The Seaweed protein market is estimated at USD 585 million in 2022; it is projected to grow at a CAGR of 14.1% to reach USD 1131 million by 2027. Increasing awareness regarding nutrition and healthy lifestyles is driving the market for seaweed protein. It is widely known that having a healthy immune system can help reduce the risk or severity of diseases and infections. When combined with proper nutrition, seaweed protein can enhance the body’s natural defenses and immunity. As people become more conscious of holistic wellbeing, and growing population shifting towards a plant-based lifestyle the market for seaweed protein is expected to increase in the coming years.
The growth of this market is estimated to be driven by the increasing health awareness among consumers. Seaweed protein is a growing application of plant-based products. The food and nutrition industries have evolved to give consumers a more personalized experience to compensate for dietary loss through supplemental nutrition.
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The green seaweed segment by type is projected to achieve the highest CAGR growth in the Seaweed protein market.
Over the past couple of years, the green seaweed segment has witnessed significant growth in terms of value sales. Green seaweeds, scientifically known as chlorophyte, gain their green color from beta-carotene, chlorophyll, and various other xanthophylls. Green seaweeds exist in multicellular as well as unicellular form and are mainly found in freshwaters. Green seaweeds can also be grown in marine habitats and can be terrestrially grown on soil, trees, or rocks Green algae, serve as an important food source for humans. It has long been a component of Japanese cuisine. There are about 30 different types of edible seaweed, all of which are naturally high in minerals like calcium, copper, iodine, iron, magnesium, manganese, molybdenum, phosphorus, potassium, selenium, vanadium, and zinc. Sea lettuce, sea palm, and sea grapes are examples of edible green algae. The pigment beta carotene, found in green algae, is used as a food coloring. Carotene has also been proven to be effective in the prevention of some cancers, such as lung cancer. The protein content for green seaweeds is moderate i.e., 9- 26% of dry weight. Some green seaweeds, which contain a high protein level are also processed for the manufacturing of foods.
By extraction, the conventional segment is estimated to account for the largest market share in the Seaweed protein market.
The conventional extraction method includes physical processes methods such as aqueous treatment and Potter homogenization, osmotic stress, and high shear force. This process is mostly used for extracting proteins from different species of seaweeds such as Palmaria palmata, Ulva fasciata, Sargassum vulgare, and Porphyra. Among all the conventional methods of seaweed protein extraction, the enzymatic hydrolysis segment dominated the market. Aqueous treatment and Potter homogenization include physical grinding of cells with the use of a Potter homogenizer significantly followed by immersion in ultra-pure water. The conventional method allows minimal processing which is preferred by customers.
The food segment by mode of application is estimated to account for the largest market share of the Seaweed protein market over the forecast period.
Because of the safety issues connected with synthetic components, demand for seaweed protein-based products is projected to grow significantly in the coming years. Natural food additives have a good impact on consumers health, which has increased demand for protein in food products. Most human applications, such as food, vitamins, and cosmetics, choose seaweed protein-based products since they have no negative consequences. The desire for natural antioxidants, anti-inflammatory agents, plant proteins, and other secondary metabolites is likely to drive up demand for seaweed protein-based products. Other Applications like Semi-sweet biscuits, cereal bars, and breadsticks have all used seaweeds. The nutritional profile of wheat and pasta was also improved by seaweeds.
Europe is projected to achieve the Highest CAGR growth in the Seaweed protein market.
The use of seaweed protein-based products in the pharmaceutical and nutraceutical industries has just increased as people become more aware of the nutritional value and benefits of eating seaweed. The European Commission, CINEA, and a consortium of EurA AG, EABA Systemiq, Technopolis, and s.Pro have developed EU4Algae, which is projected to stimulate demand for seaweed protein in Europe due to the growing health and environmental effect of eating meat products. The European Commission has identified seaweed protein as a major source of alternative protein for a sustainable food system and global food security. This three-year initiative will help Europe establish a regenerative, resilient, equitable, and climate-friendly algae business while also introducing new algae species to the market.
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Key Market Players
The key players in this market include CP Kelco U.S., Inc. (US), Algaia (France), Algea (Norway), Qingdao Gather Great Ocean Algae Industry Group Co, Ltd (China), Qingdao Brightmoon Seaweed Co Group Co. Ltd (China), Cargill Incorporated (US) Gelymar SA (Chile), Ceamsa (Spain), BASF (Germany), Irish Seaweed (Ireland), Dupont Nutrition and Biosciences (US), Compo Expert Group (Germany), Beijing Leili Agricultural Co, Ltd (China), Groupe Roullier (France), Acadian Seaplants (Canada). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.