Seaweed Protein Market by Source (Red Seaweed, Brown Seaweed, and Greed Seaweed), Application (Food and Beverages, Animal Feed, Personal Care, and Others): Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 670 million mark in 2022 and is expected to hit US$ 1770 million by 2030, recording a CAGR of 14.0% during the forecast period.
Seaweed protein market has been significantly growing with higher demand for alternative proteins.
Increased demand for natural ingredients-based products by consumers, growing demand for green seaweed in beverages, and rising consumer preference for seaweed protein-based snacks products are some of the major factors driving the growth of the market.
The red seaweed segment is expected to pace owing to high level of protein and diverse application. Further, other segments such as green seaweed and brown seaweed is also expected to gain traction during the forecasted year.
Within the report, the market is segmented into source, application, and geography. By source, the market is further segmented into red seaweed, green seaweed, and brown seaweed. By application, the market is categorized into food and beverages, animal feed, personal care, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing consumer awareness about health benefits of seaweed protein has empowered the growth of futuristic innovations.
Seaweeds are rich in vitamins, minerals, and micronutrients which aids the promotion of good health. Rising demand for plant-based protein supplements in various industries such as food and beverages, personal care, and others has expected to surge the demand for seaweed protein. Rising consumer inclination towards demand for alternative proteins in food and beverages has further attributed the market demand. Seaweed contains essential amino acid such as lysine, methionine, and other which are essential for tissue repair, protein synthesis, and nutrient absorption, thereby surging its demand.
Rising adoption in various industries is one of the major factors accelerating the market growth.
The industries for seaweed protein are food and beverage, animal feed, personal care, and others. Within these industries, food and beverages industry is one such industry, wherein the use of seaweed protein is increasing owing to ongoing development and innovations in the use of seaweed in food products for emulsifying, gelling, preserving, and thickening. Further, use of seaweed protein in sport nutrition to increase the protein intake of athletes is further attributing the market growth. The animal nutrition industry has also witnessed an extensive use of seaweed protein in feed products owing to increased demand for animal health and nutrition.
Recent strategic developments in seaweed protein market
The seaweed protein market has undergone several significant developments, and a few of these have been mentioned below:
- In June 2021, CP Kelco U.S., Inc. opened a new innovation center which will serve as an open environment for scientists and consumer to collaborate on problem solving, ingredient research, and pilot plant scale-up food and beverages, personal care, home care, and other products.
The seaweed protein market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. CP Kelco U.S., Inc., Cargil, Incorporated, Gelymar, Algaia, and Algea are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Seaweed protein related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Application industry of seaweed protein industry
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Red Seaweed
- Brown Seaweed
- Greed Seaweed
- Food and Beverages
- Animal Feed
- Personal Care
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- CP Kelco U.S., Inc.
- Cargil, Incorporated
- CP Kelco U.S., Inc.
- Cargil, Incorporated