The global seaweed protein industry is estimated to be worth USD 507.8 million by 2024. It is projected to reach USD 1081.5 million by 2034, reflecting a CAGR of 9.8% over the assessment period 2024 to 2034.
The global population continues to grow and as a result, more and more people have an insatiable demand for food developed with the right quality of nutrients, protein, and vitamins.
Among this population, many are concerned about the quality of meat consumed and the impacts of animal agriculture and other products that are hampering the use of plant-based products. This shift not only calls for healthy but also more sustainable plant-based options, thus manufacturers in the food and supplement industry need to become more creative in utilising various plant sources.
Food technology development is dependent on the current trends of consumption and demand for plant based diets. The plant-based diets are usually rich in essential nutrients such as amino acids, vitamins, protein, fibers, and flavonoids, and promote their health benefits.
One of the plant-based substitutes that has been popular due to its health benefits, cheaper cost, and easy availability is seaweed. Seaweed is a general term given to many kinds of aquatic plants and algae found underwater. These plants are available in different sizes, species, and colors with several applications in the food, pharmaceutical, and cosmetics industry especially popular in Asian countries.
| Attributes | Description |
|---|---|
| Estimated Global Seaweed Protein Industry Size (2024E) | USD 507.8 million |
| Projected Global Seaweed Protein Industry Value (2034F) | USD 1081.5 million |
| Value-based CAGR (2024 to 2034) | 9.8% |
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The below table presents a comparative assessment of the variation in CAGR over six months for the base year (2023) and current year (2024) for the global seaweed protein market. This analysis reveals crucial shifts in performance and indicates revenue realization patterns, thus providing stakeholders with a better vision of the growth trajectory over the year. The first half of the year, or H1, spans from January to June. The second half, H2, includes the months from July to December.
| Particular | Value CAGR |
|---|---|
| H1 | 7.8% (2023 to 2033) |
| H2 | 8.2% (2023 to 2033) |
| H1 | 8.7% (2024 to 2034) |
| H2 | 9.0% (2024 to 2034) |
In the first half (H1) of the decade from 2024 to 2034, the business is predicted to surge at a CAGR of 7.8%, followed by a higher growth rate of 8.2% in the second half (H2) of the same decade. Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase to 8.7% in the first half and remain considerably high at 9.0% in the second half.
Growing Demand for Plant-based Protein Alternatives
With the continuous growth of the world’s population and changes in the consumption pattern, there is a growing appreciation for the discovery, and production of new nutrients. Also, a great demand for different sources of catering ingredients is continually being observed.
As the population continues to increase, the existing supply of natural resources is being exhausted leading to a conflict of competing resources of limited supply, against a backdrop of growing hunger for the resources.
Businesses are proactively looking for effective strategies to source ingredients that can satisfy the needs and wants of consumers. The increased expectations and increased competition have also led to heavy investment in the research and development, marketing, and exploration of the resources, and technologies to obtain constant and quality vegetative raw materials.
Moreover, there is an increasing tendency among consumers, to avoid or abandon protein sources, particularly meat, dairy, and poultry products, based on their ethical stances and the health threats posed by consumption of such products. This is the reason why the most important issue includes the search for high-protein sources that do not compete with animal agriculture.
One such easily available alternative is seaweed which is easy to consume and also rich in proteins and other nutrients without health risks to human beings. This food supplement resource has drawn a lot of interest particularly from vegetarian and vegan consumers hence making sea vegetables a significant contributor of proteins.
Elevation in Various Seaweed Farming Technologies
In the earlier historical periods, people engaged in the gathering of wild seaweed that grew in rivers and oceans since there were no principles or practices of seaweed processing. Nevertheless, many industries such as food and beverage, biomedical, and pharmaceutical have borne environmental consequences, and the focus has shifted to seaweeds as an eco-friendly raw material for food and other products.
This concern in turn has brought rise to several farming strategies. The growing utilization of seaweed has easily accelerated the growth of seaweed cultivation. But, many variables such as, how they are being grown, what species are in use, where they are, and even the composition of the water bodies affect seaweed farming practices.
Farming systems or aquaculture systems of growing seaweed on land and in dry or desert areas have also been pioneered. For instance, in the case of land-based systems, usually, close systems are adopted where seaweeds are grown in water tanks, open ponds, or large pipeline systems.
In this technique, coastal regions are opting for offshore farming techniques as these seacoasts are rich in nutrients that are preferred for growing seaweeds. The reason for this technique being so popular is the fact that the seaweed cultivars are grown in areas where their growth and conditions can be easily managed.
