The Republic of Korea has soared to the top of the seaweed private sector ranking capturing a 70.6% share of the global dried seaweed market valued at $918 million. Korea is also at the forefront of a transformative wave in the realm of sustainable innovations, with startup companies pioneering the exploration of seaweed's extensive potential.
This webinar draws inspiration from the country’s successes and will highlight significant growth opportunities and innovative applications in new regions. It is designed to promote private sector growth and strengthen collaboration between the private and public sectors.
In this webinar we will be joined by three private sector innovators that have received support from the government of the Republic of Korea to develop seaweed enterprises. The Korea Institute of Marine Science & Technology Promotion (KIMST), a public organization governed by the Ministry of Oceans and Fisheries, is providing phase-specific startup support and cultivating an innovative ecosystem for entrepreneurs in the marine industry.
Two enterprises, SeaWith and HN Novatech are offering healthier alternatives to meat consumption, promoting a more sustainable, health-conscious food system. Lastly, we will hear from Marine Innovation, which produces biodegradable plates made from seaweed, providing an innovative eco-friendly dining solution that minimizes waste and enhances environmental awareness.
Calendar » Spotlight on Innovation in Republic of Korea's Seaweed Sector: Entrepreneurial Startups Expand into Global Markets
Spotlight on Innovation in Republic of Korea's Seaweed Sector: Entrepreneurial Startups Expand into Global Markets
https://worldbankgroup.zoom.us/j/99745490780?pwd=cEgyVkN2ZytKbGVIUDhkSkVxUS9YZz09
Meeting ID: 997 4549 0780 Passcode: H!eZSxdGV6
The seaweed sector is brimming with untapped potential that extends far beyond its current primary uses as food, aquaculture feed, and hydrocolloids. The World Bank Global Seaweed New and Emerging Markets Report 2023 estimates the growth potential across 10 emerging seaweed markets could be up to US $11.8 billion by 2030.
In particular, seaweed may have the potential to play a more substantial role in biodegradable packaging, a market that is projected by India-based Mordor Intelligence to grow from US $105.26 billion in 2024 to US $140.66 billion by 2029, at a compound annual growth rate (CAGR) of 5.97%. The World Bank projects a 36 percent CAGR on seaweed-based meat and seafood alternatives, which will add $448 million between 2022 and 2030. This was estimated to be worth $10.2 billion in 2022.
The Republic of Korea has soared to the top of the seaweed private sector ranking capturing a 70.6% share of the global dried seaweed market valued at $918 million. Korea is also at the forefront of a transformative wave in the realm of sustainable innovations, with startup companies pioneering the exploration of seaweed's extensive potential.
This webinar draws inspiration from the country’s successes and will highlight significant growth opportunities and innovative applications in new regions. It is designed to promote private sector growth and strengthen collaboration between the private and public sectors.
In this webinar we will be joined by three private sector innovators that have received support from the government of the Republic of Korea to develop seaweed enterprises. The Korea Institute of Marine Science & Technology Promotion (KIMST), a public organization governed by the Ministry of Oceans and Fisheries, is providing phase-specific startup support and cultivating an innovative ecosystem for entrepreneurs in the marine industry.
Two enterprises, SeaWith and HN Novatech are offering healthier alternatives to meat consumption, promoting a more sustainable, health-conscious food system. Lastly, we will hear from Marine Innovation, which produces biodegradable plates made from seaweed, providing an innovative eco-friendly dining solution that minimizes waste and enhances environmental awareness.