Seaweed Protein Market Size, Analysis, Share & Forecast 2031
Seaweed Protein Market Size, Analysis, Share & Forecast 2031
Segments - Seaweed Protein Market by Sources (Red Seaweed, Brown Seaweed, and Green Seaweed), Applications (Food & Beverages, Animal Feed & Additives, Personal Care & Cosmetics, Pharmaceutical & Nutraceutical, and Others), Extraction Processes (Conventional Method and Current Method), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030
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Report Description
The global seaweed protein market size was valued at USD 470.2 million in 2021 and is expected to surpass USD 1285.4 million by 2030, expanding at a CAGR of 13.7% during the forecast period, 2022–2030. The growth of the market is attributed to the increasing consumption of nutritional supplements, rising demand for animal feed, and wide applications of seaweed protein in various applications across industries.
Seaweed protein is a naturally-derived and plant-based protein that has a high level of protein content and fiber, which are used for culinary purposes. Seaweed or edible seaweed is a type of algae primarily grown in shallow waters and polluted waters, which are the dumping places for industrial waste and sewage systems. The algae absorb heavy metals from the chemical materials released in the water and the consumption of these algae for a certain amount is safe and offers several health benefits.
Red algae, brown algae, and green algae are key types of seaweed and the level of protein content differs from one type to another. These algae are widely used in various applications in food & beverage items, food supplements, pharmaceutical products, and animal feed additives. Seaweeds act as anti-inflammatory agents, plant proteins, natural antioxidants, and other metabolites that aid in restoring food quality and safety.
The COVID-19 pandemic had affected the market expansion due to the sudden disruption in the supply chain and delay in extraction processes of seaweed protein, impacted by the prolonged shutdown of the manufacturing units and adverse impact on the food & beverages industry. The market in China, one of the largest suppliers of seaweed proteins globally, had been crumbled by the pandemic. However, growing awareness regarding healthy food products among the global population to boost the immune system, which plays a vital role in preventing virus infection offers a key factor that can fuel the market expansion in the near future.
Seaweed Protein Market Trends, Drivers, Restraints, and Opportunities
- Changing lifestyles of the global population, rising spending on organic food & beverage items, and the wide popularity of commercial seaweed are key factors driving the market.
- Rising demand for plant-based protein by the vegan population, as an alternative source of animal-derived protein, presents another key driver of the market.
- Excessive consumption of perennial seaweeds may cause health issues due to the high level of metal toxicity in the weeds. This is a major challenge anticipated to hamper the market in the coming years.
- High cost of seaweed protein extraction processes acts as a key restraining factor that can impede the market.
- Several R&D programs and technological advancements for cost-effective extraction processes of seaweed are offering several growth opportunities for the market.
Scope of Seaweed Protein Market Report
The report on the global seaweed protein market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Seaweed Protein Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2021 |
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Historic Data |
2019–2020 |
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Forecast Period |
2022–2030 |
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Segmentation |
Sources (Red Seaweed, Brown Seaweed, and Green Seaweed), Applications (Food & Beverages, Animal Feed & Additives, Personal Care & Cosmetics, Pharmaceutical & Nutraceutical, and Others), and Extraction Processes (Conventional Method and Current Method) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Cargill, Inc.; CEAMSA; Acadian Seaplants; Gelymar S.A.; Algaia; Aquagri Processing Private Ltd.; Beijing Leili Agriculture Co. Ltd.; Agrocare; Compo Expert GmBH; Trophic LLC; Extractos Naturales; CP Kelco U.S., Inc.; Mara Seaweed; Le Groupe Roullier; AtSeaNova; The Seaweed Company; Qingdao Gather Great Ocean Algae Industry Group Co. Ltd.; Irish Seaweeds; and Seasol International |
Seaweed Protein Market Segment Insights
Red seaweed segment to expand at a steady growth rate
Based on sources, the global seaweed protein market is divided into red seaweed, brown seaweed, and green seaweed. The red seaweed segment accounted for a large market share in 2021 and is expected to expand at a steady growth rate during the forecast period owing to its high level of protein content and other nutrients including minerals, which offer several health benefits.
