The Seaweed Derived Minerals Market is valued at USD 2,814.6 Million in 2022 and is anticipated to reach USD 4,455.3 Million by 2032. The market is expected to grow at a CAGR of 4.7% from 2022 to 2032.
Seaweed derived minerals are essential trace elements such as iodine, potassium, magnesium, calcium, iron, and pigments extracted from seaweeds.
Seaweed derived minerals are particularly significant ingredients in the food industry as consumers are demanding specialized salt-free products or those which are bereft of MSG, and seaweed derived ingredients, being naturally salty offer a promising opportunity for the manufacturers to cut down salts in finished food products.
Consumers often find salt-free products bland and tasteless while seaweed derived minerals offer a savory and meaty flavor to the food, overcoming the savory issues of the salt-free products.
In the overall salt substitute industry, a key emphasis is being paid to the flavor language of consumers and hence research and development is a fundamental regulator in governing the seaweed derived minerals market growth. Also, in the finished products, seaweed derived minerals bear the flag of salt substitutes.
| Attributes | Details |
|---|---|
| Seaweed Derived Minerals Market Size Value in 2022 | USD 2,814.6 Million |
| Seaweed Derived Minerals Market Projected Size Value in 2032 | USD 4,455.3 Million |
| Global Growth Rate (2022 to 2032) | 4.7% CAGR |
| Forecast Period | (2022 to 2032) |
The launch of a wide range of products with a focus on product developments while taking into consideration the rising demand for Seaweed Derived Minerals in numerous End Use Applications. The numerous health benefits obtained from these products prove to be a significant driving factor for the market's growth. The market is expected to expand throughout the forecast period.
Future Market Insights projects the market to remain lucrative, exhibiting growth at 4.7% CAGR between 2022 and 2032 in comparison to the CAGR of 5.1% posted between 2016 and 2021.
A new report published by Future market insights, titled, "Seaweed Derived Minerals Market - FMI 2022-2032," projects the global Seaweed Derived Minerals market to reach USD 4,455.3 Million by 2032 and is expected to grow at a CAGR of 4.7% from 2022 to 2032. The market grew at a CAGR of 5.1% between 2016 and 2021. Forecasts for growth remain optimistic, with the sales of Seaweed Derived Minerals predicted to grow at a CAGR of 4.7% between 2022 to 2032. This period marked the entry of various market players and product innovations.
In the upcoming years, it is anticipated that factors including Globalization, shifting consumer preferences, and rising health consciousness will increase demand for salt free products to the trend of Asian food products. Also, apart from being a salt substitute, seaweed derived minerals also act as flavor enhancers being the major factors driving the market growth.
Also, product improvements are anticipated to expand the Seaweed Derived Minerals in the coming years. The leading players in the Seaweed Derived Minerals now have a sizable window of opportunity thanks to rising demand.
Encouraging the incorporation of seaweed derived minerals in food products such as bread, cheese, snacks, ready meals, and frozen meat at the industrial food processing level offer ample opportunities for seaweed derived minerals manufacturers, as these processed products are the most common route of high salt intake amongst consumers.
Educational marketing will ease the issues regarding lack of consumer awareness as consumer understanding and acceptance play a central role in promoting the seaweed derived minerals market growth.
A modelling-based approach and triangulation methodology will be followed to estimate the data covered in this report.
A detailed market understanding and assessment of the product types and end uses of the target product covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period.
The statistics and data are collected at a regional level, consolidated, and synthesized at a global level to estimate the overall market sizes.
The USA is a prominent market for Seaweed Derived Minerals with a dominant market share of 30.2% globally and is also expected to exhibit high growth over the forecast period. According to the latest study, the Seaweed Derived Minerals Market is anticipated to grow substantially and register a significant CAGR over the forecast period.
According to the FMI’s regional analysis, the region of North America has had the fastest growth due to the enormous demand and supply that exist for Seaweed Derived Minerals products. The rise in health consciousness among consumers and the increase in demand for salt free products are some of the key factors driving the growth of the market.
Rapid research and development by the major market players have helped the market to experience significant growth and to focus on potential consumers to sustain long-term product sales. This research and development aim to understand and provide sustainable solutions for the increasing demand for healthy and convenient food options that are fuelling the growth of the Seaweed Derived Minerals Market in the USA.
The UK Seaweed Derived Minerals Market research gives context for and insight into how, despite the market's slower-than-anticipated growth, opportunities in the UK Seaweed Derived Minerals Market are still quite attractive, exhibiting a sizeable market share globally, The Seaweed Derived Minerals Market in the UK is anticipated to grow at a lucrative CAGR of 3.4% during 2022.
According to the FMI analysis, the increased popularity of products with natural salt is boosting the use of Seaweed Derived Minerals in the Food & Beverage Industry, Dietary Supplements, Animal Nutrition & Pet Food, and the Meat Processing Industry in the UK. This market will have the quickest growth in the supplements category due to numerous studies that are anticipated to release a variety of new products over the forecast period in the UK.
These factors have made it essential for players operating in the market to maintain high-quality standards in the production of Seaweed Derived Minerals for sustaining sales through 2032.
The FMI analysis of the German Seaweed Derived Minerals Market shows how, the factors such as increased disposable income, brisk middle-class population expansion, high purchasing power, and the popularity of supplements have increased due to the increasing number of fitness enthusiasts and their reliance on high-protein diets will contribute to the rapid growth.
A significant rate of growth in the use of Seaweed Derived Minerals is projected due to the rising demand from numerous industries. All these significant drivers of growth are increasing the demand in Germany, Accounting for a sizeable market share of 22.0% globally. Manufacturers are expected to use innovative marketing and promotional techniques to boost sales during the forecast period.
