Global Fucoidan Market - 2023-2030

Global Fucoidan Market - 2023-2030

Global Fucoidan Market reached US$ 90.5 million in 2022 and is expected to reach US$ 202.6 million by 2030, growing with a CAGR of 10.6% during the forecast period 2023-2030.

Due to the rising demand for natural health products and ingredients, the fucoidan market has expanded recently. Fucoidan is commonly utilized in a range of foods and beverages often available, as supplements in the form of capsules or powders. The market for fucoidan is being influenced by factors, including the growing demand for organic products increasing health awareness and the rise, in chronic diseases. Fucoidan has a number of potential advantages in the treatment of immune disorders, cancer, and cardiovascular disease.

Global demand for fucoidan is increasing as the pharmaceutical sector grows. Antioxidant use is made of fucoidan. It is also employed as an antitumor, anti-angiogenic, antiviral, anti-inflammatory, anticoagulant, and antithrombotic agent. The skincare and cosmetics industries are also using more and more fucoidan. It has a number of advantageous qualities for maintaining skin elasticity and water retention.

For the development of new cosmetic product formulations, such as anti-aging skin care products, fucoidan is a natural alternative that is currently being researched. For instance, in May 2023, the U.K. company OCEANIUM created the high-purity bioactive ingredient 'OCEAN ACTIVES Fucoidan,' which cosmetic companies can use to create various skincare formulations. Similar to this, Luminact Brite and Luminact Reverse are cosmetic ingredients that were developed by Marinova, a supplier of fucoidan ingredients, in collaboration with Innospec, a manufacturer of specialty chemicals with headquarters in Germany.

Dynamics

Growing Efforts to Improve Microalgae Extraction and Cultivation

The market for nutritional food and supplements is seeing an increase in demand for fucoidans derived from algae. Compared to other beta-glucans, such as yeast-derived beta-glucan, the algal beta-glucan is less expensive. Moreover, several species of brown seaweed contain fucoidan primarily on the cell wall matrix. Beta-glucan and fucoidan extracts from microalgae are currently the subject of extensive research. The market is expanding as a result of this factor. By improving their production capabilities, the suppliers of microalgae ingredients are continuously working to meet the demands of customers in the fucoidan market.

For instance, the US biotechnology company F3 Platform Biologics granted the licence and the rights to produce Beta-1 and Beta-3 glucans from the microalgae Euglena Gracilis to Algatech Ltd. in August 2019. Additionally, by developing extraction methods for microalgae cultivation, producers will be able to use beta-glucan microalgae successfully in a variety of industries, including food, dietary supplements, and healthcare. Numerous organisations are making numerous efforts in this regard. These factors are anticipated to soon support the market's expansion as a whole.

Global Cardiovascular Disease and Cancer Cases are Growing

In developed countries, heart disease and stroke are first and second in terms of adult fatalities. To help with prevention before an urgent need for a cure arises, demand for dietary supplements and nutraceuticals that boost cardiovascular health and inhibit cancer cells has increased. Notably, it has been proven that fucoidans and beta-glucans can be used to treat both diseases in a safe and effective manner. Beta-glucans and fucoidans assist in mobilising immune cells and initiating a defence response. In cases of cancer, this triggered response helps the body plan a coordinated attack on cancer cells. Additionally, it helps to restrain the growth of cancerous cells. These factors support market expansion.

High Production Costs

Fucoidan can be expensive and labor-intensive to extract from seaweed. This may have an impact on fucoidan product affordability and market penetration. The specific kinds of seaweed that contain fucoidan can be difficult to find and require a lot of labour to gather. Boats, skilled labour, and equipment are needed for seaweed harvesting. Furthermore, the accessibility of seaweed abundant in fucoidan may differ regionally and according to the season.

Strict quality control procedures are required in order to guarantee the fucoidan's quality and purity. Testing for contaminants, making sure there are no heavy metals or other pollutants, and checking the amount of fucoidan are all included in this. Moreover, complicated and drawn-out procedures are needed to extract fucoidan from seaweed. This typically entails cleaning, drying, grinding, and extracting fucoidan using a variety of methods and solvents. Both skilled labour and specialised machinery are needed for these processes. Such elements are anticipated to limit market expansion to some degree.

