The global duckweed protein market is forecast to reach a market valuation of USD 87.7 million in 2023, and further register a growth rate of 8.9% CAGR over the forecast period from 2023 to 2033. Overall duckweed protein sales are likely to be valued at USD 205.8 million by the end of 2033.
Growing usage of duckweed protein in processed food products, animal feed, nutraceuticals, and dietary supplements is driving the global duckweed protein industry forward.
Duckweed protein refers to protein derived from various species of duckweed, also known as water lentil. It contains a perfect amino acid composition and has thus become an ideal sustainable alternative to various animal proteins.
Growing awareness about the benefits of duckweed protein along with increasing demand for plant-based proteins and plant-based foods is expected to boost the global duckweed protein industry during the projection period.
In recent years, there has been a growing interest in consuming plant-based proteins such as soy protein and rice protein, especially among millennials due to growing health concerns and focus towards improving animal welfare.
However, most of these plant-based proteins are low in essential acids in comparison to animal proteins. This has put duckweed protein into limelight.
Duckweed protein is more efficient than several other plant-based proteins as it contains most of the essential amino acids required for proper functioning and growth of human body. Hence, it is being increasingly incorporated into processed food products and beverages, supplements, and animal feeds.
Consumers who are interested in eating foods that are healthy and sustainable will be drawn to ingredients such as duckweed that are sustainable, regenerative, and dense in nutrients. This in turn will create lucrative growth opportunities for duckweed protein manufacturers.
Another key factor that is expected to elevate demand for duckweed protein is the increasing incidence of protein diseases and unavailability of sufficient dietary proteins. There is a growing concern of insufficient dietary protein among the elderly and underprivileged in certain regions of the world. This will create growth avenues for the duckweed protein industry during the projection period.
| Attribute | Key Insights |
|---|---|
| Duckweed Protein Market Estimated Value (2023E) | USD 87.7 million |
| Projected Market Value (2033F) | USD 205.8 million |
| Value-based CAGR (2023 to 2033) | 8.9% |
| Top 3 Countries Marketing Share | 20% to 25% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 4.8% |
| Jul to Dec (H2), 2021 (A) | 5.2% |
| Jan to Jun (H1), 2022 Projected (P) | 6.7% |
| Jan to Jun (H1), 2022 Outlook (O) | 6.3% |
| Jul to Dec (H2), 2022 Projected (P) | 7.9% |
| Jul to Dec (H2), 2022 Outlook (O) | 7.1% |
| Jan to Jun (H1), 2023 Projected (P) | 8.5% |
Future Market Insights predicts the global duckweed industry to exhibit a CAGR of 8.9 % between 2023 and 2033 in comparison to the CAGR of 8.7 % registered between 2018 and 2022.
Rising application of duckweed protein in processed food, animal feed, and dietary supplements is a key factor driving duckweed protein demand worldwide.
Duckweed protein is gaining immense popularity across the globe due to its high nutritional value. It has become an ideal alternative to animal proteins and various plant-based proteins as it contains most of the essential amino acids required by human and animal bodies.
Growing end user preference towards using duckweed protein over other alternatives is expected to boost the global duckweed protein industry during the assessment period.
Similarly, growing vegan popularity and increasing demand for plant-based foods will bolster duckweed protein sales throughout the projection period.
Key manufacturers of duckweed protein are readjusting their strategies as new advancements have taken place in the market. They are offering a wide range of innovative products to meet the rising demand for plant-based proteins.
Principal Consultant
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 4.3% |
| BPS Analysis | -234 |
| Market Value (2033) | USD 34.6 million |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR | 4.8% |
| BPS Analysis | -177 |
| Market Value (2033) | USD 12.7 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 7.8% |
| BPS Analysis | -310 |
| Market Value (2033) | USD 23.4 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 8.3% |
| BPS Analysis | -755 |
| Market Value (2033) | USD 13.6 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 8.9% |
| BPS Analysis | 121 |
| Market Value (2033) | USD 14.6 million |
Rising Demand for Wolffia Globosa Protein to Boost the USA Market
According to Future Market Insights, the United States duckweed protein market is forecast to exhibit a CAGR of 4.3% between 2023 and 2033, reaching a valuation of USD 34.6 million by the end of 2033. Currently, it holds a prominent share of the worldwide duckweed protein industry and it is likely to retain its dominance through 2033.
Rising vegan population, increasing demand for plant-based foods, and growing popularity of Wolffian globose protein are few of the key factors driving the USA market forward.
Wolffia globosa is aquatic, edible duckweed that contains dietary fibers, polyphenols, zinc, iron, B12 vitamin, and all nine essential amino acids. Hence, protein derived from this species is gaining immense popularity across the USA and will help the duckweed protein industry to thrive steadily.
Further, growing preference towards plant-based foods to reduce the risk of disease development coupled with rising popularity of preventive healthcare will boost duckweed protein sales in the country.