Consumption of red seaweed helps in regulating blood circulation, managing sugar levels, and reducing cholesterol levels. Furthermore, red seaweeds are widely used in various pharmaceutical products due to their high natural nutrients and bioactive substances.
Rising demand for organic foods & beverages drives the food & beverages segment
In terms of applications, the market is segmented into food & beverages, animal feed & additives, personal care & cosmetics, pharmaceutical & nutraceutical, and others. The food & beverages segment held a dominant market share in 2021 and is anticipated to expand at a robust growth rate during the forecast period due to rising demand for organic food & beverage items. Seaweed protein is widely used as a natural food additive, which has several applications in food items such as cereal bars, breadsticks, and semi-sweet biscuits. Moreover, the increasing introduction of seaweed protein-based beverage items and nutritional drinks using the protein further boost the segment.
Conventional method segment to register a considerable CAGR
On the basis of extraction processes, the global seaweed protein market is bifurcated into conventional method and current method. The conventional method segment accounted for a dominant market share in 2021 and is projected to register a considerable CAGR during the forecast period due to the wide adoption of the conventional method in the extraction process of various seaweed species.
Aqueous treatment & potter homogenization, high shear force, and osmotic stress are the key processes that come under the method, and these processes aid in easy, minimal, and effective protein extraction from several seaweeds including sargassum vulgare, porphyra, and palmaria palmata.
Asia Pacific to dominate the market
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific held a major share in 2021 and is expected to dominate the market during the projected period owing to the wide consumption of seaweeds as a staple diet among a large population of countries including Japan, South Korea, and China. The rising health-conscious population in the region, the rapid growth of the pharmaceutical & nutraceutical industry, and the massive expansion of the food & beverage products integrating seaweed protein are other key factors boosting the regional market.
On the other hand, the market in Europe is likely to constitute a key market share in the coming years owing to the presence of a large pool health-conscious population and a rising vegan population in the region. Favorable government policies towards the wide extraction of several algae species and growing awareness among the population regarding the health issues associated with high consumption of meats further boost the regional market. As people are increasingly aware of the health benefits of seaweed protein consumption, the European Commission considered that seaweed protein could be a vital alternative source of plant-based protein that might have a positive impact on the global sustainable food products and strengthen the food security system.
Segments
The global seaweed protein market has been segmented on the basis of
Sources
- Red Seaweed
- Brown Seaweed
- Green Seaweed
Applications
- Food & Beverages
- Animal Feed & Additives
- Personal Care & Cosmetics
- Pharmaceutical & Nutraceutical
- Others
Extraction Processes
- Conventional Method
- Current Method
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Cargill, Inc.
- CEAMSA
- Acadian Seaplants
- Gelymar S.A.
- Algaia
- Aquagri Processing Private Ltd.
- Beijing Leili Agriculture Co. Ltd.
- Agrocare
- Compo Expert GmBH
- Trophic LLC
- Extractos Naturales
- CP Kelco U.S., Inc.
- Mara Seaweed
- Le Groupe Roullier
- AtSeaNova
- The Seaweed Company
- Qingdao Gather Great Ocean Algae Industry Group Co. Ltd.
- Irish Seaweeds
- Seasol International
Competitive Landscape
Key players competing in the global seaweed protein market are Cargill, Inc.; CEAMSA; Acadian Seaplants; Gelymar S.A.; Algaia; Aquagri Processing Private Ltd.; Beijing Leili Agriculture Co. Ltd.; Agrocare; Compo Expert GmBH; Trophic LLC; Extractos Naturales; CP Kelco U.S., Inc.; Mara Seaweed; Le Groupe Roullier; AtSeaNova; The Seaweed Company; Qingdao Gather Great Ocean Algae Industry Group Co. Ltd.; Irish Seaweeds; and Seasol International.
Some of these players have adopted a series of business development strategies including merger and acquisition, partnership and collaboration, and production capacity expansion to expand their consumer base and enhance their market share.
For instance,
- On March 21, 2022, a US-based natural-based ingredient solution provider, CP Kelco U.S., Inc. entered into a partnership with a food-based startup, Shiru, Inc. to work together in the venture of development of advanced plant-based proteins in the transition to a sustainable food system.
