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Seaweed or edible sea vegetables are the forms of algae that are widely consumed as a food and even as ingredients in various processed foods. The seaweed derivatives, also known as seaweed hydrocolloids that are extracted in the form of alginates, agar, and carrageenan. In various Asian countries the seaweed is directly utilized in many culinary preparations, whereas, in the west, it is used to extract its derivatives. These seaweed derivatives are used in many processed food products as an emulsifier, thickener, and preservative. Seaweed derivatives are a great source of carbohydrates, proteins, vitamins, and lipids that help in regulating bodily functions. Moreover, the growing demand for natural food additives positively aids the seaweed derivatives market growth.
The increasing demand for seaweed derivatives from non-food application industries such as pharmaceuticals and cosmetics industries have fuelled its market growth. Carrageenan and alginates are widely used as stabilizers, binders, and for creating molds in the pharmaceutical industry. Many manufacturers are incorporating these seaweed hydrocolloids in cosmetics and personal care products such as face masks, toothpaste, and creams. Along with this, the agar is obtained from the red algae which is widely used as a base for microbial cultivation. These factors cumulatively aid the seaweed derivatives market growth.
The rising inclination of consumers towards plant-based foods to suffice their daily intake of essential nutrients is a major factor that drives the global seaweed derivatives market. The rising trend of consuming ready-to-eat and ready-to-cook food products has led to the extensive utilization of seaweed derivatives as a stabilizing and gelling agent in many processed food products. Moreover, the growing food processing industry has also benefitted the seaweed derivatives market. Further, the wide availability of seaweed derivatives and the shifting consumer preferences towards vegan products fuels its market growth.
Key Market Driver -
Rising Consumers Inclination Towards Plant-based Food Products
Key Market Restraint -
High Chances of Microbial Contamination and Seasonal Dependency
The high chances of microbial contamination of seaweed derivatives by various bacteria and viruses as well as the growth of unwanted plants along with the seaweeds in culturing farms are the major factors that negatively impact the market growth. The uncontrolled fouling organisms reduce the production quality of seaweed derivatives. Further, the seasonal fluctuations also have significantly hampered the seaweed derivatives market growth.
The key companies operating in the global seaweed derivatives market are, DuPont de Nemours, Inc., Cargill Incorporated, J.M. HUBER, Gelymar S.A, W Hydrocolloids, Inc., ALGAIA., Humates And Seaweeds Pvt Ltd, KIMICA Corporation, Arthur Branwell and Co Ltd and Hispanagar.
The global seaweed derivatives market is segmented by type, form, application, and geography. The form segment is led by the red seaweed as it is the main source for procuring carrageenan that is widely used in various food products as a gelling agent. Carrageenan has many non-food applications as well as it acts as an excipient in many medicines and syrups. The brown seaweed derivatives, also known as alginates are growing popular owing to its wide utilization in formulating jellies, gummy bears, and candies. The powder form of seaweed derivatives is accounted for holding a major share due to its ease of formulation, storage, and transportation convenience.
The food and beverage segment holds a major share in the seaweed derivatives market due to the soaring consumers' demand for naturally derived food products. The wide utilization of seaweed derivatives in dairy products such as cheese, ice creams, yogurts, and others as a firming agent is contributing to its market growth. Seaweed derivatives enhance the shelf life and texture in many meat products such as sausages and steaks. The cosmetics and personal care industry widely utilizes seaweed derivatives oil for formulating beauty products as it is held to confer anti-aging, antioxidant, and soothing properties, contributing to the market growth.
Asia Pacific region is the fastest-growing market for seaweed derivatives due to its extensive production in countries like China, Japan. Korea and the Philippines. The favorable climatic conditions in the region and the presence of many coastlines in the region aid in the production of seaweed derivatives. Many manufacturers are setting up their seaweed derivative production plants in the region due to the abundant availability of raw materials has further boosted its regional market growth.
North America is witnessing significant growth in the seaweed derivatives sector due to its wide incorporation in various convenience foods. Seaweed derivatives are widely used for producing vegan gelatine and confectionery products coupled with the rise in vegan trend in the region have contributed to its market growth. Further, the presence of many pharmaceutical companies that utilize carrageenan in many medicinal products has fuelled the regional market growth of seaweed derivatives.
Europe is expected to witness moderate growth in the upcoming years due to the wide acceptance of carrageenan as a textural solution for the elaboration of many natural and sustainable products. Many manufacturers in the region are focusing on the development of pioneering technologies for producing high-value molecules like flavors and biopolymers out of renewable raw materials. Moreover, the established cosmetics and personal care industry in the region followed by the growing trend to develop innovative products incorporated with natural ingredients has propelled the seaweed derivatives market growth.
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