Another point is that farming seaweeds relies on minimum land space which is an advantage for aquaculture farmers. Based on studies made by BioMed Central, aided by Nutrition and Physiology, Seaweed or Algae grow approximately 10 times more than land plants and at the same time do not require the use of any fertilizers or growth enhancers, which makes it more interesting for consumers.
Utilization of Various Forms of Seaweed in Multiple Applications
Seaweeds have always been utilized in the cuisine of various regions, particularly Asia, and the production of drugs. In earlier days, it was mainly available in powdered and dried forms. However, advancements in the technological environment have created a favourable market for seaweeds by developing new applications and more product categories, thus more investigations and introduction of new products are continuous.
Seaweeds are not only considered a plant or vegetable source of food but have many other uses including in biological medicine, organic agriculture, animal feeds, and even in cosmetics and beauty products.
The mass cultivation of seaweed has entered into market leasing the production of easy-to-digest-supplement forms such as tablets, capsules, and powders, which are of particular interest to vegetarians and vegans because of the range of bioactive compounds in them.
In addition, seaweed has been an essential component as a source of plant-based food worldwide as a staple and functional ingredient as a preservation enhancer in many food products in a way that it inhibits pathogenic microorganisms that jeopardize the integrity of food safety.
Many farmers appreciate seaweeds for their bio-active abilities, which enhance the growth and development of a wide variety of crops. Seaweeds are incorporated in various degrees into feed for different aquatic and land animals such as fishes, shrimps, crabs, etc.
The use of seaweeds in medicine has also been associated with numerous benefits due to active compounds present in them, such as immunomodulation, anti-tumour, anti-inflammation, anti-cancer, and anti-diabetic activity. The cosmetic sector also complies with these bioactive compounds as can maintain moisture levels, reduce dryness, lift skin tone, and block UV rays.
Since cosmetics are becoming more and more popular, the use of seaweeds assumes that they will be an eco-friendly way to manufacture skincare products. Furthermore, seaweed also has applications in biofuel production, such as biodiesel. Its availability, short reproductive life cycle, and safety make it a preferable choice in the chemical industry.
Principal Consultant
Global sales increased at a CAGR of 8.2% from 2019 to 2023. For the next ten years (2024 to 2034), projections are that expenditure on such products will rise at 9.0% CAGR.
There has been a notable focus on sustainable practices within food production in the span of 2019 to 2023. The demand for edible seaweed has surged because of the increasing shift of consumers towards easy-to-use plant protein sources like seaweed and also because of ignorance of the health benefits of seaweed.
These foods are known for their proteins, amino acids, and dietary fibers. It is in the bottom-level environment that Qingdao Seawin Biotech Group Co., Ltd has proven its capacity to develop seaweed-derived products utilising the resources laid down for extensive scientific research. These involve the studies of the constituent components and structures of the launched seaweed-based products.
Acadian Seaplants’ offering of premium, coloured seaweeds has won the demands of the consumers. They have adopted the production of high-quality seaweeds by nutrient-rich growing and culturing methods. For example, after harvesting, they do not use colors or any form of color dye for their end products but rather use their low-temperature dehydration technique to reduce the moisture content.
It helps to keep the shape, color, and texture of the seaweed while also storing the nutrients present and increasing the shelf life of the products. It was during this time that the rise in plant-based product consumption for health benefits among the population also boosted the growth of the market.
The period from 2024 to 2034 is predicted to be a robust growth era for the sector due to additional reasons such as growing health awareness leading to enhanced demand for refined product ranges, the introduction of new technologies, and many more.
Moreover, the expanded cultivation areas with better aquaculture of sea vegetables will boost the seaweed products in the competitive market. In response to this trend, food products containing more seaweeds, infused with other nutrients from plant sources, such as spices, are expected to become more common.
Tier 1 Companies are referred to as the major players of the industry as they are fully established worldwide with majority shares of the business ecosystem. Industry leaders always lead the level of creativity, research, and development and most of the time are the trendsetters. They include Cargill Inc., The Seaweed Company, Seatech Bioproducts Corporation, and Acadian Seaplants Ltd.
The Seaweed Company, with its innovative ingredient formulations and effective global industry distribution, is the leading provider of sustainable seaweed products.
Tier 2 Companies are the regional players with adequate market coverage and are known for offering niche products. They are typically more localized and address specific issues of more general ones. Marcel Trading Corporation is an example of this, performing well in the Philippines due to its innovative cultivation technology to deliver fresh seaweeds to the manufacturers. In the same way, Oceans Balance develops a range of seaweed products, useful to a range of manufacturers for producing food products, fertilizers, animal feed, and cosmetics.