Growing Usage of Duckweed in Processed Foods Bolstering Sales in India
India’s duckweed protein industry is anticipated to expand at 8.3% CAGR during the forecast period from 2023 and 2033. Total market size for duckweed protein will reach USD 13.6 million by 2033.
The need to find alternative and more sustainable crops has increased, along with advancements in genomic technologies in India over the past decade. This has reignited interest in duckweed as a model for enabling discoveries in numerous areas of plant biology.
A large portion of the Indian population still suffers from hunger and malnutrition. To tackle this, various unconventional plant food sources are being explored and utilized. One such candidate is duckweed.
Indian food processing companies are using duckweed and duckweed protein to make their products nutritional and healthy. Rapid growth of food processing industry and increasing interest in plant-based foods will therefore boost duckweed protein sales across India during the assessment period.
Growing Need for Vegan Protein Containing all Essential Amino Acids Driving Demand in Germany
According to the latest analysis by Future Market Insights, Germany is expected to account for over 22.5% share of the Europe duckweed protein market in 2023. Overall duckweed sales in the country are likely to surge at a robust CAGR through 2033.
Growing trend of veganism across European countries such as Germany and the United Kingdom is increasing the demand for rice protein, pea protein isolate, and other plant-based proteins. However, most of these vegan proteins do not contain all the essential amino acids required by human body. This has prompted people to opt for products such as duckweed protein,
Gym enthusiasts are also concerned that going "vegan" may result in them losing muscular mass. However, with the introduction of duckweed protein, concerns about muscle-building are easily addressed.
Water lentil protein, also known as duckweed protein, has a high protein content. It contains all the essential amino acids required for proper functioning and development of human body. It also outperforms pea protein isolate in terms of biological rate. On the back of this, duckweed protein demand in Germany is expected to increase significantly over the next ten years.
Fresh Duckweed Protein Remains Highly Sought After Form
Based on form, the global market for duckweed protein is segmented into fresh and dried. Among these, the fresh form segment is dominating with a prominent share in the overall form category. This is attributed to rising preference of companies to derive protein from fresh duckweed rather than dried one and increasing adoption of fresh duckweed protein across various industries.
Designing future food products for a sustainable alternative source of protein that has the potential to replace animal meat, and healthier, and more affordable protein requires fresh duckweed species. It has drawn a lot of attention, especially given the rise in demand brought on by the animal feed, aquaculture, and health supplement industries.
Several food processing companies and animal feed manufacturers are also choosing fresh duckweed protein for making healthy and nutritious products. This will continue to trigger growth of the target segment.
Most of the Duckweed Protein Available in the Market is Extracted from Lemna
By species, the market is segmented into Wolffiella, Spiro Dela, and Lemna. Among these, Lemna species holds a prominent share of the market and it is likely to retain its dominance during the forecast period. This is due to easy cultivation and processing of this species.
The smallest flowering plant on the earth is Lemna (duckweed). It grows quickly and contains a lot of protein when dry. It has the potential to become a long-term remedy for the impending protein shortage in the world.
Lemna can be grown in basins, greenhouses, or even vertically and does not need agricultural land. Companies, such as Plantible Foods, are cultivating different Lemna varieties and then extracting the protein.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
There are numerous players in the fiercely competitive duckweed protein space. Due to the market's extreme fragmentation, various businesses are introducing new products and establishing business acquisitions or strategic partnerships to increase their market share.
Few of the leading duckweed protein manufacturers include Seta Organics, Pontus Water Lentils, Plantible Foods, Inc., Lempro Inc., Barentz B.V., Hinoman, Ltd., Parabel USA Inc., & Others.
Recent Developments:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 87.7 million |
| Projected Market Size (2033) | USD 205.8 million |
| Anticipated Growth Rate (2023 to 2033) | 8.9% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; and the Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
| Key Segments Covered | Form, Species, End Use, and Region |
| Key Companies Profiled | Parabel USA Inc.; Pontus Water Lentils; Barentz B.V.; Hinoman, Ltd.; Plantible Foods, Inc.; Lempro Inc.; Seta Organics |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The duckweed protein market is valued at USD 87.7 million in 2023.
The duckweed protein market is projected to thrive at an 8.9% CAGR through 2033.
The top 3 countries’ marketing share in the duckweed protein market is nearly 20% to 25%.
India’s duckweed protein market is anticipated to thrive at an 8.3% CAGR from 2023 to 2033.
The Lemna (duckweed) segment is highly preferred in the global duckweed protein market.
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. Fresh 5.2. Dried 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Species 6.1. Wolffiella 6.2. Spiro Dela 6.3. LeMilliona 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food Processing 7.2. Animal and Fish Feed 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East & Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East & Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Parabel USA Inc. 18.2. Pontus Water Lentils 18.3. Barentz B.V. 18.4. Hinoman, Ltd. 18.5. Plantible Foods, Inc. 18.6. Lempro Inc. 18.7. Seta Organics 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Food and Beverage Insights
View Reports
Duckweed Protein Market
