Seaweed Extracts Market: Introduction

According to a study conducted by Transparency Market Research, it was found that seaweeds are considered to be one of the highest sources of nutrition and serve various health benefits. Moreover, the growing pharmaceutical segment has been providing growth opportunities to seaweed producers as consumer preference for seaweed extracts as an ingredient is growing.

East Asia holds the majority value share of more than 25.4% of the global seaweed extracts market. It is estimated to be valued at US$ 432.6 Mn in 2022 and is forecast to grow at a CAGR of 5.8% to reach US$ 760.2 Mn by 2031 in the region.

Seaweed Extract as Potential Bio-fertilizer in Organic Farming

Conventional food & beverage products contain additives and preservatives, which are likely to harm the human body. Thus, with an increasing number of health-conscious people, there is a hype for organic products across the globe. Manufacturers have started using organic ingredients without any additives or preservatives. The market, thus, benefits from the ongoing organic trend, with increased demand for seaweed extract as an additive in organic products. The demand for seaweed extract from organic farming practices as a potential bio-fertilizer also proves to be a positive factor for the market.

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Moreover, nowadays, there is much usage of more chemical fertilizers to increase the productivity of crops but these cause several damages to the ecology of the soil and its fertility content, as well as are harmful to human health. Thus, agricultural practices are being modified with organic farming. Bio-fertilizers are used to increase plant growth and development, and are eco-friendly as well. Seaweed extract is gaining popularity as an efficient bio-fertilizer across the globe, as it is known to promote plant growth and improve yield as well as improve stress tolerance in many plants.

Innovation in Products and Processing Techniques

The seaweed extracts market is undergoing structural changes that will provide opportunities to process new possibilities and strategies. There is, however, lack of innovation and very few new products are being developed, whereby an increasing number of existing products are becoming commodities. R&D in seaweed production and extraction exists; however, the private sector is not well connected. Good R&D support from private companies for seaweed extracts can help to evaluate extraction processes and create innovative industrial processing of seaweed extracts.

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