Global Seaweed Extracts Market is valued at approximately USD 2.12 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2024-2032. Seaweed extracts slurry is used in agriculture for several purposes owing to its beneficial properties, which drive the growth of the market in the agricultural sector. These extracts from seaweeds stimulate plant growth and improve yields in major crop plants such as carrots, cauliflower, wheat, lettuce, among others. As a result, these extracts help to stimulate root and shoot growth, which leads to increased overall plant growth and higher crop production.
The growing demand for natural ingredients is significantly impacting the market for seaweed extracts. Consumers are increasingly seeking products with natural and organic components due to heightened health awareness and a preference for cleaner labels. This trend is evident in the broader natural and organic products market, which is experiencing substantial growth. Moreover, the expansion in emerging markets and innovation in applications present various lucrative opportunities over the forecast years. However, the supply chain and harvesting issues and regulatory hurdles are challenging the market growth throughout the forecast period of 2024-2032.
The key regions considered for the Global Seaweed Extracts Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is a dominating region in the Global Seaweed Extracts Market in terms of revenue. The market growth in the region is being attributed largely to its extensive seaweed farming and consumption. Countries like China, Japan, and South Korea have long histories of using seaweed in culinary and traditional applications, making the region the largest producer and consumer of seaweed extracts. Whereas, the market in North America is anticipated to grow at the fastest rate over the forecast period fueled by increasing consumer awareness of the health benefits of seaweed, coupled with a rising demand for natural and organic ingredients in food and personal care products.
Major market players included in this report are:
Maine Coast Sea Vegetables, Inc.
Humate (Tianjin) International Limited
Suboneyo Chemicals Pharmaceuticals P Limited
Sushil Corporation
Kelp Products International
Changsha New-Nutri Agriculture & Technology Co., Ltd.
Technaflora Plant Products
North American Kelp
Tagrow Co., Ltd.
Ocean Rainforest, Inc.
Cargill, Incorporated
Alginate Industries Ltd.
DuPont de Nemours, Inc.
Kanegrade Ltd.
Gelymar S.A.
The detailed segments and sub-segment of the market are explained below:
By Source:
Red Seaweed
Brown Seaweed
Green Seaweed
By Form:
Liquid
Powder
Flakes
By Application:
Food and Beverages
Agriculture
Pharmaceuticals
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
