The global duckweed protein market is expected to be worth USD 87.7 million in 2023, with an 8.9% CAGR from 2023 to 2033. Overall duckweed protein sales are expected to be worth USD 205.8 million by the end of 2033.
Duckweed protein is swiftly becoming popular as a nutrient-rich, sustainable plant-based protein source. Growing awareness of environmental and health benefits is driving consumers to adopt duckweed-based products, propelling market growth. Its versatility and potential applications across various industries further accelerate its expansion.
As a result, demand for duckweed protein is expected to increase throughout the forecast period. Consumers are urging retailers and manufacturers to expand their product lines and focus more on meeting their needs, especially in affluent countries. This growing interest has led to numerous new duckweed protein products being introduced. Manufacturers are also leveraging strategic marketing and labeling to enhance product appeal, with labeling becoming a crucial element of this shift.
Key Takeaways from the Duckweed Protein Market Study:
- The global duckweed protein market is projected to surpass US$ 165.6 Mn, registering compound annual growth rate (CAGR) of 8.8% from 2022 to 2032.
- The U.S. is estimated to account for more than 77.9% in the North America market in 2021 owing to the increased consumption of plant based protein.
- China is estimated to account for nearly 54.2% of the East Asia market share in 2021, driven by increased use of duckweed protein in beverages.
- Germany is expected to dominate the Europe duckweed protein market, holding a market share of 22.5% in 2021
Who is winning?
Plant-based protein products are expected to see an increase in demand, especially from the fitness industry, according to Future Market Insights. Hence, key players are likely to enhance their manufacturing capacity and capabilities by embracing 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.
The report covers exhaustive analysis on:
- How much is the duckweed protein market current worth?
- At what CAGR is the market expected to grow?
- What are the key trends boosting duckweed protein sales?
- What is the market share of the leading players operating in the global duckweed protein market?
- Which are the major countries driving the demand for duckweed protein?
- What is the demand outlook of duckweed protein market in Japan?
- At what rate will the U.S. duckweed protein market grow?
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Europe Duckweed Protein Market Key Segment
Global Duckweed Protein Industry Segmentation
By Forms:
- Fresh
- Dried
By Species:
- Wolffiella
- Spiro Dela
- Lemna
By End Use:
- Food processing
- Animal and Fish feed
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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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