Global Seaweed Protein Market Overview:
According to SPER Market Research, the Global Seaweed Protein Market is estimated to reach USD 2.23 billion by 2032 with a CAGR of 14.33%.
Seaweeds are a type of marine algae which are a rich source of protein. They are basically of three types-red, green and brown. The Global Seaweed Protein Market has grown rapidly in the past few years and is expected to maintain its momentum and keep on growing. The major factor driving the growth of this market is the increasing health care and self-care awareness among consumers. As a result of the rising emphasis on holistic health and immunity, there is an increasing desire among customers for alternate protein sources. Seaweeds are considered to be complete protein sources as they contain all nine essential amino acids which are an essential part of protein synthesis, tissue repair and nutrient absorption which makes seaweed a great alternate protein source. The increased demand of customers for natural-based ingredients products is another major factor contributing to the market growth. Consumers have started shifting from animal proteins to plant-based proteins hence leading to the expansion of the market for plant protein components.
Seaweed is not only a rich source of protein but it also contains micronutrients such as vitamins and minerals, dietary fibers, antioxidants, antibacterial and antiviral components. The wide range of biomolecules present in seaweed makes it applicable in various industries like nutraceuticals, cosmetics, functional foods, medicines, animal feed, etc. By Source the red seaweed is expected to hold the largest market share in the forecast period. The high level of protein content and their fibrous composition assist in regulating blood circulation and blood flow throughout the body, managing blood sugar levels and lowering the excessive cholesterol level in the body. These advantages provided by the red seaweed are responsible for their rising demand in the food and pharmaceutical industries. The conventional extraction methods are the ones commonly used for extracting proteins from seaweeds such as Palmana palmata, Ula fasciata, Sargassum vulgare, and Porphyra sp.
Impact of COVID-19 on the Global Seaweed Protein Market
COVID-19 pandemic has had a significant level of impact on the Global Seaweed Protein Market worldwide. The outlook for economic progress across most of the countries seems to be positive. The impact can be presented through three scenarios; Low growth: in this scenario economic recovery will be slow; there will be supply chain disruption and weak consumer demand, Medium growth: the economic growth will be fast and consumer demand will grow moderately but there will still be disruption in supply chain, and High growth: the economic growth will be fast, no supply chain disruption anymore and strong consumer demand.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Source, By Extraction Process, By Application, By Form |
| Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Algaia, Algea, ALGAplus, Arctic Company, Baoji Earay Bio-Tech Co., Ltd, Brightmoon Seaweed Co Group Co. Ltd, CP Kelco U.S.,Inc., Cargill Incorporated, Green Rise Agro Industries, MYCSA Ag, Inc., Ocean rainfore, Qingdao Gather Great Ocean Algae Industry Group Co, Ltd, Qingdao Brightmoon Seaweed Co Group Co. Ltd, Rongcheng Jingyi Ocean Technology Co., Ltd., Seaweed & Co., Shore Seaweed, Sar Agrochemicals & Fertilizers Pvt. Ltd., Thorverk hf., VietDelta Ltd
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Global Seaweed Protein Market Segmentation:
By Source: Based on the Source, Global Seaweed Protein Market is segmented as; Red seaweeds (Red seaweed-derived proteins are largely used in salads, snacks, and sushi, Porphyra supplement, Palmaria palmata), Brown seaweeds (Rich in aspartic and glutamic amino acids, Laminaria supplement., Undaria pinnatifida, Fucus vesiculosus), Green seaweeds (Emerging use of green seaweeds in the processed food industry, Ulva supplement, Enteromorpha supplement).
By Extraction Process: Based on the Extraction Process, Global Seaweed Protein Market is segmented as; Conventional method (Physical processes, Enzymatic hydrolysis, Chemical extraction), Current method (Ultrasound-assisted extraction, Pulsed electric field, Microwave-assisted extraction).
