Global Seafood Extract Market Size, Share, Analysis Report - Forecast 2032

Seafood Extract Market Insights

According to Market Research Store, the global seafood extract market size was valued at around USD 1320.94 million in 2023 and is estimated to reach USD 2120.54 million by 2032, to register a CAGR of approximately 5.4% in terms of revenue during the forecast period 2024-2032.

The seafood extract report provides a comprehensive analysis of the market, including its size, share, growth trends, revenue details, and other crucial information regarding the target market. It also covers the drivers, restraints, opportunities, and challenges till 2032.

To Get more Insights, Request a Free Sample

Global Seafood Extract Market: Overview

Seafood extract is a concentrated substance derived from various marine sources such as fish, shellfish, crustaceans, and seaweed. It captures the natural flavors, nutrients, and bioactive compounds of seafood and is widely used to enhance the taste and nutritional profile of a range of food products. Typically, available in forms like liquid, powder, or paste, seafood extracts are popular in soups, sauces, seasonings, ready-to-eat meals, and dietary supplements. The extraction process involves hydrolysis, enzymatic treatment, or fermentation to preserve the original taste and nutritional benefits, including high levels of amino acids, minerals, and omega-3 fatty acids. Seafood extracts are also gaining attention in the pharmaceutical and cosmetics industries for their potential antioxidant and anti-inflammatory properties.

Key Highlights

• The seafood extract market is anticipated to grow at a CAGR of 5.4% during the forecast period.
• The global seafood extract market was estimated to be worth approximately USD 1320.94 million in 2023 and is projected to reach a value of USD 2120.54 million by 2032.
• The growth of the seafood extract market is being driven by rising consumer demand for natural and functional food ingredients.
• Based on the product type, the liquid extracts segment is growing at a high rate and is projected to dominate the market.
• On the basis of source of raw material, the fish-based extracts segment is projected to swipe the largest market share.
• In terms of application, the food & beverage segment is expected to dominate the market.
• Based on the formulation type, the conventional extracts segment is expected to dominate the market.
• In terms of distribution channel, the direct sales segment is expected to dominate the market.
• By region, North America is expected to dominate the global market during the forecast period.

Seafood Extract Market: Dynamics

Key Growth Drivers:

• Rising Demand for Natural and Functional Ingredients: Increasing consumer preference for clean-label and nutrient-rich food products is driving demand for seafood extracts, which are rich in proteins, omega-3 fatty acids, and minerals.
• Growth in Processed and Ready-to-Eat Food Consumption: The surge in consumption of convenience foods, particularly those with authentic seafood flavoring, is boosting the use of seafood extracts in the food processing industry.
• Expanding Applications Across Industries: Seafood extracts are gaining traction in a variety of sectors including pharmaceuticals, cosmetics, animal feed, and dietary supplements due to their bioactive compounds and health benefits.
• Increasing Health Awareness: Rising awareness of the health benefits associated with marine-based ingredients is prompting consumers to seek products containing seafood extracts.
• Technological Advancements in Extraction Techniques: Innovations in enzymatic and supercritical fluid extraction methods have improved yield, purity, and efficiency, making seafood extracts more appealing to manufacturers.

Restraints:

• High Production Costs: The extraction process can be capital-intensive, especially when using advanced technologies or maintaining product purity, which may restrict entry for smaller players.
• Limited Raw Material Availability: Seasonal and regional availability of marine resources affects the consistent supply of raw materials, potentially impacting production and pricing.
• Allergen Concerns Among Consumers: Seafood is a known allergen, and products containing seafood extracts must be labeled accordingly, limiting their use among sensitive consumers.

Opportunities:

• Emerging Demand in Nutraceuticals and Functional Foods: The growing market for health supplements and functional foods provides significant opportunities for the inclusion of marine-based extracts.
• Rising Popularity of Asian Cuisine Globally: As Asian flavors and seafood dishes gain international popularity, the demand for seafood-based seasonings and extracts is expected to increase in the global foodservice sector.
• Sustainable and Ethical Sourcing Initiatives: Companies focusing on eco-friendly and sustainable sourcing of seafood are likely to gain consumer trust and create differentiation in a competitive market.
• Product Innovation and Diversification: Development of new seafood extract products such as powders, pastes, and encapsulated forms can cater to varied industry needs and broaden the customer base.

