Laminarin Market Size, Share, Growth, and Industry Growth, By Type (20%-30% Purity, 35%-60% Purity, 60%-95% Purity and Others), By application (Food & Beverages, Dietary Supplements and Others) Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global laminarin market size was USD 2 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with laminarin experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research and analysis, the market is projected to touch USD 4 million by 2028, exhibiting a CAGR of 8.7% during the forecasting period. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Algae and fungi's cell walls contain the carbohydrate laminarin. It is a culinary and thickening ingredient that is used in many different dishes and beverages. Antioxidant qualities of laminarin have also been demonstrated. The molecule is a storage glucan (a polysaccharide of glucose) found in brown algae. It extracted from brown marine algae like Laminaria digitata and some of which are actually marketed under different formulations such as Iodus2 and Vacciplant to protect plants from various pathogens. Laminarin was also reported to elicit different defence reactions in grapevine cultured cells, including calcium influx, alkalinization of the extracellular medium, an oxidative burst, induction of MAPK and PR genes, and the production of phytoalexins.

20-30% purity, a plant extract is used to treat numerous eye conditions and eyesight loss. Glaucoma treatment has been proven to be effective with it, and this is what is anticipated to promote its utilisation over the projected period. 35%-60% purity is a plant extract, it has the capacity to delay ageing and wrinkles. Additionally, it increases the hardness and elasticity of skin. Between 35% and 60% Purity Atopic dermatitis, xerosis and xeroderma, neurodermatitis, chronic contact eczema (CHED), tinea capitis (ringworm), and sebostasis are only a few of the skin conditions that are treated with this chemical.

COVID-19 Impact: Disrupted Food Supply Chain Due to Pandemic to Hamper Market Growth

With COVID-19, the world is facing a previously unheard-of health threat that has a broad impact on nations, the global economy, and supply chains. The world will likely have to deal with this unusual situation for some time rather than finding a quick answer. There are numerous offline and online food chains in the worldwide food and beverage sector. Supply chains have been impacted by COVID-19, but arguably none more so than those for food and drink. Well, its employees were becoming sick and dying, which is by far the worst, most evident, and largest effect. During the pandemic people refrained from eating outside or even purchasing items from shops apart from basic needs. This led to a huge slump in laminarin market sales.

LATEST TRENDS

"Online Platforms to Help Increase Market Growth"

The proliferation of online retail outlets that sell laminarin products has improved consumer access while also raising awareness of the product. Benefits, applications, costs, and dosage directions are all available online at various sites. This element significantly boosted the market and raised laminarin market sales.

SEGMENTATION

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• By Type

Based on type; the market is divided into 20%-30% Purity, 35%-60% Purity, 60%-95% Purity and Others.

In terms of product, 20%-30% purity is the largest segment.

• By Application

Based on application; the market is divided into, food & beverages, dietary supplements and others.

In terms of application, food & beverages segment is the largest segment.

DRIVING FACTORS

"Dietary Supplements to Propel Market Growth"

Dietary supplements are becoming more and more popular among consumers looking for all-natural treatments for a range of health conditions, such as bettering vision and improving cognitive function. Laminaria treatment in the diet enhances immunological responses and development performance. Over the forecast period, rising geriatric populations and an increase in vitamin deficiency cases globally are anticipated to further fuel demand. The product is frequently utilised as a useful component in the creation of nutritional supplements that people take in order to preserve their health. Over the course of the forecast period, laminarin market growth is anticipated to be fuelled by expanding consumer awareness of the benefits of leading a healthy lifestyle and increased demand for sports nutrition products globally.

"Chemical Industries to Stir Market Growth"

The market has benefited from new uses for laminarin in food, nutraceuticals, and medicines as well as from the industry's swift growth. It is also predicted to rise due to the rising end-user demand for chemicals, which is supported by the rising chemical consumption across various industries and the growing need for advanced chemicals.

RESTRAINING FACTORS

"Side Effects of the Molecule to Constrain Market Growth"

Consumption of the product in some people can cause acne or worsen thyroid. If used orally as a medication is possibly unsafe. The thyroid, the gland that needs iodine to generate hormones, is harmed by its high levels of iodine content. It can also cause loss of appetite and sleeplessness. Over dose of the chemical can cause nausea and vomiting. These factors are expected to hamper market growth. Lamotrigine overdoses have also been linked to rhabdomyolysis, or the rapid breakdown of skeletal muscles, according to research. As a result, myoglobin, a muscle protein, leaks into the blood.

REGIONAL INSIGHTS

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"North America to Dominate Market Due to Increasing Demand for Laminarin "

Owing to the significant demand from the food and beverage and dietary supplement industries, North America has the largest laminarin market share. Due to growing consumer awareness of the health benefits of molecule and increasing product demand, the region is anticipated to maintain its leadership during the forecast period. The expanding geriatric population in Europe is also anticipated to make it a lucrative market for the industry worldwide due to their continual medical needs and high drug consumption.

KEY INDUSTRY PLAYERS

The report provides information about the top-winning strategies implemented by industry players. It outlines prospective openings for newcomers, up-and-coming players, and influential players in the area. After taking into account the socioeconomic aspects and governmental policies of the nations in the regions, a regional analysis is conducted. The report also covers technical and environmental outcomes, company and region-specific studies, and the effects and hazards of growing industries. Given the occasionally changing circumstances of market players, the information's facts may alter. With Japan, China, and Korea dominating the manufacturing sector, the Asia Pacific region will have the lion's share of the market.

List of Market Players Profiled

• Shaanxi Huike Botanical (China)
• Hangzhou Skyherb Technologies (China)
• Shaanxi Senfu (China)
• Xi'an SR Bio (China)
• Xi'an Tianrui Biotechnology (China)
• Guilin Fengrunlai Biotech (China)
• Nutra Green (China)
• Xi'an Yunuo (China)
• Xi'an Haijia (China)

REPORT COVERAGE

The study uses both primary and secondary research approaches to provide an in-depth overview of the laminarin market. The customer will gain a better understanding of current market dynamics, the supply-demand imbalance, pricing trends, product preferences, consumer behaviours, and other factors thanks to this research. Primary research was used to further validate the findings with industry professionals and opinion leaders from other nations. Through a variety of market estimation and data validation procedures, the data is further collated and validated. The report's geographical analysis section includes data on regional product sales in terms of volume and revenue. It outlines prospective openings for newcomers, up-and-coming players, and influential players in the area.