Seaweeds are plants that naturally grow 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, oligosaccharides betaine, cytokinin, and phycocolloid, which are considered essential ingredients for root development, resistance to pathogens, and improving germination and leaf quality. The seaweed extracts biostimulant can be used in both horticulture and agriculture crops.
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Data Bridge Market Research analyses that Global Seaweed Extracts Biostimulant Market is expected to reach USD 2.94 billion by 2031 from USD 1.11 billion in 2023, growing with CAGR of 13.1% during forecast period of 2024-2031.
Key Findings of the Study
Rising preference for Organically Grown Food among Consumers is Expected to Drive the Market Growth
Synthetic (man-made) insecticides, fertilizers, and herbicides are used in the production of conventional (non-organic) food. However, organically cultivated food offers the best nutritional benefits and dietary variety, leading to a larger uptake of naturally grown food by more individuals. As a result, the growing popularity of organically cultivated food ultimately increases the demand for plant inhibitors, bio fertilizers, and biopesticides. As 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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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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)
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Countries Covered
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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, United Arab Emirates, and Rest of Middle East and Africa
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Market Players Covered
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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), ROVENSA NEXT (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
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Data Points Covered in the Report
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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.
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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 2024, the brown algae segment is expected to dominate the Global Seaweed Extracts Biostimulant Market
In 2024, the brown algae segment is expected to dominate the seaweed extracts biostimulant market with a 61.07%, because brown algae contain a range of beneficial bioactive compounds that can enhance plant growth and development.
- 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 2024, the fruits & vegetables segment is expected to dominate the Global Seaweed Extracts Biostimulant Market
In 2024, the fruits & vegetables segment is expected to dominate the seaweed extracts biostimulant market with a 50.90% market share, due to seaweed extract biostimulants contain various nutrients, such as vitamins, minerals, and trace elements which are beneficial for the growth of plants of fruits and vegetables.
- On the basis of application method, the global seaweed extracts biostimulant market is segmented into foliar treatment, soil treatment, and seed treatment. In 2024, the foliar treatment segment is expected to dominate the seaweed extracts biostimulant market with a 77.17% market share
- On the basis of form, the global seaweed extracts biostimulant market is segmented into liquid and dry. In 2024, the liquid segment is expected to dominate the seaweed extracts biostimulant market with an 80.35% market share
- On the basis of end user, the global seaweed extracts biostimulant market is segmented into farmers, related industries, research institutes, and others. In 2024, the farmers segment is expected to dominate the seaweed extracts biostimulant market with a 55.96% market share
- On the basis of distribution channel, the global seaweed extracts biostimulant market is segmented into direct and indirect. In 2024, the direct segment is expected to dominate the seaweed extracts biostimulant market with a 63.69% market share
Major Players
Data Bridge Market Research analyses UPL (Maharashtra, India), FMC Corporation (U.S.), Haifa Negev technologies LTD (Israel), Valagro S.p.A (Atessa), ASL (Canada) as major market players in this market.
Recent Developments
- In March 2024, BRANDT announced the release of new nutrient and enzyme-based seed solutions for the upcoming 2024 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 is designed to enhance seed development by dispersing enzymes into the soil. This new launch will help the company to reach more consumer base
- In March 2024, Haifa Group entered into a purchase agreement with HORTICOOP BV, under which it will acquire Horticoop Andina, a wholesaler operating in Quito, Ecuador, and specializing in the marketing of nutritional products for agriculture. 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 2024, Biolchim Spa launched its new product, LOKER AID, a newly developed plant nourishment product that is designed to enhance plant defense mechanisms by providing specific nutrients. The innovative formulation, which is set to be launched at MACFRUT 2024, is formulated to stimulate the growth of well-balanced and strong plants, thereby improving their productivity and growth even under challenging conditions. This new product launch will help the company expand its product portfolio and address the market's demand
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, United Arab Emirates, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
Europe is the dominant and fastest growing region in Global Seaweed Extracts Biostimulant Market
Europe is expected to dominate the global seaweed extracts biostimulant market due to the presence of a large number of major players in the region and the increase in initiatives such as acquisitions, collaborations and product launch by manufacturers to distribute their products efficiently to the consumer.
For more detailed information about the global seaweed extracts biostimulant market report, click here – https://www.databridgemarketresearch.com/reports/global-seaweed-extracts-biostimulant-market
