Demand and Trends Analysis of Duckweed Protein in Korea

Strategic Insights into Duckweed Protein Adoption in Korea from 2023 to 2033

Korea's duckweed protein market is anticipated to witness an industry valuation of USD 2.6 million in 2023. By 2033, the duckweed protein demand in Korea is projected to be worth USD 5.1 million. The Korea sector is driven by increasing duckweed protein used in animal feed, nutraceuticals, processed foods, and dietary supplements.

Increasing preference for duckweed protein powder is backed by awareness about its digestibility, which holds a score of 1.0, corresponding to animal protein. Since duckweed protein is grown commercially throughout the year, it holds high value for leading manufacturers. For greater penetration in the country, companies delivering duckweed protein in Korea are focusing on relieving pain points of their customers.

Our Analyst projects a 6.8% CAGR between 2023 and 2033, which is higher than the Korea duckweed protein industry's projected CAGR of 6.6% between 2018 and 2022. Sustainable, regenerative, and nutrient-dense duckweed appeal to consumers interested in eating sustainable and healthful foods. Korean manufacturers of duckweed protein now have profitable growth prospects.

Attributes	Details
Industry Size (2023)	USD 2.6 million
Forecasted Industry Size (2033)	USD 5.1 million
CAGR Estimation (2023 to 2033)	6.8%

Dynamics behind Korea's Duckweed Protein Market Surge

• In Korea, people are becoming aware of their food choices as the health and wellness movement gains traction. Businesses can capitalize on the trend by emphasizing the nutritional advantages of duckweed protein and promoting it as a health-focused ingredient.
• The demand for duckweed protein in Korea can rise substantially in response to favorable government laws and policies of plant-based foods and sustainable agriculture. To take full advantage of opportunities, companies should keep up to date on policies, subsidies, and initiatives from the government that could affect the production and sale of duckweed protein.
• Industry penetration requires developing successful marketing strategies and informing consumers about the advantages of duckweed protein. Manufacturers should spend money on marketing initiatives emphasizing duckweed protein's distinctive selling points, solving customer complaints, and fostering consumer confidence in the product.
• The demand for alternative protein sources in Korea is rising as people become conscious of environmental issues and the necessity of sustainable practices. Duckweed protein fits in with the trend of sustainable and eco-friendly products. Duckweed protein vendors in Korea can take advantage of the demand by promoting duckweed protein as an environmentally responsible substitute for conventional protein sources.

Restraining Factors for Duckweed Protein in Korea

• A significant obstacle is consumers' general lack of knowledge about the advantages and adoption of duckweed protein in Korea. To increase demand, business owners must spend money on marketing and instructional initiatives that bring attention to the benefits of duckweed protein.
• Logistically challenging situations could arise from an underdeveloped duckweed protein processing and distribution infrastructure. Business owners in the duckweed protein industry of Korea should make infrastructure upgrades to boost productivity and cut expenses across the supply chain.
• The demand for duckweed protein expansion in Korea may be hampered by regulatory obstacles, such as obtaining approvals and adhering to current laws. The duckweed protein providers in Korea should closely monitor and navigate the constantly changing regulatory landscape to ensure their products meet the required standards.

Category-wise Insights

The comprehensive industry trend assessment by producers and the increasing demand for Lemna-based duckweed protein are highlighted in this section's comprehensive segmentation analysis of the Korean duckweed protein market. The analysis highlights the emergence of opportunities and developing industry demands in Korea's dynamic duckweed protein landscape, emphasizing the superiority of the dried segment within the form category.

Lemna's Rise to the Top of the Duckweed Protein Sales in Korea

The Lemna segment has emerged as the leader in duckweed protein sales and is experiencing a notable upswing. Numerous factors contribute to Lemna's leadership, such as its easy cultivation, nutritional profile, and general availability.

Growing awareness of the health benefits of using Lemna species, rich in vital minerals and vitamins, low in calories and fat. Increasing consumer awareness about the environmental effects of their food decisions is boosting the popularity of duckweed protein in Korea. These are sustainable in nature as they neither require deforestation nor contribute to GHG emissions.

Segment	Lemna
Industry Share in 2023	50.40%

Lemna's appeal has increased as plant-based and sustainable protein sources gain popularity among consumers. Legume's adaptability to a wide range of uses, productive growth, and harvesting qualities add to its dominance in the duckweed protein market. The lemna segment has the potential to hold the leading position in boosting sales within the growing demand as long as there is a continued need for substitute protein sources.

The Dried Segment Takes the Lead in Duckweed Protein Demand in Korea

The duckweed protein sales in Korea are significantly influenced by a choice between fresh and dried forms, with the dried segment expected to dominate. The dried form segment has an extended lifespan, improving product distribution and storage effectiveness.

