Seaweed Protein Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global seaweed protein market provides qualitative and quantitative analysis for the period from 2021-2030. The global seaweed protein market was valued at USD 472.79 million in 2022 and is expected to reach USD 1,554.56 million in 2030, with a CAGR of 14.15% during the forecast period 2023-2030. The study on seaweed protein market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

The seaweed protein market refers to the industry that involves the production and sale of protein extracted from various types of seaweed. Seaweed protein has gained popularity as a sustainable and nutritious alternative to traditional plant and animal-based proteins. One major driving factor for the growth of the seaweed protein market is the increasing demand for plant-based and sustainable protein sources. As awareness of environmental sustainability and health-conscious consumer preferences rise, seaweed protein presents an attractive solution due to its minimal environmental impact and nutritional benefits. This demand is further fueled by the growing trend of plant-based diets and the desire for protein sources that align with ethical and eco-friendly principles, propelling the expansion of the seaweed protein market.

The food segment is the fastest-growing segment in the seaweed protein market, driven by the increasing demand for plant-based foods and the growing awareness of the health benefits of seaweed protein. Seaweed protein is a high-quality protein source that is also rich in essential amino acids, vitamins, and minerals. It is a versatile ingredient that can be used in a variety of food applications, including snacks, beverages, and meat alternatives. Furthermore, protein plays a crucial role in the diets of athletes as it facilitates the repair and rebuilding of muscle tissue that undergoes stress during physical activity. For instance, according to the American College of Sports Medicine, individuals engaged in regular exercise should aim for a protein intake ranging from 1.2 to 1.7 grams per kilogram of body weight per day, or 0.5 to 0.8 grams per pound of body weight. Microalgae and seaweed stand out as excellent sources of protein, providing all essential amino acids in varying proportions. This makes seaweed a valuable resource for athletes, particularly those following a vegan diet, where alternatives such as eggs or dairy whey protein may not be viable. Consequently, the food sector is experiencing significant growth in the seaweed protein market due to its potential benefits for individuals with high protein requirements, including athletes.

The Asia Pacific region dominates the global seaweed protein market, claiming the largest share due to its extensive seaweed cultivation and utilization in various industries. Countries such as China, Japan, and South Korea are pivotal contributors, leveraging their coastal resources for seaweed production. The region's rich tradition of incorporating seaweed into culinary practices, coupled with a growing awareness of the nutritional benefits of seaweed proteins, fuels market growth. Additionally, the thriving food and beverage industry in Asia Pacific integrates seaweed proteins into diverse products, ranging from snacks to functional foods, further propelling market expansion. With the increasing demand for plant-based and sustainable protein sources, the Asia Pacific seaweed protein market is poised for sustained growth, driven by the region's cultural ties to seaweed consumption and its economic emphasis on seaweed-related industries.

Report Findings

1) Drivers

• Growing consumer demand for sustainable and plant-based protein sources is propelling the seaweed protein market.
• The recognition of seaweed protein's nutritional value, including its rich content of essential amino acids and minerals, is driving its market growth.

2) Restraints

• Limited awareness and high production costs are hindering the widespread adoption of seaweed protein in the market.

3) Opportunities

• Increasing focus on research and development presents a significant opportunity for the expansion of the seaweed protein market.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include
1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segment Covered

The global seaweed protein market is segmented on the basis of source, and application.

The Global Seaweed Protein Market by Source

• Red Seaweed
• Green Seaweed
• Brown Seaweed

The Global Seaweed Protein Market by Application

• Food
• Animal Feed
• Cosmetics and Personal Care
• Others

Company Profiles

The companies covered in the report include

• CP Kelco U.S., Inc.
• Cargill, Incorporated
• Qingdao Gather Great Ocean Algae Industry Group CO., LTD
• AtSeaNova
• ALGAIA
• Gelymar
• ASL
• Qingdao Seawin Biotech Group Co., Ltd.
• Seasol
• Compo Expert GmBH

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the seaweed protein market.
2. Complete coverage of all the segments in the seaweed protein market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global seaweed protein market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.