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
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Details
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Report Title
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Seaweed Protein Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2022–2030
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Segmentation
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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
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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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
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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
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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.
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