Seaweed Extracts Market: Introduction
According to a study conducted by Transparency Market Research, it was found that seaweeds are considered to be one of the highest sources of nutrition and serve various health benefits. Moreover, the growing pharmaceutical segment has been providing growth opportunities to seaweed producers as consumer preference for seaweed extracts as an ingredient is growing.
East Asia holds the majority value share of more than 25.4% of the global seaweed extracts market. It is estimated to be valued at US$ 432.6 Mn in 2022 and is forecast to grow at a CAGR of 5.8% to reach US$ 760.2 Mn by 2031 in the region.
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Seaweed Extract as Potential Bio-fertilizer in Organic Farming
Conventional food & beverage products contain additives and preservatives, which are likely to harm the human body. Thus, with an increasing number of health-conscious people, there is a hype for organic products across the globe. Manufacturers have started using organic ingredients without any additives or preservatives. The market, thus, benefits from the ongoing organic trend, with increased demand for seaweed extract as an additive in organic products. The demand for seaweed extract from organic farming practices as a potential bio-fertilizer also proves to be a positive factor for the market.
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