Global Seaweed Extracts Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Seaweed Extracts Market: Overview
“The global Seaweed Extracts Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Seaweed which is also called as microalgae. It is a group of the species belonging to marine plants and algae that grows within the ocean, lakes, rivers, and other related water bodies. Seaweed extracts are obtained through removing water content from seaweed plants, in order to extend their shelf life
Global Seaweed Extracts Market: Dynamics
Increasing awareness regarding health benefits by consumption or utilization of seaweed is one of the key factor expected to drive the global market growth. In addition, seaweed is a rich source of nutrients and has numerous medicinal properties and is used in multiple food products. Furthermore, these extracts consist of various properties including antioxidant, anti-aging, skin brightening, and soothing which will surge the demand for seaweed extracts among personal care and cosmetic products manufacturing companies.
Increasing demand for organic food products along with clean label food items resulted in utilization of seaweed as a natural fertilizer in the agricultural industry. The aforementioned are additional factors projected to support the revenue growth of the global market over the forecast period.
However, some people may face an allergic reaction due to the utilization of seaweed food products and cosmetics. This is a major factor expected to hamper the global market growth over the forecast period.
Increasing R&D activities by manufacturers in order to extend product portfolio and launch of new products, strategic merger and acquisitions are currently major trend observed in the target market.
Global Seaweed Extracts Market: Segmental Analysis
Among the forms segments, the liquid segment is projected to account for the significant revenue shares of the global market, which is attributed to increasing application of liquid seaweed as a natural fertilizer for stimulating growth of the plants.
Among the application segments, the food and beverages segment is expected to register significant growth over the forecast period. This can be attributed to the increasing consumption of cross-cultural cuisines globally.
Global Seaweed Extracts Market: Regional Analysis
Seaweed extracts market in Asia-Pacific is expected to account for the significant revenue shares of the target market, owing to the availability of the different species of seaweed and large-scale agricultural operations. In addition, countries such as Indonesia, Japan, and China are some of the largest suppliers of commercial seaweed, which is expected to support the revenue growth of the target market in the region. North America is expected to register significant growth over the forecast period. This can be attributed to increasing awareness regarding benefits offered by the seaweed extracts such as vitamin and mineral contents.
Global Seaweed Extracts Market Segmentation:
Segmentation by Forms:
Segmentation by Application:
- Food & Beverages
- Dietary Supplements
- Healthcare & Life Sciences
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Grow More Inc.
- Algea, the Arctic Company (Norway)
- Shigawake Organics Ltd. (Canada)
- Ocean Organics, Natural and Organic Fertilizers (US)
- Mycsa AG (US)
- Humate (Tianjin) International Limited (China)
- Technaflora Plant Products Ltd (China)
- Suboneyo Chemicals & Pharmaceuticals P Limited (India)
- AlgAran Seaweed Products (Ireland)
- Chase Organics (UK)
- Tagrow Co. Ltd. (China)
- Quingdao Nanshan Seaweed Co. Ltd. (China)
- Aveeno Active Naturals (US)
- West Coast Marine Bio-Processing Corp. (Canada)
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