The Seafood Extracts Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Seafood Extracts Market is estimated to be USD XX.XX billion in 2016 and predicted to rise to USD XX.XX billion by 2021 with a CAGR of X.XX%. The market is segmented 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) and by Sources (Fish, Crab, Lobster, Seaweed and Others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The major drivers of the Seafood Extracts market are the recent popularities of seafood extracts in the cosmetics industry and the pharmaceutical applications of the same. The rising health consciousness among consumers is yet another driver for the market growth. Other drivers include the increasing funding for research and development and increased demand for seafood products in supermarkets. As for the market restraints, the ecological concerns regarding the extraction of the same from the marine life is the main restraint.
The leading category in the Seafood Extracts market is the food industry. However, the recent interest in the cosmetics industry means it is set to be the fastest growing segment in the coming years.
The Seafood Extracts Market is dominated by North America in 2016 with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another promising region for the market is Latin America, which is expected to show high growth rates in coming years.
High investment from top players and increasing R&D spending are likely to provide ample opportunities to the industry players across regions. Key market players include 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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