Manufacturers drive progress across various industries, such as food sector, to encourage sustainability. For instance, certain new launches in Korea are being used in baking applications. These latest advanced duckweed protein powders are claimed by industry experts to outdo the versatility of traditional eggs by delivering outstanding binding, solubility, and emulsification. It also provides high-level foaming capacity and moisture preservation.

Segment	Dried
Industry Share in 2023	93.70%

Customers who care about the environment may find dried duckweed protein appealing as it satisfies the increasing demand for plant-based and sustainable protein substitutes. The dried segment reflects consumer preferences, leading the duckweed protein industry in terms of nutritional strength, convenience, and sustainability.

Competitive Landscape

There is fierce competition in the Korea duckweed protein sector, with many companies fighting for industry share. Key duckweed protein vendors in Korea are strategically concentrating on partnerships, innovations, and expansion to obtain a competitive advantage. Concerns about sustainability, the growing demand for plant-based proteins, and technological developments are certain factors shaping industry dynamics.

Established duckweed protein businesses and emerging firms coexist in the competitive landscape, all contending for industry share as consumers' preference for alternative protein sources grows. Research and development expenditures and strategic partnerships are essential for long-term growth and industry leadership as the duckweed protein industry changes.

Players are seen investing in advanced technologies to develop meat alternatives that are better tasting and have improved feel than their conventional plant-based alternatives. With new launches in Korea like duckweed protein-based nutritious snack formations enriched with high dietary fibers and protein, the industry is set to evolve in the upcoming years. Players are also predicted to acknowledge key benefits of consuming duckweed protein, especially for obese and diabetic population, in their promotional campaigns.

Key Advancements Observed in Duckweed Protein in Korea

• In June 2023, Plantible Foods introduced Rubi Whisk, an egg replacer composed of duckweed that outperforms poultry eggs. This plant-based alternative is utilized in gluten-free products, pasta, baking goods, and other applications. Plantible Foods, founded in California in 2018, developed technology to extract RuBisCo, a specific protein, from duckweed.
• To expand lemna production, the plant with the highest protein yield among all plants, Plantible secured USD 21.5 million in Series A funding led by Astanor Ventures. This funding round brings Plantible's total to USD 27 million, transforming the food industry.
• Acquiring Natural strengthened Barentz's position as the industry leader. This move, combined with the earlier acquisition of Unipex, enhances Barentz's position with a wide range of natural and functional ingredients, expanding its European nutraceuticals portfolio.
• CJ CheilJedang has made significant investments in various alternative protein companies, including Plantible Foods, New Culture, and Aqua Cultured Foods.

Some of the Key Players of Duckweed Protein in Korea

• Pontus Water Lentils
• Barentz B.V.
• Hinoman, Ltd.
• Plantible Foods, Inc.
• Lempro Inc.
• Seta Organics
• Parabel
• Aquatic Technologies
• Plantible

Scope of the Report

Attribute	Details
Estimated Valuation (2023)	USD 2.6 million
Projected Valuation (2033)	USD 5.1 million
Anticipated CAGR (2023 to 2033)	6.8%
Historical Analysis of Duckweed Protein in Korea	2018 to 2022
Demand Forecast for Duckweed Protein in Korea	2023 to 2033
Quantitative Units	Revenue in USD million and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Key Companies Profiled in the Industry Analysis of Duckweed Protein in Korea	Pontus Water Lentils; Barentz B.V.; Hinoman, Ltd.; Plantible Foods, Inc.; Lempro Inc.; Seta Organics; Parabel USA; Aquatic Technologies; Plantible

Key Segments

By Form:

• Fresh
• Dried

By Species:

• Wolffiella
• Spiro Dela
• Lemna

By End Use:

• Food Processing
• Animal and Fish feed
• Others

By Province:

• South Gyeongsang
• North Jeolla
• South Jeolla
• Jeju

Frequently Asked Questions

At What CAGR is the Duckweed Protein Ecosystem Growing in Korea?

The sales of duckweed protein in Korea are likely to exhibit a CAGR of 6.8% from 2023 to 2033.

How Big will the Duckweed Protein Market be in Korea?

Demand for duckweed protein in Korea is likely to surpass USD 5.1 million by 2033.

What is the Current Duckweed Protein Market Valuation in Korea in 2023?

Demand for duckweed protein in Korea valued at USD 2.6 million in 2023.

Which is the Preferred Form for Duckweed Protein in Korea?

The dried segment is likely to grab a share of 93.70% in 2023.

Which Application Area Contributes Significantly?

The lemna segment to acquire a share of 50.40% through 2033.