Challenges:

• Stringent Regulatory Frameworks: Compliance with food safety, environmental, and marine resource regulations can be complex and varies significantly across regions, posing challenges for global expansion.
• Shelf Life and Storage Limitations: Seafood extracts are prone to oxidation and spoilage if not processed or stored properly, which can affect product quality and logistics.
• Consumer Perception and Acceptance: Some consumers may perceive seafood extracts as overly processed or unfamiliar, especially in markets where seafood is not a dietary staple.
• Environmental Concerns Around Overfishing: Sustainability concerns and public scrutiny over marine resource depletion could impact sourcing practices and long-term industry growth.

Seafood Extract Market: Report Scope

This report thoroughly analyzes the Seafood Extract Market, exploring its historical trends, current state, and future projections. The market estimates presented result from a robust research methodology, incorporating primary research, secondary sources, and expert opinions. These estimates are influenced by the prevailing market dynamics as well as key economic, social, and political factors. Furthermore, the report considers the impact of regulations, government expenditures, and advancements in research and development on the market. Both positive and negative shifts are evaluated to ensure a comprehensive and accurate market outlook.

Seafood Extract Market: Segmentation Insights

The global seafood extract market is divided by product type, source of raw material, application, formulation type, distribution channel, and region.

Segmentation Insights by Product Type

Based on product type, the global seafood extract market is divided into liquid extracts, powdered extracts, granular extracts, and paste extracts.

The Liquid Extracts segment holds the dominant position in the seafood extract market. Liquid extracts are widely preferred due to their versatility, ease of incorporation into various food applications, and their ability to preserve the authentic flavor profile of seafood. These extracts are commonly used in soups, sauces, marinades, ready-to-eat meals, and seasoning blends. The ability of liquid extracts to retain the natural taste and aroma makes them highly desirable for the food processing industry, which seeks consistent flavor quality and convenience in manufacturing processes.

Following closely is the Powdered Extracts segment. Powdered seafood extracts offer significant advantages in terms of shelf life, storage, and transportation. Their lightweight nature and ease of handling make them attractive for a variety of food applications, particularly in snack foods, instant noodles, and seasoning mixes. Powdered extracts can easily be reconstituted, maintaining a strong seafood flavor without the perishability of liquid forms. Their stability under different environmental conditions further enhances their appeal to manufacturers seeking long-term storage solutions.

The Granular Extracts segment occupies a smaller but noteworthy share of the market. Granular extracts are often used where controlled release of flavor is desired, such as in bouillon cubes, savory bakery products, and some specialized culinary applications. Their granular form allows for a slower, more even distribution of flavor during cooking. Although they are less versatile than liquid or powdered forms, they offer unique benefits for specific products that require textural consistency and gradual flavor infusion.

Finally, Paste Extracts represent the least dominant segment in the market. Paste seafood extracts are primarily used in premium or gourmet food products, such as high-end sauces, dressings, and specialty ethnic cuisines where a rich, concentrated seafood flavor is required. While pastes deliver intense taste and quality, their higher viscosity, handling difficulty, and shorter shelf life limit their use to niche markets rather than mass production, resulting in a smaller market share compared to other product types.

Segmentation Insights by Source of Raw Material

On the basis of source of raw material, the global seafood extract market is bifurcated into fish-based extracts, shellfish-based extracts, algae & seaweed extracts, and crustacean extracts.

The Fish-Based Extracts segment is the most dominant in the seafood extract market. Fish extracts are widely used across various food industries due to their broad availability, relatively lower cost, and strong consumer familiarity. Commonly sourced from species such as anchovies, tuna, cod, and sardines, these extracts are favored for their umami-rich flavor profile and nutritional value. They are extensively utilized in sauces, soups, broths, flavor enhancers, and nutritional supplements. The high protein content and omega-3 fatty acids in fish-based extracts further drive their demand in both culinary and health-conscious applications.

