The global seaweed protein market is expected to witness growth at a CAGR of 11.3% in the forecasted period and to be valued more than USD 971.7 Mn by 2032.
The world's population is expected to grow by more than a 1/3 (2.3 billion people) by 2050, requiring a 70% increase in the food supply. Even though the world's population has doubled in half a century, new agricultural food production technology and an increase in average per capita income have resulted in a reduction in world hunger. Food production, on the other hand, is more challenging than it has ever been on a global scale. Previously used methods of intensifying agriculture will soon be obsolete due to their high environmental impact trade-offs, such as destabilization natural ecosystems and threatening biodiversity, production of greenhouse gases from land clearing, terrestrial ecosystems, animal livestock production, freshwater, and nutrient run-off from fertilizer damaging marine.
Protein, in particular, is one of the most important nutrients that will be scarce in the future. To meet consumer demand and projected global protein requirements, alternative protein sources and manufacturing methods are necessary.
Key Takeaways from Market Study
- The seaweed protein market is expected to expand at CAGR of 11.3% over the forecasted period.
- Among the source, red seaweed is dominating the segment holding around 52.7% of the revenue and it is expected to grow with CAGR of 8.9% over the forecasted period.
- Among the extraction method segment, conventional method is expected to dominate the seaweed protein market holding more than 43.5% revenue share and it is expected to grow with around 8.6% CAGR over the forecast period.
- Food & beverage is dominating the application segment holding around 42.1% in 2022 and it is expected to grow with CAGR of 6.9% over the forecasted period.
“The seaweed protein market is expected to grow at a bolstering rate owing to the future demand for alternate protein most human applications, such as food, supplements, and cosmetics, choose seaweed protein-based products since they have no negative side effects.” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers of global seaweed protein market are majorly focusing on research & development in order to develop innovative and unique product offering. In addition to this these key players in the seaweed protein market are also concentrating on merger, acquisition and joint ventures to expand their geographical presence and also to increase the existing production capacity.
• 6 May 2021, Schiedam - Last year, The Seaweed Company began a pilot project off the coast of the Netherlands at the Offshore Test Site. The goal of the pilot is to put the 'Cultivator's seaweed infrastructure to the test in the severe conditions of the North Sea. The Seaweed Company, one of the pilot's partners, is overjoyed to report that the installation exceeded expectations during the storm in March.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global seaweed protein market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on Source (Red seaweed, Green seaweed, Brown seaweed), by Extraction method (Conventional Method, Current Method), by Application (Food & Beverages, Industrial Application, Animal Feed, Aquaculture, Cosmetics and Personal Care) across seven major regions of the world.
Information Source: https://www.futuremarketinsights.com/reports/seaweed-protein-market
According to the new market research report "Seaweed Protein Market by Source (Red, Brown, Green), Extraction Process (Conventional Method, Current Method), Application (Food, Animal Feed & Additives, Personal Care & Cosmetics), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the market size is estimated to be valued at USD 465.5 million in 2020.
The shift towards more nutritional food options have increased the demand for seaweed derived food products across the globe.
Seaweeds or macroalgae are a rich source of protein and contain all sources of essential amino acids at various concentrations.
They act as a suitable alternative for vegan consumers and for those who are allergic to dairy whey protein and eggs.
The protein content in some seaweed are similar to those of traditional protein sources such as egg, meat, milk, and soybean.
The yield of protein is higher from seaweeds when compared to terrestrial crops, such as wheat, soybean, and pulse legumes.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=194056009The red seaweed segment, by source is projected to account for the largest share, during the forecast period.Red seaweeds have almost 47% weight of dry matter.
