Seaweed Extracts Market is predicted to reach a valuation of USD 6.9 billion by 2032

Seaweed Extract Market Size, Share,Analysis and Forecast 2032

KEY MARKET INSIGHTS

 Seaweed Extract Market size was worth around USD 2.4 billion in 2022 and is predicted to reach a valuation of USD 6.9 billion by 2032 at a CAGR of around 11.1%

 Seaweed Extract is widely used as a nutrient supplement in integrated crop nutritional programs, improving plant resistance and tolerance to environmental stressors.

 Seaweed extract, for purposes including fertilizer production, has the potential to improve environmental conditions in coastal habitats, especially concerning toxic algal blooms.

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Increasing Demand for Seaweed Extract Market Is a Foundation for Future Market Growth

KEY INDUSTRY DEVELOPMENTS:

 In December 2022: KRIBHCO launched an innovative and sustainable product, SIVARIKA, which is a seaweed bio-stimulant derived from red and brown algae. The SIVARIKA Seaweed functions as a metabolic bio enhancer and it fulfills the need of farmers and also uplifts their livelihood.

 In March 2022: Umaro Foods secured USD 3 million in funding, which supports the launch of an umami-rich, highly realistic plant-based bacon made with its proprietary red protein. This bacon contains extracts that are a functional replacement for heme, the red molecule which produces plant-based meat bleed.

KEY INDUSTRY PLAYERS

 ACURO ORGANICS LIMITED

 Agroniv

ALGAIA  ASL  DuPont

 Humates and Seaweeds Pvt Ltd

 Kelpak

 Merck KGaA  OCEAN HARVEST TECHNOLOGY Group plc

Suboneyo Chemicals Pharmaceuticals

By Source

Red Seaweed Green Seaweed Brown Seaweed

Liquid Powder Flakes By End-use

By Form

Food & Beverages

Agricultural Products

Animal Feed Additives

Pharmaceuticals

REGIONAL INSIGHTS

 North America is the Fastest Growing Market Owing to Increased Demand for Organic and Herbal Products

 North America is leading the global seaweed extract market due to strong demand from the food industry and ongoing research and development activities for organic and herbal products. The growing use of seaweed extract in cosmetics and shower gels is driving up product demand. Increased use of algae in agriculture, animal feed, and human food is expected to sustain the growth of the algae industry in the long term.

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