Seaweed Protein Market (Covid-19) Outbreak: Size, Share Production & Consumption Analysis With Forecast To 2032
The global seaweed protein market is expected to witness growth at a CAGR of 11.3% in the forecasted period and to be valued more than USD 971.7 Mn by 2032.
The world's population is expected to grow by more than a 1/3 (2.3
billion people) by 2050, requiring a 70% increase in the food supply. Even
though the world's population has doubled in half a century, new agricultural
food production technology and an increase in average per capita income have
resulted in a reduction in world hunger. Food production, on the other hand, is
more challenging than it has ever been on a global scale. Previously used
methods of intensifying agriculture will soon be obsolete due to their high
environmental impact trade-offs, such as destabilization natural ecosystems and
threatening biodiversity, production of greenhouse gases from land
clearing, terrestrial ecosystems, animal livestock production, freshwater,
and nutrient run-off from fertilizer damaging marine.
Protein, in particular, is one of the most important nutrients that will
be scarce in the future. To meet consumer demand and projected global protein
requirements, alternative protein sources and manufacturing methods are
necessary.
Key Takeaways from Market Study
- The seaweed protein market is expected to
expand at CAGR of 11.3% over the forecasted period.
- Among the source, red seaweed is
dominating the segment holding around 52.7% of the revenue and it is expected
to grow with CAGR of 8.9% over the forecasted period.
- Among the extraction method segment, conventional
method is expected to dominate the seaweed protein market holding more
than 43.5% revenue share and it is expected to grow with around 8.6% CAGR
over the forecast period.
- Food & beverage is dominating the
application segment holding around 42.1% in 2022 and it is expected to
grow with CAGR of 6.9% over the
forecasted period.
“The seaweed protein market is expected to grow
at a bolstering rate owing to the future demand for alternate protein most
human applications, such as food, supplements, and cosmetics, choose seaweed
protein-based products since they have no negative side effects.” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers
of global seaweed protein market are majorly focusing on research &
development in order to develop innovative and unique product offering. In
addition to this these key players in the seaweed protein market are also
concentrating on merger, acquisition and joint ventures to expand their
geographical presence and also to increase the existing production capacity.
• 6 May 2021, Schiedam - Last year, The Seaweed
Company began a pilot project off the coast of the Netherlands at the Offshore
Test Site. The goal of the pilot is to put the 'Cultivator's seaweed
infrastructure to the test in the severe conditions of the North Sea. The
Seaweed Company, one of the pilot's partners, is overjoyed to report that the
installation exceeded expectations during the storm in March.
Explore More Valuable Insights
Future
Market Insights, in its new report, offers an impartial analysis of the global seaweed
protein market, presenting historical data (2017-2021) and estimation
statistics for the forecast period of 2022-2032.
The study
offers compelling insights based on Source (Red seaweed, Green seaweed, Brown
seaweed), by Extraction method (Conventional Method, Current Method), by
Application (Food & Beverages, Industrial Application, Animal Feed,
Aquaculture, Cosmetics and Personal Care) across seven major regions of the
world.
Information Source: https://www.futuremarketinsights.com/reports/seaweed-protein-market
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