Global Seaweed Extracts Market Insights Forecasts to 2032

• The Global Seaweed Extracts Market Size was valued at USD 1.7 Billion in 2022.
• The Market is growing at a CAGR of 5.0% from 2022 to 2032.
• The Worldwide Seaweed Extracts Market size is expected to reach USD 2.7 Billion by 2032.
• North America is expected to grow the fastest during the forecast period.

 

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The Global Seaweed Extracts Market Size is expected to reach USD 2.7 Billion by 2032, at a CAGR of 5.0% during the forecast period 2022 to 2032.

 

Market Overview

Macro algae, which thrive in the world's chilly waters, are the source of seaweed extracts. Red algae (Rhodophyta), brown algae (Phaeophyceae), and green algae (Chlorophyta) are the primary macro algae from which seaweed extracts are obtained. Seaweed that was intended for human food was initially taken from the ocean or the shoreline. In China, Japan, and Korea, it has been a staple of the cuisine. The ones that are eaten are locally grown and quickly devoured. Seaweed was identified as a desirable food and developed into a commercial commodity due to its ability to be dried, maintained in its shape for a longer period, and transported easily. Industry growth is anticipated to be aided by rising product demand from a variety of industries, particularly the agriculture sector. With less expense, it increases agricultural production when used in fertilizers. It strengthens the crop's natural defenses, enabling it to fend off pests like aphids and red spider mites.

 

Report Coverage

This research report categorizes the global seaweed extracts market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global seaweed extracts market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global seaweed extracts market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.

 

 

Driving Factors

The market for seaweed extracts has expanded significantly in recent years as a result of the development of creative uses for seaweed extracts in the production of biofuels like bio-butanol, a substitute for diesel. Because of their high carbohydrate content, seaweeds are regarded as a suitable source for the generation of bioethanol and biogas. Vitamins and minerals found in abundance in seaweed extract aid to soften, soothing, and decreasing irritation while also preserving the skin's natural stability. A calming marine botanical component in seaweed extract relieves environmental-related skin irritation. Due to the seaweed extract market's tremendous potential and consistent expansion, it has grown more competitive and price-sensitive. Also, as seaweed extracts include a large quantity of alginate, which aids in weight reduction, rising snack food consumption and the pharmaceutical industry will fuel market expansion. Additionally, the production of fertilizers, insecticides, and animal feed uses seaweed extracts, which has increased their demand.

 

Restraining Factors

The difficult extraction method is the main barrier to the worldwide market for seaweed extracts. The market for seaweed extracts is also being hampered by the need for clean-label goods. Participants in the seaweed extract industry have been required to go through several steps to obtain clearance from authorities due to strict regulatory restrictions from governments and ongoing consumer scrutiny for health reasons.

 

Market Segmentation

• In 2022, the brown segment is influencing the market with the largest market share during the forecast period.

Based on type, the global seaweed extracts market is segmented into red, brown, & green. Among these segments, the brown segment is dominating the market with the largest revenue share during the forecast period. Brown seaweed extracts, such as those derived from species like kelp, wakame, and kombu, are widely used in various industries, including food and beverages, cosmetics, and agriculture. They are valued for their high nutritional content, bioactive compounds, and functional properties. Brown seaweed extracts are often rich in polysaccharides, alginates, fucoidan, and other bioactive compounds, which make them desirable for multiple applications.

 

• In 2022, the liquid segment is dominating the largest market growth over the forecast period.

On the basis of form, the global seaweed extracts market is classified into liquid, powder, & flakes. Throughout these segments, the liquid segment is dominating the market, due to its high demand in the pharmaceutical and agricultural sectors. As flakes are employed in consumable goods like snacks, the flakes market will experience considerable expansion. It is utilized in potting soil, field crops, vegetable and flower gardens, and turf grass in powder form.

 

• In 2022, the agriculture segment is leading the largest market share during the forecast period.

Based on the application, the global seaweed extracts market is divided into food & beverage, agriculture, pharmaceuticals, and nutraceuticals. Among these segments, the agriculture segment is dominating the market with the largest share during the forecast period, due to its usage in horticulture, herbicides, and fertilizers, agriculture accounts for a sizable portion of the total. Snacks consume food in considerable quantities. These are employed in the food business as thickening and gelling agents. It is a potent commercial dietary product because it promotes weight reduction, improved digestion, and lowered cholesterol levels.

 

Regional Segment Analysis of the seaweed extracts market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific dominates the market with the largest market share during the forecast period

 

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Asia Pacific is dominating the significant market growth during the forecast period due to its usage in horticulture, herbicides, and fertilizers, agriculture accounts for a sizable portion of the total. Snacks consume food in considerable quantities. These are employed in the food business as thickening and gelling agents. It is a potent commercial dietary product because it promotes weight reduction, improved digestion, and lowered cholesterol levels. Also, the use of the product rises in nations with agricultural economies like India. It is used for crops that provide a better production of fruits, vegetables, and flowers. It strengthens plants' natural defenses against pests.

 

North America is expected the second fastest-growing region during the forecast period

North America, led by the US, has a sizable market share for seaweed extracts, due to continued research and development efforts in organic and herbal goods as well as the usage of seaweed extracts in the food sector. The demand for the product has increased as a result of its use in cosmetic items like shower tubs.

 

Competitive Analysis

The report offers the appropriate analysis of the key organizations/companies involved within the global seaweed extracts 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.

 

List of Key Companies

• 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 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.

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Development

• In February 2021, to compete with Accenture's smooth and creamy dairy texture, Cargill introduced red seaweed powder. The natural components are preserved since the product is created without chemical alteration. The seaweed extract industry's potential for expansion has now been expanded thanks to this permission.

 

• In January 2023, after receiving permission from the Canadian Food Inspection Agency, UPL AgroSolutions Canada (UPL), a provider of worldwide sustainable agricultural solutions, introduced its WAVE biostimulant in Canada. WAVE biostimulant uses a liquid seaweed extract to stimulate crop nutrient absorption, which enhances 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