The worldwide Red Seaweed Extract Market is expected to reach USD 2,058.4 million in 2022 and USD 3,242.7 million by 2032, increasing at a CAGR of 4.6% from 2022 to 2032. By the end of 2032, the worldwide red seaweed extract market is expected to have an absolute dollar potential of USD 1,184.3 million. 46% of the worldwide seaweed extract market is made up of red seaweed extract.
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Red algae or seaweed extract may have use in personal care and cosmetics, food and beverage additives, and animal feed additives, among other things. Red seaweeds are increasingly being used for human consumption, opening up new potential for the food business. Manufacturers employ red seaweed extracts to make alginate, hydrocolloids, agar, and carrageenan, which are used as thickening and gelling agents. As a result, the red seaweed extract market is expected to gain 245 BPS over the projected period of 2022-2032.
Competitive Landscape:
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
Key Players:
- Cargill
- Algaia SA
- Aquarev Industries
- Saosis Biotech
- Shemberg
- Ceamsa
- Green Fresh Foodstuff
- Qingdao Nanshan Seaweed
- Karagen Indonesia
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Regional Analysis:
Asia-Pacific: This region is a significant player in the red seaweed extract market. Countries like China, Japan, and South Korea have a long history of utilizing seaweed in their traditional cuisines and medicines. The Asia-Pacific region is likely to be a major producer and consumer of red seaweed extract, with applications ranging from food additives (like agar and carrageenan) to cosmetics and agriculture.
North America: The demand for natural and sustainable ingredients has led to the growing use of red seaweed extract in various industries in North America. In the food industry, for instance, it can be used as a thickening or gelling agent. The region’s cosmetics and personal care industry might also incorporate red seaweed extract due to its potential skincare benefits.
Europe: Similar to North America, the European market has shown interest in natural and plant-based ingredients. Red seaweed extract could find applications in the food industry for gelling agents, as well as in cosmetics and personal care products for its potential skincare properties.
Latin America: Coastal countries in Latin America might have an advantage in terms of seaweed resources. Red seaweed extract could be used in traditional cuisine and potentially in the cosmetics and personal care industry.
Key Segments of Industry:
- By Product Type:
- Powder
- Liquid
- Gel
- Others
- By Application:
- Food & Beverage
- Personal Care & Cosmetics
- Animal Feed Additives
- Pharmaceuticals
- Others
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