Sales in the Europe duckweed protein market reached US$ 1.2 Mn in 2021. Growing demand for plant-based foods, along with increasing inclination towards high protein foods are chief factors boosting the market. Driven by this, sales are projected to increase at 1.8% CAGR over the assessment period.
The global duckweed protein market size is estimated to be US$ 62.9 Mn and is forecast to grow at a 9.1% CAGR between 2022 and 2026. Over the last decade, there has been a spike in preference for high-protein foods, which is expected to drive sales of duckweed protein.
Duckweed protein sales will account for 1.1% to 1.8% of the global demand for plant-based protein, finds Future Market Insights (FMI). Product developments by key manufacturers is the market that are aligned with consumer preference for healthy foods will continue pushing sales in the market over the forecast period.
Growing popularity of plant-based foods is expected to boost sales of duckweed protein in Europe. An increasing number of customers are switching to a plant-based diet, either to reduce their calorie consumption or to improve the quality of the food they consume.
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Consumers are either going vegan or adopting a flexitarian lifestyle. This is resulting in higher demand for plant-based alternatives and protein sources, which is expected to spur demand for duckweed protein.
Key Takeaways:
- The global duckweed protein market will reach US$ 88.4 Mn in 2026.
- Sales are projected to increase at a 9.1% CAGR from 2022 to 2026.
- Europe accounted for 1.5% to 2.0% of the global duckweed protein market share approximately in 2021.
Competition Landscape
Leading players operating in the Europe duckweed protein market are launching innovative products aligning with the growing demand for plant-based protein alternatives. In addition to this, players are also investing in acquisitions, mergers and collaborations to expand their manufacturing capacity and to improve capabilities by incorporating cutting-edge technologies.
Some of the leading companies offering duckweed protein are Parabel USA Inc., Pontus Water Lentils, Barentz B.V., Hinoman, Ltd, Plantible Foods, Inc. Lempro Inc., Seta Organics, and others.
Europe Duckweed Protein Market By Category:
By Form:
- Fresh Duckweed Protein
- Dried Duckweed Protein
Species:
- Wolffiella
- Spirodela
- Lemna
- Landoltia
- Wolffia
End Use:
- Food Processing
- Protein/Dietary Supplements
- Energy Bars
- Snacks & Salads
- Beverages
- Others
- Animal & Fish Feed
- Others (applied research, biofuel, etc.)
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Key Questions Answered in the Report
How much is the Europe duckweed protein market current worth?
The Europe duckweed protein market reached US$ 1.2 Mn in 2021.
At what CAGR is the Europe duckweed protein market market expected to grow?
Duckweed protein consumption is expected to grow at a CAGR of around 1.8% during the period 2022-2026.
What are the key trends boosting duckweed protein sales?
Increasing preference for plant-based protein, a focus on healthy living, and the biofuel potential of duckweed are the key trend driving the duckweed protein market.
How are players reacting to the new developments in the Europe duckweed protein market?
Global market players are trying to gain a green flag from the European Food Safety Authority (EFSA) by requesting a scientific opinion on the safety of duckweed protein for the commercialization of duckweed protein in Europe.
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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