Red Seaweed Extract Market Size to Accelerate at a Rapid CAGR of 2029

Posted by Arslan on October 11th, 2019

The global market for red seaweed extract is estimated to expand at a rate of higher single-digit CAGR during the forecast period from 2019 – 2029. According to the recent research activity of the company, the global production of agars and carrageenan together was pegged at more than 100,000 metric tons in 2018, and the production is estimated to grow at a steady rate throughout foretell years. As a result, an increase in overall production of agar and carrageenan is likely to amplify the total demand for the global Red Seaweed Extract Market. Geographically, the global market for red seaweed extract is expected to be dominated by Asian countries due to rising consumer awareness concerning the health benefits of red seaweed extract and expanding trade activities in the Asian countries.

Like several other seaweed extracts, red seaweed extract industry provides a wide variety of food products for human consumption. Among other seaweeds, red seaweed is very versatile and is mainly used to produce alginate, agar, hydrocolloids and carrageenan, which are used as gelling and thickening agents. The red seaweeds are mostly produced in China, Chile and Indonesia. Red seaweed extracts are the substances comprising appropriate properties is used in various end-use industries such as food & beverages, nutraceuticals, pharmaceuticals and cosmetics among other industries. The global demand for red seaweed extract is anticipated to attain massive traction across the developed, as well as growing regions, due to the ease of availability for red seaweed extract products. The global market for red seaweed extract consists of several global and local vendors with their business and sales footprint across the globe.

Increasing overall investments in R&D to play key role in driving red seaweed extract market

Over the last decade, the overall industry scenario of food & beverage industry has transformed due to increasing per capita spending on nutraceutical supplements and food retail sector growth across the globe. The global market for red seaweed extract is anticipated to create remunerative growth opportunities for the leading industry giants due to several market impacting factors. Some of the market dynamics include rising demand for organic red seaweed extracts, expanding overall production of seaweed algae and growing investments in research & developments activities are some of the factors, which are expected to drive the global red seaweed extract market during the forecast period. However, the high cost of red seaweed production and stringent government regulations may hamper the overall growth of the red seaweed extract market globally in the coming years.

Industry giants to play key role in overall increment of global red seaweed extract sales

The red seaweed extract market can be segmented on species type, form, nature, end-use application and functionality. On the basis of species type, the red seaweed extract market can be segmented into E. cottonii, E. spinosum and halymenia durvillaei. On the basis of form, the red seaweed extract market can be segmented into powder, liquid, gel and flakes. On the basis of nature, the red seaweed extract market can be segmented into organic and conventional. On the basis of end-use application, red seaweed extract market can be categorized into milk products, meat products, confectionary, beverages, bakery products, soups, dietary supplements, paints, cosmetics, animal feed additives, pharmaceutical & biotechnological and other industrial applications. On the basis of functionality, the alfalfa seed extract market can be segmented into stabilizing agent, thickening agent, gelling agent and emulsifying agent. The global market for red seaweed extract can be segmented into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa.

Recent product developments in red seaweed extract market is expected to upsurge overall sales

Key industry giants in the global red seaweed extract market is continuously focusing on increasing their production capacity and their worldwide sales network to attract more customers. Some of the market participants in the global red seaweed extract market include E.I. DuPont De Nemours and Company; Cargill; Algaia SA; Aquarev Industries; Saosis Biotech Private Limited; and other prominent players in red seaweed extract market.

The research report presents a comprehensive assessment of the red seaweed extract market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to red seaweed extract market segments such as geographies, species type, form, nature, end use application, and functionality.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of red seaweed extract. The report also maps the qualitative impact of various market factors on market segments and geographies.

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