Seaweed Protein (Red, Green, Brown) Market

Global Forecast to 2027

26-Jul-2022 - Ireland

The market for seaweed protein 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 consumer health awareness and rising vegan population across regions are factors that have encouraged people to shift to alternate plant-based proteins such as seaweed protein. Consumers have become increasingly aware and conscious of their dietary habits.

Lifestyle changes, along with a better understanding of fitness and health, have encouraged people to consume natural products. Increasing health awareness has also led consumers to shift to seaweed protein-based products that are specific to their requirements.

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Consumers have become increasingly inclined toward a healthy lifestyle and nutrition-rich natural food. With changing preferences due to increased health awareness, consumers are increasingly seeking seaweed protein and seaweed protein-based products in their daily lifestyles.

The green seaweed by the source is projected to observe the fastest growth in the Seaweed protein market throughout the forecasted period

In recent years, the green seaweed segment has observed significant growth in terms of value sales. Green seaweeds exist in multicellular as well as unicellular form.

They are mainly found in freshwaters as well as in marine habitats and terrestrially on soil, trees, or rocks. Green seaweed is naturally high in multiple types of micronutrients such as calcium, copper, iron, iodine, etc. Sea lettuce, sea palm, and sea grapes are some of the popular edible green algae available in the market.

The protein content for green seaweeds ranges from 9- 26% of its dry weight. The multiple macros and micronutrients present in green algae make it a preferred choice of consumption amongst consumers.

The current method of extraction is estimated to account for the fastest growing in the global Seaweed protein market

The current extraction process is becoming the preferred extraction method due to increased protein output and efficiency in production. It includes modification of plant micronutrients to improve bioavailability, simultaneous extraction, and encapsulation, and quenching of radical sonochemistry to avoid degradation of bioactive peptides.

Ultrasound equipment like ultrasonic bath (indirect sonification) or ultrasonic probe (direct sonification) are used for the current extraction method.

The major advantages of this process are its fast processing time, non-thermal properties, and low solvent consumption, resulting in a higher purity final product with reduced downstream processing required. This method when used with acid and alkaline treatment, increases protein extraction as well as reduces processing time.

The food sub-segment of the by mode of the application segment is projected to attain the fastest market growth in the Seaweed protein market over the forecast period.

The food form is widely consumed and boasts easy availability, affordability, a wide range of dosages, easy packaging, storage, and cost-effectiveness.

Seaweeds can be integrated into food directly as a salad or seasoning. It can also be used for its extract in the form of agar and alginate which are used in the preparation of tomato sauce, ice cream, jelly, lime jelly, marmalade, desserts, drinks, ice cream, jelly, syrups, flavor sauces, fruit juices, bakery products, and milkshakes.

Some companies have come up with innovative ways to integrate seaweed protein into plant-based meat. Umaro a company in the USA uses red seaweed protein in plant-based bacon. The red seaweed provides color taste and texture that replicates bacon.

The global market for seaweed protein is dominated by major players such as CP Kelco U.S., Inc. (US), Algaia (France), Acadian Seaplants (Canada), Algea (Norway), Qingdao Gather Great Ocean Algae Industry Group (China), and Qingdao Brightmoon Seaweed Co Group Co. Ltd. (China).

Premium Insights

Increase in Demand for Vegan Protein Alternatives to Meat and Dairy Expected to Drive the Market
France Projected to Grow at the Highest Rate in the Seaweed Protein Market in 2022 to 2027
Asia-Pacific Dominated the Market in 2021
Food Segment to Dominate the Market, 2022 Vs. 2027
China Estimated Accounted for the Largest Share in 2021

Seaweed Protein Market Dynamics

Drivers

Growth in Consumer Awareness Regarding the Health Benefits of Seaweed Protein-Based Products
Alternate Protein Source
Increase in Applications of Seaweed Protein

Restraints