Asia Pacific Seafood Extracts Market By Applications (Food Industry, Cosmetics Industry, Pharmaceutical Industry, Agriculture Industry, Paper Industry And Others), By End Products (Anchovy Extract, Clam Extract, Codfish Extract, Crab Extract, Lobster Extract, Shrimp Extract, Taimi Extract, Katsuobushi Extract, Tangle Extract And Others), By Sources (Fish, Crab, Lobster, Seaweed And Others), And By Region - Asia Pacific Industry Analysis, Size, Share, Growth, Trends, And Forecasts 2024 to 2029

Updated On: January, 2024
ID: 4542
Pages: 145

Asia Pacific Seafood Extracts Market was worth USD XX.XX billion in 2020 and estimated to be growing at a CAGR of X.XX%, to reach USD XX.XX billion by 2026.

The variety of uses for seafood extracts include in cosmetic, food & paper, pharmaceutical and several other industries. The abundancy of nutrients in sea food makes it one of the healthy sources of food for humans. They aid in the prevention of several diseases in addition to providing balance to the diet as well as adding flavour to food. The extracts are available in a number of forms which include paste, powder, oil and others. Any form of marine life which is considered as food by humans comes under the scope of seafood. It prominently includes fish and shellfish. Extracts obtained from sea life animals such as fish, shellfish, crab or lobsters after they undergo a manufacturing process is known as seafood extracts.

The major factors affecting the Seafood Extracts market include the innovation of new products in the market, research and development in the market and increasing health consciousness of consumers. Increasing demand for supermarket stocks of seafood extracts is yet another driver for the market. Recent innovations in the cosmetic industry also requires the use of seafood extracts in their products driving the market growth even more. As for restraints of the market, the ecological concerns regarding extraction of substances from marine life is the only major hindrance.

Asia Pacific Seafood Extracts Market is broadly classified by Applications in Food Industry, Cosmetics Industry, Pharmaceutical Industry, Agriculture Industry, Paper Industry and Other industries, by End Products into Anchovy Extract, Clam Extract, Codfish Extract, Crab Extract, Lobster Extract, Shrimp Extract, Taimi Extract, Katsuobushi Extract, Tangle Extract and others and based on Sources into Fish, Crab, Lobster, Seaweed and Others. Based on geography, the Asia-Pacific market is divided into India, China, South Korea, Japan and Australia. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. In addition to having the highest growth rate, the region also has the third highest market share. The rapid growth of the region can be attributed to the developing stature of countries such as India and China.

The Seafood Extracts market is highly competitive with a large number of players. Key market players dominating the market with their products are Nikken Foods, Acadian Seaplants Ltd., MC Food Specialties Inc., Manidharma Biotech Private Limited, Agri Bio Care India, Kakusan Foods Co., Ltd., Suboneyo Chemicals Pharmaceuticals (P) Limited, Sar Agrochemicals & Fertilizers Pvt. Ltd., Sushil Corporation and Canada Oceanic.

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