Segment Analysis

The global fucoidan market is segmented based on form, functionality, application and region.

Capsule Form can be Used for Producing Pharmaceuticals and Dietary Supplements

The capsule segment leads the market. The capsule has a higher bioavailability than other forms, such as liquid, semi-liquid, or powder form. This qualifies it as an appropriate delivery method that enables the compound to be effectively delivered to the bloodstream. These attributes make the product well suited for manufacturing top notch medications for individuals dealing with conditions such, as cancer diabetes, Alzheimers disease (AD) and ailments. Furthermore several companies are introducing supplements, in format as they are easier to ingest and mask the unfavorable tastes and smells associated with their components.

Geographical Penetration

Rising Prevalence of Health Ailments and Life-Threatening Diseases is Driving the Demand for Market in Europe

The growing demand, for compound-based pharmaceuticals in the region has been fueled by an emphasis on discovering ingredients for developing innovative medications and dietary supplements through clinical trials. The U.K. market in comparison to countries is also experiencing growth. Many startups are expanding their capabilities to process seaweed, which is expected to drive market expansion. The use of seaweed and seaweed processing in this country is growing, even though humans consume a significant amount of seaweed. Producing high-end, premium products that can be used in pharmaceuticals, cosmetics, and dietary supplements is where manufacturers focus their efforts.

COVID-19 Impact Analysis

The COVID-19 pandemic had an impact on the availability of the raw material (brown seaweed), which is processed to further develop fucoidan. Many farmers in Europe and Asia, two of the top seaweed exporters, were unable to harvest seaweed in a timely manner, which led to the decay of the seaweed and financial loss for the concerned farmers. During the COVID-19 pandemic, its use in the pharmaceutical industry was also impacted. Some of the areas that suffered a great deal during that time were clinical trials and research. Clinical trials of new products on patients were severely hampered as hospital visits by diabetics, cancer patients, and other patients decreased out of contracting for catching COVID-19.

Russia-Ukraine War Impact Analysis

When a supply chain depends on resources or infrastructure in areas where there is conflict, such as when harvesting seaweed or using extraction facilities or transportation routes, disruptions could happen. This could result in scarcities and higher production costs. Geopolitical tensions can affect the price of imports and exports by causing currency fluctuations. Currency devaluation in either country increased the marketability of their products, which had an impact on fucoidan prices.

By Form
• Powder
• Capsule
• Others

By Functionality
• Immunity Booster
• Cardiovascular Health
• Others

By Application
• Food and Beverages
• Supplements
• Others

By Region
• North America

U.S.

Canada

Mexico
• Europe

Germany

UK

France

Italy

Spain

Rest of Europe
• South America

Brazil

Argentina

Rest of South America
• Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In May, 2023, a high-purity bioactive ingredient called ""OCEAN ACTIVES Fucoidan"" was created by the U.K. company OCEANIUM that cosmetic companies can use to create various skincare formulations.
• In April, 2023, Official support for the Royal Society of Chemistry spring meeting came from Dextra Laboratories Ltd. The conference would provide funding for the ECR bursaries, enhancing the participation of young researchers.
• In February, 2023, Hepatica made significant investments to build its production system in accordance with the standards set by the European Commission. The company's production, supply, and storage systems were awarded the HACCP certificate.

Competitive Landscape

The major global players in the market KANEHIDE BIO Co., Ltd, Kamerycah, Inc., Yaizu Suisankagaku, Fucoidan Force, Seaherb, Haerim Fucoidan, Marinova, Hi-Q Marine Biotech International Ltd., Molekula Group, and Absonutrix LLC.

Why Purchase the Report?
• To visualize the global fucoidan market segmentation based on form, functionality, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of fucoidan market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global fucoidan market report would provide approximately 61 tables, 56 figures and 186 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies