The global seaweed extracts market is estimated to register growth at a CAGR of 5% during the forecast period of 2022 to 2032, according to a research report by Transparency Market Research (TMR).
Seaweeds are being increasingly utilized for different purposes, owing to their different benefits to human health as well as their antioxidants properties. Many companies operating in the food & beverages industry are utilizing seaweed extracts as natural preservatives and additives in order to cater to rising demand for products with natural ingredients. Moreover, increase in the use of seaweed extracts in the food industry as suspending agents, thickening and emulsifying agents, gelling agents, and stabilizers is leading to profitable prospects in the global seaweed extracts market, note analysts at TMR.
Many cosmetics and personal care products manufacturers around the world are incorporating seaweed extracts in their products, as the popularity of products with natural ingredients has increased in the recent years. Hence, the global seaweed extracts market is observing exceptional demand opportunities from the manufacturers of cosmetics and personal care products. Moreover, the market for seaweed extracts is prognosticated to gain the advantage of improving living standards of major global populace, rising awareness about availability of such products, and rapid urbanization in many parts of the world.
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Seaweeds are gaining traction across the European food industry, owing to growing awareness about their health benefits. This factor is fueling the sales growth in the Europe seaweed extracts market.
Seaweed Extracts Market: Key Findings
- Major players operating in the global seaweed extracts market are focusing on incorporation of technological advancements in their production activities. Companies are increasing their focus on the implementation of stringent product testing processes in order to ensure that the quality of their products are maintained. These efforts are showing positive impact on the overall growth of the global seaweed extracts market.
- Seaweed extracts are being utilized in various end-use industries such as agricultural products, food & beverage, personal care, pharmaceutical, and animal feed additives. This wide range of use explains why the global seaweed extracts market is prognosticated to be valued at more than US$ 2.7 Bn by 2032.
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Seaweed Extracts Market: Growth Boosters
- Surge in understanding among people on varied health benefits of consuming seaweeds is favoring the growth of the global seaweed extracts market
- Increase in trend of veganism is projected to impact positively on the growth of the seaweed extracts market
- Rise in use of skin whitening products by people from across the globe is expected to boost the demand for seaweed extracts in the cosmetic industry
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Seaweed Extracts Market: Competition Landscape
- Major companies operating in the global seaweed extracts market are focusing on strengthening their production capabilities in order to cater to the rising product demands
- Several enterprises in the market for seaweed extracts are investing heavily in R&Ds in order to develop innovative and high-quality products
Seaweed Extracts Market: Key Players
Some of the key players profiled in the report are:
- Annie Chun’s Inc
- Acadian Seaplants Limited
- Arthru Branwell & Co. Ltd.
- Algaia
- Cargill Incorporated
- Biolchim SPA
- CP Kelco
- Compañía Española de Algas Marinas S.A.
- Extractos Naturales Gelymar S.A.
- DuPont Inc.
- Groupe Roullier
- Fuerst Day Lawson Limited
- Kelpak
- Humate International Limited
- Marinalg International Irish Seaweed
- Maine Coast Sea Vegetables
- mingyue Seaweed Group
- Mara Seaweed
- Ocean Rainforest
- Ocean Harvest Technology Limited
- W Hydrocolloids, Inc.
- Valagro
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Seaweed Extracts Market Segmentation
Source
- Red Seaweed
- Brown Seaweed
- Green Seaweed
Form
- Liquid
- Powder
- Flakes
End Use
- Food & Beverages
- Agricultural Products
- Animal Feed Additives
- Pharmaceuticals
- Others
Region
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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SOURCE Transparency Market Research