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Seaweed Extract Market Growth Analysis By 2032

Seaweed Extracts Market: Introduction

According to a study conducted by Transparency Market Research, it was found that seaweeds are considered to be one of the highest sources of nutrition and serve various health benefits. Moreover, the growing pharmaceutical segment has been providing growth opportunities to seaweed producers as consumer preference for seaweed extracts as an ingredient is growing.

East Asia holds the majority value share of more than 25.4% of the global seaweed extracts market. It is estimated to be valued at US$ 432.6 Mn in 2022 and is forecast to grow at a CAGR of 5.8% to reach US$ 760.2 Mn by 2031 in the region.

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Seaweed Extract as Potential Bio-fertilizer in Organic Farming

Conventional food & beverage products contain additives and preservatives, which are likely to harm the human body. Thus, with an increasing number of health-conscious people, there is a hype for organic products across the globe. Manufacturers have started using organic ingredients without any additives or preservatives. The market, thus, benefits from the ongoing organic trend, with increased demand for seaweed extract as an additive in organic products. The demand for seaweed extract from organic farming practices as a potential bio-fertilizer also proves to be a positive factor for the market.

Moreover, nowadays, there is much usage of more chemical fertilizers to increase the productivity of crops but these cause several damages to the ecology of the soil and its fertility content, as well as are harmful to human health. Thus, agricultural practices are being modified with organic farming. Bio-fertilizers are used to increase plant growth and development, and are eco-friendly as well. Seaweed extract is gaining popularity as an efficient bio-fertilizer across the globe, as it is known to promote plant growth and improve yield as well as improve stress tolerance in many plants.

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Innovation in Products and Processing Techniques

The seaweed extracts market is undergoing structural changes that will provide opportunities to process new possibilities and strategies. There is, however, lack of innovation and very few new products are being developed, whereby an increasing number of existing products are becoming commodities. R&D in seaweed production and extraction exists; however, the private sector is not well connected. Good R&D support from private companies for seaweed extracts can help to evaluate extraction processes and create innovative industrial processing of seaweed extracts.

Increased Focus of Manufacturers on Sustainability

Food & beverage manufacturers are becoming more concerned about the sustainable production of their ingredients. For a long time, suppliers of seaweed extracts were not subjected to the same amount of scrutiny as suppliers of other ingredients. Seaweed extract producers risk bad publicity and subsequent brand damage, if their company is associated with unsustainable practices, such as unsafe working conditions and waste of resources (e.g. water). Moreover, carrageenan producers have a strong interest in the development of a sustainable business, as they rely on human and natural resources for their future. Consumers across the globe demand that companies take responsibility for the impact of their business on the people involved and on the environment.

  • Seaweed extract manufacturers in Europe are increasingly becoming aware of the importance of sustainable business practices at their own company, but also in their supply chain

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Global Seaweed Extracts Market Segmentation

Seaweed Extracts Market by Source

  • Red Seaweed
  • Brown Seaweed
  • Green Seaweed

Seaweed Extracts Market by Form

  • Liquid
  • Powder
  • Flakes

Seaweed Extracts Market by End Use

  • Food & Beverages
  • Agricultural Products
    • Red Seaweed
    • Brown Seaweed
    • Green Seaweed
  • Animal Feed Additives
    • Red Seaweed
    • Brown Seaweed
    • Green Seaweed
  • Pharmaceuticals
  • Others

Seaweed Extracts Market by Region

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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Rohit Bhisey
Transparency Market Research Inc.
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Website: https://www.transparencymarketresearch.com

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