Laminarin Market By Type (20%-30% purity, 35%-60% purity, 60%-95% purity, Others) , By Application (Food & Beverages, Dietary Supplements, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Laminarin Market
The laminarin market was valued at $0.6 billion in 2023 and is projected to reach $2.2 billion by 2033, growing at a CAGR of 13.9% from 2024 to 2033.
Laminarin is a storage polysaccharide of glucose derived from brown algae such as Ficus and Laminaria. The carbohydrate is widely popular due to its multifunctional attributes and health benefits for humans. It exhibits several bioactive properties such as anti-inflammatory, antioxidant, and antimicrobial effects. Laminarin is a rich source of several nutrients, including omega-3 fatty acids, phenolics, carotenoids, vitamins, and minerals. Depending on its application, the carbohydrate is derived from algae by several methods, including enzymatic hydrolysis, hot water extraction, and alcohol precipitation.
Expansion of the functional foods industry owing to rise in health awareness among individuals is augmenting the development of the laminarin market. In addition, the anti-microbial and anti-inflammatory properties of laminarin make it a key ingredient of topical medications for the treatment of burns, wounds, and skin conditions such as eczema. This acts as a key driver of the market. Furthermore, constantly advancing therapeutic studies for health conditions such as cardiovascular diseases and diabetes propel the development of the market. The emerging trend of clean label and marine beauty is notably fueling the demand for laminarin. It exhibits remarkable properties of hydrating the skin, preventing oxidative stress, and reducing aging signs. Therefore, cosmetic manufacturers are leveraging these characteristics by incorporating laminarin into serums, facemasks, and moisturizers.
However, the extraction & scaling of laminarin is an expensive & resource-intensive process that limits its utility and hampers the development of the market. Moreover, compliance with the regulatory standards pertaining to safety and toxicity levels in the cosmetics, pharmaceuticals, and food & beverage industry is a challenging task that restrains the market growth. On the contrary, the chemotherapeutical properties of laminarin are projected to present lucrative opportunities for the market. The 2024 Global Cancer Statistics of the American Cancer Society estimates global cancer cases to rise from 20 million in 2022 to 35 million by 2050. This exponential increase in cancer cases is projected to boost the commercialization of laminarin.
Segment ReviewThe laminarin market is segmented into type, application, and region. On the basis of type, the market is divided into 20%-30% purity, 35%-60% purity, 60%-95% purity, and others. As per application, it is classified into food & beverages, dietary supplements, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of type, the 20%-30% purity segment held a high share of the market in 2023.
As per application, the food & beverages segment acquired a high stake in the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global laminarin market include Shaanxi Huike Botanical, Hangzhou Skyherb Technologies, Shaanxi Senfu, Xi'an SR Bio, Xi'an Tianrui Biotechnology, Guilin Fengrunlai Biotech, Nutra Green, Xi'an Yunuo, and Xi'an Haijia. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy Type20%-30% purity
35%-60% purity
60%-95% purity
Others
By ApplicationFood Beverages
Dietary Supplements
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market PlayersShaanxi Huike Botanical
Hangzhou Skyherb Technologies
Shaanxi Senfu
Xi'an SR Bio
Xi'an Tianrui Biotechnology
Guilin Fengrunlai Biotech
Nutra Green
Xi'an Yunuo
Xi'an Haijia