The global duckweed market size reached a valuation of USD 76.0 million in 2023. The expanding nutritional value and wide range of applications are projected to be the market's primary growth drivers. The overall sales of duckweed are projected to grow at a robust CAGR of 10.8% between 2023 to 2033, totaling around USD 195.4 million by the end of 2033.
| Data Points | Key Statistics |
|---|---|
| Duckweed Market Size (2023) | USD 76.0 million |
| Duckweed Market Revenue Forecast (2033) | USD 195.4 million |
| Duckweed Market Growth Rate (2023 to 2033) | 10.8% CAGR |
| North America Market Share | 15.1% |
Duckweed is a plant with small round leaves that glide on the surface of the water. It grows quickly in nutrient-rich water and is commonly found in garden ponds. Duckweed, like other plant species, thrives in hot weather, and it is so dense that it resembles garden lawns as it doubles every two or three days in summer. Ducks, as the name implies, eat duckweed.
Duckweed is a plant-based platform that does not sustain the proliferation of bacteria, viruses, or prions, so it provides a higher level of product safety than an animal-based platform. Duckweed is also consumed by humans and other animal species.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
One of the most significant drivers of the duckweed market is its use in the animal feed industry, aquaculture, and burgeoning products for humans. It is a rich nutritional food with protein percentages ranging from 25% to 45%, which is vastly superior to Soybean meal, which has 36% protein content. It grows more than double in 36 hours under ideal conditions, making it ideal for rapid propagation to meet potential demand.
Duckweed grows on the surface of the water, covering the entire area, deterring sunlight and oxygen supply on the one hand while saving excess water from vaporization on the other. Duckweed is also a cost-effective renewable energy source because it is a biofuel, making it ideal for industries.
Among the key properties are food, animal and aquatic feed, wastewater treatment, fertilizers, medicinal properties, mosquito repellent, and heavy metal removal from water. Duckweed, as a ruminant food, has emerged as an alternative to industrial corn and other similar food items.
Duckweed meal can also be used in place of soybean meal, which is fed to Indian carp, channel catfish, and grass carp. Duckweed is genetically modified so that it can be used to synthesize insulin and other compounds.
When sunlight is not available, large duckweed mats may ingest rather than produce oxygen. The amount consumed may exceed the amount of oxygen produced, resulting in a dangerous shortage. This may limit the growth of the duckweed market.
Principal Consultant
Countries such as the United States are conducting scientific research to determine whether duckweed can be used as a source of economic, clean renewable energy, thereby attempting to boost the duckweed market. Because of increased consumption of plant-based protein, the United States is expected to account for more than 77% of the North American market. North America is predicted to account for a market share of 15.1% of the global duckweed market.
During the forecast period, the North American renewable energy market is expected to grow at a CAGR of more than 7.5%. Duckweed is also a cost-effective renewable energy source because it is a bio fuel, making it very useful for industries. As a result, the duckweed market in North America is expected to grow significantly.
Germany is anticipated to dominate the European duckweed market in 2021. Duckweed is native to most of Europe, except for Africa and North America, and its popularity is highest in these areas.
According to Future Market Insights, Europe is expected to account for a market share of 1.8% of the global duckweed market.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The Asia-Pacific health and wellness food market is expanding rapidly as a result of the expanding food and beverage industry and increasing preference for wholesome and nutritious food products. Duckweed is quickly emerging as a highly nutritious food option for humans.
With a high protein percentage of 25% to 45%, this high-protein food option is considered far superior to a soybean meal. As a result, the Asia Pacific Duckweed market is projected to expand significantly in the coming decades.
The aquatic plant little duckweed (Lemna minor)'s leaves of this remedy are used in homeopathy. This is an excellent treatment for nasal congestion and inflammation. Dosage - As directed by a physician. As a result of its pharmacological benefits, the little duckweed (Lemna minor) segment is expected to grow rapidly in the upcoming years.
Because of its high protein content and environmentally friendly production properties, duckweed is regarded as a promising source of protein for human food products. Duckweed should be acceptably presented to consumers to accomplish successful inclusion in the diet. As a result, duckweed is frequently used as a dietary/health supplement. As a result, the dietary/health supplement segment will be in high demand.
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,
Some of the leading duckweed device manufacturers include Parabel, Green Orchid Nursery & Garden Center, Australian Aquatic Solutions, etc. These key duckweed providers are adopting various strategies such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc. to increase their sales and gain a competitive edge in the global duckweed market. For instance,
Recent Developments
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 10.8% from 2023 to 2033 |
| Market Value in 2023 | USD 76.0 million |
| Market Value in 2033 | USD 195.4 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 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 |
| Segments Covered | Form, End Use, Application, Product Type, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | Unitec States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, India, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Parabel; Green Orchid Nursery; Australian Aquatic Solutions; Go Herbal Foods; Sak Aquatics; Victory Farms Ltd.; Medicine Raw Materials; Herbalife; Pond Pro; Plantible Foods; NutraIngredients |
| Customization & Pricing | Available upon Request |
The current valuation of the duckweed market is USD 76.0 million in 2023.
The market is likely to expand at a 10.8% CAGR through 2033.
The market is expected to reach USD 195.4 million by 2033.
Key players in the duckweed market include Parabel, Green Orchid Nursery, and Australian Aquatic Solutions.
The use of duckweed in animal feed, aquaculture and its nutritional value are key growth drivers.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 5.1. Powder 5.2. Oil 5.3. Paste 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Household 6.2. HoReCa 6.3. Food & Beverages 6.4. Aquaculture Industry 6.5. Pharmaceutical Industry 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Food 7.2. Animal & Aquatic Feed 7.3. Dietary/Health Supplements 7.4. Biofertilizers 7.5. Biofuels 7.6. Water Treatment 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 8.1. Little (Lemna Minor) 8.2. Thick (Lemna Gibbs) 8.3. Cross (Lemna Priscila) 8.4. Great (Lemna Polyuria) 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Parabel 19.2. Green Orchid Nursery 19.3. Australian Aquatic Solutions 19.4. Go Herbal Foods 19.5. Sak Aquatics 19.6. Victory Farms Ltd. 19.7. Medicine Raw Materials 19.8. Herbalife 19.9. Pond Pro 19.10. Plantible Foods 19.11. NutraIngredients 20. Assumptions & Acronyms Used 21. Research Methodology
Explore Food and Beverage Insights
View Reports
Duckweed Market
