The time is right to invest in a sustainable and booming European seaweed industry. The global seaweed market has more than tripled between 2000 and 2018, reaching 32.4 million tonnes of production with a value of USD 13.3 billion (€11.3 billion) in 2018. Most market forecasts anticipate a double-digit CAGR for the next 5 to 10 years to come.
Seaweed is a somewhat overlooked “unsung hero” of the ocean. With its range of applications and significant environmental and social benefits, sustainable seaweed has the potential of becoming a poster child for a regenerative material which can help address climate change, food and energy security and social prosperity.
The European seaweed industry is still far from capturing its full potential. Up until now, Europe has focused mainly on harvesting natural seaweed, but a maximum sustainable production level has been reached. To galvanize the industry, a move towards sustainable farming is necessary. Due to a fragmented value chain, a lack of awareness of the potential of seaweed outside of the industry, in particular among policy makers, and as a result limited investment, Europe is facing system-level barriers.
There never was a more perfect time to scale the industry. Not only do Europe’s cold and nutrient-rich waters provide ideal growing conditions, but with an innovative seaweed industry burgeoning and the seaweed agenda integrating strongly with the focus areas of the European Green Deal, the industry in Europe is ideally positioned to expand.
