Seaweed are marine algae that are simple plants which dwells in saltwater including red, brown and green algae. Seaweed extracts is the collection of essential mixtures which is extracted from different types of algae such as red algae, brown algae and green algae. Seaweed extracts are the substances containing desirable properties that is extracted from various types of seaweeds that is used in various industries such as agriculture, horticulture, pharmaceuticals, cosmetics and others. Seaweed extracts are also used in diet pills. Alginate, agar, carrageenan and gelatinous substances are some of the products which are obtained from seaweed extracts. Seaweed extracts are type of products which are mostly used in plant cultivation.
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Seaweed extracts have attained broader uses than seaweed and seaweed meal. Seaweed extracts are obtained by alkaline extraction of seaweed and substances such as fine particles that are not dissolved are removed by filtration. Seaweed extracts acts as bio-stimulants as a result of presence of plant hormones.
Global Seaweed Extracts: Market Segmentation
The global seaweed extracts market is segmented on the basis of form type, type, application and region. The seaweed extracts market is segmented on the basis of form type mainly into liquid, powder and flakes. The seaweed extracts is also segmented into type such as brown, green and red seaweed extract.
The seaweed extracts market is segmented on the basis of application type in which seaweed extracts is used in applications such as agriculture which is sub-segmented into pesticides, fertilizers and others, animal feed, thickening agents, cosmetics and pharmaceuticals. Hence, the global seaweed extracts market is expected to significantly increase the revenue contribution over the forecast period.
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Global Seaweed Extracts Market: Regional Outlook
Geographically, the global seaweed extracts industry can be divided by major regions which include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Globally, among all regions, North America has developed as the most dominant region in global seaweed extracts market. Increasing usage of seaweed extracts in agriculture and horticulture industries in the form of liquid seaweed extracts, application of seaweed liquid extracts on fruits, vegetables and flower crops has increased higher yield and resistance to pests are some factors that has strengthened the growth of global seaweed extracts market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.
Global Seaweed Extracts Market: Growth Drivers
The global seaweed extracts market driving factors are increasing demand for seaweed extracts in agriculture industries which helps in improving seed germination, resistance to pests such as aphids and red spider mite, coupled with high resistance to frost. Seaweed extracts when used with NPK (Nitrogen, phosphorus and potassium) fertilizers improves the effectiveness of fertilizers with providing low cost-effectiveness. Increasing seaweed extracts in powder form in cosmetic products such as soaps, shampoo and creams is fueling growth of the seaweed extracts market. The liquid seaweed extracts production used in fertilizers and pesticides, along with increasing stress tolerance in plants is expected to significantly increase the growth of the global seaweed extracts market. Along with increasing usage of seaweed extracts in various industries, the global seaweed extracts market is expected to observe robust growth over the forecast period.
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Global Seaweed Extracts Market: Key Players
Some of the key players identified across the value chain of the global seaweed extracts market include
Aveeno Active Naturals, Arihant Bio Fertichem Pvt. Ltd., Suboneyo Chemicals Pharmaceuticals (p) Limited, INDIGROW LTD., Saosis Biotech Private Limited, AJ Products Pty Ltd, Chase Organics and Ocean Harvest Technology, Alga-Net and AlgAran Seaweed Products, Ireland. The companies are expected to expand their business by enhancing their product portfolio in global Seaweed Extracts market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global seaweed extracts market till 2026.