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 US$ 971.7 Million by 2032.
More than one-third of the world’s population (2.3 billion people) is predicted to expand by 2050, necessitating a 70% increase in food production. Despite the fact that the world’s population has more than doubled in the previous fifty years, hunger has decreased as agricultural food production methods have advanced and per capita income has increased. Food production, on the other hand, is more challenging than ever before.
Previously used agricultural intensification methods will be rendered obsolete due to their high environmental impact trade-offs, such as the destabilisation of natural ecosystems and threat to biodiversity, the production of greenhouse gases from land clearing, terrestrial ecosystems, animal livestock production, freshwater, and nutrient run-off from fertiliser causing marine pollution.
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 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.
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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.
By Source, Global Seaweed Protein Market is segmented as:
- Red Seaweed
- Green Seaweed
- Brown Seaweed
By Extraction Method, Global Seaweed Protein Market is segmented as:
- Conventional
- Physical Process
- Enzymatic Process
- Chemical Process
- Current Method
- Ultrasound Assisted Extraction (UAE)
- Pulsed Electric Field
- Microwave Assisted Extraction (MAE)
By Application, Global Seaweed Protein Market is segmented as:
- Food & Beverages
- Industrial Application
- Animal Feed
- Aquaculture
- Cosmetics and Personal Care
By Region, Global Seaweed Protein Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and 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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