Growing consumption of organic and health centric products is surging the demand for natural additives such as seaweed derivatives. The market for seaweed derivatives is receiving impetus from increasing application of organically produced seaweed derivatives as bio-fertilizers. High demand for Carrageenan in food and beverage products is another strong factor propelling seaweed derivatives market.
Besides these diverse applications, side-effects of chemical fertilizers such as reduced soil productivity is compelling the manufacturers of fertilizers to adopt seaweed derivatives as bio-fertilizer, creating new avenues of profitability in seaweed derivatives market.
Pharmaceutical Industry Generates New Application Prospects to Bolster Market Growth
Attributing to multiple applications of seaweed derivatives as food additives, particularly as a thickening, stabilizing, emulsifying, and gelling agent, adoption remains strong in the food & beverages industry. It is projected that the F&B industry will maintain its lead in the market, with over half of revenue share during the forecast period. Besides this conventional application, manufacturers are seeking profitable prospects in other application areas, including pharmaceutical and agricultural products. Utilization of seaweed derivatives in drug formulations, tissue engineering, and nanoparticle systems has been accentuating demand for seaweed derivatives, thereby positively influencing the market growth.
Asian Markets Reflect Lucrative Opportunities for Manufacturers
East Asia is projected to continue its lead in the foreseeable time period. Besides East Asia, South Asia is emerging as a hub of profitable opportunities for manufacturers. The market in fast developing economies such as India and China are generating substantial revenue through sales of personal care products and ingredients owing to consistently growing demand of these products from a large working population. With the rise of clean label trend, market players in seaweed derivatives landscape have intensified their organic farming ventures in Asian regions to explore untapped areas of application.
Innovations Key to Market Expansion
The health-conscious consumer population that opts for food products with natural additives is expanding at a rapid pace encouraging manufacturers of seaweed derivatives to expand their product portfolio. Private companies in the market are evaluating different extraction processes of seaweed additives, to come up with innovative procedures, creating employment in seaweed derivatives landscape. These structural changes are bound to reward seaweed derivatives industry with new possibilities and strategies. Increasing demand for bio-fertilizers for improved crop yield and stress tolerance has been encouraging market players to invest efforts in strengthening their foothold the market.
Analyst’s Viewpoint about the Competition Landscape-
Innovations by market players to gain competitive edge are intensifying the competitive landscape of seaweed derivatives. These players are further deepening their penetration in production of red seaweed to get an upper hand in carrageenan market. Manufacturers in pharmaceutical industry are witnessing rapid developments owing to insurgence of a large number of competitors, seeking profits in seaweed derivatives infused drug delivery systems. In addition to these applications, use of seaweed as a bio-fertilizer is also garnering interest of market players on the back of increasing organic farming practices across the globe.
Seaweed Derivatives Market – Scope of Report
Persistence Market Research (PMR) recently published a new research analysis on the global seaweed derivatives market for the forecast period of 2019-2029. The report provides a detailed insight on evolving market dynamics such as drivers, opportunities and trends, along with the information regarding seaweed derivatives market structure. This research report on seaweed derivatives represents exclusive facts and figures about the growth trajectory of seaweed derivatives market during forecast period.
A comprehensive analysis of different key indicators of market growth such as compounded annual growth rate (CAGR), year-on-year (YOY) growth of market, supply chain and value chain analysis have been presented in PMR’s study. This information assists readers in understanding quantitative development projections of the seaweed derivatives market over the forecast period.
The study is relevant for different stakeholders in seaweed derivatives market including manufacturers, suppliers, distributers and investors, as it can help them to understand strategies for growth in seaweed derivatives market. Moreover, new market entrants can also leverage the provided information to expand their bases in seaweed derivatives market.
The report highlights facts & figures associated with various microeconomic and macroeconomic factors which influence the growth of seaweed derivatives market. The study further throws light on actionable insights on historical and current trends molding the growth of seaweed derivatives market. Moreover, the performance journey of seaweed derivatives market can be analyzed by regional players and new entrants to make business decisions and gain prominence in market.
Key Segments of Seaweed Derivatives Market
PMR’s study on seaweed derivatives market is divided into four major segments – Source, form, end use and region. Detail analysis of every segment along with the data pertaining to growth of each segment is included in the study.
Seaweed Derivatives Market: Key Questions Answered in Report
Seaweed Derivatives Market: Research Methodology
An exclusive research methodology is employed to conduct comprehensive research on developments in seaweed derivatives, to reach conclusions about growth factors driving the future of seaweed derivatives market. Analysts ensure precision and reliability of these conclusions in a two-step process comprising of primary research followed by secondary research. During this evaluation process, analysts take reference from various authentic sources including government websites, white papers, trade journals and OEM websites. The compressive information acquired during primary and secondary research is validated by prominent companies operating in the market to testify the accuracy and reliability of PMR’s projection on growth prospects in the seaweed derivatives market.