The China seaweed derived minerals market is diverse and rapidly growing industry, with a wide range of products being produced and consumed. Seaweed is a highly nutritious and versatile food source and has been used in Chinese cuisine for thousands of years. In recent years, seaweed has seen a resurgence in popularity in China, as consumers look for healthier and more sustainable food options.
In China, many new startups and established companies are leveraging this trend to reach new customers and expand their reach. With more people shopping online and seeking out new and innovative food products, the market in China is poised for continued growth during the forecast period. Therefore, the market in China is expected to grow at a CAGR of 6.2% from 2022 to 2032.
The manufacturers are extensively focusing on expanding the application of Seaweed Derived Minerals in end use segment which includes various sectors like Fertilizers, Food & Beverage Industry, Dietary Supplements, Animal Nutrition & Pet Food, Meat Processing Industry. For instance, Seaweed Seaweed-derived minerals are particularly important food ingredients because customers are seeking specific salt-free or MSG-free goods, and because seaweed-derived substances are naturally salty, producers have a promising chance to reduce salts in finished food items.
Based on form, the market is dominated by the powder segment. The dominance of powdered seaweed derived minerals in the market can be attributed to several factors. Firstly, it is a versatile ingredient that can be easily incorporated into different food and beverage products, providing a nutritious boost. Secondly, the powder form offers greater convenience and easier storage compared to other forms. Additionally, the powdered form also allows for more efficient and cost-effective transportation and distribution.
The increasing demand for plant-based and sustainable food products, in addition to the recognition of seaweed derived minerals as a superfood, has led to a rise in the popularity of seaweed derived minerals powder. Furthermore, seaweed derived minerals powder is increasingly in demand from the dietary supplements sector. These factors have collectively contributed to the dominance of powdered seaweed in the market.
The Seaweed Derived Minerals Market was impacted by COVID 19, although only to a limited extent. Changes in factors such as demand, consumption, transportation, consumer behavior, supply chain management, import, export, and production were constrained.
Research & development is the major modicum for the seaweed derived minerals market growth as the growth of the market is spurred by innovation in food ingredients. The seaweed derived minerals market currently hosts several players engaged in product innovation and marketing them for the health conscious demo graph.
Due to the presence of several local and regional competitors, the industry is extremely fragmented and competitive globally. As a part of their growth strategies, leading players in the market emphasize strategic partnerships, mergers, and acquisitions to establish a firm foothold. Apart from collaborations, a profound emphasis on research and development for better product rollout will help solidify growth prospects during the assessment period. For instance
Over the forecast period, new companies are expected to enter the Seaweed Derived Minerals Market, both locally and regionally, due to attractive opportunities. Some of the key players in the Seaweed Derived Minerals Market are listed below.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2016 to 2021 |
| Market Analysis | USD Million for Value & MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Europe, Germany, UK, France, Italy, Spain, BENELUX, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Vietnam, Philippines, Singapore, Oceania, Australia, New Zealand, MEA, GCC Countries, Turkey, Egypt, South Africa. |
| Key Segments Covered | Form, Source, Nature, End Use, Region, Sales |
| Key Companies Profiled | Marigot; Maxicrop USA, Inc.; Celtic Minerals; Sar Agrochemicals & Fertilizers; BioFlora; HMHS Solutions; Humates And Seaweeds; Alesco |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
With an increase in the specialty ingredients industry, Seaweed Derived Minerals Market is expected to witness exponential growth over the forecast period. Apart from being a salt substitute, seaweed derived minerals also act as flavor enhancers. Globalization and the trend of Asian food products have also propelled the growth of the seaweed derived minerals market as seaweed is traditionally consumed in Asia through soups and broths.
The seaweed derived minerals add umami-like indulgent flavors to the salt-free products. As the trend for Asian food products continues to mount amongst western consumers, this trend is graciously coupled with the manufacturers' efforts to cater to consumer demand, and hence, the seaweed derived minerals are forecasted to achieve considerable growth over the forecast period. The quality and versatility of seaweed derived minerals in food products are of greatest concern to the manufacturers as seaweed derived minerals are known to be not fully soluble and sometimes disrupt the texture and appearance of the finished products.
Another factor which may hinder the seaweed derived minerals market growth is the supply of the base raw material pacing with sustainability. Manufacturers have to constantly focus on sourcing seaweed derived minerals from a seaweed species which is both scalable and sustainable.
Manufacturers now have numerous opportunities to serve to the growing demand. Global Seaweed Derived Minerals Market: Examples of some of the market participants in the global seaweed derived minerals market identified across the value chain include Marigot Ltd., Maxicrop USA, Inc., Alesco S.r.l., Celtic Minerals Ltd., Humates and Seaweeds Pvt Ltd, BioFlora, LLC, Sar Agrochemicals & Fertilizers Pvt. Ltd and HMHS Solutions Limited amongst others.
Throughout the forecast period, the Seaweed Derived Minerals Market is expected to grow at a CAGR of 4.7%.
By 2032, the Seaweed Derived Minerals Market is expected to be worth USD 4,455.3 Million.
Currently, the USA is at the top of the market share with 30.2% of the global Seaweed Derived Minerals Market. UK, Germany, and Japan are also growing at a steady CAGR.
Some of the key players in the Seaweed Derived Minerals Market include Marigot Ltd., Maxicrop USA, Inc., Alesco S.r.l., Celtic Minerals Ltd., Humates and Seaweeds Pvt Ltd, BioFlora, LLC, Sar Agrochemicals & Fertilizers Pvt. Ltd and HMHS Solutions Limited amongst others.
Explore Similar Insights
Seaweed Derived Minerals Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
