Seaweed Extracts Market

Seaweed Extract Market Value & Growth Rate:

The Global Seaweed Extract Market was worth US$ 4 billion in 2022 and is anticipated to reach a valuation of US$ 4.5 billion by 2028 and is predicted to register a CAGR of 5.9% during 2023-2028.

Seaweed Extract Market Scenario:

Seaweed is a type of macroalgae that thrives in chilly oceans all around the world. It has been used for centuries across the world for the multitude of benefits that it offers, but it has a special place in Asian cuisine, mostly in Japanese, Chinese, and Korean. The seaweed is helpful for mulch in the home garden, but the extract is more favourable to fertility due to the lack of nutrients and other components found on the algae. Dried seaweed is utilized as a fertilizer and soil conditioner, as well as an animal feed ingredient. Seaweed extract is high in vitamins and minerals, which relax, smoothen, and reduce irritation while also preserving skin's natural stability and pH. The efficiency of seaweed extract as a plant growth stimulant is regulated by the species and potential mechanism. Seaweed extract offers a calming marine botanical characteristic that relieves environmental skin irritation. The Seaweed Extract Market size is anticipated to increase due to its use in the food and beverage, agriculture, cosmetics, and pharmaceutical industries, it is anticipated to have rapid expansion. Its inclusion in fertilizers boosts crop production while lowering costs. It boosts the crop's natural defenses against pests including red spider mites and aphids.

Seaweed Extract Market Growth:

With the increased concern towards health and wellbeing, consumers are switching to a healthier lifestyle. These are expected to fuel the Seaweed extract market growth.

Seaweed Extract Market Drivers:

Because seaweed extracts include a high level of alginate, which aids in weight loss, increased use in the food and pharmaceutical industries will drive market expansion. Furthermore, its use in the production of biofuels, biomass, and wastewater management has boosted product demand. These are utilized as gelling agent in cosmetic goods such as creams, soaps, and shampoos. Seaweed extracts are a collection of essential mixtures extracted by alkaline abstraction from red, green, and brown algae. Marine algae are multicellular, macroscopic, and found in oceans and seas. Their growth is dependent on the presence of seawater and adequate sunlight. Agar, alginate, and carrageenan are hydrocolloids and gelatinous substances produced from the product. Because of the existence of phycocolloid, oligose, mannitol, polyphenol, cytokinin, lignin, and betaine, they are mostly employed in agricultural operations as an ingredient for fertilisers and biostimulants to increase germination, root development, leaf quality, and pathogen resistance. It is a good source of calcium, iron, vitamin K, and omega-3 fatty acids, which enhances good HDL cholesterol while lowers bad LDL cholesterol, improving overall heart health. These factors are anticipated to propel the global seaweed extract market growth.

Seaweed Extract Market Restraints:

The lack of information among farmers about how to produce seaweed extracts from plants is a major stumbling block for the market. Its collection could have an adverse effect on the marine and coastal ecosystems. Wild seaweeds have high levels of arsenic and mercury, which can be dangerous if swallowed. The intake of a rotten product contains hydrogen sulphide, which can induce diarrhea, vomiting, and hydrogen sulfide poisoning. Such considerations may limit the demand for seaweed extracts.

Recent Developments in the Global Seaweed Extract Market:

In April 2022, A London based startup called Brilliant Planet raised USD$ 26.7 million to fund their idea of removing carbon and tackle global warming by constructing open air outdoor ponds of algae.

Seaweed Extract Market Segmentation: 

By Type:

• Liquid

• Powder

• Flakes

• Others

The Market has been divided by type into, Liquid, Powder, Flakes and Others. The one which took the largest Seaweed Extract Market share was the Liquid. This dominance was observed Because of its great demand in agriculture and the pharmaceutical industries, liquid has a significant market share. Because they are utilised in edible products like as snacks, the flakes segment is expected to increase significantly. It's utilised in potting soil, field crops, vegetable and flower gardens, and turf grass in powder form. In agricultural-based countries like India, these are in high demand. It is because of these reasons that we see liquid seaweed extract taking the bigger Market share.

