Health Benefits of Seaweed Derivatives | It is expected to grow at a CAGR of 6.5%

The seaweed derivatives market was valued at US$ 2,210.35 Mn in 2018 and is projected to reach US$ 3,903.91 Mn by 2027; it is expected to grow at a CAGR of 6.5% from 2019 to 2027.

Seaweeds are basically red, brown and green marine microalgae, whose extracts are used in the horticultural crops for its plant growth promoting effects. The chemical derivatives of seaweed include fatty acids and vitamins, mineral nutrients, phytoharmones, and complex polysaccharides, among others. Major derivatives of seaweed include alginates, carrageenans, and agars. Alginates are largely extracted from brown seaweeds, while carrageenans and agars are largely extracted from red seaweeds. Alginates, carrageenans, and agars are increasingly used in food and beverage, animal feed, and agriculture industry among others. In 2018, Red seaweed dominated the market.

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The health and nutritional benefits offered by the regular consumption of seaweed and seaweed derivatives is the key factor leading the growth of seaweed derivatives market. Seaweed offers various health benefits such as it contains iodine and tyrosine, which support thyroid function, and it is a rich source of minerals and vitamins. Also, seaweed contains a variety of protective antioxidants, provides fiber and polysaccharides that support gut health, and it reduces heart disease risk. Moreover, regular consumption of seaweed also helps to lose weight by delaying hunger. In 2018, Liquid segment captured largest share in the global market by forms type. There are several types of seaweed, such as nori, kelp, wakame, kombu, dulse, and blue-green algae, such as spirulina and chlorella.

The global seaweed derivatives market is concentrated with a few well-established players such as W Hydrocolloids, Inc., KIMICA Corporation, DuPont de Nemours, Inc., Gelymar S.A., CP Kelco, Algaia, Compañía Española de Algas Marinas, S.A., Cargill, Incorporated, Arthur Branwell & Co., and Agarmex, S.A. DE C.V.

The report segments the global seaweed derivatives market as follows:

By Source

• Red Seaweed
• Brown Seaweed
• Green Seaweed

By Form

• Liquid
• Powder
• Flakes

By End-Use Industry

• Food and Beverages
• Agricultural Products
• Animal Feed Additives
• Pharmaceuticals

Source: The Insight Partners