Coming next in prominence are the Shellfish-Based Extracts. These extracts, typically derived from sources like clams, mussels, oysters, and scallops, are valued for their rich and distinctive seafood flavor. Shellfish-based extracts are frequently used in gourmet and specialty food products, especially in Asian cuisine and luxury food markets. Their unique taste makes them ideal for enhancing premium soups, bisques, and condiments. However, the allergenic nature of shellfish and regulatory labeling requirements may slightly limit broader adoption, despite their flavorful appeal.

The Crustacean Extracts segment follows, comprising extracts from shrimp, crab, and lobster. These are highly sought after in high-end food applications due to their intense and luxurious flavor profiles. Crustacean extracts are commonly used in concentrated sauces, bouillons, and culinary bases. Their usage is somewhat constrained by cost factors and allergen concerns, which restrict their market share compared to more widely used fish-based extracts. Nevertheless, they play a crucial role in the gourmet food sector.

Lastly, Algae & Seaweed Extracts form the least dominant segment in this category. Despite being less prominent in terms of volume, this segment is gaining interest due to its natural, plant-based profile, which appeals to the growing vegetarian and vegan demographic. Seaweed extracts, rich in minerals and umami flavor, are commonly used in health supplements, functional foods, and natural flavor enhancers. However, limited consumer awareness and higher production costs compared to traditional seafood sources have slowed mass-market adoption, keeping this segment in a niche position.

Segmentation Insights by Application

On the basis of application, the global seafood extract market is bifurcated into food & beverage industry, flavoring agents, preservatives, nutritional supplements, pharmaceuticals, dietary supplements, vitamins & minerals, functional foods, cosmetics & personal care, skin care products, hair care products, and, scents & fragrances.

The Food & Beverage Industry is the most dominant application segment for seafood extracts. Within this industry, seafood extracts are extensively used to enhance the taste and nutritional profile of products like soups, sauces, ready meals, snack foods, and seasonings. The natural umami flavor provided by seafood extracts fits perfectly with the growing consumer demand for clean-label and natural flavoring solutions. Their rich taste and health benefits, including high protein and mineral content, make them highly sought after by food manufacturers aiming for both premiumization and healthier product positioning.

Closely following are the Flavoring Agents segment. Seafood extracts serve as natural flavor enhancers, particularly in savory food products. As consumers increasingly move away from synthetic additives toward natural alternatives, the demand for seafood-based flavoring agents has surged. These extracts provide authentic seafood notes to various processed foods, seasonings, and snack products, making them a preferred choice for clean and authentic taste formulations.

The Preservatives segment comes next. Seafood extracts possess natural preservative properties, particularly due to their antimicrobial peptides and antioxidants, which help extend the shelf life of perishable food products. This functionality is increasingly appealing to manufacturers who want to reduce chemical preservatives and use more natural ingredients, although this application remains secondary compared to flavoring and nutritional uses.

Following preservatives are Nutritional Supplements, where seafood extracts are used for their concentrated source of essential amino acids, omega-3 fatty acids, and minerals. Their use in supplements supports joint health, cardiovascular wellness, and general nutrition, but this application remains more specialized and thus occupies a smaller market share compared to mainstream food uses.

Pharmaceuticals also make use of seafood extracts, particularly in developing therapeutic formulations aimed at cardiovascular health, anti-inflammatory treatments, and wound healing. However, regulatory complexities and high development costs keep this segment relatively niche.

Dietary Supplements and Vitamins & Minerals are emerging applications for seafood extracts, focusing on delivering specific nutritional benefits such as iodine from seaweed extracts or calcium from fish bones. Though growing steadily, these remain less dominant than their food and beverage applications due to narrower consumer targeting and higher cost sensitivity.

Functional Foods represent a growing but still limited application area. Seafood extracts are added to foods marketed for specific health benefits, such as improved digestion or cardiovascular support. The functional food trend is gaining momentum globally but is still developing relative to mainstream uses.

