Seaweed Market Scan - Dec 6, 2022

Scottish Government report predicts that Scotland's seaweed industry could reach a total turnover of 71.2m GBP per year by 2040, if backed and given chance to grow.

Posted on Dec 6, 2022 by Md Sharif

Notable News:

  • Scottish Government report predicts that Scotland's seaweed industry could reach a total turnover of 71.2m GBP per year by 2040, if backed and given chance to grow.
  • The Canadian Centre for Fisheries Innovation CCFI is supporting research into the development of commercial seaweed operations off the coast of Newfoundland, positioning Canada to become a bigger player in a billion-dollar global industry.
  • ANL, Australian shipping company announces the launch of 'The K-Help Initiative', the company’s newest project aiming to protect marine biodiversity, focusing on the regeneration of giant kelp forests around the south-eastern part of Tasmania, Australia.
  • Oceanium is part of a new industry-wide consortium funded by the European Union which will propel the seaweed farming industry across Europe. SeaMark is a consortium comprising 25 international, cross-disciplinary partners which has been awarded a prestigious €9 million grant to upscale seaweed production and market applications across Europe, meet the growing demand for seaweed-based products and attract investment from multiple sectors.  
  • Microalgae have the potential to improve the quality of soil.
  • New type of seaweed found below Antarctica could help limit global warming.

Company News:

  • Vegan food manufacturer Vgarden, and microalgae-based alternative protein company Brevel, announced a collaboration to develop a new category of high-protein plant-based cheese.
  • UK-based aquaculture company Seafields has announced a deal with sister company JustCarbon, a blockchain carbon marketplace, to tokenise the carbon removal credits.
  • Brilliant Planet (UK) aims to engineer algae blooms to remove emissions, and then sell the service in carbon markets.
  • GreenWave’s launched the Kelp Climate Fund in 2021 to provide ocean farmers direct payments for the bundle of climate impacts that growing kelp provides - specifically, carbon and nitrogen removal and reef restoration.
  • Australian start-up Rumin8 is offering a synthetic alternative that mimics the effect of seaweed in preventing cows from belching climate-warming methane.

Science and Technology:

  • The movement patterns of microscopic algae can be mapped in greater detail than ever before, giving new insights into ocean health –  new technology developed at the University of Exeter.
  • Researchers are looking at ways to reuse the material on decommissioned oil platforms to be new source of feed for Scottish aquaculture, which can include seaweed, mussels and corals.

New Products:

  • This ‘Shark Tank’ Startup – Umaro Foods – is making vegan bacon out of seaweed

OCEANIUM (Scotland) has developed a high-fibre seaweed-based one-for-one methylcellulose replacement for plant-based meat which can be used in other products applications including gluten-free breads and beverages.

BIOMIX GRANULES

all-purpose organic input for all crops.

BM START

biostimulant for grape growers/vineyards.

 Funding / Grants:

  • University of Gothenburg (Sweden) researchers received funding of 1.1 million USD for projects in seaweed/aquaculture.
  • Sidney-based Cascadia Seaweed has been given $4.3 million by the federal government to establish a 100-hectare seaweed farm and agri-feed processing facility.

 Conference / Webinar:

  • AlgaEurope 2022: December 13-15
  • Seagriculture Conference Asia-Pacific 2023: 8-9 February

Following narratives continue to make buzz in social media:

  • Seaweed farming to reduce carbon emissions.
  • The food production of the future is in the sea.
  • Notpla, alternate plastic from seaweed. / Seaweed in packaging industry
  • Seaweed to reduce methane emission in cows / seaweed as cattle supplement.
  • Seaweed uses in fashion / clothing.
  • Algae as source for Omega-3s, DHA, EPA, Iodine etc.
  • Seaweed uses in alcohol.
  • Algae uses in medicines including cancer, diabetes, thyroid, diabetes.
  • Seaweed as a source of a range of vitamins and minerals, including iodine, calcium, iron, dietary fibers
  • Seaweed in food, snacks etc.
  • Seaweed based fertilizer and soil additives

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