"BCC Research Study Projects 3.6% CAGR, with Market Growth from $17.5 Billion in 2024 to $20.9 Billion by 2029, Driven by Rising Demand for Natural Ingredients Across Food, Agriculture, and Cosmetics"
BOSTON, Oct. 25, 2024 /PRNewswire/ -- "According to the latest BCC Research study on "Seaweed Extract: Global Markets" is expected to grow from $17.5 billion in 2024 and is projected to reach $20.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 3.6% during the forecast period of 2024 to 2029."
The report comprehensively analyzes the global seaweed extract market, using 2023 as a benchmark year and offering projections and CAGR estimates from 2024 to 2029. It employs a supply-side approach to estimate market size and examines key technological advances, economic factors, and business considerations. The report highlights market forces and explores the diverse applications of seaweed extract in industries like agriculture, food and beverages, cosmetics, and pharmaceuticals. Additionally, it profiles major players in the dried and processed seaweed market and analyzes regional dynamics and factors driving market growth.
This report is particularly relevant now due to the growing recognition of seaweed farming as an environmentally friendly and sustainable practice, which aligns with the global shift towards sustainability and eco-friendly production methods. The health benefits of seaweed extracts, including their rich nutrient profile and potential therapeutic properties, are gaining attention, increasing their appeal in the health and wellness sector. Additionally, the rising consumer preference for natural and organic products is driving demand for seaweed extracts across various industries, including food and beverages, cosmetics, and agriculture, making it a timely focus for understanding market dynamics and growth opportunities.
The following factors drive the global market for seaweed extract:
Expanding Aquaculture Industry: The aquaculture industry, which involves the farming of aquatic organisms such as fish, crustaceans, and seaweed, is growing rapidly. Seaweed cultivation is a significant part of this industry, providing a sustainable source of raw material for seaweed extract. The growth of aquaculture ensures a steady supply of seaweed, which in turn supports the seaweed extract market.
Increase in Food and Beverage Applications: Seaweed extract is becoming increasingly popular in the food and beverage industry due to its nutritional benefits and versatility. Various products use it as a natural thickener, stabilizer, and flavor enhancer. Additionally, the rising vegan population and the trend toward plant-based diets in Western countries drive the demand for seaweed as an alternative protein source. Seaweed snacks and other seaweed-based food products are gaining popularity, further boosting the market.
Technological Advances in Extraction and Processing: Technological advancements have significantly improved the methods of extracting and processing seaweed. These innovations have made the extraction process more efficient, cost-effective, and environmentally friendly. Improved extraction techniques ensure higher yields and better quality of seaweed extract, making it more appealing for various applications. Technological advancements also enable the development of new products and applications, driving further growth in the market.
Request a sample copy of the global market for seaweed extract report.
Report Synopsis
Report Metrics | Details |
Base year considered | 2023 |
Forecast Period considered | 2024-2029 |
Base year market size | $16.5 billion |
Market size forecast | $20.9 billion |
Growth rate | CAGR of 3.6% for the forecast period of 2024-2029 |
Segment Covered | Collection, Type, Form, Application, and Region |
Regions covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Countries covered | Chile, Peru, Canada, Mexico, Norway, France, Ireland, Russian Federation, Iceland China, Indonesia, Republic of Korea, Philippines, Australia, United Republic of Tanzania, Morocco, South Africa, and Madagascar |
Key Market Drivers | • Expanding aquaculture industry. • Increase in food and beverage applications. • Technological advances in extraction and processing. |
Key Interesting Facts about the global market for seaweed extract:
Versatile Applications: Seaweed extracts are used in food, cosmetics, pharmaceuticals, and agriculture due to their rich nutritional content and functional properties.
Sustainability Potential: Seaweeds are being explored for carbon sequestration and as a source of eco-friendly bioplastics, showcasing their environmental benefits.
The global market for seaweed extract report includes in-depth data and analysis addressing the following important queries:
- What is the projected growth rate and market size of the seaweed extract market?
- The estimated market size of the seaweed extract market will be $20.9 billion by 2029, with a CAGR of 3.6%.
- What are the key factors driving the growth of the seaweed extract market?
- Expanding Aquaculture Industry.
- Expanding Applications in the Food and Beverage Industry.
- Technological Advancements in Extraction and Processing.
- What segments are covered in the market?
- The seaweed extract market is segmented based on collection, form, type of seaweed, application, and region. Segmentation is based on the collection; the market is segmented into wild harvest and aquaculture. The market is segmented based on form into flakes, powder, and liquid. Based on the type of seaweed, the seaweed extract market is segmented into brown seaweeds, red seaweeds, and green seaweeds. Based on application, the seaweed extract market is segmented into food & beverage, agriculture, animal feed additives, pharmaceutical, cosmetics & personal care, and other applications. Regional estimates and forecasts comprise the Americas, Europe, Asia-Pacific, and the Rest of the World.
- By type, which segment will dominate the market by 2029?
- The brown seaweed segment will continue to dominate the market by the end of 2029.
- Which region has the highest market share?
- The Asia-Pacific region led commercial seaweed production and consumption, accounting for more than 95% of global consumption and revenue. This growth is mainly led by China and Japan, owing to increases in domestic consumption.
Some of the Key Market Players Are:
- ACADIAN SEAPLANTS LTD.
- ARTHUR BRANWELL & CO. LTD.
- CARGILL INC.
- CEAMSA
- DUPONT
- GELYMAR
- GROUPE ROULLIER
- J.M. HUBER CORP.
- KELPAK
- OCEAN HARVEST TECHNOLOGY GROUP PLC
- OCEAN RAINFOREST
- QINGDAO MINGYUE SEAWEED GROUP CO. LTD.
- X-HUMATE (TIANJIN) INTERNATIONAL LTD.
Browse More Related Reports
Global Algae and Seaweed Protein Market: This report estimates and forecasts the worldwide algae and seaweed protein market, focusing on microalgae and seaweed/macroalgae segments. It examines applications such as food and beverages, animal feed, and dietary supplements, projecting market growth from 2023 to 2028 in value (U.S. $ millions), based on 2022 as a benchmark year. Regional analyses highlight key players and market dynamics across various regions and countries. The report concludes with an in-depth look at the competitive landscape, featuring profiles of major vendors shaping the market's trajectory.
Algae Biofuel: Global Markets: This report provides comprehensive estimates and forecasts for the global algae biofuel market from 2022 to 2027, offering in-depth analysis by region, country, and application. It covers market dynamics, including drivers, restraints, opportunities, and challenges, and examines the impact of COVID-19 and the Russia-Ukraine war on market growth. The report features detailed profiles of key players and a thorough assessment of current trends, production capacities, and future expansion plans. Despite a challenging economic outlook, the report identifies growth opportunities in emerging markets such as India, Malaysia, and Indonesia, which are attracting significant investments and are expected to drive increased consumer spending in the algae biofuel sector.
Directly purchase a copy of the report with BCC Research.
For further information or to make a purchase, please get in touch with info@bccresearch.com.
About BCC Research
BCC Research provides objective, unbiased measurement, and assessment of market opportunities with detailed market research reports. Our experienced industry analysts' goal is to help you make informed business decisions, free of noise and hype.
Contact Us
Corporate HQ: 50 Milk St. Ste 16, Boston, MA 02109, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.
Logo: https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/seaweed-extract-market-forecasted-to-reach-20-9-billion-by-2029--302287274.html
