New York, United States , June 12, 2023 (GLOBE NEWSWIRE) -- The Global Seaweed Extracts Market Size is to grow from USD 1.7 billion in 2022 to USD 2.7 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.0% during the forecast period.
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Seaweed extracts come from macroalgae, which flourish in the frigid oceans of the planet. The main macroalgae from which seaweed extracts are produced are red algae (Rhodophyta), brown algae (Phaeophyceae), and green algae (Chlorophyta). Initially, seaweed that was meant for human consumption was gathered from the sea or the coast. It has long been a part of the cuisine of China, Japan, and Korea. Locally cultivated foods are quickly consumed when consumed. Due to its capacity to be dried, kept in shape for a longer time, and transported conveniently, seaweed was recognized as a desired meal and turned into a commercial product. Rising product demand from a range of industries, notably the agriculture sector, is predicted to support industry growth. When used in fertilizers, it boosts agricultural output at a lower cost. The crop's natural defenses are strengthened, making it easier for it to stave off pests like aphids and red spider mites.
The discovery of novel applications for seaweed extracts in the creation of biofuels like bio-butanol, a substitute for diesel, has led to a major expansion in the market for seaweed extracts in recent years. Seaweeds are thought to be a good source for producing bioethanol and biogas because of their high carbohydrate content. Seaweed extract has a wealth of vitamins and minerals that help to soften, soothe, and reduce irritation while also maintaining the skin's natural stability. The soothing marine herb in seaweed extract soothes skin irritation brought on by the environment. Furthermore, the primary constraint to the global market for seaweed extracts is the complex extraction process. The need for clean-label products is another factor impeding the growth of the seaweed extracts market. Due to stringent government regulations and continuing consumer scrutiny for health concerns, participants in the seaweed extract sector have had to go through several stages to acquire authorization from authorities.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Seaweed Extracts Market Size, Share, and COVID-19 Impact Analysis, By Type (Red, Brown, & Green), By Form (Liquid, Powder, & Flakes), By Application (Food & Beverage, Agriculture, Pharmaceuticals, and Nutraceuticals), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032". Get Detailed Report Description Here:
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The brown segment is influencing the market with the largest market share during the forecast period.
The market for seaweed extracts worldwide is divided into three types: red, brown, and green. During the projected period, the brown category will dominate the market with the most revenue share. Brown seaweed extracts, like those made from kelp, wakame, and kombu species, are extensively utilized in a variety of sectors, including the food and beverage, cosmetics, and agricultural industries. They are prized for their substantial nutritional value, bioactive components, and useful qualities. Brown seaweed extracts are useful for a variety of applications because they are frequently high in polysaccharides, alginates, fucoidan, and other bioactive substances.
The liquid segment is dominating the largest market growth over the forecast period.
The market for seaweed extracts is segmented into liquid, powder, and flakes based on form. Due to its strong demand in the agricultural and pharmaceutical industries, the liquid segment is now dominating the market across these areas. The flakes industry will significantly expand as flakes are used in consumable products like snacks. It is used in powder form in turf grass, field crops, vegetable and flower gardens, and potting soil.
The agriculture segment is leading the largest market share during the forecast period.
The worldwide market for seaweed extracts is segmented based on application into food and beverage, agricultural, medicines, and nutraceuticals. Due to its use in horticulture, herbicides, and fertilizers, agriculture makes up a sizeable chunk of the overall market and is currently leading it with the biggest share over the projection period. Snacks eat a significant amount of food. These are used as thickening and gelling agents in the food industry. Due to its ability to help people lose weight, improve their digestion, and decrease their cholesterol levels, it is a powerful commercial diet product.
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Asia Pacific dominates the market with the largest market share during the forecast period.
Asia Pacific influences the market with the largest market share over the forecast period, due to its use in horticulture, herbicides, and fertilizers, Asia Pacific is dominating the considerable market expansion over the projection period; agriculture accounts for a sizeable share of the total. Snacks use up a lot of food. These are used in the food industry as thickening and gelling agents. Because it encourages weight loss, better digestion, and reduced cholesterol levels, it is a powerful commercial diet product.
North America is expected the second fastest-growing region during the forecast period.
North America, led by the US, has a substantial market share for seaweed extracts, due to ongoing research and development activities in organic and herbal products as well as the use of seaweed extracts in the food industry, North America, led by the US, has a substantial market share for seaweed extracts. Due to its application in decorative goods like shower tubs, the product's demand has grown.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Seaweed Extracts Market include Grow More Inc., Chase Organics and Ocean Harvest Technology, Alga-Net and AlgAran Seaweed Products Ireland, Kelpak, Algea the Arctic Company, Shigawake Organics Ltd., Unilever, Ocean Organics, Suboneyo Chemicals Pharmaceuticals (p) Limited, INDIGROW LTD., Saosis Biotech Private Limited, AJ Products Pty Ltd, Mycsa AG, North American Kelp, Yash Chemicals Ltd., Technaflora Plant Products Ltd., Aveeno Active Naturals, Arihant Bio Fertichem Pvt. Ltd., and others.
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Recent Development
In January 2023, UPL AgroSolutions Canada (UPL), a supplier of global sustainable agriculture solutions, launched its WAVE biostimulant in Canada after getting approval from the Canadian Food Inspection Agency. WAVE biostimulant stimulates crop nutrient uptake using a liquid seaweed extract, which improves plant vigor, growth, and general health.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Seaweed Extracts Market based on the below mentioned segments:
Global Seaweed Extracts Market, By Type
- Red
- Brown
- Green
Global Seaweed Extracts Market, By Form
- Liquid
- Powder
- Flakes
Global Seaweed Extracts Market, By Application
- Food & Beverage
- Agriculture
- Pharmaceuticals
- Nutraceuticals
Seaweed Extracts Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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