The global seaweed protein market size is valued at USD 456.2 Million in 2022 and it is expected to grow at a compound annual growth rate (CAGR) of 11.3% from 2022 to 2032. Global seaweed protein sales are likely to account for ~8.2% of the demand in the global seaweed market, valued at USD 5.5 Billion in 2022.
| Attribute | Details |
|---|---|
| Global Seaweed Protein Market Size (2022E) | USD 456.2 Million |
| Global Seaweed Protein Market Projected Size (2032F) | USD 971.7 Million |
| Value CAGR (2022 to 2032) | 11.3% |
| Top 3 Countries Market Share | 42.1% |
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The surge in demand for vegetarian/vegan alternative proteins is largely responsible for the enormous expansion of the seaweed protein market. Seaweed, Nuts, tofu, seeds, quinoa, and tempeh are just a few of the vegan alternative proteins available.
Additionally, rising consumer health awareness about the intake of dairy and animal products is raising public knowledge about seaweeds. In addition, expanding seaweed protein feed-related applications for animals are expected to drive the worldwide seaweed market in the forecasted years. Furthermore, the increasing use of seaweed proteins in weight loss may have a significant effect on market growth. People increasingly desire a healthier lifestyle that includes high-nutrient, low-fat, and low-sugar foods, which drives the need for seaweed protein.
Red seaweed has a global supply chain that produces approximately 18 million tons per year. The majority of the current crop is farmed to extract agar and carrageenan, which are used to improve the gel strength of processed foods. You may have absorbed seaweed-derived minerals if you washed your teeth this morning or ate ice cream the night before.
Red seaweed polysaccharides (carbohydrates) are often found in toothpaste and ice cream, and are utilised to thicken various meals and cosmetics. Agar is also used extensively in biological studies. As the base liner in a Petri dish, it is a preferred microorganism growth medium.
Nori is the next largest seaweed category in terms of volume. Nori is a red seaweed with the greatest protein content of any seaweed I've ever seen (up to 47 percent). Nori is used in soups, salads, and as a wrap for sushi rolls in Japanese cuisine.
North America is predicted to remain an important market, accounting for the majority of market share in 2021. The United States holds more than 74.3% market share in the North American seaweed protein market, which is predicted to increase at a CAGR of around 6.8% over the forecast period. The growing emphasis on preventative healthcare is driving up up demand for nutritional supplements and nutraceutical products, which in turn is driving up demand for seaweed protein.
Spirulina and chlorella are two microalgae proteins that are commonly employed in the production of nutraceutical products. The presence of important spirulina manufacturers in the United States, as well as high consumption of health supplements and strong rules against the use of synthetic food color, will encourage market expansion.
Professional athletes and fitness-conscious people in the region are requesting nutritional health supplements to preserve their overall health. Because blue-green algae, such as spirulina and chlorella, are high in vitamin, amino acid, protein, and other nutrients, they are commonly employed in the production of nutritional supplements.
Seaweed and algal protein demand should be fueled by consistent investments in R&D for product advancements in this area, as well as rising consumer awareness about health and fitness, propelling regional business growth.
According to FMI, UK is estimated to hold more than 19.0% share in the Europe seaweed protein market in 2022 and it is estimated to grow with a CAGR of around 6.2% in the forecast period.
The European population's life expectancy is likewise rising, and people are looking for new ways to keep healthy as they grow older. They may invest in high-quality nutraceutical items since they have a lot of spare income. As a result, nutraceuticals are becoming more common among consumers. Consumption of extremely nutritious microalgae like spirulina and chlorella are likely to increase as demand for health and wellness products rises.
Exporters of spirulina and chlorella should take advantage of the European market's desire for high-quality edible seaweeds. Many importers are having quality concerns with inexpensive Chinese spirulina and chlorella. Because of the strict EU laws and consumer demand for high-quality products, European importers place a high value on quality. This factor's influence is predicted to rise in the coming years.
China is dominating the East Asia seaweed protein market holding significant market share of more than 37.2% and it is expected to grow with CAGR of around 4.6% in the forecast period. While in the South Asia food extrusion market India is driving the growth owing to the rapid urbanization and increased per capita income of the consumers.
Food and beverage demand will be boosted as a result of increased demand for processed foods as a result of rapid urbanization and an increasing working population, significantly impacting the seaweed protein market dynamics. Consumer demand for these proteins will grow as people change to healthier diets that are low in calories, low in sugar, and high in protein. The food & beverage business is being driven by increased demand for organic food products and a high need for high protein beverages, which will boost demand for algal proteins during the forecasted time frame.
Principal Consultant
The red seaweed segment is expected to dominate the source segment holding more than 52.7% of the market share in 2022 and it is expected to grow with CAGR of around 8.9% over the forecast period.
