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Initial assessment of market potential

The main objective of the SeaMark project is to demonstrate how to scale up innovative seaweed cultivation and processing into price-competitive product applications making the entire supply chain attractive for commercial investments.

This report is the third outcome from SeaMark Work Package 7 (WP7) – Go-To-Market (GTM) strategies for products, and it builds a foundation for the contribution of WP7 to the SeaMark objective “Analysis of markets and consumer preferences” (Specific Objective 9). WP7 deals both with the SeaMark flagship products and the SeaMark innovation products. For the flagship products, GTM strategies and SWOT (Strengths, Weaknesses, Opportunities, Threats) analyses were outlined in D7.1.

The first part of this report contains similar analyses for the SeaMark innovation products which are: · Bioactive fucoidan, Oceanium, United Kingdom · Bio-packaging materials, Oceanium, United Kingdom · Meat replacer product, Fermentationexperts, Denmark · Designer alginates, Algaia, France · Fucoidan extraction with enzymes, Algaia, France The initial analysis of GTM strategy is based on semi-structured expert interviews with key commercial stakeholders (Oceanium, Fermentationexperts and Algaia) based on a common interview guide agreed in advance. A SWOT analysis was then carried out to outline the opportunities and constraints of various GTM strategies.

The second part of this report expands on this preliminary analysis of GTM strategies both for the SeaMark flagship products (D7.1) and for the innovation products (first part of this report) and performs an initial assessment of their market application potential. This assessment is based on additional interviews with the stakeholders to get an update about the Technological Readiness Level (TRL) and Unique Selling Points (USPs) for the products. Further, in-depth interviews have been conducted with the industry purchasing group (IPG) and other potential buyers within the nutraceutical, cosmetic, pig feed, and alginate markets to conduct the initial assessment of market potential. Three production scenarios have been selected, focusing on the feasibility of rapid prototyping (short-term production scenarios) of the SeaMark products. The assessment shows that the SeaMark fucoidan products (bioactive fucoidan and fucoidan extracts with enzymes) for the cosmetic market, bioactive fucoidan for nutraceuticals, bioactive beta-glucans for cosmetics, and green alginates for food texture are the most promising short-term scenarios and are thus selected for the feasibility study (D7.4).

Read the full publication here.

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