Seaweed Extract - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Seaweed Extract Market is accounted for $2,606.01 million in 2019 and is expected to reach $5,465.48 million by 2027 growing at a CAGR of 9.7% during the forecast period. Some of the factors motivating for the growth of the market are rising consumer awareness about the benefits of seaweed extracts and increasing demand for seaweed extracts from the healthcare industry. However, lack of awareness among farmers, high cost of production, and stringent government regulations are hampering the growth of the market.
Seaweed extract fertilizers in the liquid and powder form are useful for generating organic nutrition sources in almost all types of plants. It is a macroalga that grows in the cold oceans globally. It has been used for millennium all over the world. However, it is predominantly been a prominent part of Asian food diets mainly in Japan, China, and Korea. The seaweed is good for mulch in the home garden, but due to lack of nutrients and various other components found on the algae, the extract is more helpful to fertility. Dried seaweed used mostly as an animal feed supplement and also as a fertilizer and soil conditioner. Seaweed extract is affluent in minerals and vitamins that help to decrease sensitivity along with maintaining skin’s natural stability. It is extracted by various manufacturing methods namely water extraction, alkaline extraction, ruptured cell suspensions, and cryo-micro-crushing. Seaweed extract performs as a plant expansion stimulants and their efficiency could be influenced by the species and production method. Seaweed extract has a calming marine botanical feature that diminishes skin irritation affected by the environment.
Based on the end-user, the cosmetics & personal care segment is going to have a lucrative growth during the forecast period due to its anti-inflammatory and anti-ageing properties coupled with improving the agriculture system globally. Expanded utilization of seaweed extracts, in powder structure in cosmetic products, for example, cleansers and creams are energizing the development of the seaweed extracts market.
By geography, Asia Pacific is expected to grow at a momentous market share during the forecast period owing to the increase in the agricultural and horticulture industry, expanding trade activities, and increasing consumer awareness regarding the benefits of seaweed.
Some of the key players profiled in the Seaweed Extract Market include Grow More Inc, Kelp Products International, Algea, the Arctic Company, Shigawake Organics Ltd, Ocean Organics, Mycsa AG, Humate International Limited, Technaflora Plant Products Ltd, Suboneyo Chemicals & Pharmaceuticals Limited, AlgAran Seaweed Products, Chase Organics, Tagrow Co. Ltd, Quingdao Nanshan Seaweed Co. Ltd, Aveeno Active Naturals, and West Coast Marine Bio-Processing Corp.
• Red Seaweed
• Brown Seaweed
• Green Seaweed
End Users Covered:
• Food & Beverages
• Dietary Supplements
• Healthcare & Life Sciences
• Agriculture & Horticulture
• Cosmetics & Personal Care
• Animal Feed
• Thickening Agents
• Human Food
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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