Press Release

May, 12 2023

Rising Preference for Organically Grown Food among Consumers is Expected to Drive the Growth of the Global Seaweed Extracts Biostimulant Market

 

Seaweeds are plants that have been naturally grown in the sea. Seaweeds are also known as marine microalgae, generally attached to hard substrata of coastal areas. These plants comprise various marine algae, such as kelps, dulse, rockweeds, and sea lettuce. Seaweed extract is an organic fertilizer containing vitamins, fatty acids, and macro and micronutrients. It also contains oceanic bioactive ingredients such as polyphenol, mannitol, betaine, cytokinin, and hydrocolloid, essential for root development, resistance to pathogens, and improving germination and leaf growth quality. The seaweed extracts biostimulant can be used in both horticulture and agriculture crops. Since this industry is continuously emerging and evolving, it has a lot of potential and scope to be met in the forecast period.

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Data Bridge Market Research analyses that the Global Seaweed Extracts Biostimulant Market is expected to grow at a CAGR of 12.9% from 2023 to 2030 and is expected to reach USD 2,581.48 million by 2030. The growing popularity of horticulture is creating new opportunities for the market to grow in the upcoming years.

Key Findings of the Study

Seaweed Extracts Biostimulant Market

Rising preference for organically grown food among consumers is expected to drive the market growth

Synthetic insecticides, fertilizers, and herbicides produce conventional (non-organic) food. However, organically cultivated food offers the best nutritional benefits and dietary variety, leading to more individuals' consumption of naturally grown food. As a result, the growing popularity of organically cultivated food ultimately increases the demand for plant inhibitors, biofertilizers, and biopesticides. It contains vitamins, fatty acids, and other macro- and micronutrients necessary for plant growth. Seaweed extract offers the perfect substitute for chemical fertilizers, which are used to boost both the amount and quality of farming production.

Furthermore, consumers are increasingly conscious of food production practices today. The use of fewer chemicals, more biodynamic practices, and better soil management are all part of the organic farming system. Parents are moving towards pesticide-free fresh food because research shows that youngsters are more sensitive to food grown with pesticides. The demand for food farmed organically has surged due to parents' growing concerns. This demand for organically grown food is expected to drive market growth in the forecast period.

For instance,

  • In January 2023, according to an article published in MDPI, in the case of emerging nations, due to the significantly smaller price difference between organic products and traditional foods, the health benefits of foods with an eco-label, and the dissemination of information about climate change have a significant impact on the level of consumption of organic foods

Thus, the increasing demand for organic food encourages farmers to avoid using chemical fertilizers to grow plants. On the other hand, seaweed extract as a biostimulant is made from 100% natural sources, which are generally extracted from large plants growing in the sea, such as kelps, rockweeds, dulses, and sea lettuce. Seaweed extracts contain many plant growth hormones and micronutrients, which help germination and plant growth. It also stimulates the root length, number of lateral roots, and shoot length. Seaweed extract has increased the rising output by 30%, which is also proven effective for vegetables such as mung bean and cabbage. Therefore, the growing need for organically grown produce is driving the growth of the market.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Million

Segments Covered

Species (Brown Algae, Red Algae, and Green Algae), Crop Type (Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, Turf & Ornamentals, and Other Crops), Application Method (Foliar Treatment, Soil Treatment, and Seed Treatment), Form (Liquid and Dry), End User (Farmers, Related Industries, Research Institutes, and Others), Distribution Channel (Direct and Indirect)

Countries Covered

U.S., Canada, Mexico, France, Italy, Spain, Germany, U.K., Netherlands, Switzerland, Russia, Belgium, Turkey, Rest of Europe, China, India, Australia, Japan, South Korea, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, South Africa, Egypt, Saudi Arabia, Israel, U.A.E., and Rest of Middle East and Africa

Market Players Covered

FMC Corporation (Philadelphia, U.S.), Valagro S.p.A (Atessa, Italy), OMEX (Lincolnshire, England), ATLÁNTICA AGRÍCOLA (Villena, Spain), BioAtlantis Ltd. (Kerry, Ireland), Koppert (South Holland, Netherlands), Trade Corporation International (Madrid, Spain), UPL (Maharashtra, India), L.Gobbi Srl unipersonale (Liguria, Italy), Qingdao Seawin Biotech Group Co., Ltd. (Shandong, China), Brandt, Inc. (Illinois, U.S.), ASL (Nova Scotia, Canada), Algea (Omagata, Norway), MPH (England, U.K.), Biolchim Spa (Bologna, Italy), Indigrow Ltd (Berkshire, England), BIOVERT S.L (Corbins, Spain), Biostadt India Limited (Maharashtra, India), Ilex EnviroSciences ltd (North Willingham, U.K.), and Haifa Negev technologies LTD (Haifa, Israel) among others        

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Segment Analysis:

The global seaweed extracts biostimulant market is segmented into six notable segments based on species, crop type, application method, form, end user, and distribution channel.  

  • On the basis of species, the global seaweed extracts biostimulant market is segmented into brown algae, red algae, and green algae.

In 2023, the brown algae segment is expected to dominate the seaweed extracts biostimulant market

In 2023, the brown algae segment is expected to dominate the seaweed extracts biostimulant market due to increased preference. It is expected to dominate the seaweed extracts biostimulant market with a 60.80% market share. It is expected to reach USD 1,617.86 million by 2030, growing with a CAGR of 13.4% from 2023 to 2030.

