Red Seaweed Extract Market

Global Red Seaweed Extract Market Outlook

The global red seaweed extract market is estimated at USD 2,058.4 Million in 2022 and is forecast to surpass USD 3,242.7 Million by 2032, growing at a CAGR of 4.6% from 2022 to 2032.

Report Attributes	Details
Base Year Value (2021A)	USD 1,977.3 Million
Estimated Year Value (2022E)	USD 2,058.4 Million
Projected Year Value (2032F)	USD 3,242.7 Million
Global Growth Rate (2022-2032)	CAGR 4.6%
Asia-Pacific Market Share in 2021	~43%
Asia-Pacific Growth Rate (2022-2032)	CAGR ~5.3%
Collective Value Share (US, China, India) 2022: Top 3 Countries	~43%
Top 5 Companies Market Share in 2021	~27%
Key Companies Profiled	Cargill Algaia SA Aquarev Industries Saosis Biotech Shemberg Ceamsa Green Fresh Foodstuff Qingdao Nanshan Seaweed Karagen Indonesia Other Market Players

The global red seaweed extract market is likely to create an absolute dollar opportunity of USD 1,184.3 Million by the end of 2032. The global red seaweed extract market holds ~46% of the global seaweed extract market.

2017-2021 Global Red Seaweed Extract Market Outlook in Comparison to 2022-2032 Growth Forecast

Red algae or seaweed extract has potential benefits for application in personal care & cosmetics, food & beverage, and animal feed additives etc. Red seaweeds are being used now for human consumption, thereby providing new opportunities for the food industry. Red seaweed extracts are used to produce alginate, hydrocolloids, agar, and carrageenan and are used as thickening agents and gelling agents  by the manufacturers. This is therefore, estimated to provide a gain of 245 BPS to the red seaweed extract market over the forecast period of 2022-2032.

Moreover, the use of red seaweed extract in personal care and cosmetics industry along with application in food & beverage, and pharmaceuticals are likely to provide enhance revenue stream for the manufacturers in the market.

Fact.MR projects the red seaweed extract market is expected to witness exhibiting growth at 4.6% CAGR during 2022 and 2032 in comparison to a CAGR of 3.1% with which it grew from 2017 and 2021.

Enhanced Usage in Personal Care and Cosmetics to Fuel Market Demand

Red seaweed extract is very much beneficial for the skin because of its anti-bacterial and anti-viral properties and is an active ingredient for promoting skin health. As it is a natural source for polysaccharides and is a rich source of amino acids, minerals, and vitamins, replenishes the skin’s natural water reservoir.

In addition to this, the red algae or seaweed extract produces amino acids that are exceptionally good at blocking UVA rays from the sun, thereby promoting a healthier skin barrier. It neutralizes free radicals, reduces wrinkles, and reduces fine lines by protecting the dermal layer against oxidative stress. Therefore, all these factors are likely to support market demand for red seaweed extract by 1/4th of current levels during the forecast years of 2022-2032.

Recent Product Developments in Red Seaweed Extract Market is expected to Upsurge Overall Sales

The red seaweed extract industry offers an extensive range of food products for consumption by human as it is versatile and is used to produce hydrocolloids, agar, alginate, and carrageenan, which are used as gelling and thickening agents.

The red seaweed extracts comprising of appropriate properties are used in multiple end-use industries of nutraceuticals, pharmaceuticals, cosmetics, food and beverages etc. As red seaweed is mostly produced along the coastal regions and in Chile, China, and Indonesia, they are likely to witness enhanced demand in the developed, and growing regions, attributed to the easy availability for red seaweed extract products. The red seaweed extract market is likely to witness presence of global and local vendors over the years.

Factors Restraining Market Growth

Manufacturers are using carrageenan, a food additive mined from red seaweed as a thickening agent. However, it can cause potential risks when it is treated with acid, carrying significant health warnings. It may lead to inflammation, bowel disorders, ulcers, IBD or even cancer in some cases. Therefore, these factors are likely to restrain market growth by 0.4X over the assessment period of 2022-2032.

Competitive Landscape: Top Companies in Red Seaweed Extract Market

The global red seaweed extract market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the growth of red seaweed extract.

Fact.MR has provided detailed information about price points of key manufacturers in red seaweed extract market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

• Cargill launched red seaweed powder in 2021 from an organoleptic perspective to accentuate smooth and creamy texture in dairy. The product is produced without any chemical modification, keeping the natural components intact
• Sapec sgps and controlling shareholder acquired 31% shares of Algaia SA in the year 2019 from Demeter & Cap Decisif. This will lead to strategic development of the business in multiple markets and provide for natural and sustainable solutions over the years

Global Red Seaweed Extract Market by Category

• By Product Type, Global Red Seaweed Extract Market is segmented as:

  • Powder
  • Liquid
  • Gel
  • Others

• By Application, Global Red Seaweed Extract Market is segmented as:

  • Food & Beverage
  • Personal Care & Cosmetics
  • Animal Feed Additives
  • Pharmaceuticals
  • Others

• By Region, Global Red Seaweed Extract Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA