Primus Partners has released a comprehensive report titled “Seaweed Farming Can Touch a Million Lives”, highlighting the immense potential of seaweed cultivation to revolutionize India’s coastal economy.
The report projects that India’s seaweed sector, currently valued at ₹200 crore, could skyrocket to ₹3,277 crore within the next decade. This growth could positively impact 1.6 million people and provide sustainable livelihoods for 4,00,000 families.
Untapped Potential Along India’s Coastline
India’s vast coastline, including Maharashtra, Tamil Nadu, Gujarat, and island regions, offers a major opportunity for large-scale seaweed farming. Growing demand from food, pharma, cosmetics, and agriculture industries is set to make seaweed farming a key driver of India’s blue economy.
Despite its potential, India currently accounts for less than 1% of global seaweed production. Several obstacles, including poor seed quality, supply chain inefficiencies, and weak market linkages, hinder the sector’s expansion.
Economic Benefits and Market Challenges
The report highlights the strong revenue potential of seaweed farming. Farmers cultivating high-value species like Kappaphycus alvarezii could earn up to ₹13.28 lakh per hectare annually. However, both buyers and farmers face significant challenges:
- Buyers’ Struggles: Inconsistent supply, poor logistics, and the absence of contract farming policies force buyers to rely on imported seaweed.
- Farmers’ Hurdles: Limited awareness of modern farming techniques, environmental risks, and weak market access restrict farmers from fully adopting seaweed cultivation.
Government Initiatives and Strategic Recommendations
The Indian government supports seaweed farming through PMMSY budget allocations and financial aid via KCC and Mudra Loans. However, the report urges a more structured approach in three key areas:
- Infrastructure Development
- Set up onshore and offshore seed banks to ensure consistent supply.
- Develop micropropagation facilities for high-quality seed production.
- Establish processing units near cultivation sites to streamline logistics.
- Policy Reforms
- Simplify land leasing policies to encourage private investment.
- Introduce contract farming regulations to guarantee stable income for farmers and a reliable supply for buyers.
- Market Expansion
- Encourage public-private partnerships (PPPs) to strengthen the seaweed value chain.
- Offer fiscal incentives to attract investments in seaweed processing and export.
Expert Insights: Unlocking the Sector’s Full Potential
Industry experts stress the need to resolve key challenges to maximize growth:
Dr. Stefan Kraan, Chief Scientific Officer at TSC-Purple Pvt. Ltd. (Tuticorin, Tamil Nadu), highlighted the potential of Lakshadweep, where seaweed production per unit of seeds has reached up to 15X in some regions.
Abhiram Seth, Managing Director of Aquaagri Processing Pvt. Ltd., emphasized the importance of changing perceptions around Kappaphycus, stating, “If the perception issue of Kappaphycus can be solved, seaweed farming can provide livelihood to a million lives.”
A Call for Collaborative Action
Ramakrishnan M, MD of Primus Partners and author of the report, described seaweed farming as a “tidal shift in sustainable agriculture.” He emphasized that embracing this untapped resource will strengthen India’s blue economy, boost coastal livelihoods, and promote environmental sustainability.
The report urges strong collaboration between the government, private sector, and coastal communities to unlock the full potential of seaweed farming. As per the press release, by addressing existing challenges and implementing strategic reforms, India can emerge as a global leader in the seaweed industry, driving sustainable economic growth and empowering millions.
