilities of using marine plants, carried out by specialists from the Pacific Branch of VNIRO, showed great prospects for their use in agriculture. The special program developed by them ""The use of marine plant raw materials from the Far Eastern seas in feed and fertilizers for agriculture"" provides for a comprehensive study of the resource base of algae and sea grasses, their extraction and processing for agricultural purposes.
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Table 2. STEP analysis of factors affecting the seaweed market
According to the results of the performed STEP-analysis, macro-environmental factors have a more positive impact on the development of the seaweed market.
Trends in the development of seaweed applications, the development of seaweed producing regions, the development of new technologies and the fashion for a healthy lifestyle positively influence the development of the market. It should be noted that the fall in the level of income of the population, the underdevelopment of reserves have a restraining effect on the market.
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Part 2: Competitive Analysis in the Seaweed Market
2.1. Major players in the market
It is rather problematic to identify the largest players in the seaweed market due to the fact that the production of seaweed in large Indian fishing and fish processing companies, as a rule, occupies a small share of the total production. Among Indian companies, only manufacturers of seaweed products that extract raw materials on their own are taken into account.
Table 3. Main companies participating in the seaweed market in 2019
2.2. Market shares of the largest competitors
The assessment of the shares of the largest operators in the seaweed market was carried out by GidMarket based on Rosstat data on the companies' revenues in 2019, taking into account the share of seaweed products in the total assortment of the company, the volume of imports of products by the largest recipients in 2019.
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Diagram 10. Shares of the largest competitors in the seaweed market in 2019, %
2.3. Profiles of major players
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Thus, AOWC implemented a comprehensive waste-free technology for processing brown algae, which, in addition to alginates and mannitol, made it possible to obtain a number of valuable substances, food concentrates and dietary supplements....
Part 3. Analysis of seaweed production
3.1. Volume and dynamics of domestic seaweed production
The production increased by … thousand tons over the period under review. The maximum amount of algae was harvested in 2016 - … thousand tons. The values proposed by science for withdrawal are not fully mastered due to the lack of interest in seaweed by fishing and processing organizations. The main reasons are economic in nature.
Diagram 11. Dynamics of seaweed production volumes in India for 2015 - 2019, thousand tons
It is also worth noting that in 2017, Japan paid India ... yen (about ... dollars) for the right to harvest kelp in the Kuriles. According to the Federal Agency for Fisheries, the volume of fishing did not exceed ... tons....
3.3. Seaweed production segmentation by region
3.3.1. Production by Union Territories
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Table 5. Dynamics of seaweed production in India by Union Territories
3.3.2. Production by states of India
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Chart 14. Seaweed production in India by state of India, %, 2019
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Diagrams
Chart 1. Harvest ratio of seaweed species in India, 2019, %
Diagram 2. The ratio of imported and domestic products in the seaweed market, 2015-2019, %
Diagram 3. Dynamics of the volume of the seaweed market, 2015 - 2019, thousand tons
Diagram 4. Revenue (net) from the sale of seaweed by union territories for 2015 - 2019, %
Diagram 5. Dynamics of India's GDP, % to the previous year, 2012-2 quarter 2020
Chart 6. Expert forecasts for a decline in real GDP in India in 2020 (baseline/neutral scenario), %
Diagram 7. Monthly dynamics of the US dollar against the rupee, Rs. for 1 US dollar, 2015-July 2020
Diagram 8. Dynamics of the population of India, million people, as of 01 Jan. 2012-2020
Diagram 9. Dynamics of real incomes of the population of India, % to the previous year, 2012-1 half of 2020
Figure 1. Seaweed Market Life Cycle Stage
Chart 10. Shares of the largest competitors in the seaweed market in 2019,
Diagram 11. Dynamics of seaweed production volumes in India for 2015 - 2019, thousand tons
Chart 12. Dynamics of the total revenue of the largest producers (TOP-5) of seaweed in India, 2015-2019
Diagram 13. The share of exports in production for 2015–2019, %
Chart 14. Seaweed production in India by state of India, %, 2019
Diagram 15. Volume and dynamics of seaweed imports in physical terms, 2015-2019, tons
Diagram 16. Volume and dynamics of seaweed imports in monetary terms, 2015-2019, thousand US dollars
Diagram 17. Dynamics of export of seaweed in natural terms, 2015-2019 tons
Diagram 18. Dynamics of export of seaweed in monetary terms, 2015-2019, thousand US dollars
Diagram 19. Balance of exports and imports, 2015-2019, million Rs.
Chart 20. Structure of exports by countries in 2019, %
Diagram 21. Dynamics of seaweed consumption in monetary terms, 2015 - 2019
Diagram 22. Shares of seaweed customers by total amount of contracts among tenders worth more than 500 thousand Rs., concluded in January. 2020 - Jul. 2020, %
Diagram 23. Shares of seaweed supply regions by the total amount of contracts among tenders worth more than 500 thousand Rs., concluded in January. 2019 - Jul. 2020,
Diagram 24. Forecast of market size in 2020-2024 – in case of a single quarantine scenario
Diagram 25. Forecast of the volume of the carsharing market in 2020-2024 – in the scenario of two quarantines
List of tables
Table 1. Expert forecasts for the decline in real GDP in India in 2020, %
Table 2. STEP analysis of factors affecting the seaweed market
Table 3. Main companies participating in the seaweed market in 2019
Table 4. Profiles of companies participating in the seaweed market in 2019
Table 5. Dynamics of seaweed production in India by Union Territories
Table 6. Structure of seaweed imports by importing countries in 2019, thousand US dollars
Table 7. Tenders for the purchase of seaweeds announced Jan. 2019 - Jul. 2020 with a contract amount of more than 500 thousand Rs.
Table 8. Average producer prices for whole kelp in the Union Territories, Rs./ton, July 2020
Table 9. Average consumer prices for seaweed salad by Indian states, Rs./100 g, July 2020
Table 10. Assessment of factors of investment attractiveness of the seaweed market
Table 11. Assessment of the impact of recent crises on the industry
Table 12. Analysis of the impact on the industry of the state aid proposed as of April 14.07.20,
Table 13. Forecast indicators for the basic and pessimistic scenarios for the development of the crisis, %
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