The global seaweed protein market is estimated to grow at a CAGR of 11.3 percent over the forecast period, hitting USD 971.7 million by 2032.
The global population is predicted to grow by more than a third (2.3 billion people) by 2050, necessitating a 70% increase in food supplies. Even though the worldwide population has doubled in half a century, new agricultural food production methods and increased average per capita income have reduced global hunger. Global food production, on the other hand, is more demanding than ever.
Previously used intensification methods will soon be obsolete due to their high environmental impact trade-offs, such as destabilizing 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.
One of the most crucial nutrients that will become increasingly scarce in the future is protein. To address consumer demand and future global protein requirements, alternative protein sources and manufacturing technologies are required.
Aspects of the Market Research that Should Be Considered
- The seaweed protein market is predicted to increase at a CAGR of 11.3 percent over the forecast period.
- The source section is dominated by red seaweed, which accounts for around 52.7 percent of sales and is expected to grow at a CAGR of 8.9% over the estimated period.
- Traditional extraction is expected to lead the seaweed protein market, accounting for about 43.5 percent of revenue and rising at an annual pace of 8.6 percent throughout the projected period.
- Food & beverage is the most popular application, accounting for around 42.1 percent in 2022 and expanding at a CAGR of 9% throughout the forecast period.
Environment of Competition
To deliver new and distinctive product offerings, key competitors in the global seaweed protein market are focusing their efforts on R&D. Furthermore, these market leaders are concentrating on mergers, acquisitions, and joint ventures to expand their regional presence and increase their present production capacity.
6 May 2021, Schiedam – Last year, the Seaweed Company began a pilot operation off the coast of the Netherlands at the Offshore Test Site. The goal of the pilot is to put the seaweed infrastructure of the ‘Cultivator to the test in the tough North Sea conditions. The Seaweed Company, one of the pilot’s partners, is overjoyed to report that the installation exceeded expectations during the March storm.
Here’s where you can find more information.
Future Market Insights has released a new report that provides an unbiased analysis of the global seaweed protein market, including historical data (2017-2021) and projected figures for the years 2022-2032.
