Seafood Extracts Market

Global Seafood Extracts Market Size (2024 to 2032)

The global Seafood Extracts market was valued at USD 8.32 billion in 2023. The global market size is expected to grow at a CAGR of 5.8% from 2024 to 2032 and be worth USD 13.82 billion by 2032 from USD 8.80 billion in 2024.

MARKET OVERVIEW

Seafood extracts are acquired from ocean life creatures, for example, fish, shellfish, crab, lobster, and so on in the wake of handling them. Utilization of seafood in different enterprises, for example, pharmaceutical, restorative, food, and paper industry are expanding which thus is driving the development of seafood extricates in the worldwide market. Seafood is considered solid nourishment for people as it contains supplements that are used in the body to forestall a number of illnesses and furthermore helps as a sound eating routine. seafood extracts add flavor to the food whenever applied topically or utilized in stuffing and filling in food items. Seafood extracts are accessible in glue, powder, oil, and so on structures to be utilized in food. Fish shell separate is utilized in different restorative items which are expanding interest for the fish extricate in the worldwide market.

The sales of recommendations by the administrations and open privately owned businesses over the world to relieve the effect of the COVID-19 pandemic is the key factor impelling the development of the Seafood Extracts to market. The seafood extracts market is portioned based on the source as fish, crab, lobster, ocean growth, and others. 

MARKET DRIVERS

The seafood extracts market is principally determined by wellbeing cognizant purchaser as seafood extracts contain proteins and sugars, because of expanding attention to sound food utilization seafood extracts interest is expanding. Grocery store offer of seafood extracts food items is developing quickly because of expanding notoriety of seafood extracts items utilized in pasta, solidified fish and crab cakes, and fish-based soups as fixing or seasoning specialist. The utilization of seafood extracts in the restorative industry is expanding as the interest for corrective items like cleanser, nail paints, scent, and lipsticks are expanding internationally. seafood extracts are likewise utilized as taste improving Flavors which are expanding interest for fish extricate powder, glue, and oils in the food industry.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Seafood Extracts Market Analysis By Product Type:

Fish and crab extracts are utilized more compared to others. These seafood extracts are essentially used as powder, glue, oil, and chip structures in different ventures. 

Global Seafood Extracts Market Analysis By Application:

The seafood extracts accessible in powder and different structures are utilized in soups, marinades, serving of mixed greens dressings, snacks, tidbits, and so forth as a flavour enhancer. In the restorative industry, crystalline guanine got from the seafood extract is utilized in the cleanser, eye shadows, nail clean and fragrances and so on which gives gleaming impact to the item. Calcium carbonate got from shell misuse of crab is utilized in the pharmaceutical industry as a constituent of pills. In the horticultural industry, separates got from fish are utilized as manure.

REGIONAL ANALYSIS

The market is relied upon to enlist a sound development in the global topography during the estimated time frame. The rising food preparation and healthful enhancements industry over the globe is probably going to push the market for fish powders. The developing economies are relied upon to make a noteworthy interest for seafood extracts as there is worthwhile development in the prepared food industry. South Asia and East Asia on the whole speaks to an extensively high piece of the overall industry for seafood extracts, and the seafood extracts market is required to develop at an altogether high rate because of the expanding populace and changing food utilization natural surroundings. China and India's creating market is required to positively affect the development of seafood extracts market. North America is a developing business sector because of the high per capita salary and the buyers' high consumption on the characteristic nutraceutical and wholesome food fixings items, which is probably going to support the seafood extracts market.

Be that as it may, the antagonistic effect on shoppers because of the touchiness of seafood extracts items has been enrolled with wellbeing establishments, which is probably going to hamper the development of the worldwide market during the estimated time frame.

KEY PLAYERS IN THE SEAFOOD EXTRACTS MARKET

Key Players In The Seafood Extracts Market are Nikken Foods, Acadian Seaplants Ltd, MC Food Specialties Inc, Manidharma Biotech Private Limited, Agri Bio Care India, Kakusan Foods Co., Ltd, Suboneyo Chemicals Pharmaceuticals (P) Limited, Sar Agrochemicals & Fertilizers Pvt. Ltd, Sushil Corporation, Canada Oceanic.

RECENT HAPPENINGS IN THE MARKET

• Giraffe Foods Inc. has completed the acquisition of Lounsbury Foods, which is a leading manufacturer of seafood and horseradish cocktail sauce products in North America. The addition of Lounsbury's portfolio of products and manufacturing capabilities extends Giraffe's offering to its foodservice, industrial and retail customers.
• In June 2020, Charlotte's Web, a Boulder, Colorado-based manufacturer of hemp extracts, has completed the acquisition of Abacus Health Products, a specialist in over-the-counter topical products that combine active pharmaceutical ingredients and hemp extract. Charlotte’s Web has obtained all the outstanding subordinate voting shares associated with Abacus.

DETAILED SEGMENTATION OF GLOBAL SEAFOOD EXTRACTS MARKET INCLUDED IN THIS REPORT    

This research report on the Global Seafood Extracts Market has been segmented and sub-segmented based on Product Type, Application, & region.        

By Product Type:

• Crab Extract
• Shrimp Extract
• Anchovy Extract
• Clam Extract
• Codfish Extract
• Lobster Extract

By Application:

• Food Industry
• Pharmaceutical Industry
• Agriculture Industry
• Cosmetics Industry

By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa