Seaweed Protein Market Study Based on Demand Side Trends with Future Growth Scenario by 2032

PRESS RELEASE

Published March 21, 2023

The global seaweed protein market is expected to witness growth at a CAGR of 11.3% in the forecasted period and to be valued more than USD 971.7 Mn by 2032.

The world’s population is expected to grow by more than a 1/3 (2.3 billion people) by 2050, requiring a 70% increase in the food supply. Even though the world’s population has doubled in half a century, new agricultural food production technology and an increase in average per capita income have resulted in a reduction in world hunger. Food production, on the other hand, is more challenging than it has ever been on a global scale.

Previously used methods of intensifying agriculture will soon be obsolete due to their high environmental impact trade-offs, such as destabilization natural ecosystems and threatening biodiversity, production of greenhouse gases from land clearing, terrestrial ecosystems, animal livestock production, freshwater, and nutrient run-off from fertilizer damaging marine.

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Protein, in particular, is one of the most important nutrients that will be scarce in the future. To meet consumer demand and projected global protein requirements, alternative protein sources and manufacturing methods are necessary.

Key Takeaways from Market Study

The seaweed protein market is expected to expand at CAGR of 11.3% over the forecasted period.
Among the source, red seaweed is dominating the segment holding around 52.7% of the revenue and it is expected to grow with CAGR of 8.9% over the forecasted period.
Among the extraction method segment, conventional method is expected to dominate the seaweed protein market holding more than 43.5% revenue share and it is expected to grow with around 8.6% CAGR over the forecast period.
Food & beverage is dominating the application segment holding around 42.1% in 2022 and it is expected to grow with CAGR of 9% over the forecasted period.

“The seaweed protein market is expected to grow at a bolstering rate owing to the future demand for alternate protein most human applications, such as food, supplements, and cosmetics, choose seaweed protein-based products since they have no negative side effects.” says a Future Market Insights analyst.

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Competitive Landscape

Key manufacturers of global seaweed protein market are majorly focusing on research & development in order to develop innovative and unique product offering. In addition to this these key players in the seaweed protein market are also concentrating on merger, acquisition and joint ventures to expand their geographical presence and also to increase the existing production capacity.

6 May 2021, Schiedam – Last year, The Seaweed Company began a pilot project off the coast of the Netherlands at the Offshore Test Site. The goal of the pilot is to put the ‘Cultivator’s seaweed infrastructure to the test in the severe conditions of the North Sea. The Seaweed Company, one of the pilot’s partners, is overjoyed to report that the installation exceeded expectations during the storm in March.

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Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global seaweed protein market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on Source (Red seaweed, Green seaweed, Brown seaweed), by Extraction method (Conventional Method, Current Method), by Application (Food & Beverages, Industrial Application, Animal Feed, Aquaculture, Cosmetics and Personal Care) across seven major regions of the world.

Read Other Related Report:

Seaweed Extracts Market Size: Seaweed extracts market driving factors are increasing demand for seaweed extracts in agriculture industries which helps in improving seed germination.

Seaweeds Market Demand: The global seaweeds market is expected to be valued at US$ 7.79 billion in 2023. The seaweeds market size is projected to reach US$ 19.66 billion by 2033.

Seaweed Derived Minerals Market Forecast: The seaweed derived minerals market currently hosts a number of players engaged in product innovation and marketing them for the health conscious demo graph.

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