Moving to personal care, Cosmetics & Personal Care applications, including Skin Care Products and Hair Care Products, are niche but expanding. The marine bioactive compounds in seafood extracts are valued for their anti-aging, moisturizing, and revitalizing properties. Their high content of collagen, minerals, and antioxidants makes them desirable for premium skin and hair care formulations, but these uses are far smaller in volume compared to food and supplement markets.

Lastly, Scents & Fragrances occupy the least dominant position. While seafood-derived compounds are sometimes used in very specialized fragrances to evoke marine and oceanic themes, their use is rare and highly niche compared to botanical or synthetic sources.

Segmentation Insights by Formulation Type

On the basis of formulation type, the global seafood extract market is bifurcated into conventional extracts, organic extracts, fermented extracts, and enzymatically modified extracts.

The Conventional Extracts segment is the most dominant in the seafood extract market. These are the standard formulations processed using traditional extraction methods without any specific organic, enzymatic, or fermentation enhancements. Conventional extracts are widely used across the food & beverage, flavoring, and preservative industries due to their cost-effectiveness, ease of mass production, and broad consumer acceptance. Their long-standing presence in the market, coupled with a consistent supply chain and regulatory familiarity, reinforces their dominance across a wide array of applications.

Next in line are the Organic Extracts, which are rapidly gaining traction due to growing consumer awareness of clean-label and environmentally friendly products. These extracts are derived from seafood sourced through certified organic practices and processed without synthetic chemicals or additives. They appeal particularly to the health-conscious and eco-aware demographic, often commanding premium pricing. Although their production involves stricter compliance and higher costs, the demand for organic options in both the food and personal care segments is driving notable growth in this segment.

The Fermented Extracts segment follows, leveraging biotechnological processes where beneficial microorganisms break down seafood proteins and enhance nutrient bioavailability. These extracts are especially valued in nutritional supplements and functional foods, as fermentation can improve digestibility and introduce probiotic properties. However, the niche appeal and complexity of the fermentation process have limited their mass-market penetration, keeping them behind conventional and organic variants in terms of volume.

Finally, Enzymatically Modified Extracts are the least dominant but highly specialized segment. These extracts are produced using specific enzymes to tailor the protein or peptide structure, enhancing taste, solubility, or nutritional profile. They are used in advanced applications such as functional foods, sports nutrition, and medical nutrition formulations. While enzymatically modified extracts offer high potential in targeted health and dietary products, their production cost, technical expertise requirements, and niche use cases limit their overall market share.

Segmentation Insights by Distribution Channel

On the basis of distribution channel, the global seafood extract market is bifurcated into direct sales, online retail, distributors & wholesalers, and supermarkets & hypermarkets.

The Direct Sales segment is the most dominant distribution channel in the seafood extract market. This channel is especially prevalent in B2B transactions, where manufacturers of food products, flavoring agents, pharmaceuticals, and cosmetics purchase seafood extracts directly from producers. Direct sales allow for better customization, pricing negotiations, quality control, and long-term supply agreements. Large-scale buyers often prefer this model for bulk procurement and specialized product requirements, making it the leading channel in terms of volume and value.

Distributors & Wholesalers come next, playing a crucial role in bridging the gap between producers and smaller-scale food processors, retailers, or regional markets. These intermediaries offer a wide product range and facilitate market penetration into areas where manufacturers may lack direct presence. Their established logistics networks and relationships with various industry segments make them a vital part of the supply chain, especially in emerging markets and for businesses without direct sourcing capabilities.

The Online Retail segment is growing rapidly due to digital transformation across the food ingredients and health supplement industries. E-commerce platforms, both B2B (like Alibaba) and B2C (like Amazon), are increasingly used to market and sell seafood extracts, particularly in powdered or capsule form. Small manufacturers and health-conscious consumers prefer online retail for its convenience, product variety, and direct-to-consumer accessibility. While currently smaller than direct or wholesale channels, this segment is expanding quickly, driven by the growth of digital platforms and global reach.

