Selbyville, Delaware, Oct. 04, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Seaweed Protein Market size is anticipated to reach over USD 850 million by 2030.
Rapid consumer inclination toward plant-based products will raise the demand for seaweed protein across the food & pharmaceutical sectors. Seaweeds are an alternative protein source that could help address the drawbacks of existing proteins, while maintaining a sustainable, nutritious diet. The ingredient contains numerous vitamins and minerals that could help prevent chronic diseases like cancer and obesity. Countries like the UK are making promising strides when it comes to developing eco-friendly & sustainable plant-based and alternative protein products.
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Food companies are taking advantage of the growing awareness of plant-based protein alternatives across these regions. Favorable government initiatives to promote a sustainable food system and ease production using efficient farming techniques will offer a potential boost to seaweed protein market. Several conventional and advanced processes are utilized by the companies to extract protein from seaweed sources. Physical process and chemical extraction are two of the conventional methods, while ultrasound-assisted extraction is among the new processes.
Red seaweed segment was anticipated to hold around 44% share of the industry during 2021. The use of red seaweed proteins as a gelling ingredient is growing in the food sector. Companies are looking to improve the overall seaweed cultivation process on a commercial scale. Robust investments by food manufacturers to develop plant-based meat alternatives will drive the acceptance of red seaweed protein over the coming years.
Seaweed protein market share from the pharmaceuticals & nutraceutical applications is anticipated to register over 6.5% CAGR between 2022-2030. Awareness about the nutritional content and advantages associated with the consumption of seaweed protein has boosted product use. Seaweed exhibits various pharmacological bioactivities including anti-inflammatory, anticoagulant, antioxidant, anticarcinogenic, and antiviral. Its use is growing across Asian countries like Japan and India where consumers prefer to directly intake foods that contain beneficial compounds rather than pills.
Browse key industry insights spread across 350 pages with 445 market data tables & 23 figures & charts from the report, “Seaweed Protein Market Size, By Source (Red Seaweed, Green Seaweed, Brown Seaweed), Extraction Process (Conventional, Advance), Application (Food, Animal Feed & Additives, Personal Care & Cosmetics, Pharmaceutical & nutraceuticals, Others), Industry Analysis Report, Regional Outlook, End-user Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/seaweed-protein-market
Europe seaweed protein market value is expected to record over 7% CAGR between 2022 to 2030. Consumers in the region have improved awareness regarding the benefit associated with plant-based proteins. The demand for natural ingredient-based cosmetics & personal care products has attracted new investments to support production activities. In 2022, a consortium of 25 international, cross-disciplinary partners awarded a €9 million Horizon Europe grant to boost seaweed production and market applications across Europe.
Project aims to lay the foundations for the European maritime sector to meet the demand for seaweed-based products & attract new investment from multiple other sectors. Despite the substantial benefits of cultivating organic microalgae for food and feed, the regional market might face a few obstacles, including a lack of automated production solutions.
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Competitive landscape of the global seaweed protein market comprises of organizations such as Dupont, Mara Seaweed, The Seaweed Company, CP Kelco U.S., Inc, Algaia, BASF SE, Gelymer, Ceamsa, Irish Seaweeds, Combo Expert, AtSeaNova, Cargill, Incorporated, and Seasol among many others. These industry players are initiating new partnerships and mergers to scale up their business footprint.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
