Global Seaweed Extracts Biostimulant Market, By 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) - Industry Trends and Forecast to 2031.
Seaweed Extracts Biostimulant Market Analysis and Size
The rising preference for organically grown food among consumers is the key factor fueling the expansion of the seaweed extracts biostimulant market. The availability of a wider range of seaweed extracts biostimulant products is driving the market's expansion. Additionally, the market is further influenced by the rising need for sustainable agriculture.
The global seaweed extracts biostimulant market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
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.
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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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UPL, FMC Corporation, Haifa Negev technologies LTD, Valagro S.p.A, ASL, BioAtlantis Ltd., Biostadt India Limited, Algea, Koppert, ROVENSA NEXT, OMEX, Brandt, Inc., Qingdao Seawin Biotech Group Co. Ltd. , MPH, Biolchim Spa, Indigrow Ltd, BIOVERT S.L., and Ilex EnviroSciences ltd among others
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Market Definition
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.
Global Seaweed Extracts Biostimulant Market Dynamics
Driver
- Rising Preference for Organically Grown Food Among Consumers
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 bio pesticides. 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.
Opportunity
- Growing Popularity of Horticulture
As Seaweed is a popular organic fertilizer and soil conditioner in horticulture. Its high nutrient content, including nitrogen, phosphorus, potassium, and trace elements, makes it an excellent source of plant food. In horticulture, seaweed is often used as a foliar spray, which means it is applied directly to the leaves of plants. This method allows the nutrients to be absorbed by the plant more quickly, resulting in faster growth and improved resistance to pests and diseases. Horticulture crops require more supplementary inputs in terms of fertilizers and pesticides to maximize the yield of each acre. Thus the seaweed extract biostimulants can be used to increase crop growth as well as to enhance their overall yield.
Restraint/Challenge
- Disproportionality in the Supply Chain of Seaweed Extract
The global demand for seaweed extract will rise in the coming years due to the growing demand for organic food across the globe. Therefore, the supply chain plays a vital role in the production of seaweed from marine sources. The seaweed supply chain majorly includes seaweed suppliers, manufacturers, and customers.
Recent Developments
- In In 2022, Biostadt Group completed the acquisition of all assets and businesses of Biogene Seeds Sciences Pvt. Ltd, thereby expanding its product portfolio to include research rice, hybrid corn, vegetables, and crops such as jowar and bajra. In addition, the company intends to introduce its product, Hyzyme, to the southern states. This strategic move is aimed at achieving the objective of doubling the company's business within a period of two years
- In October 2021, UPL announced a long-term strategic partnership to create microbial-based bio solutions (such as biostimulants and biopesticides) that will aid growers worldwide in combating pests and diseases and enhancing crop quality and yields. Chr. Hansen is a global bioscience company. This partnership has helped the company to get better brand value, a new consumer base, and a wide range of products and solutions portfolio
Global Seaweed Extracts Biostimulant Market Scope
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. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Species
- Brown Algae
- Red Algae
- Green Algae
On the basis of species, the global seaweed extracts biostimulant market is segmented into brown algae, red algae, and green algae.
Crop Type
- Fruits & Vegetables
- Cereals & Grains
- Oilseeds & Pulses
- Turf & Ornamentals
- Other Crops
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.
Application
- Foliar Treatment
- Soil Treatment
- Seed Treatment
On the basis of application method, the global seaweed extracts biostimulant market is segmented into foliar treatment, soil treatment, and seed treatment.
Form
- Liquid
- Dry
On the basis of form, the global seaweed extracts biostimulant market is segmented into liquid and dry.
End User
- Farmers
- Related Industries
- Research Institutes
- Others
On the basis of end user, the global seaweed extracts biostimulant market is segmented into farmers, related industries, research institutes, and others.
Distribution Channel
- Direct
- Indirect
On the basis of distribution channel, the global seaweed extracts biostimulant market is segmented into direct and indirect.
Global Seaweed extracts biostimulant Market Regional Analysis/Insights
The global seaweed extracts biostimulant market is segmented on the basis of species, crop type, application method, form, end user, and distribution channel.
The countries 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.
Europe is expected to dominate the market due to the increasing demand for seaweed as a natural ingredient for crop production propels the market for seaweed extract biostimulant. France is expected to dominate in Europe because launching seaweed extract patents are driving up market demand. U.S. is dominating in North America region due to increasing adoption of organic farming practices, rising demand for sustainable agricultural solutions, and extensive research and development activities in the region. China is dominating in Asia-Pacific region due to its significant seaweed cultivation. The region's growing agricultural sector and adoption of biostimulant products contribute to its market position.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data point downstream and upstream value chain analysis, technical trends porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Seaweed Extracts Biostimulant Based Market Share Analysis
The global seaweed extracts biostimulant market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the global seaweed extracts biostimulant market.
Some of the prominent participants operating in the global seaweed extracts biostimulant market are UPL, FMC Corporation, Haifa Negev technologies LTD, Valagro S.p.A, ASL, BioAtlantis Ltd., Biostadt India Limited, Algea, Koppert, ROVENSA NEXT, OMEX, Brandt, Inc., Qingdao Seawin Biotech Group Co., Ltd. , MPH, Biolchim Spa, Indigrow Ltd, BIOVERT S.L., and Ilex EnviroSciences ltd among others.
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