Seaweed-based Skincare Products Market Size (2024 – 2030)

The Seaweed-based Skin Care Products Market was valued at USD 500 million in 2023. Over the forecast period of 2024-2030, it is projected to reach USD 949.83 million by 2030, growing at a CAGR of 9.6%.

Seaweed, also known as macroalgae, encompasses thousands of species of large, multicellular marine algae. This category includes various types of Rhodophyta (red), Phaeophyta (brown), and Chlorophyta (green) macroalgae. Certain species of seaweed, like kelps, provide crucial nursery habitats for fisheries and other marine life, thereby safeguarding food sources. Other species, such as planktonic algae, are instrumental in carbon capture and are responsible for producing at least 50% of the Earth's oxygen.

Due to the high concentration of bioactive components in commercial seaweeds, their use in the cosmetic industry is on the rise. These seaweeds are employed in the production of creams, essential oils, shampoos, bath salts, face masks, and other skincare products. Consequently, the increasing demand for various skincare products is driving the growth of the global commercial seaweed market. Additionally, the antioxidant properties of commercial seaweeds provide anti-aging and anti-inflammatory benefits, making them valuable in skin treatment, skincare, and hair care products. These factors are contributing to the expansion of the commercial seaweed market.

Key Market Insights:

Seaweed farming has emerged as a global agricultural practice, supplying food, and raw materials for various chemical applications (including carrageenan), cattle feed, and fertilizers. Given their crucial role in marine ecosystems and their ability to absorb carbon dioxide, there has been growing interest in cultivating seaweed as a potential strategy for mitigating climate change through carbon dioxide biosequestration. This practice also offers additional benefits such as reducing nutrient pollution, enhancing habitats for coastal aquatic species, and alleviating local ocean acidification. The IPCC Special Report on the Ocean and Cryosphere in a Changing Climate advocates for "further research attention" to explore seaweed farming as an effective mitigation approach.

Seaweed-based Skin Care Products Market Drivers:

Plant-based items drive market growth.

With the increasing perception that plant-based products are safer and healthier than those derived from animals, these items are gaining popularity across various industries, including the food and cosmetics sectors. The unique properties of seaweed have made it a favored ingredient in skincare products. This trend has spurred the creation of new seaweed-based skincare products, such as seaweed masks and seaweed creams. These products are becoming increasingly popular among consumers seeking natural and sustainable skincare solutions.

The benefits of seaweeds to the skin increase the demand in the market.

Seaweed is rich in vitamins K, B, A, and E, which contribute to enhancing skin tone, texture, and elasticity. Its high Vitamin C content promotes collagen production, helping to plump the skin and smooth fine lines. Additionally, seaweed is packed with humectants, making it effective in hydrating and retaining skin moisture.

The active components extracted from seaweed serve as antioxidants, antibacterial agents, whitening agents, and anti-aging and anti-acne solutions, leading to their increased use in skincare product formulations.

Advanced Anti-aging Qualities of Products increases the growth.

The use of algae in personal care items is expected to rise due to the increasing prevalence of personal care and cosmetics products containing algae. Emerging trends in the beauty industry, such as vegan cosmetics and organic skincare, are being driven by higher disposable incomes, growing demand for luxury cosmetics, and increasing beauty awareness.

In recent years, personal care and cosmetics companies have expanded their use of various algae species, including brown kelp, red and green seaweed, and spirulina, due to their anti-aging properties. The high concentration of antioxidants in these algae provides effective protection against free radicals, thereby delaying the aging process. Consequently, these factors are anticipated to drive the demand for algae products throughout the forecast period.

Seaweed-based Skincare Products Market Restraints and Challenges:

High Cost can hinder market growth.

The high price of seaweed-based products poses a challenge for many consumers, making them difficult to afford. Additionally, a lack of awareness about the skin benefits of seaweed further hampers market growth.

Seaweed-based Skincare Products Market Opportunities:

Seaweed is under research for its potential as a feedstock for bioplastics due to its rapid growth and the ability to be produced in large quantities using sustainable methods. Additionally, seaweed is being explored for its applications in the biotechnology and pharmaceutical industries. Seaweed extracts have demonstrated antiviral, antibacterial, and anti-inflammatory properties, making them promising candidates for developing new drugs and treatments.

SEAWEED-BASED SKINCARE PRODUCTS MARKET REPORT COVERAGE:

Seaweed-based Skincare Products Market Segmentation: By Type

• Red Algae

• Brown Algae

• Blue Green Algae

• Chlorella

The red seaweed segment currently leads the global market. Varieties such as Nori, dulse, and laver are rich in vitamins, minerals, antioxidants, and anti-inflammatory compounds, and are excellent sources of protein and dietary fiber. Red seaweed's functional properties and versatility make it valuable across the food, pharmaceutical, and cosmetic industries.