By Form:

• Green

• Brown

• Red

The Market has been divided by form into, Green, Brown and Red. In this segment, the one which took the larger Market share in terms of form was red because of the rising need for carrageenan and algae, the red kind has a higher proportion in the food business. Because of its ease of availability, brown type is predicted to grow in popularity in the animal feed and fertilizer industries. Furthermore, rising population and restricted availability of fertile land have elevated fertilizer use to boost output, which will drive the seaweed extracts market. It is because of these reasons that we see red form taking the bigger Seaweed Extract Market size. This is the Seaweed Extract Market trends we see with regards to the form.

By Application:

• Food and Beverages

• Cosmetics and Personal Care

• Healthcare

• Agriculture & Horticulture

• Others

The Market has been divided by application into, Food and Beverages, Cosmetics and Personal Care, Healthcare, Agriculture & Horticulture and Others. In this segment, the one which took the larger Market share in terms of application was Agriculture and Horticulture contributes significantly because of horticulture, pesticides, and fertilisers. Food contributes significantly to snacking. In the food sector, they are employed as thickening and gelling agents. It aids in digestion, cholesterol reduction, and weight loss, making it a successful commercial dietary item. It is because of these reasons that we see agriculture application taking the bigger Seaweed Extract Market share.

Seaweed Extract Market Regional Analysis: 

The Global Seaweed Extract Market Report includes the segmentation of Regions:

• North America

1. The U.S.

2. Canada

3. Mexico

With its use in the food industry and continued research and development operations in organic and herbal goods, North America, led by the United States, has a significant proportion of the seaweed extracts market. Shower baths have boosted product demand due to their application in cosmetic items. During the evaluation period, these figures are predicted to increase at a steady rate, in the North American market., the Seaweed Extract Market growth is expected to grow at a steady X.X% during the forecasted period

• Europe

1. The U.K.

2. France

3. Germany

4. Netherlands

5. Russia

6. Italy

Because of the developing beauty industry, research and development activities, and increased demand for organic products, the European area is expected to have significant growth in the worldwide seaweed extract market throughout the forecast period. During the evaluation period, these figures are predicted to increase at a steady rate in the European market., the Seaweed Extract Market growth is expected to grow at a steady X.X% during the forecasted period

• Asia Pacific

1. India

2. China

3. Japan

Due to an increase in the agricultural and horticulture industry, rising trade operations, and growing consumer awareness about the benefits of seaweed, Asia-Pacific is predicted to be the leading market in the worldwide seaweed extract market, followed by Europe. Because of its application in agriculture and horticulture, Asia Pacific dominates the seaweed extracts industry. Agriculture-based economies, such as India's, enhance product consumption. It is used to increase the productivity of vegetables, fruits, and flower crops. It boosts the body's internal resistance.

During the evaluation period, these figures are predicted to increase at a steady rate in the Asia Pacific market., the Seaweed Extract Market growth is expected to grow at a steady X.X% during the forecasted period

• MEA

1. South Africa

2. UAE

3. Saudi Arabia

Due to the increasing presence of important players and the expanding use of seaweed in the region, the global market in MEA is predicted to rise at a substantial rate. Growing knowledge of a product's positive features in the medical sector has resulted in significant growth across the Middle East and Africa. During the evaluation period, these figures are predicted to increase at a steady rate in the MEA market., the Seaweed Extract Market growth is expected to grow at a steady X.X% during the forecasted period

Global Seaweed Extract Market Key Players:

1. Arihant Bio Fertichem

2. Aveeno Active Naturals

3. AJ Products

4. Saosis Biotech

5. Indigrow

6. Ocean Harvest

7. Chase Organics

8. Alganet

9. Mycsa AG

10. Kelpak