Lastly, Supermarkets & Hypermarkets represent the least dominant distribution channel. These outlets typically focus on finished consumer goods rather than raw or semi-processed ingredients like seafood extracts. However, they do carry some retail-ready products, especially dietary supplements, sauces, or health beverages that contain seafood extracts as ingredients. Due to the limited scope and lower volume of such specialized items, this channel remains the smallest in terms of market share.

Seafood Extract Market: Regional Insights

• North America is expected to dominates the global market

North America is the most dominant region in the seafood extract market, driven by the high demand for natural and functional food ingredients across a wide range of processed food applications. The growing preference for seafood-based flavor enhancers in soups, sauces, and ready-to-eat meals, coupled with the presence of major food and beverage companies, supports robust market growth. The United States leads within the region, benefiting from advanced food processing infrastructure, health-conscious consumer trends, and a strong distribution network that facilitates the widespread use of seafood extracts.

Asia Pacific holds the second-largest share in the seafood extract market, supported by a deep-rooted cultural preference for seafood and traditional dishes that incorporate seafood flavors. Rapid urbanization, rising disposable incomes, and an expanding middle-class population drive increased consumption of convenience foods enriched with seafood extracts. Countries like China, Japan, South Korea, and Thailand are major contributors to regional growth, with the food processing industry increasingly integrating seafood extracts to cater to evolving consumer tastes.

Europe captures a substantial portion of the seafood extract market, fueled by heightened consumer interest in clean-label and sustainable food ingredients. The demand for authentic and natural seafood flavors in gourmet and packaged foods is particularly strong in countries like the United Kingdom, France, Spain, and Italy. Regulatory emphasis on natural additives and the ongoing innovation by food manufacturers to align with consumer preferences for health and sustainability continue to promote the use of seafood extracts across the region.

Middle East and Africa show moderate growth in the seafood extract market, driven by urbanization and a rising appetite for diverse and convenient food options. Countries such as Saudi Arabia and the United Arab Emirates are enhancing their food processing sectors, creating new opportunities for seafood extract incorporation. While the cultural preference for seafood aids market demand, challenges like limited seafood availability and supply chain complexities moderately temper the growth pace compared to more mature markets.

Latin America holds a smaller but growing share of the seafood extract market, with Brazil, Mexico, and Chile emerging as key contributors. Rising consumer awareness of natural food ingredients and a growing processed food industry are important factors fueling demand. Although the region faces infrastructural and economic challenges, increasing urbanization and shifting dietary patterns towards healthier and more flavorful food products provide a positive outlook for future market expansion.

Recent Developments:

• In July 2023, CMFRI launched a seaweed-based nutraceutical to boost post-Covid immunity, featuring a natural blend of bioactive ingredients extracted through eco-friendly green technology for enhanced health benefits.

Seafood Extract Market: Competitive Landscape

The report provides an in-depth analysis of companies operating in the seafood extract market, including their geographic presence, business strategies, product offerings, market share, and recent developments. This analysis helps to understand market competition.

Some of the major players in the global seafood extract market include:

• Activ International Group
• ARIAKE
• North Marine Ingredients
• Lýsi hf
• Kanegrade Ltd
• Nikken Foods USA
• Arjuna Natural Pvt Ltd
• SUBONEYO Chemicals Pharmaceuticals P Limited
• Norwegian Fish Oil AS
• Mitsubishi International Polymer Trade Corporation

The global seafood extract market is segmented as follows:

By Product Type

• Liquid Extracts
• Powdered Extracts
• Granular Extracts
• Paste Extracts

By Source of Raw Material

• Fish-Based Extracts
• Shellfish-Based Extracts
• Algae and Seaweed Extracts
• Crustacean Extracts

By Application

• Food and Beverage Industry
• Flavoring Agents
• Preservatives
• Nutritional Supplements
• Pharmaceuticals
• Dietary Supplements
• Vitamins and Minerals
• Functional Foods
• Cosmetics and Personal Care

By Formulation Type

• Conventional Extracts
• Organic Extracts
• Fermented Extracts
• Enzymatically Modified Extracts

By Distribution Channel

• Direct Sales
• Online Retail
• Distributors and Wholesalers
• Supermarkets and Hypermarkets

By Region

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East Africa

Frequently Asked Questions