Europe Seaweed Derivatives Market Key Players and Forecast by 2027

The Europe seaweed derivatives market was valued at US$ 362.05 Mn in 2018 and is projected to reach US$ 632.43 Mn by 2027; it is expected to grow at a CAGR of 6.4% from 2019 to 2027.

Seaweeds are red, brown, and green marine microalgae; their extracts are used in the horticultural crops owing to their plant growth promoting effects. The major derivatives of seaweeds include alginates, carrageenans, and agars, while their chemical derivatives include fatty acids and vitamins, mineral nutrients, phytoharmones, and complex polysaccharides, among others. Alginates are largely extracted from brown seaweeds, while carrageenans and agars are largely extracted from red seaweeds. Alginates, carrageenans, and agars are increasingly being used in food and beverages, animal feed, and agriculture industries, among others.

The UK contributes the largest share to the Europe seaweed derivatives market. The UK market is majorly driven by the wider application of seaweed derivatives in the food &beverages industry. It is increasingly being used in fertilizers that are applied to improve crop yield and increases crop strength; the use of these additives help crops gain pest resistance. Rising consumer awareness regarding health benefits of seaweed derivatives is majorly boosting the seaweed market in the UK. Also, the escalating demand of organic food products fuels the growth of seaweed derivatives market in this country.

The recent COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread across the globe at a fast pace. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In Europe, food &beverages is one of the major industries suffering serious consequences of this outbreak in the form of supply chain disruptions, technology events cancellations, and office shutdowns. For instance, China is the hub of manufacturing and the largest raw material supplier for various industries worldwide. The overall market breakdown due to COVID-19 is also affecting the growth of the seaweed derivatives market in Europe due to shutting down of factories, obstacles in supply chain, and downturn in world economy.

Europe Seaweed Derivatives Market

Market Insights

Rising demand from food and beverages industry fuels global seaweed derivatives market growth

Seaweed derivatives such as agars, alginates, and carrageenans are extensively used in various food and beverage products. These derivatives are used in a wide range of food and beverages such as ice cream, syrup, lunch meats, baby formula, almond milk, whipped cream, candy bars, chocolate milk, coffee beverages (e.g., iced coffee and soy-based coffee drinks), coffee creamer, ricotta cheese, yogurt, cottage cheese, and sour cream, among others. Carrageenans are used as a thickening ingredient in puddings, chocolate milk, chewing gum, jams, and jellies. Additionally, carrageenans reduce waste by extending the shelf life of foods without any loss of quality. Various foods, such as mayonnaise and salad dressing, would separate without the help of a stabilizer. Therefore, carrageenan is used as a stabilizing agent in mayonnaise and salad dressing. Therefore, a wide range of applications of seaweed derivatives in the food and beverage industry boosts the growth of the seaweed derivatives market.

Source Insights

Based on source,the seaweed derivatives market is segmented into red seaweed, brown seaweed, and green seaweed. In 2018, the red seaweed segment accounted for the largest share of the Europe seaweed derivatives market. Red seaweedscontain the highest protein levels of all, which are responsible for its red color. Despite being found in the shallow waters, red seaweeds are capable of withstanding deep water conductions such as survival in low light and high-pressure conditions. These factors boost the growth of red seaweed derivatives market.

Europe Seaweed Derivatives Market, by Source – 2018 and 2027

Form Insights

Based on form, the seaweed derivatives market is segmented into liquid, powder, and flakes. In 2018, the liquid segment accounted for the largest share of the Europe seaweed derivatives market; however, the powder segment is expected to register the highest CAGR during the forecast period. Liquid derivatives from brown seaweed are marketed for horticultural and agricultural applications. The liquid seaweed derivatives are used at high dilution rates, which results in minimal quantities of material being applied in the given area.

End Use Insights

Based on end use, the seaweed derivatives market is segmented into food and beverages, agricultural products, animal feed additives, pharmaceuticals, and others. In 2018, the food and beverages segment accounted for the largest share of the Europeseaweed derivatives market; however, the animal feed additives segment is expected to register the highest CAGR during the forecast period. Seaweed derivatives such as alginates are widely used in bakery products, candies, dairy products, salad dressings, ice creams, and creams and jellies; they are also being used in sausages, and processed meats and fish. The derivatives are also used in clarifying beers and wines. Alginates are completely organic and are safe for food application. Additionally, when dissolved in water, alginates are capable of thickening a solution. Moreover, they can form gels when they are added to a calcium salt solution. Therefore, alginates are primarily used in salad dressings and mayonnaise.

Report Spotlights

• Progressive industry trends in Europe seaweed derivatives market that help players develop effective long-term strategies
• Business growth strategies adopted by players with the focus on both developed and developing markets
• Quantitative analysis of Europe seaweed derivatives market from 2017 to 2027
• Estimation of seaweed derivatives demand across various industries in Europe
• Recent developments to understand the market competition and demand in Europe
• Market trends and outlook, coupled with factors driving or restraining the growth of Europe seaweed derivatives market
• Insights to help decision-making process by providing understanding of strategies that underpin commercial interest with regard to Europe seaweed derivatives market growth
• Europeseaweed derivatives market size at various nodes of market
• Detailed overview and segmentation of the Europe seaweed derivatives market, as well as its dynamics in the industry
• Size of seaweed derivatives market in various European countries, with promising growth opportunities in the corresponding countries

Europe Seaweed Derivatives Market – By Source

• Red Seaweed
• Brown Seaweed
• Green Seaweed

Europe Seaweed Derivatives Market – By Form

• Liquid
• Powder
• Flakes

Europe Seaweed Derivatives Market – By End-Use

• Food and Beverages
• Agricultural Products
• Animal Feed Additives
• Pharmaceuticals
• Others

Company Profiles

• W Hydrocolloids, Inc.
• KIMICA Corporation
• DuPont de Nemours, Inc.
• Gelymar S.A.
• CP Kelco
• ALGAIA
• Compañía Española de Algas Marinas, S.A.
• Cargill, Incorporated
• Arthur Branwell & Co. 

Europe Seaweed Derivatives Report Scope