According to Future Market Insights (FMI), the global duckweed protein market is projected to attain a valuation of USD 205.8 million by the end of 2033, expanding at an impressive CAGR of 8.9% from 2023. Starting from a market size of USD 87.7 million in 2023, this growth trajectory underscores the increasing prominence of duckweed protein as a sustainable, nutrient-rich alternative to conventional animal and plant-based proteins.
The rising demand for duckweed protein can be attributed to its versatile application in processed food products, animal feed, nutraceuticals, and dietary supplements. Duckweed protein, derived from various species of duckweed, offers a complete amino acid profile, making it an ideal substitute for traditional proteins. This growing preference is further fueled by increasing consumer awareness about the benefits of plant-based diets and the need for sustainable food sources.
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Several key factors are driving the expansion of the duckweed protein market:
- Health and Nutritional Benefits: Duckweed protein is rich in essential amino acids, which are crucial for the human body’s growth and functioning. This makes it a superior alternative to other plant-based proteins like soy and rice, which lack certain essential amino acids.
- Sustainability: Duckweed grows rapidly and requires less water and land compared to traditional crops, aligning perfectly with the global shift towards sustainable agricultural practices.
- Increasing Vegan Population: With a growing number of consumers shifting to vegan and plant-based diets for health and ethical reasons, the demand for high-quality plant proteins like duckweed is rising.
- Technological Advancements: Innovations in the cultivation and processing of duckweed are enhancing its nutritional profile and making it more accessible for various applications.
Key Takeaways from the Report:
- Global duckweed protein sales are set to increase at 7% between 2023 and 2033.
- By form, fresh segment is expected to hold a prominent share of the worldwide duckweed protein market in 2023.
- Based on end use, food processing will continue to dominate the global duckweed protein market, accounting for a revenue of about 43.2% in 2023.
- The United States holds a prominent share of 78.9% of the North America duckweed protein market.
- India’s duckweed protein market is expected to accelerate at a CAGR of 8.3% during the assessment period.
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Who is Winning?
New product launches, adoption of new advanced production technologies, awareness campaigns, acquisitions, joint ventures, celebrity endorsements, and mergers are few of the key strategies employed by companies to gain a competitive edge in the market.
A few of the leading players operating in the plant-based food market are Plantible Foods, Inc., Pontus Water Lentils, Hinoman, Ltd., Lempro Inc., Parabel USA Inc., Seta Organics, and Barentz B.V.
Get Valuable Insights into Duckweed Protein Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Duckweed Protein Market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. The study divulges compelling insights on the Duckweed Protein market based on Form (Fresh, Dried), Species (Wolffiella, Spiro Dela, Lemna), and End Use (Food Processing, Animal & Fish Feed) across several regions.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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