Identifying Promising Seaweed-Based Emerging Industries and Analyzing Their Industry Life Cycles
This study identifies promising new industries utilizing seaweed in Re. of Korea and examines their current positions within the industry life cycle. Through expert interviews and surveys across industry, academia, research institutes, and government, seaweed-based industries were classified into six categories, including functional and alternative foods, feed and feed additives, bio and pharmaceutical industries, beauty and personal care, functional materials, and energy and environmental industries. Qualitative evaluation criteria-such as raw material availability, technological feasibility, market growth potential, economic feasibility, and sustainability-were applied to assess industrial potential. Based on these criteria, functional and alternative food industries and beauty and personal care industries were identified as the most promising sectors. In addition, this study analyzes the industry life cycle stages of each sector using a framework consisting of introduction, growth, adjustment, maturity, and decline stages. The results show that most seaweed-based industries in Re. of Korea are positioned in the growth or adjustment stages, while the beauty and personal care industry has entered the maturity stage. These findings suggest that differentiated policy strategies aligned with industry life cycle stages are essential for promoting sustainable development and diversification of seaweed-based industries in Rep. of Korea.