Tier 3 Companies are smaller players who are usually limited to the local or regional areas. They tend to service localized areas and do not possess the same level of R&D as bigger companies but are nonetheless helpful in satisfying local needs. These companies are smaller in size but still strong in their target industries due to their deep-seated innovations and customer service.
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The following table shows the estimated growth rates of the top three territories. China and Japan are set to exhibit high consumption, recording CAGRs of 9.6% and 9.2%, respectively, through 2034.
| Countries | CAGR 2024 to 2034 |
|---|---|
| USA | 8.5% |
| Japan | 9.2% |
| China | 9.6% |
The location, flora, and fauna of Japanese islands make them perfect for seaweed farming and processing. Japanese population has known the utilization, consumption, and benefits of seaweed since ancient times. They have already created several dishes associated with seaweed which is constantly used in their daily consumption. It is estimated that the Japanese eat almost 9 billion pieces of dried seaweed a year by adding it to different foods such as sushi, soup, and rice balls.
The seaweed breeders, researchers, and farmers in Japan have successfully developed many types of varieties in seaweed. As the quality of the products greatly relies on the source of raw materials utilized, the method of farming matters greatly. The most widely cultures and consumed seaweed containing essential nutrients is Pyropia spp., commonly known as nori.
Other species widely cultivated on a large are Undaria spp., Saccharina spp., Cladosiphon spp., Nemacystus spp. All these species are produced by well-established specific cultivation techniques with nori consisting of the largest production. Nori seaweed is the most integral part of Japanese cuisine as it is used for wrapping, garnishing, and seasoning many dishes.
These are usually cultivated on the nets in shallow waters and its production is also said to be seasonal. Due to its protein, vitamins, minerals, omega-3 fatty acids, and fiber content, it forms an integral part of Japanese dietary culture. Seaweeds available in Japan have a wide range of utilizations from foods and drinks to fertilizers and biotechnological applications such as phytoremediation.
All these initiatives have resulted in the increase of growth in the seaweed farming industry thus placing a dominant emphasis on the seaweed nutrients that have facilitated the launch of improved products in the market by the firms.
The seaweed farming market is primarily dominated by East Asian countries, thanks to their strategic location, favorable climate, high-quality seedlings, and advanced technologies. However, the remarkable properties of seaweeds-such as their role as a nutrient-rich staple food, cattle feed, fertilizer, and carbon sequester-have garnered global attention.
This interest has led to the expansion of seaweed farming worldwide and the emergence of numerous startups employing innovative techniques. One notable startup is Nordic SeaFarm, which conducts its farming operations in oxygen- and nutrient-rich waters.
The growth of seaweeds does not require the addition of fertilizers, rather, the choice of the appropriate site is the most vital. Nordic Sea Farm’s primary focus is sustainable food production based on high-quality seaweed products with nutrition. The Company is promoting the active development of other species that could have other different applications.
These start-ups are introducing a range of sustainable product lines with innovative combinations to capture consumer interest and enhance awareness. This increased consumer knowledge is contributing to the establishment of a robust supply chain for seaweeds globally, setting the stage for future developments in the seaweed industry.
South Asia's food extrusion industry is on an upward trend notably more so in India owing to the urban population and consumers’ increasing incomes. Per capita consumption of food and non-alcoholic beverages is predicted to rise on account of more working individuals with a change of taste towards convenience or processed foods. This particular change will significantly affect the market operation of seaweed protein.
As the eating patterns of consumers reflect a shift towards more controlled calories, limited sugar, and high-protein diets, it can be predicted that these proteins will attract more consumers. Finally, within the food and beverage sector, the growth is the result of the growing popularity of organic plant-based food as well as high protein drink consumption, which is set to boost the uptake of algal proteins in the forecast period.
| Segment | Source Type |
|---|---|
| Value Share (2024) | 28.6% |
Seaweeds have been popular for their nutritional value and have mostly been used in the making of nutraceuticals, functional foods, and animal feeds, among many others. Given that natural food sources are being depleted for many reasons, seaweeds appear to be a useful substitute, particularly in supplying proteins for the expanding global population.
The extraction of macro (notably comprised of proteins and lipids) and micronutrients is concentrated on three groups of seaweeds with varying protein content. Red seaweed tops the chart of protein-rich seaweeds noting a range of 19% - 44%, of which green seaweeds consist of lower content, followed by brown.
