Seaweed Protein Market: Current Analysis and Forecast (2024-2032)
Emphasis on By Vehicle Type (Heavy Truck, Medium Truck and Light Truck); By Range (Below 400 km, Above 400 km), By Application (Municipal, Logistical), and Regions (North America (The US, Canada, Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of the Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World)
Global Seaweed Protein Market Size & Forecast
The global Seaweed Protein Market was valued at USD 539.23 million in 2023 and is expected to grow at a strong CAGR of around 11.8% during the forecast period (2024-2032) owing to rising demand for sustainable, vegetarian, and vegan protein alternatives.
Seaweed Protein Market Analysis
The global seaweed protein market is experiencing steady growth due to the rising popularity of nutritious and environmentally friendly plant protein. Seaweed protein that can be obtained from red, brown, or green seaweed produces necessary amino acids, vitamins, and minerals. Consumers are now increasingly embracing plant protein due to its added benefits on health, environment, and animal rights making seaweed protein unique due to its efficiency in addressing environmental concerns rarely found in animal proteins. Drivers of growth are based on the expanding trend toward using clean-label and sustainability-friendly ingredients in food industries, cosmetics, and pharmaceuticals, advancement in extraction methodologies, and increased awareness regarding the nutritional values of seaweed.
Global Seaweed Protein Market Trends
This section discusses the key market trends that are influencing the various segments of the global seaweed protein market, as found by our team of research experts.
Conventional Method Segment Transforming Industry
The conventional method category is the largest contributor to the seaweed protein industry. Due to its effective and commonly used method of protein extraction including the aqueous and solvent methods. These methods are inexpensive, fast, and can yield high protein production with great protein quality thus suitable for large-scale productions. They are therefore easy to incorporate into already existing manufacturing environments and hence can simplify operations and costs of entry. Although innovative methods of production for seaweed protein have been initiated, the capability offered by conventional technologies in terms of supply and sustainability due to easy scalability provides the necessary boost to the market.
North America is expected to grow at a significant rate during the forecast period.
North American seaweed protein market is experiencing rapid growth owing to heightened consumer awareness regarding healthy and environmentally friendly food proteins. With the increasing awareness of the environmental and health impact of seaweed, more people are inclined to accept protein derived from seaweed in the food and beverage industry. The market is additionally backed by the trends of vegan/vegetarian trends, clean label/s, and natural products in food and beverages. Companies pursue seaweed to be used in the food, nutraceuticals, and cosmetic industries due to its high nutritional properties such as amino acids, vitamins, and minerals. Further, recent advancements in the extraction technique and proper collaboration with the strategic partner address the production issue and make North America the potential market for the future.
Global Seaweed Protein Market Overview
The global seaweed protein market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players in the market are CP Kelco U.S., Inc.; Gelymar; Ceamsa; BASF; DuPont; Beijing Leili Agricultural Co., Ltd; Cargill, Incorporated; ALGAIA; Ebb & Flow Seaweed; Acadian SeaPlus
Global Seaweed Protein Market Report Coverage
Report Attribute | Details |
Base year | 2023 |
Forecast period | 2024-2032 |
Growth momentum | Accelerate at a CAGR of 11.8% |
Market size 2023 | USD 539.23 million |
Regional analysis | North America, Europe, APAC, Rest of the World |
Major contributing region | North America is expected to dominate the market during the forecasted period. |
Key countries covered | U.S., Canada, Germany, U.K., Spain, Italy, France, China, Japan, and India |
Companies profiled | CP Kelco U.S., Inc.; Gelymar; Ceamsa; BASF; DuPont; Beijing Leili Agricultural Co., Ltd; Cargill, Incorporated; ALGAIA; Ebb & Flow Seaweed; Acadian SeaPlus |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Source Type; By Extraction Process; By Application; By Region/Country |
Reasons to buy this report:
The study includes market sizing and forecasting analysis confirmed by authenticated key industry experts.
The report briefly reviews overall industry performance at one glance.
The report covers an in-depth analysis of prominent industry peers, primarily focusing on key business financials, type portfolios, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
Customization Options:
The global seaweed protein market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Global Seaweed Protein Market Analysis (2024-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global seaweed protein market were the three major steps undertaken to create and analyze the adoption of the global seaweed protein in major regions. Exhaustive secondary research was conducted to collect the historical market figures and estimate the current market size. Secondly, to confirm these insights, numerous findings and assumptions were considered. Moreover, exhaustive primary interviews were conducted with industry experts across the value chain of the global Seaweed Protein market. For the assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. The detailed method is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the global Seaweed Protein market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the global seaweed protein market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as source type, extraction process, application, and region. Further country-level analysis was conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After studying the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the global seaweed protein market. Further, we conducted factor analysis using dependent and independent variables such as source type, extraction process, application, and global Seaweed Protein market regions. A thorough analysis of demand and supply-side scenarios was conducted considering top partnerships, mergers and acquisitions, business expansion, and product launches in the global Seaweed Protein market.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Seaweed Protein market, and market shares of the segments. All the required percentage shares split, and market breakdowns were decided using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to several factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research method adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the global Seaweed Protein market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global Seaweed Protein market in terms of the types offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were combined with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Seaweed Protein market. Data was split into several segments and sub-segments after studying various parameters and trends in the global Seaweed Protein market's source type, extraction process, application, and regions.
The Main Objective of the Global Seaweed Protein Market Study
The current & future market trends of the global Seaweed Protein market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the market's overall attractiveness at a regional level, providing a platform for the industrial participant to exploit the untapped market to receive help from a first-mover advantage. Other quantitative goals of the studies include:
Analyze the current forecast and market size of the global Seaweed Protein market in terms of value (USD). Also, analyze the current forecast and market size of different segments and sub-segments.
Segments in the study include areas of source type, extraction process, application, and regions.
Define and analyze the regulatory framework for the industry.
Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
Analyze the current and forecast market size of the global Seaweed Protein market for the major regions.
Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
Company profiles of the global seaweed protein market and the growth strategies the players adopt to sustain the fast-growing market.
Deep dive regional level analysis of the industry.
Frequently Asked Questions FAQs
Q1: What is the global Seaweed Protein market’s current market size and growth potential?
The global seaweed protein market was valued at USD 539.23 million in 2023 and is expected to grow at a CAGR of 11.8% during the forecast period (2024-2032).
Q2: What are the driving factors for the growth of the global seaweed protein market?
Increased consumption of foods with added health benefits, including protein-rich seaweed products.
Q3: Which segment has the largest global seaweed protein market share by source type category?
The red seaweed products category has the largest share of the global seaweed protein market by source type segment.
Q4: What are the emerging technologies and trends in the global seaweed protein market?
Adoption in cosmetics, pharmaceuticals, and biofuel alongside food and beverages.
Q5: Which regions dominate the global seaweed Protein market?
North America is expected to dominate the market during the forecast period.
Related Reports
Customers who bought this item also bought
Experiential Retail Market: Current Analysis and Forecast (2024-2032)
Emphasis on Type of Experience (In-Store Technologies (AR, VR, AI), Multi-Sensory Experiences (Scent, Sound, Visual), Pop-Ups & Immersive Installations, Live Events & Demonstrations, and Others); Retail Format (Department Stores, Specialty Stores, Pop-Up Stores, Flagship Stores, and Others); Industry (Apparel and Fashion, Beauty and Personal Care, Consumer Electronics, Luxury Goods, Food and Beverage, Home Decor, and Others); and Region/Country
November 7, 2024
