Covina, Aug. 16, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the global seaweed protein market size and share is projected to grow from USD 733.1 Million in 2024 and is forecasted to reach USD 2110 Million by 2034, exhibiting a compound annual growth rate (CAGR) of 12.3% during the forecast period (2024 - 2034).
Seaweed Protein Market Report Overview
Seaweed protein describes the protein content found in different species of marine algae, more colloquially known as seaweed. These underwater plants have recently gained the spotlight as an emerging more sustainable and healthy form of protein; this would work as a prospective substitute for traditional animal-based proteins. Seaweeds are rich in essential amino acids that give them the potential to be considered a complete protein source like eggs or soybeans. The protein content of several seaweed species can range as low as to as high as 47% protein by dry weight in some red algae. Seaweed proteins manifest great digestibility and bioavailability; that is, they can be absorbed and utilized well by the human body.
The protein content in algae has several health benefits, ranging from building and repairing muscle to helping with weight control and cellular function. In most cases, seaweed proteins are attached to other nutrients—vitamins, minerals, and antioxidants—that increase their nutritional value. On the environmental front, cultivation requires no land, freshwater, or fertilizers, making it very sustainable with a low carbon footprint.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The Seaweed Protein Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Cargill, Incorporated
- DuPont de Nemours, Inc.
- CP Kelco U.S., Inc.
- Acadian Seaplants Limited
- Qingdao Gather Great Ocean Algae Industry Group Co., Ltd.
- Mara Seaweed
- Seasol International Pty Ltd
- Irish Seaweeds
- AtSeaNova
- Algaia
- Gelymar S.A.
- Algea (a Valagro Company)
- Seaweed & Co.
- Ocean Harvest Technology
- The Seaweed Company
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Analyst View:
Seaweed Protein market is expanding rapidly as a sustainable and viable source of protein. Comparing seaweed farming to traditional agriculture is known to have a lower environmental impact. Seaweed is an extremely sustainable source of protein as it doesn’t require freshwater, land for cultivation, or fertilizers.
Market Dynamics:
Drivers:
Rising Demand for Plant-Based Proteins
- The Seaweed Protein market is primarily driven by the worldwide trend toward plant-based diets. Plant-based protein sources are in high demand as a result of consumers' growing desire for sustainable and health-conscious alternatives to animal-based proteins. As it is high in minerals and essential amino acids, seaweed protein is becoming more and more valued as a plant-based protein source.
Sustainability and Environmental Benefits
- Comparing seaweed farming to traditional agriculture, it is known to have a lower environmental impact. Seaweed is an extremely sustainable source of protein because it doesn’t require fertilizers, freshwater, etc. Additionally, absorbing significant amounts of carbon dioxide and lowering ocean acidification seaweed farming can aid in the mitigation of climate change.
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Market Trends:
Innovation in Product Development
- Seaweed protein is being used by producers more often in creative food and drink items. The industry is growing and customer interest is being raised by the introduction of novel and attractive items including snacks, plant-based meat substitutes, and protein bars made from seaweed. Seaweed protein's acceptance as a natural component is further supported by the trend towards clean-label and minimally processed meals.
Segmentation:
Seaweed Protein Market is segmented based on Source, Extraction Process, Application, and Region.
Source Insights
- This sector includes Red Seaweed, Brown Seaweed, and Green Seaweed. Red Seaweed segment is expected to dominate the target market growth as porphyra that is also called nori, is a type of red seaweed that has more protein than the other seaweeds. Red seaweed protein extracts are frequently more concentrated and have more nutritional value, which makes them desirable choice for usage in food and dietary supplements.
Extraction Process Insights
- In the target market, modern methods are the most dominant sector as they employ advanced technologies such as enzymatic hydrolysis, supercritical fluid extraction, and also ultrasound-assisted extraction. These techniques significantly enhance the efficiency and yield of seaweed protein extraction compared to conventional methods.
Application Insights
- In the target market food and beverage is the most dominant segment as the high nutritional content of seaweed protein which includes vital amino acids, vitamins, minerals, and antioxidants makes it essential. It provides a nutrient-dense, plant-based protein source that is good for general health.
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Recent Development:
- In March 2024, Based in Berkeley, California, Umaro Foods is an alternative protein company. After experiencing a significant increase in sales, the company reported a successful second funding round, raising an estimated $3.8 million. With this additional capital, the company is getting ready to launch its products—which are currently only available in wholesale and a few restaurants—into retail markets. The company employs protein produced from red seaweeds to create a plant-based substitute for hog bacon.
Regional Insights
- North America: In this region, there is a growing inclination among consumers towards plant-based and functional foods, along with a strong tendency towards health and good health. Seaweed protein fits in perfectly with these trends because of its high nutritious content.
- Asia Pacific: In this region, in countries like China and India rapid economic expansion and urbanization are causing dietary preferences to shift and the demand for a wider variety of products to rise.
Browse Detail Report on "Seaweed Protein Market Size, Share, By Source (Red Seaweed, Brown Seaweed, and Green Seaweed), By Extraction Process (Conventional Methods, and Modern Methods), By Application (Food and Beverage, Animal Feed, Personal Care and Cosmetics, Pharmaceuticals, and Others), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/seaweed-protein-market-5546
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