As research has established, the protein content of seaweeds tends to be more than those found in legumes and cereal grains including nuts. The manufacturers are continuously seeking out red seaweed to create high-quality raw materials whose high-end products will revolutionize the red seaweed market.
The consumption of various kinds of seaweeds, especially red varieties, has been documented for a long time for nutritional and other health purposes. This enables the uptake of vitamins, minerals, and antioxidants. These are also known to contain extremely high levels of fiber that are beneficial for enhancing blood flow, blood sugar, and bad cholesterol levels in the body.
The product is also increasingly rich in calcium and magnesium, which are particularly important for normal bone growth, as well as in antioxidants that enhance immunity and skincare. The composition of red seaweed makes it a really easy ingredient to incorporate into anyone’s diet as it can be included in vegan sushi rolls or added to Miso soup. Sushi is a dish where red seaweed is mostly used in Japan, it is said that nori-coated sushi is the easiest way to consume the benefit of red seaweed.
| Segment | Application type |
|---|---|
| Value Share (2024) | 42.8% |
From a historical point of view, different types of seaweed cultivation have been practiced across the globe for many years. In southeast countries, particularly in the islands, seaweed use in cuisine is quite ancient. In many regions too, seaweeds have been used for several purposes which include medicine, animal feeds, and even as mulches for farms.
Considered to be used the potential benefits of seaweeds were until recently ignored due to their shapes and textures. Nonetheless, in the recent past, they have become prevalent, and a wide range of their extracts have found use in many products such as paints, toothpaste, room deodorizers, beauty products, and even in medications.
With the new era of science and technology, the advantages of seaweeds have also been embraced in other sectors such as functional food additives, extraction of biopolymers, biofuels, and biomolecules. During the processing of seaweed, many by-products are produced which are useful in many applications.
Many countries in the world have embarked on extensive research on many varieties of seaweeds and in the process several active compounds like phenolic compounds and flavonoids have been obtained. These essential compounds have their strong advantages in the cosmetic bases compared to more than many components and this revolution is mainly owing to the attention paid to the phenolic compounds of the seaweeds.
The potential of seaweed as a food stabilizing agent and a preservative aroused the interest of big companies that were on the lookout for products that would help prolong the shelf life of their goods.
Seaweeds are also known to prevent the growth of harmful microbes which helps in protecting the perishables from such organisms and also helps in slowing down spoilage. In the sector of cosmetics, due to the high content of one of the significant phenolic constituents namely phlorotannins which provides protection against harmful rays of the sun and promotes anti-aging effects.
The market for seaweed proteins is seen to be on the increase with stakeholders like Qingdao Seawin Biotech Group Co. Ltd, The Seaweed Company, Roquette Klotze GmbH, and Cargill Incorporated pouring immense resources into research and development to revolutionize the various techniques used for protein extraction from seaweeds.
These organizations are focused on innovative and sustainable approaches to making new food products available to the very fast-growing seaweed market. There is also a focus on the production of foods that are healthy with well-balanced nutrition for the consumers.
In addition, several strategies are being used by producers to increase their revenue including introducing new lines of products, creative advertising, and making acquisitions. For example, The Seaweed Company, a seaweed cultivator from the Netherlands, has recently declared a collaboration with a Flemish food producer, the Jordà Food Group.
The goal of the partnership is to create and manufacture ready-to-eat tasty meals containing seaweed sourced from that region in a healthy and environmentally friendly manner.
For example
As per sources, the industry has been categorized into Red Seaweed, Green Seaweed, and Brown Seaweed.
As per extraction method, the industry has been categorized into the Conventional method (Physical process, Enzymatic process, and Chemical process), and the Current method (Ultrasound-Assisted Extraction, Pulsed Electric field, and Microwave Assisted Extraction).
This segment is further categorized into Food & Beverages, Industrial Applications, Animal Feed, Aquaculture and Cosmetics, and Personal Care.
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
The global industry is estimated at a value of USD 507.8 million in 2024.
Sales increased at 8.2% CAGR between 2019 and 2023.
Some of the leaders in this industry include the Seaweed Company, Gelymar, Acadian Seaplants, Qingdao Gather Great Ocean Algae Industry Group, Roquette Klotze GmbH, Cargill, Incorporated, Qingdao Seawin Biotech Group Co. Ltd., CP Kelco U.S., Inc., AquAgre Processing Pvt. Ltd and others.
The East Asian territory is projected to hold a revenue share of 19.4% over the forecast period.
The industry is projected to grow at a forecast CAGR of 9.8% from 2024 to 2034.
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