Seaweed Protein Market Size, Share and Business Analysis Report 2022- By Source, By Extraction Process, By Application, By Form, Future Outlook, Growth Opportunity and Forecast to 2032: SPER Market Research
According to SPER Market Research, the Seaweed Protein Market is estimated to reach USD 2.23 billion by 2032 with a CAGR of 14.33%. The factors driving the growth of this market are the increasing health care and self-care awareness among the customers leading to the rising demand for alternate protein sources, hence fueling the growth of the Global Seaweed Protein Market. The growing government initiative to increase seaweed cultivation also helps in the expansion of the market. The transition of customer preferences from animal protein to plant-based protein plays a major role in the increasing demand for seaweed proteins.
The advantages provided by red seaweed over other seaweed sources such as regulating blood circulation and blood flow in the body, managing blood sugar levels and lowering excessive cholesterol levels in the body; have significantly increased its demand in the food and pharmaceutical industries. The presence of a variety of biomolecules in seaweeds makes them applicable in various industries like nutraceuticals, cosmetics, medicine, functional food and feeds.
Seaweed Protein Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 14.33%
- Forecast Market Size (2032): 2.23 billion
Global demand for seaweed protein has been significantly impacted by the COVID-19 epidemic. The majority of the countries appear to have a bright future for economic growth. Three scenarios can be used to illustrate the impact: Low growth, which predicts a slow economic recovery, supply chain disruption, and weak consumer demand; Medium growth, which predicts a fast economic recovery and moderate consumer demand growth; and High growth, which predicts a swift economic recovery, no supply chain disruption, and strong consumer demand.
Impact of COVID-19 on the Seaweed Protein Market
COVID-19 pandemic has had a significant level of impact on the Global Seaweed Protein Market worldwide. The outlook for economic progress across most of the countries seems to be positive. The impact can be presented through three scenarios; Low growth: in this scenario economic recovery will be slow; there will be supply chain disruption and weak consumer demand, Medium growth: the economic growth will be fast and consumer demand will grow moderately but there will still be disruption in supply chain, and High growth: the economic growth will be fast, no supply chain disruption anymore and strong consumer demand.
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Seaweed Protein Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
- Red seaweeds (Red seaweed-derived proteins are largely used in salads, snacks, and sushi, Porphyra supplement, Palmaria palmata)
- Brown seaweeds (Rich in aspartic and glutamic amino acids, Laminaria supplement., Undaria pinnatifida, Fucus vesiculosus)
- Green seaweeds (Emerging use of green seaweeds in the processed food industry, Ulva supplement, Enteromorpha supplement)
By Extraction Process:
- Conventional method (Physical processes, Enzymatic hydrolysis, Chemical extraction)
- Current method (Ultrasound-assisted extraction, Pulsed electric field, Microwave-assisted extraction)
- Food (Increase in application of seaweed protein as a functional ingredient in processed food)
- Animal feed and additives (Protein extracted from red and green seaweeds is a source of feed for ruminants)
- Personal care and cosmetics (Seaweed protein is used as a source for producing skin care products)
- Dry form (Powder, Flakes, Other forms)
- Liquid form
- North America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Seaweed Protein Market Key Players:
The Seaweed Protein Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Algaia, Algea, ALGAplus, Arctic Company, Baoji Earay Bio-Tech Co., Ltd, Brightmoon Seaweed Co Group Co. Ltd, CP Kelco U.S.,Inc., Cargill Incorporated, Green Rise Agro Industries, MYCSA Ag, Inc., Ocean rainfore, Qingdao Gather Great Ocean Algae Industry Group Co, Ltd, Qingdao Brightmoon Seaweed Co Group Co. Ltd, Rongcheng Jingyi Ocean Technology Co., Ltd., Seaweed & Co., Shore Seaweed, Sar Agrochemicals & Fertilizers Pvt. Ltd., Thorverk hf., VietDelta Ltd.
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