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Seafood Extract Market Trends

Report ID: GMI8931 Published Date: April 2024Report Format: PDF
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Seafood Extract Market Trends

The seafood extract industry is witnessing several notable trends that are shaping its trajectory. One prominent trend is the increasing consumer preference for clean-label and natural ingredients, driving demand for seafood extracts as flavor enhancers and nutritional supplements. Consumers are becoming more conscious of their health and seeking products with recognizable and sustainable ingredients, fueling the popularity of seafood-derived flavors in various food and beverage applications.

Another trend is the growing recognition of the health benefits associated with seafood extracts, such as their high content of omega-3 fatty acids, vitamins, and minerals. This awareness is driving the incorporation of seafood extracts into functional foods, dietary supplements, and pharmaceutical formulations aimed at promoting cardiovascular health, cognitive function, and overall well-being.

Additionally, there is a rising interest in ethnic cuisines, particularly Asian and Mediterranean, which frequently utilize seafood flavors, further boosting the demand for seafood extracts globally. Moreover, technological advancements in extraction techniques and product formulations are enabling manufacturers to innovate and diversify their product offerings to meet evolving consumer preferences. As the market continues to expand, sustainability and traceability are emerging as key considerations, prompting industry stakeholders to prioritize responsible sourcing practices and transparent supply chains to meet the growing demand for seafood extracts.

Author: Kiran Pulidindi, Kunal Ahuja
Frequently Asked Question(FAQ) :

How big is seafood extract market?+

The market size of seafood extract reached USD 9 billion in 2023 and is set to witness 5.6% CAGR between 2024 and 2032, led by increasing consumer demand for natural flavor enhancers and nutritional supplements.

What is the size of Asia Pacific seafood extract industry?+

Asia Pacific market generated USD 4.6 billion in 2023, attributed to increasing consumer awareness of the health benefits associated with seafood consumption.

Why is the demand for shrimp extract growing?+

Shrimp extract dominated over USD 3.7 billion in 2023, owing to the rich flavor profile and versatility in culinary applications.

Mention the major players involved in seafood extract market?+

Del-Val Food Ingredients, Firmenich, International Ingredients Solution, Kakusan Foods, Nikken Foods, North Marine Ingredients, Shirashi Calcium, VNAROMA, Welding GmbH & Co. KG and Yantai Huahai Biochemical Product CO., Ltd

Seafood Extract Market Scope

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