By Application: Based on the Application, Global Seaweed Protein Market is segmented as; Food (Increase in application of seaweed protein as a functional ingredient in processed food), Animal feed and additives (Protein extracted from red and green seaweeds is a source of feed for ruminants), Personal care and cosmetics (Seaweed protein is used as a source for producing skin care products), Other applications.
By Form: Based on the Form, Global Seaweed Protein Market is segmented as; Dry form (Powder, Flakes, Other forms), Liquid form.
By Region: Asia-Pacific is expected to hold the largest share of the seaweed market in the forecasted period, followed by Europe and North America. The U.S. populace is becoming more interested in seaweeds due to their abundance in micronutrients, vitamins, and minerals, all of which promote excellent health. Major firms are also looking for strategic alliances and partnerships to assist them expand the reach of their products on the worldwide market.
1.2. Market segment analysis
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
3.Executive Summary
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.2. COVID-19 Impacts of the Global Seaweed Protein Market
5.Market variables and outlook
5.2.1 Political landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.3 Porter’s five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
6.Global Seaweed Protein Market, By Source, 2019-2032 (USD Million)
6.1.1 Red seaweed-derived proteins are largely used in salads, snacks, and sushi
6.1.2 Porphyra supplement
6.2.1 Rich in aspartic and glutamic amino acids
6.2.2 Laminaria supplement
6.2.3 Undaria pinnatifida
6.3.1 Emerging use of green seaweeds in the processed food industry
6.3.3 Enteromorpha supplement
7.Global Seaweed Protein Market, By Extraction Process, 2019-2032 (USD Million)
7.1.2 Enzymatic hydrolysis
7.1.3 Chemical extraction
7.2.1 Ultrasound-assisted extraction (UAE)
7.2.2 Pulsed electric field (PEF)
7.2.3 Microwave-assisted extraction (MAE)
8.Global Seaweed Protein Market, By Application, 2019-2032 (USD Million)
8.1.1 Increase in application of seaweed protein as a functional ingredient in processed food
8.2 Animal feed and additives
8.2.1 Protein extracted from red and green seaweeds is a source of feed for ruminants
8.3 Personal care and cosmetics
8.3.1 Seaweed protein is used as a source for producing skin care products
9.Global Seaweed Protein Market, By Form, 2019-2032 (USD Million)
10. Global Seaweed Protein Market, By Region, 2019-2032 (USD Million)
10.3.6 Rest of Asia-Pacific
10.4.3 Rest of South America
10.5 Middle East & Africa
10.5.1 Kingdom of Saudi Arabia
10.5.2 United Arab Emirates
10.5.3 Rest of Middle East & Africa
11. Company Profiles
11.1 Algaia
11.1.4 Recent developments
11.2.4 Recent developments
11.3.4 Recent developments
11.4.4 Recent developments
11.5 Baoji Earay Bio-Tech Co., Ltd
11.5.4 Recent developments
11.6 Brightmoon Seaweed Co Group Co. Ltd
11.6.4 Recent developments
11.7.4 Recent developments
11.8 Cargill Incorporated
11.8.4 Recent developments
11.9 Green Rise Agro Industries
11.9.4 Recent developments
11.10.2 Financial outlook
11.10.4 Recent developments
11.11.2 Financial outlook
11.11.4 Recent developments
11.12 Qingdao Gather Great Ocean Algae Industry Group Co, Ltd
11.12.2 Financial outlook
11.12.4 Recent developments
11.13 Qingdao Brightmoon Seaweed Co Group Co. Ltd
11.13.2 Financial outlook
11.13.4 Recent developments
11.14 Rongcheng Jingyi Ocean Technology Co., Ltd.
11.14.2 Financial outlook
11.14.4 Recent developments
11.15.2 Financial outlook
11.15.4 Recent developments
11.16.2 Financial outlook
11.16.4 Recent development
11.17 Sar Agrochemicals & Fertilizers Pvt. Ltd.
11.17.2 Financial outlook
11.17.4 Recent development
11.18.2 Financial outlook
11.18.4 Recent development
11.19.2 Financial outlook
11.19.4 Recent development