Global Fucoidan Market: Introduction
- Fucoidan is a high-molecular polysaccharide found in various brown seaweed or algae species. It is also known as fucoidin, mekabu fucoidan, fucan, and sulfated alpha-l-fucan. It is a water-soluble dietary fiber.
- Sulfated fucose is a key constituent of fucoidan. The saccharide chain present in fucoidan constitutes galactose, xylose, mannose, and uronic acid.
- Fucoidan is consumed as a part of daily diet in many East Asian countries including China, Japan, and South Korea
- Commercially available fucoidan is primarily extracted from mozuku species of brown seaweed, as it encloses with more than 90% polysaccharide fucoidan. Sea cucumber and sea urchins also contain fucoidan, although in an insignificant amount.
- Fucoidan is widely used in various industries including cosmetics, pharmaceutical, food & beverages, and dietary supplements
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Rise in Demand for Pharmaceuticals to Drive Global Fucoidan Market
- Growth in the pharmaceutical industry is boosting the demand for fucoidan across the globe. Fucoidan is used as an antioxidant. It is also used as anticoagulant, anti-inflammatory, antiviral, anti-angiogenic, antitumor; and antithrombotic agent.
- Fucoidan is also being increasingly used in skincare and cosmetics industries. It possesses various beneficial properties for skin elasticity retention and skin water retention. As a result, it is used in the production of lotions, face creams, and shampoos.
- Recent research and development activities in anticancer drugs and synergistic effect of fucoidan with chemotherapeutic agents to eliminate tumors cells are anticipated to drive the global fucoidan market in the near future
- Heavy metal contamination of seaweed due to oceanic pollution degrades the purity of fucoidan. This is one of the key restraints of the global fucoidan market.
Powder Form Segment to Offer Lucrative Opportunities
- Based on form, the global fucoidan market can be bifurcated into powder and capsule. Increase in demand for dietary supplements and skin care products is driving the consumption of fucoidan across the globe.
- The powder segment is anticipated to hold major share of the market during the forecast period. The segment is anticipated to witness rapid growth, due to the rise in consumption of fucoidan in various end-use industries.
Mozuku Seaweed Type Segment to Expand Significantly
- Based on seaweed type, the global fucoidan market can be segmented into mozuku, wakame, kombu, and others.
- The mozuku segment is estimated to account for prominent share of the market during the forecast period. The segment is also anticipated to expand at a rapid pace during the forecast period.
Pharmaceutical Application Segment to Witness Attractive Opportunities
- Based on application, the global fucoidan market can be divided into pharmaceutical, dietary supplements, cosmetics, veterinary medicines, fertilizers, food & beverages, and others
- The pharmaceutical segment held major share of the global fucoidan market in 2019. This trend is anticipated to continue during the forecast period.
- Fucoidan is used in various medicinal applications. It boosts the immune system, reduces inflammation, prevents cancer, lowers blood pressure, and prevents blood clots and infections. This is likely to boost the consumption of fucoidan in the pharmaceutical industry, thereby driving the global fucoidan market.
Asia Pacific to Offer Attractive Opportunities to Fucoidan Market
- In terms of region, the global fucoidan market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific has been holding significant share of the global fucoidan market since the last few years. The trend is projected to continue during the forecast period. China and Japan were key consumers of fucoidan in Asia Pacific in 2019.
- The market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. The market in China and Japan is projected to expand at a rapid pace in the near future.
- North America is also anticipated to hold vital share of the global fucoidan market during the forecast period. The U.S. constituted major share of the market in North America in 2018.
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Key Players Operating in Global Market
The global fucoidan market is moderately consolidated, with several regional and global manufacturers operating in the market. Prominent players operating in the market are investing in mergers, acquisitions, expansion, and new product launches in order to maintain their leading position.
Key players operating in the global fucoidan market include:
- Yaizu Suisankagaku
- Fucoidan Force
- Haerim Fucoidan
- Qingdao Rongde
Global Fucoidan Market: Research Scope
Global Fucoidan Market, by Form
Global Fucoidan Market, by Seaweed Type
Global Fucoidan Market, by Application
- Dietary Supplements
- Veterinary Medicines
- Food & Beverages
Global Fucoidan Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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4. Which regions might see the demand maturing in certain segments in near future?
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.