Frequently Asked Questions
The key players of the market are Cargill, Inc.; CEAMSA; Acadian Seaplants; Gelymar S.A.; Algaia; Aquagri Processing Private Ltd.; Beijing Leili Agriculture Co. Ltd.; Agrocare; Compo Expert GmBH; Trophic LLC; Extractos Naturales; CP Kelco U.S., Inc.; Mara Seaweed; Le Groupe Roullier; AtSeaNova; The Seaweed Company; Qingdao Gather Great Ocean Algae Industry Group Co. Ltd.; Irish Seaweeds; and Seasol International.
Asia Pacific held a major share in 2021 and is expected to dominate the market during the projected period.
The key drivers of the market include the increasing consumption of nutritional supplements, rising demand for animal feed, and wide applications of seaweed protein in various applications across industries.
The food & beverages segment held a dominant market share in 2021 and is anticipated to expand at a robust growth rate during the forecast period.
The global seaweed protein market size was valued at USD 470.2 million in 2021 and is expected to surpass USD 1285.4 million by 2030.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Seaweed Protein Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Seaweed Protein Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Seaweed Protein Market - Supply Chain
4.5. Global Seaweed Protein Market Forecast
4.5.1. Seaweed Protein Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Seaweed Protein Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Seaweed Protein Market Absolute $ Opportunity
5. Global Seaweed Protein Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Seaweed Protein Market Size and Volume Forecast by Applications
5.3.1. Food & Beverages
5.3.2. Animal Feed & Additives
5.3.3. Personal Care & Cosmetics
5.3.4. Pharmaceutical & Nutraceutical
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Seaweed Protein Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Seaweed Protein Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Seaweed Protein Demand Share Forecast, 2019-2026
7. North America Seaweed Protein Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Seaweed Protein Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Seaweed Protein Market Size and Volume Forecast by Applications
7.4.1. Food & Beverages
7.4.2. Animal Feed & Additives
7.4.3. Personal Care & Cosmetics
7.4.4. Pharmaceutical & Nutraceutical
7.4.5. Others
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Seaweed Protein Demand Share Forecast, 2019-2026
8. Latin America Seaweed Protein Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Seaweed Protein Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Seaweed Protein Market Size and Volume Forecast by Applications
8.4.1. Food & Beverages
8.4.2. Animal Feed & Additives
8.4.3. Personal Care & Cosmetics
8.4.4. Pharmaceutical & Nutraceutical
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Seaweed Protein Demand Share Forecast, 2019-2026
9. Europe Seaweed Protein Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Seaweed Protein Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Seaweed Protein Market Size and Volume Forecast by Applications
9.4.1. Food & Beverages
9.4.2. Animal Feed & Additives
9.4.3. Personal Care & Cosmetics
9.4.4. Pharmaceutical & Nutraceutical
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Seaweed Protein Demand Share Forecast, 2019-2026
10. Asia Pacific Seaweed Protein Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Seaweed Protein Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Seaweed Protein Market Size and Volume Forecast by Applications
10.4.1. Food & Beverages
10.4.2. Animal Feed & Additives
10.4.3. Personal Care & Cosmetics
10.4.4. Pharmaceutical & Nutraceutical
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Seaweed Protein Demand Share Forecast, 2019-2026
11. Middle East & Africa Seaweed Protein Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Seaweed Protein Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Seaweed Protein Market Size and Volume Forecast by Applications
11.4.1. Food & Beverages
11.4.2. Animal Feed & Additives
11.4.3. Personal Care & Cosmetics
11.4.4. Pharmaceutical & Nutraceutical
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Seaweed Protein Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Seaweed Protein Market: Market Share Analysis
12.2. Seaweed Protein Distributors and Customers
12.3. Seaweed Protein Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Cargill, Inc.
12.4.2. CEAMSA
12.4.3. Acadian Seaplants
12.4.4. Gelymar S.A.
12.4.5. Algaia
12.4.6. Aquagri Processing Private Ltd.
12.4.7. Beijing Leili Agriculture Co. Ltd.
12.4.8. Agrocare
Methodology
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