Seafood Extracts Market Outlook 2031

• The global seafood extracts market was valued at US$ 8 Bn in 2021
• It is estimated to expand at a CAGR of 5.3% from 2022 to 2031
• The global seafood extracts market is expected to reach US$ 13.5 Bn by the end of 2031

Seafood Extracts Market: Overview

• The global consumption of seafood extracts is currently pegged at 7,90,938 MT and expected to reach at 11,85,135 MT by the end of the forecast period
• In the North American region, U.S. holds the largest majority stake with approximate share of 73.25% in 2021. It is expected to reach US$ 2,328.5 Mn in 2031
• Seafood extracts are majorly utilized in the food industry, it is valued at US$ 4,296.2 Mn in 2021 and expected to reach US$ 7,416.1 by the end of the forecast period

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Seafood Extracts: Market Frontrunners

• Seafood extracts are extensively used across pharmaceutical, cosmetics, and agriculture industry due to its multifunctional benefits. Seafood extracts are available throughout the year and they also provide significant operational benefits by eliminating the need for time-consuming preparation.
• In East Asia, the demand for seafood extracts is present majorly in processed food products and other food manufacturing. This region has a high demand for processed food products. Among the all the regions, East Asia and North America presents a higher opportunity of growth, which can be attributed to a growing food industry, and increasing demand for processed food.
• Seafood extracts includes seaweeds which contains natural fibers that helps in reducing the body weight without the intake of calories. It even aids in preventing overeating. It also helps in bringing down the levels of cholesterol in the blood by about 18%.

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Consumer Preference for Innovative and Unique Food Products

• Consumers are trying out innovative food products to satisfy their taste buds. In order to cater to the growing needs of customers, manufacturers and producers are also focusing on product innovation and development to come up with new food products that have added functional and microbial properties.

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