According to MarketsandMarkets, the seaweed protein market size is estimated to be valued at USD 465.5 million in 2020. It is projected to reach USD 981.6 million by 2026, recording a CAGR of 13.2% during the forecast period, in terms of value. Factors such as increase in demand for vegan/ vegetarian protein alternatives to meat and dairy, growth in consumer awareness regarding the health benefits of seaweed protein-based products, and increasing industrial, feed-related applications are projected to drive the growth of the seaweed protein industry during the forecast period. However, excessive use of seaweed protein-based products can adversely affect consumers’ health due to toxic minerals such as heavy metal residues. This has led to increasing health concerns globally, which, in turn, serves as a restraining factor for the growth of the seaweed protein market.
"The red seaweed is estimated to dominate the global seaweed protein market, in terms of both value and volume."
Red seaweeds are the largest group of seaweeds that are directly consumed as food due to their high content of protein. As the red seaweeds are nutrition-dense, they are used mainly in various food products, such as soups, salads, snacks, and sushi. Red seaweeds are preferred more due to their nutrition and protein-rich properties compared to brown and green seaweeds. According to NCBI, red seaweeds have almost 47% weight of dry matter. In this regard, the crude protein content of genera Pyropia (dulse) and Porphyra (nori) is comparable with that of high protein plant foods such as soy.On account of these factors, the red seaweed is projected to witness high demand globally.
"Seaweed protein extracted from current method is projected to witness the fastest growth in the market during the forecast period, in terms of volume."
Some examples of current protein extraction methods or processes include ultrasound-assisted extraction, pulsed electric field, and microwave-assisted extraction. As conventional mechanical and enzymatic methods for protein extraction may affect the integrity of extracted seaweed proteins due to the release of proteases from cytosolic vacuoles. Furthermore, these methods are also laborious and time-consuming. Therefore, improved extraction methods of cell disruption and extraction are required. Pre-treatment with cell-disruption techniques aid the breakdown of the tough seaweed cell wall, increasing the availability of proteins and other high-value components for later protein extraction.
"Europe is projected to grow at the highest CAGR during the forecast period."
Europe is projected to be the fastest-growing market for seaweed protein during the forecast period. In Europe, consumers are more inclined toward healthy foods, and seaweeds are viewed as a healthy superfood that is used in a large number of food products, seasonings, and beverage items, thereby driving the growth of seaweed protein in the region. The usage of seaweeds for the pharmaceutical and nutraceutical industries has recently started developing due to the rising awareness about the nutritional content and advantages associated with seaweed protein-based product consumption. The growing health and environmental impact of consuming meat products are expected to drive the demand for seaweed protein in the region.
The seaweed protein market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, and RoW (Brazil, Chile, South Africa, and other South American, African, and Middle Eastern countries).
Break-up of Primaries
- By Company Type: Tier 1 - 25%, Tier 2 - 35%, and Tier 3 - 40%
- By Designation: C-level - 25%, D-level - 30%, and Manager-level - 45%
- By Region: North America - 17%, Europe - 28%, Asia Pacific - 33%, and RoW – 22%
This report segments the seaweed protein market on the basis of source, extraction process, application, and key regions. In terms of insights, this research report focuses on various levels of analyses?competitive landscape, pricing insights, end-use analysis, and company profiles?which together comprise and discuss the basic views on the emerging & high-growth segments of the seaweed protein market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
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