The Business Research Company’s report on the Seaweed Extracts Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the seaweed extracts industry?
Rising demand for biofuels is expected to propel the growth of the seaweed extracts market going forward. Biofuels are renewable energy sources produced from organic materials like plants, algae, or animal waste, serving as eco-friendly alternatives to fossil fuels. The rising demand for biofuels is driven by government policies mandating renewable fuel use to reduce greenhouse gas emissions and by technological advancements that have made production more cost-effective and sustainable. Seaweed extracts contribute to biofuels by providing a sustainable and high-yield feedstock rich in carbohydrates, which can be efficiently converted into bioethanol and biogas, supporting renewable energy production. For instance, in May 2022, according to The International Energy Agency (IEA), a France-based intergovernmental organization, the demand for biofuel is expected to rise by 38 billion liters between 2023 and 2028, which is almost 30% more than it was during the preceding five years. The demand for biofuel is predicted to increase by 23% to 200 billion liters by 2028. Therefore, rising demand for biofuels is driving the growth of the seaweed extracts market.
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What is the estimated market size of the seaweed extracts sector by 2029, based on current forecasts?
The seaweed extracts market size has grown strongly in recent years. It will grow from $2.44 billion in 2024 to $2.60 billion in 2025 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to increased demand for natural and organic products, increased awareness of the health benefits of seaweed, increased investment in marine biotechnology, increased use in food and beverages, and increased focus on functional foods.
The seaweed extracts market size is expected to see strong growth in the next few years. It will grow to $3.35 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing demand for sustainable and eco-friendly ingredients, rising adoption of seaweed-based products in cosmetics and personal care, rising trend towards plant-based diets, growing interest in plant-based nutritional supplements, and rising demand for biofuels. Major trends in the forecast period include integration with biotechnology, integration of sustainable practices, development of new extraction technologies, innovation in product formulations, and innovation in seaweed cultivation.
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Who are the top players in the seaweed extracts market?
Major companies operating in the seaweed extracts market are Cargill Inc., DuPont de Nemours Inc., FMC Corporation, CP Kelco, Acadian Seaplants Limited, Laford Agrotech Limited, Compania Espanola de Algas Marinas S.A, Gelymar S.A., Seasol International Pty Ltd., Grow More Inc., Beijing Leili Marine Bioindustry Inc., Indigrow Ltd., Suboneyo Chemicals Pharmaceuticals (P) Limited, TBK Manufacturing Corporation, Kimica Corporation, Mycsa AG, Aquatic Chemicals, Atharv Chemicals and Fertilizers Pvt. Ltd., Humate (Tianjin) International Limited, Ocean organics, Tagrow Co. Ltd., Technaflora Plant Products Ltd., Yash Chemicals Ltd., Cascadia Seaweed Corp.
What are the major trends in the seaweed extracts market?
Major companies operating in the seaweed extracts market are focusing on developing innovative products, such as plant-based solutions, to cater to the growing demand for sustainable and eco-friendly agricultural inputs. Plant-based solutions refer to products made from plant materials, offering sustainable alternatives to animal-derived or synthetic ingredients in industries like agriculture, cosmetics, and food. For instance, in June 2023, Cascadia Seaweed Corporation, a Canada-based manufacturer of seaweed-derived products, partnered with ReFeed Ltd., a Canada-based nutrient upcycle company, and launched its first seaweed-based biostimulant to support agricultural productivity and environmental sustainability. This biostimulant is enriched with bioactive compounds derived from sustainably farmed seaweed, offering natural plant growth stimulation, improved soil health, and enhanced nutrient uptake. The primary feature is its capacity to minimize reliance on synthetic fertilizers, promoting environmentally friendly farming practices.
Which geography holds the highest seaweed extracts market share?
Europe was the largest region in the seaweed extracts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the seaweed extracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the seaweed extracts market?
The seaweed extracts market covered in this report is segmented –
1) By Type: Red, Brown, Green
2) By Form: Liquid, Powder, Flakes
3) By Application: Food And Beverages, Agriculture, Pharmaceuticals, Other Applications
Subsegments:
1) By Red Seaweed Extracts: Agar, Carrageenan, Polysaccharides
2) By Brown Seaweed Extracts: Alginates, Fucoidan, Laminarin
3) By Green Seaweed Extracts: Chlorophyll, Ulvan, Proteins And Peptides
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What defines the structure and scope of the seaweed extracts market?
Seaweed extracts refer to bioactive compounds derived from various species of seaweed, typically through processes like solvent extraction, hydrolysis, or fermentation. These extracts are rich in nutrients such as polysaccharides, proteins, vitamins, minerals, and antioxidants. They are commonly used in agriculture as biostimulants to enhance plant growth, in food and beverages as natural additives, and in cosmetics for their skin-nourishing properties.
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