According to the report, the global Seaweed Protein industry generated $550.40 million in 2021, and is estimated to reach $1.51 billion by 2030, witnessing a CAGR of 11.6% from 2022 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers and Opportunities
The need for healthy plant-based products, a rise in occurrence of various diseases, increased awareness regarding health and fitness among consumers, the extensive use of seaweeds in dietary supplements due to their nutritional worth, flavor-enhancing capabilities and weight-loss properties and the presence of high concentration of bioactive compounds in seaweeds drive the growth of the global seaweed protein market. However, seaweed farming is more expensive than land farming. In addition, excessive consumption of seaweed is associated with health problems due to the presence of toxic minerals.
Regional Analysis:
Asia-Pacific to maintain its dominance in terms of revenue by 2030
Based on region, Asia-Pacific held the highest market share in 2021, accounting for more than one-third of the global seaweed protein market, and is expected to maintain its dominance during the forecast period. Seaweed has traditionally been used in food and supplements in Asian nations, and therefore, the demand for seaweed protein is expected rise sharply in the coming years. However, North America is projected to manifest the fastest CAGR of 13.4% during the forecast period, owing to the high demand for plant-based products in the region. The other regions discussed in the report are Europe and LAMEA.
Key Players Are:
The key players profiled in the seaweed protein market include CP Kelco, Cargill, Incorporated, Qingdao Gather Great Ocean Algae Industry Group CO. LTD, Mara Seaweed, ASL, Irish Seaweeds, AtSeaNova, ALGAIA, Seasol, and Maine Coast Sea Vegetables.
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Seaweed farming is more expensive than land farming, which is projected to hinder the global market expansion. Also, excessive consumption of seaweed can cause health problems due to presence of toxic minerals. Therefore, all such factors are anticipated to hamper the seaweed protein market share during the forecast period.
Key findings of the study
- On the basis of type, the red sub-segment was the fastest growing in the base year and is predicted to have a dominating share in the global market during the forecast period
- On the basis of application, the food sub-segment was the fastest growing in the base year and the animal feed & additives sub-segment is projected to have dominating share in the global market during the forecast period
- On the basis of region, North America region is projected to remain the fastest-growing region during the forecast period. Asia-Pacific region is projected to have a dominating market share by 2030.
- In depth study is conducted to understand the seaweed protein market analysis.
- Major countries in each region are mapped according to their revenue contribution to the global seaweed protein market forecast.
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Increased use of seaweed in dietary supplements due to its nutritional worth, flavor-enhancing capabilities, and weight-loss properties has driven seaweed protein demand. Seaweeds also have a high concentration of bioactive compounds, antioxidants, and antibacterial properties, making them appropriate for a number of medicinal uses. In addition, new uses for seaweed have raised demand in recent years. In the textile business, it is used as a thickener, and in agriculture, it is used to improve soil quality. the above mentioned factors are anticipated to propell the seaweed protein market opportunities over the forecast period.
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