Seafood Extracts Market Expected to Expand at a Steady CAGR through 2025

Seafood extract are obtained from sea life animals such as fish, shellfish, crab, lobster etc. after processing them. Use of seafood in various industries such as pharmaceutical, cosmetic, food and paper industry is increasing which in turn is driving the growth of seafood extracts in global market. Seafood is considered as a healthy food for humans as it contains nutrients which are utilized in body to prevent number of diseases and also helps as a healthy diet. Seafood extract adds flavour to the food if applied topically or used in stuffing and filling in food products. Seafood extracts are available in paste, powder, oil etc. forms to be used in food. Fish shell extract is used in various cosmetic products which is increasing demand for the seafood extract in global market.

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Market Segmentation: Seafood extracts

The seafood extracts market is segmented on the basis of its applications in different industries such as food industry, cosmetic industries, pharmaceutical industries, agriculture industry, paper industry etc. In food industry seafood extracts available in powder and other forms are used in soups, marinades, salad dressings, snacks, appetizers etc. as flavor enhancer. In cosmetic industry, crystalline guanine obtained from fish extracts is used in shampoo, eye shadows, nail polish and perfumes etc. which gives shiny effect to the product. Calcium carbonate obtained from shell waste of crab is used in pharmaceutical industry as a constituent of pills. In agricultural industry, extracts obtained from seafood is used as a fertilizer.

The seafood extracts market is segmented on the basis of end-product as anchovy extract, clam extract, codfish extract, crab extract, lobster extract, shrimp extract, taimi extract, katsuobushi extract, and tangle extract etc. These seafood extract products are mainly obtained in powder, paste, oil and flake forms to be used in various industries.

The seafood extract market is segmented on the basis of source as fish, crab, lobster, seaweed and others. Fish and crab extracts are used more comparatively than seaweed and lobster extracts.

The seafood extracts market is segmented on the basis of regions as North America, Latin America, Europe, APAC and ME.

Global Seafood Extracts Market: Regional Outlook

Depending on geographic regions global Seafood Extracts market is segmented into five key regions: North America, Latin America, Europe, APAC and ME. Japan, China, South Korea and other Asian countries are the major consumers of seafood extract. Europe and the U.S. are emerging markets for seafood extracts and have seem to grow in forecast period. MEA is also gaining interest in seafood extract products and is expected to grow in near future.

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Global Seafood Extracts Market: Drivers and Trends

The seafood extracts market is primarily driven by health conscious consumer as seafood extract contains proteins and carbohydrates, as a result of increasing awareness of healthy food consumption seafood extract demand is increasing. Supermarket sale of seafood extract food products is growing fast as a result of increasing popularity of seafood extract products used in pasta, frozen fish and crab cakes and seafood-based soups as topping or flavoring agent. Use of seafood extracts in cosmetic industry is increasing as the demand for cosmetic products like shampoo, nail paints, perfume and lipsticks is increasing globally. Seafood extracts are also used as taste enhancing flavours which is increasing demand for seafood extract powder, paste and oils in food industry.

Global Seafood extracts: Key Players

Some of the key players identified across the value chain of the global Seafood Extracts market include 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 are amongst.