For thousands of years, red seaweed has been used as a food source and to cure medical ailments. It is high in vitamins, minerals, and antioxidants that your body can easily absorb. Because it is abundant in dietary fiber, red seaweed can boost healthy circulation in the body, control blood sugar levels, and lower harmful cholesterol levels. It's also high in calcium and magnesium, which helps with bone health, and it's high in antioxidants, which boost the immune system and nourish your skin.
Red seaweed is simple to incorporate into the daily diet by eating vegan sushi rolls or miso soup; sushi is one of the easiest ways to acquire the benefits of red seaweed because it is created with Nori sheets. Here are a few fun facts about Nori: it's the Japanese word for "edible seaweed," and it has the highest protein content of any seaweed at approximately 50%. Nori is also high in B12, which is essential for all of us plant-based green monsters! Dulse is a type of red algae that grows in Canada, Ireland, and Eastern Europe and is used in soups, salads, and stir-fries.
Among the extraction method segment conventional method is expected to dominate the market holding more than 43.5% share in year 2022 and it is expected to grow with significant CAGR of around 8.6% over the forecast period.
Since seaweed has a low protein level in its unprocessed and raw state, researchers have focused on finding better methods for extracting algal proteins to increase bioavailability. In comparison to proteins from other crops, algal proteins and their extraction have received little attention. alkaline, acidic, and aqueous procedures are used to extract algal proteins, which are then centrifuged many times and recovered via precipitation, chromatography, or ultrafiltration. For extracting proteins from A. nodosum, L. digitata, and Ulva spp. chemical extraction procedures such as alkali treatments and two-phase acid have been particularly effective.
Among the application segment food & beverage is expected to dominate the market holding more than 42.1% share in year 2022 and it is expected to grow with significant CAGR of around 6.9% over the forecast period.
Protein is an essential ingredient in athletes' diets because it aids in the repair and reconstruction of muscle tissue that has been broken down during exercise. Protein intake should be between 1.2 and 1.7 grammes per kilogramme of body weight, according to the American College of Sports Medicine. Microalgae and seaweed are high in protein and contain all of the essential amino acids in varying amounts. Seaweed could thus be a great resource for athletes who require a lot of protein, especially vegan athletes who may not be able to consume eggs or dairy whey protein.
The market has been fragmented for a long time due to the presence of various mid-sized and small competitors. Mergers and acquisitions, product innovation, and product capacity expansion are all priority for major players. In addition to this, the high competition in the market is promoting high product innovation in terms of types, rapid testing kits, marketing etc.
For instance -
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.
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| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Chile, Peru, Argentina, Germany, Italy, France, UK, Spain, BENELUX, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC Countries, Turkey, South Africa, North Africa, and Central Africa |
| Key Segments Covered | Extruder Type, Product Type, Process and Region |
| Key Companies Profiled | The Seaweed Company; Gelymar; Acadian Seaplants; Qingdao Gather Great Ocean Algae Industry Group; Roquette Klotze GmbH; Cargill, Incorporated; Acadian Seaplants; Qingdao Seawin Biotech Group Co. Ltd.; CP Kelco U.S., Inc.; AquAgri Processing Pvt. Ltd |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global seaweed protein market is expected to be valued nearly USD 456.2 Million in 2022.
The North America seaweed protein market is valued at USD 102.2 Million in 2022 and it is expected to grow with CAGR of 6.8% over the forecast period 2032.
The key manufacturers of global seaweed protein are Gelymar., Roquette Klotze GmbH, CP Kelco USA, Inc. and Qingdao Seawin Biotech Group Co. Ltd.
Seaweed protein industry accounted for 8.2% of sales in the global seaweed protein market.
The China seaweed protein market will grow at 4.6% CAGR between 2022 and 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Source 5.1. Red Seaweed 5.2. Green Seaweed 5.3. Brown Seaweed 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Extraction Method 6.1. Conventional 6.1.1. Physical Process 6.1.2. Enzymatic Process 6.1.3. Chemical Process 6.2. Current Method 6.2.1. Ultrasound Assisted Extraction (UAE) 6.2.2. Pulsed Electric Field 6.2.3. Microwave Assisted Extraction (MAE) 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 7.1. Food & Beverages 7.2. Industrial Application 7.3. Animal Feed 7.4. Aquaculture 7.5. Cosmetics & Personal Care 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, 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. MEA 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. The Seaweed Company 18.2. Gelymar 18.3. Acadian Seaplants 18.4. Qingdao Gather Great Ocean Algae Industry Group 18.5. Roquette Klotze GmbH 18.6. Cargill, Incorporated 18.7. Acadian Seaplants 18.8. Qingdao Seawin Biotech Group Co. Ltd. 18.9. CP Kelco USA, Inc. 18.10. AquAgri Processing Pvt. Ltd 18.11. Others on Additional Request 19. Assumptions & Acronyms Used 20. Research Methodology
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Seaweed Protein Market
