Seaweed Extracts Market Poised for 13.2 % Growth, Set to Hit $4.44 Billion by 2029

Get 15% off on all our 2025 Global Market Reports with code FY25SAVE - Offer valid till March 31st! What combination of drivers is leading to accelerated growth in the seaweed extracts market?
The growth of the seaweed extracts market is likely to be fueled by the increasing demand for biofuels. Biofuels, regarded as environmentally friendly substitutes to fossil fuels, are renewable energy sources derived from organic matter such as plants, algae, and animal waste. This spur in demand for biofuels is a result of government strategies urging the use of renewable fuel in order to minimize greenhouse gas emissions along with progressive technological developments making production more economical and sustainable. Seaweed extracts play a role in biofuels by supplying a sustainable and robust feedstock brimming with carbohydrates that can be effectively transformed into bioethanol and biogas, thereby facilitating renewable energy creation. For instance, The International Energy Agency (IEA), a France-based intergovernmental organization, stated in May 2022 that the biofuel demand is projected to surge by 38 billion liters from 2023 to 2028, marking nearly 30% increase compared to the prior five-year period. Furthermore, the biofuel demand is anticipated to rise by 23% reaching 200 billion liters by 2028. Hence, the escalating demand for biofuels is stimulating the growth of the seaweed extracts market.

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What is the projected compound annual growth rate (CAGR) of the seaweed extracts market from 2025 to 2034, and what factors influence it?
In recent years, the market size for seaweed extracts has experienced robust growth. The market is projected to expand from its $2.44 billion size in 2024 to $2.60 billion in 2025, at a steady compound annual growth rate (CAGR) of 6.7%. This growth during the historic period can be attributed to a surge in demand for natural and organic goods, heightened awareness about seaweed health benefits, increased investment in marine biotechnology, augmented use in the food and beverages sector, as well as an intensified focus on functional foods.

In the upcoming years, steady growth is anticipated in the seaweed extracts market with its value expected to reach $3.35 billion in 2029, increasing at a Compound Annual Growth Rate (CAGR) of 6.5%. The increase during the forecast period can be linked with the surging requirement for sustainable and eco-friendly components, elevated use of seaweed-infused products in the cosmetics and personal care industry, the upsurge in the tendency towards plant-based diets, heightened interest in plant-derived nutritional supplements, and escalating demand for biofuels. The key trends of the forecast period comprise of biotechnology integration, application of sustainable procedures, the invention of novel extraction technologies, product formulation innovations, and advancements in seaweed farming.

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How are the latest trends influencing the growth of the seaweed extracts market?
Key players in the seaweed extracts market are concentrating on creating unique products, such as those sourced from plants, in response to the increasing need for sustainable and environmentally respectful agricultural inputs. Plant-based solutions involve using plant matter to replace animal-based or artificial ingredients in sectors like agriculture, cosmetics, and food. To demonstrate, Cascadia Seaweed Corporation, a firm based in Canada that produces products derived from seaweed, teamed up with ReFeed Ltd., another Canadian nutrient recycling company, in June 2023. They introduced their first seaweed-sourced biostimulant to aid in agricultural yield and eco-conscious sustainability. This biostimulant, replete with bioactive compounds from sustainable seaweed farming, provides natural plant growth stimulation, better soil well-being, and heightened nutrient absorption. It's distinguishing feature is its ability to reduce dependency on synthetic fertilizers, thereby encouraging farming practices that respect the environment.

What are the major segments of the seaweed extracts market and their role in driving growth?
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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Which regions are key players in the growth of the seaweed extracts market?
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.

Who are the key firms paving the way for growth 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.

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What Is Covered In The Seaweed Extracts Global Market Report?

•Market Size Forecast: Examine the seaweed extracts market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the seaweed extracts market for a structured understanding.
•Key Players Overview: Analyze major players in the seaweed extracts market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the seaweed extracts market.
•Segment Contributions: Evaluate how different segments drive overall growth in the seaweed extracts market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the seaweed extracts market.
•Industry Challenges: Identify potential risks and obstacles affecting the seaweed extracts market.
•Competitive Landscape: Review strategic developments in the seaweed extracts market, including expansions, agreements, and new product launches.

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