The major factors affecting the Seafood Extracts market is the innovation of new products in the market
Hyderabad, India -- (SBWIRE) -- 02/06/2018 -- Any type of aquatic life which is considered to be food for humans comes under the area of seafood. It majorly includes shellfish and fish. On processing sea life animals such as fish, shellfish, crab, lobster etc., seafood extracts are obtained.
As seafood is abundant of proteins it makes that a healthy source of food for human beings. In addition to maintaining balance to diet and adding flavour to our food, it also helps in prevention of several diseases.
Seafood extracts are processed and available in a number of forms including paste, powder, oil and others. Fish shell extract is used in cosmetics owing to its increase in demand. Seafood extracts' uses also include in cosmetic, food & paper, pharmaceutical and several other industries. Recent changes in the cosmetic industry also include the usage of seafood extracts resulting in the rise of demand for seafood extracts.
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The major factor driving the Seafood extracts are growing awareness of health consciousness and innovative changes in products which include these extracts and research in the industry. Another driver for the market is the rise in demand for the supermarket stocks and cosmetic products which involves the usage of seafood extracts.
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The key challenge restraining the market for seafood extracts is that the continuous extraction of aquatic life creates an ecological imbalance concerns. Other than this there are no major challenges restraining the growth of the market.
In Seafood Extracts Market there are many major players. Some of them are Nikken Foods, MC Food Specialties Inc., Agri Bio Care India, Suboneyo Chemicals Pharmaceuticals (P) Limited, Sar Agrochemicals & Fertilizers Pvt. Ltd., Acadian Seaplants Ltd., Manidharma Biotech Private Limited, Kakusan Foods Co., Sushil Corporation and Canada Oceanic.
North America is holding the largest market share currently for the seafood extracts market as they are the major consumers of seafood extracts which increases the demand for the market. It occupied more than 36% of the market share in 2016, followed by Europe.
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Asia-Pacific is expected to grow rapidly with a high growth rate value for the region in the aforementioned forecast period. Another promising region for the market is Latin America, which is expected to show high growth rates in coming years.
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