Seaweed Extracts Market Size [2022-2032] | Global industry growth, trends, share and forecast analysis

Seaweed Extracts Market: Introduction

According to a study conducted by Transparency Market Research, it has been found that seaweed is considered to be one of the main sources of nutrition and has various health benefits. Additionally, the growing pharmaceutical segment provides growth opportunities for seaweed producers as consumer preference for seaweed extracts as an ingredient increases.

East Asia holds the majority value share of over 25.4% of the global market seaweed extracts market. It is estimated at a value of US$ 432.6 Mn in 2022 and is expected 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 a potential bio-fertilizer in organic farming

Conventional food and drink products contain additives and preservatives that can harm the human body. So, with an increasing number of health conscious people, there is a hype for organic products across the world. Manufacturers have started using organic ingredients without any additives or preservatives. The market is therefore benefiting from the current organic trend, with an increased demand for seaweed extract as an additive in organic products. The demand for seaweed extracts from organic farming practices as a potential bio-fertilizer is also proving to be a positive factor for the market.

In addition, nowadays, much more chemical fertilizers are used to increase crop productivity, but these cause several damages to the soil ecology and its fertility, as well as to human health. Thus, agricultural practices are changing with organic farming. Bio-fertilizers are used to increase plant growth and development, and are also environmentally friendly. Seaweed extract is gaining popularity as an effective bio-fertilizer around the world, as it is known to promote plant growth and improve yield as well as improve stress tolerance in many plants.

Innovation in products and treatment techniques

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

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Manufacturers’ increased focus on sustainability

Food and beverage manufacturers are increasingly concerned about the sustainable production of their ingredients. For a long time, suppliers of seaweed extracts were not subject to the same degree of scrutiny as suppliers of other ingredients. Seaweed extract producers risk bad publicity and brand damage if their business is associated with unsustainable practices, such as unsafe working conditions and waste of resources (e.g. example, water). Additionally, carrageenan producers have a strong interest in developing a sustainable business, as they depend on human and natural resources for their future. Consumers around the world are demanding that companies take responsibility for the impact of their business on the people involved and on the environment.

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

Segmentation of the global seaweed extract market

Seaweed Extracts Market by Source

• red algae
• brown algae
• green algae

Seaweed Extracts Market by Form

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Seaweed Extracts Market by End Use

• Food and drinks
• Agricultural production
  • red algae
  • brown algae
  • green algae
• Animal feed additives
  • red algae
  • brown algae
  • green algae
• Medications
• Others

Seaweed Extracts Market by Region

• North America
• Latin America
• Europe
• South Asia and the Pacific
• East Asia
• Middle East and Africa

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