  • On the basis of crop type, the global seaweed extracts biostimulant market is segmented into fruits & vegetables, cereals & grains, oilseeds & pulses, turf & ornamentals, and other crops

In 2023, the fruits & vegetables segment is expected to dominate the seaweed extracts biostimulant market

In 2023, the fruits & vegetables segment is expected to dominate the seaweed extracts biostimulant market, as most biostimulants are made for this segment. It is expected to dominate the seaweed extracts biostimulant market with a 50.58% market share. It is expected to reach USD 1,361.11 million by 2030, growing with a CAGR of 13.6% from 2023 to 2030.

  • On the basis of application method, the global seaweed extracts biostimulant market is segmented into foliar treatment, soil treatment, and seed treatment. In 2023, the foliar treatment segment is expected to dominate the seaweed extracts biostimulant market with a 77.02% market share and is expected to reach USD 2,014.28 million by 2030, growing with the CAGR of 13.1% in the forecast period of 2023 to 2030
  • On the basis of form, the global seaweed extracts biostimulant market is segmented into liquid and dry. In 2023, the liquid segment is expected to dominate the seaweed extracts biostimulant market with an 80.19% market share and is expected to reach USD 2,097.94 million by 2030, growing with the CAGR of 13.1% in the forecast period of 2023 to 2030
  • On the basis of end user, the global seaweed extracts biostimulant market is segmented into farmers, related industries, research institutes, and others. In 2023, the farmers segment is expected to dominate the seaweed extracts biostimulant market with a 55.72% market share and is expected to reach USD 1,480.45 million by 2030, growing with the CAGR of 13.3% in the forecast period of 2023 to 2030
  • On the basis of distribution channel, the global seaweed extracts biostimulant market is segmented into direct and indirect. In 2023, the direct segment is expected to dominate the seaweed extracts biostimulant market with a 63.53% market share and is expected to reach USD 1,669.91 million by 2030, growing with the CAGR of 13.2% in the forecast period of 2023 to 2030

Major Players

Data Bridge Market Research recognizes the following companies as the market players in the global seaweed extracts biostimulant market FMC Corporation (Philadelphia, U.S.), Valagro S.p.A (Atessa, Italy), OMEX (Lincolnshire, England), ATLÁNTICA AGRÍCOLA (Villena, Spain), BioAtlantis Ltd. (Kerry, Ireland), Koppert (South Holland, Netherlands), Trade Corporation International (Madrid, Spain), UPL (Maharashtra, India), L.Gobbi Srl unipersonale (Liguria, Italy), Qingdao Seawin Biotech Group Co., Ltd. (Shandong, China), Brandt, Inc. (Illinois, U.S.), ASL (Nova Scotia, Canada), Algea (Omagata, Norway), MPH (England, U.K.), Biolchim Spa (Bologna, Italy), Indigrow Ltd (Berkshire, England), BIOVERT S.L (Corbins, Spain), Biostadt India Limited (Maharashtra, India), Ilex EnviroSciences ltd (North Willingham, U.K.), and Haifa Negev technologies LTD (Haifa, Israel) among others.

Seaweed Extracts Biostimulant Market

Recent Developments

  • In March 2023, BRANDT announced the release of new nutrient and enzyme-based seed solutions for the upcoming 2023 growing season, which includes BRANDT EnzUp Grain ST, BRANDT SeedZone Zn, and BRANDT EnzUp SeedFlow Zn. These products are specifically designed for corn, wheat, rice, and potatoes. This proprietary enzyme technology enhances seed development by dispersing enzymes into the soil. This new launch will help the company to reach more consumer base
  • In March 2023, Haifa Group entered into a purchase agreement with HORTICOOP BV. It will acquire Horticoop Andina, a wholesaler in Quito, Ecuador, specializing in marketing agricultural nutritional products. This acquisition is anticipated to enable Haifa Group to expand its business operations in Ecuador and the Latin American market while further consolidating its position as a leading global brand in advanced plant nutrition
  • In March 2022, BioAtlantis Ltd. announced that the company is expanding its presence in India by providing advanced and sustainable technologies to enhance crop tolerance to abiotic stress such as drought, heat, and frost through its advanced technology SuperFifty Prime. This product launch and business expansion in India has gained the company a new consumer base across the region
  • In May 2022, Indigrow Ltd introduced the Compass product line, composed of a distinctive range of molecular seaweed and carbohydrate extracts derived from Ascophyllum nodosum grown from renewable and sustainable sources. These seaweed-based products are specifically designed to enhance plant growth by stimulating root development

Regional Analysis

Geographically, the countries covered in the global seaweed extracts biostimulant market are U.S., Canada, Mexico, France, Italy, Spain, Germany, U.K., Netherlands, Switzerland, Russia, Belgium, Turkey, rest of Europe, China, India, Australia, Japan, South Korea, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, Chile, rest of South America, South Africa, Egypt, Saudi Arabia, Israel, U.A.E., and rest of Middle East and Africa.

As per Data Bridge Market Research analysis:

Europe is the dominant and fastest-growing region in the global seaweed extracts biostimulant market during the forecast period 2023-2030

In 2023, Europe is expected to dominate the global seaweed extracts biostimulant market due to the presence of many major players in the region and the increase in initiatives such as acquisitions, collaborations, and product launches by manufacturers to distribute their products efficiently to the consumer. This initiative has helped the market to expand in the forecast period.

For more detailed information about the global seaweed extracts biostimulant market report, click here – https://www.databridgemarketresearch.com/reports/global-seaweed-extracts-biostimulant-market


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