Red seaweed is favored for its distinctive taste and texture, making it a popular ingredient in the food industry, especially as a seasoning for soups and salads. Its widespread use in sushi as a wrapping material has further boosted its demand. The combination of these culinary uses and the growing consumer awareness of its health benefits has cemented red seaweed's dominance in the market.

Seaweed-based Skincare Products Market Segmentation: By Application

• Face

• Neck

• Foot

• Others

The increasing demand for sunscreen lotion has led to the increased use of algae-derived beta carotene, which is highly effective in skincare formulations for protecting against UVA-induced damage. Additionally, cosmetic products containing beta carotene are known to reduce oxidative skin damage and enhance skin appearance.

Seaweed is also utilized in various facial masks. Whole seaweed is milled and added to bath water for skin treatment. Crushed seaweed or seaweed paste is incorporated into a wide range of products, including facial masks, body gels, creams, and shampoos. Carrageenans, derived from seaweed, are used in toothpaste, shampoos, hair conditioners, shaving products, and skin cleaners. Alginates, another seaweed extract, are added to many types of cosmetics.

Seaweed-based Skincare Products Market Segmentation: By Distribution Channel

• Supermarkets/Hypermarkets

• Convenience/Grocery Stores

• Specialist Retailers

• Online Channels

• Other Distribution Channels

Online shopping platforms offer an extensive array of beauty and skincare products for men, women, and children. These platforms are known for providing attractive deals and discounts on skincare products. Unlike brick-and-mortar stores, which often struggle to compete with the lower prices offered online, e-commerce sites provide cost savings through bundled package deals, combo discounts, and loyalty program points. This makes online shopping a cost-effective option for purchasing skincare products. Additionally, the convenience of being able to shop for favorite items from any location at any time further enhances the appeal and prominence of the online segment in the market.

Seaweed-based Skincare Products Market Segmentation- by Region

• North America

• Europe

• Asia Pacific

• Middle East & Africa

• Latin America

North America, particularly the United States, will continue to hold a significant role that cannot be overlooked in the development of the Seaweed Cosmetics market. Any shifts or alterations in policies or trends within the United States may have a substantial impact on the overall trajectory of the market. The North American market is projected to experience substantial growth during the forecast period, fueled by the widespread adoption of advanced technologies and the presence of key industry players in the region, which is expected to create abundant growth opportunities.

Similarly, the Asia-Pacific region is anticipated to witness growth in the coming years. Countries like China, Japan, and South Korea have a long history of utilizing seaweed for various purposes, including pharmaceuticals, personal care, agriculture, domestic applications, animal feed, and food and beverages. This historical usage, coupled with ongoing advancements and innovations, is expected to contribute to the expansion of the Seaweed Cosmetics market in the Asia-Pacific region.

COVID-19 Pandemic: Impact Analysis

The COVID-19 pandemic had a significant impact on various industries and professions, with the skincare and cosmetics sectors facing unique challenges. As consumers spent more time at home and adopted the practice of wearing masks in public, the skincare and cosmetics industries experienced notable disruptions. The use of masks altered the dynamics of applying lip and face cosmetics. The pandemic's effects were profound and far-reaching, influencing market trends, employment patterns, and the overall trajectory of the cosmetic industry worldwide. During this period, consumers showed an increased preference for purchasing cosmetics online, highlighting the importance of authenticity and trust in both products and online stores.

Latest Trends/ Developments:

Planet Botanicals, based in Maine, is excited to announce that its founder, Michele Gilfoil, will be speaking at the upcoming Sustainable Cosmetics Summit, taking place from June 4-6, 2024, in New York City. Michele will leverage her extensive experience in developing the company's Seaweed Beauty™ skincare collection to share insights on the benefits and sustainability aspects of seaweed in cosmetics.

Macro Oceans, a seaweed biotech startup based in California, has introduced a low-carbon cosmetic bioactive compound. Their Hydrating Marine Polysaccharide ingredient offers clinically proven hydration for skin and hair care products. Macro Oceans boasts a zero-waste process, utilizing all parts of the seaweed for either bioactive purposes or in the production of food items or plant-based packaging. They highlight that farmed seaweed serves as a naturally regenerative carbon-negative crop, positively impacting water quality and wild ecosystems.

Yemoja has unveiled EPS-Revive, an external polysaccharide sulfate (EPS) topical beauty ingredient derived from a red algae species, as part of a new line of algae-based skincare products introduced in April 2021. This protein-rich, vitamin-rich, and antioxidant-rich red algae ingredient aids in maintaining skin moisture and restoring natural hydration levels.

Key Players:

These are top 10 players in the Seaweed-based Skincare Products Market: -

1. The Body Shop

2. Qingdao Nanshan Seaweed

3. AlgAran Seaweed Products

4. Making Cosmetics

5. Green fresh

6. Ceamsa

7. Yash Chemicals

8. Aromantic

9. Tianjin Humate International

10. Shemberg