PUBLISHER: Allied Market Research | PRODUCT CODE: 1140282
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140282
The global seaweed protein market is projected to garner $1,512 million by 2030, growing from $550.4 million in 2021, at a healthy CAGR of 11.6% during the forecast period.
Seaweed protein contains the amino acids glycine, glutamic, arginine, proline, alanine, and aspartic. Essential Amino Acids (EAAs) make up more than half of all amino acids in algae, and their protein composition is similar to that of egg protein. Food, human meals, cosmetics, fertilizers, industrial gums, and chemicals are all made using seaweed. These products can be used to create long- and short-chain molecules for medical and industrial purposes.
Owing to increasing popularity of plant-based foods, the global seaweed protein industry is quickly developing. Furthermore, people are consuming more natural food, and seaweeds are helpful because they are rich in minerals, vitamins, and micronutrients, all of which contribute to excellent health. As a result of all of these factors, the global seaweed protein market is developing. Consumers have made substantial dietary modifications as a result of the rising emphasis on holistic health and immunity. Minerals, vitamins, immunity-boosting meals, organic products, supplements, and other nutritional supplements are all gaining popularity. Though the COVID-19 epidemic has brought attention to the importance of immunity, it is generally understood that having a healthy immune system helps to lower the likelihood and severity of diseases and infections. Seaweed protein-based food additives are in great demand in convenience foods and health drinks due to rising customer demand for alternative protein sources.
The seaweed extraction process involves physical procedures such as water treatment and potter homogenization, as well as osmotic stress and high shear force. Proteins can be extracted from a variety of seaweeds similar to palmaria palmata, porphyra, sargassum vulgare, and ulva fasciata. Among all other traditional ways of extracting seaweed protein, enzymatic hydrolysis has dominated the seaweed market.
Consumer preferences are changing from animal proteins to plant-based proteins, owing to the demand for plant protein products is increasing. Rising customers' preferences for plant-based supplements are anticipated to drive revenue growth of the global seaweed protein market. Seaweeds are rich in macronutrients such as proteins and lipids, as well as micronutrients such as vitamins and minerals, dietary fiber, and minor elements such as polyphenols.
Farmers are ignoring the process of extracting seaweed from plants which is a major barrier to the market for seaweed protein. The ecosystem of sea and coast may be negatively impacted due to seaweed collection. Wild seaweeds are high in arsenic and mercury contents that are harmful if consumed. Consuming a rotted seaweed product can result in vomiting, diarrhea, and others. The market expansion for seaweed protein may be hampered due to these issues.
During the post COVID-19 pandemic, the global market for seaweed protein is expected to expand slowly. Furthermore, as China is one of the main producers and suppliers of seaweed, they were unable to deliver their products owing to industrial shutdowns, travel bans, and border restrictions. As a result of the supply chain bottleneck, the total seaweed protein market has been impacted, and demand for seaweed protein has decreased as a result. Moreover, various investigations and research projects are underway to uncover the potential of seaweed in the fight against COVID-19. According to a study published in 2020, seaweed extract may be useful in neutralizing the effects of COVID-19, which is caused by the virus SARS-CoV-2. These factors are expected to create lucrative investment opportunities in the market during the forecast period. During the projected period, these factors are expected to generate profitable investment opportunities in the market. On February 2020, Cargill disclosed its first seaweed powder offering with the WavePur ADG, which is recognized as a traditional food ingredient. Seaweed powder offering from an organoleptic perspective powder include marine ingredients as they were developed to accentuate smooth and creamy textures in dairy products.
Some of the leading seaweed protein market major players CP Kelco, Cargill, Incorporated, Qingdao Gather Great Ocean Algae Industry Group CO. LTD, Mara Seaweed, ASL, Irish Seaweeds, AtSeaNova, ALGAIA, Seasol, and Maine Coast Sea Vegetables.
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