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Fucoidan market boom

Maritech branded sample jars sitting on laboratory countertop

The seaweed industry continues to capture attention across the globe. With more than 12,000 species described to date, seaweeds hold promise in addressing a wide range of issues – everything from food security and biomaterials through to human health are being explored. Together, governments, research institutions and private enterprises are developing innovative applications for seaweeds and their intriguing range of bioactive compounds.

Research Reports World recently highlighted that the global edible seaweed market is anticipated to reach USD $8.67 billion in 2028, representing a CAGR of 5.29%. A further report released by The World Bank identified the nutraceutical market as one of the most promising market growth opportunities for seaweed and seaweed extracts. The report notes that seaweeds and their bioactive compounds are predicted to fuel a seaweed nutraceutical market of USD $3.9 billion by 2030. In particular, significant growth in the global fucoidan market is set to occur over the same period, with the B2B fucoidan market predicted to grow by more than 26%.

Supporting the growth is mounting scientific evidence attesting to the potential benefits of fucoidan. There are now more than 3,500 published papers attesting to the bioactivity of fucoidan in numerous health indications, with immune support, gut and digestive health, and healthy ageing gathering particular scientific attention.

The World Bank report also assessed the potential of the seaweed industry to provide optimal socio-economic and environmental benefits to ensure a sustainable future. Leading fucoidan manufacturers are well advanced in their support of the Sustainable Development Goals, not only sustainably hand-harvesting seaweeds and employing unique green chemistry extraction methods, but in their utilisation of renewable energy and the capture and repurpose of manufacturing by-product. An overview of Marinova's sustainability practices and commitment to the Sustainable Development Goals is available on the company's website

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