Kelp Extracts market size, share & industry analysis, By Form (Powder, Liquid, Flacks, Others), By Application (Food & Beverage, Agriculture Inputs, Pharmaceutical, Others) and regional Forecast, 2024-2032

Kelp extract is a versatile product extensively used in food and beverages for direct human consumption. It is also utilized as an ingredient in the personal care, cosmetics, and animal feed industries. Moreover, the increasing utilization of kelp extract in the pharmaceutical industry due to its micronutrients, macronutrients, and bioactive compounds content, is predicted to drive the global market in forthcoming years.

The prominent players operating in the market are capitalizing on the launch of new products and technical advancement to produce high-quality kelp extracts to fulfill the increasing demand for the product across the globe. Kelp extract is a good source of iodine, a micronutrient essential for living organisms as it play an essential role in the synthesis of thyroid hormone. Therefore, the demand for kelp extracts is predicted to remain high among dietary supplement manufacturers, which is expected to boost market growth in forthcoming years.

Kelp extracts are used as a functional ingredient as they are rich in certain macronutrients, minerals, and vitamins. Moreover, they are generally low in fat and rich in carbohydrates and antioxidants, hence they are extensively utilized in dietary supplement production and across the pharmaceutical industry. In addition, kelp extracts are known to enhance seeds' germination and increase plant tolerance to environmental stresses. Kelp extracts are considered as one of the best biofertilizers as they contain an adequate amount of polysaccharide, potassium, nitrogen, and growth-promoting hormones. The increasing demand for kelp extracts from the agriculture industry is predicted to positively impact market growth. The increasing end-user application of kelp extracts is predicted to drive the global market of kelp extracts. For instance, alginate, a mucilaginous substance extracted from kelp, is used in weight reduction treatment as slimming agents, dispersing and thickening agents in cosmetic industries, and as emulsifiers and fillers in pharmaceutical products.

The region-specific rules and regulations regarding the launch of new kelp extracts and complicated processes to get approval from various government bodies to start this business are expected to hamper the market growth.

Key Players Covered:

The prominent players operating in the global kelp extracts market are Acadian SeaPlants Limited, Compo GmbH & Co. KG., North America Kelp, Smart Organic AD, Cargill, Inc., Roullier Group, DowDuPont, Biostadt India Limited, Main Coast Sea Vegetables Inc, Atlantic Holdfast Seaweed Company, and Others.

The powder form of the kelp extract is predicted to hold a considerable share in the global market. Kelp extract powder is extensively utilized in food and beverage industry as a thickening agent, the addition of kelp extract powder to soups and stews can provide good taste, enhances the nutritional quality and texture of the product. Furthermore, kelp extract flacks are widely used as a salad dressing to improve the nutritional content of the salad, which is predicted to boost the demand for kelp extract flacks in forthcoming years.

Increasing awareness about the consumption of kelp extracts is predicted to boost the product share in the food & beverage industry. They are widely utilized as a functional ingredient in many processed foods to increase their notational content, which is projected to positively impact market growth. Moreover, they are getting wider adoption for the preparation of organic and bio-based fertilizers owing to increasing demand for biodegradable, non-polluting and non-toxic fertilizers.

Regional Analysis:

Asia Pacific is expected to hold a significant share in the market place. Besides being a part of many Asian cuisines it is also has been used in traditional medicine systems to treat various diseases such as thyroid. The increasing awareness regarding the health benefits of kelp extracts among Asians is expected to positively impact the market growth within the region. Furthermore, China, Japan, and South Korea are some of the top producers of kelp, which is expected to serve as an opportunity for many regional kelp extracts producers.

North America is anticipated to grow at a considerable pace in the global kelp extract market. Intensifying demand for functional foods, increasing utilization of kelp extracts in the food and beverage industry, and expanding the personal care industry are projected to boost the market share within the region. Furthermore, growing consumer awareness regarding the benefits of kelp extracts containing fertilizers is predicted to positively impact market growth.

Segmentation

Key Industry Developments:

• In November 2017, DowDuPont completed the acquisition of FMC Corp.’s Rockland seaweed processing plant. This acquisition is predicted to help the DowDuPont to expand its production capacity.