Seaweed Protein Market Size To Reach $1,397.7 Million by 2030, says P&S Intelligence

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Jun 15, 2022, 07:55 ET

NEW YORK, June 15, 2022 /PRNewswire/ -- In 2021, the worldwide seaweed protein market was worth around $513.7 million, which is set to touch $1,397.7 million by 2030, growing at an 11.8% CAGR from 2021 to 2030, according to the latest market research study published by P&S Intelligence. A growing trend is protein extraction from eatable seaweeds for a variety of health purposes. Alternative protein sources are preferred since, unlike cow ranching, they do not take up additional land or cause greenhouse gas emissions while being cultivated.

Highest Revenue Generator Is Protein Extracted from Red Seaweeds

In 2021, proteins produced from red seaweeds accounted for an over 70% share in the seaweed protein market. Red seaweeds account for over half of all the seaweed farming practiced globally. Nori, a red seaweed with a protein level of up to 47%, has the highest measured protein content. Humans use red seaweed mostly as a binder in food items and as a bacterial substrate in labs.

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Key Findings of Seaweed Protein Market Report

The various non-food uses of seaweeds, such as nutraceutical, pharmaceutical, animal feed, biofertilizers/bio-stimulants, cosmetics, bio-packaging, carbon capture or sequestration, biofuels, and textile fibers, are projected to drive the market growth in the future.
Because of their health, nutritional, and socioeconomic benefits, seaweed proteins are becoming a popular alternative protein source throughout the world.
In the year 2021, the food sector accounted for over 80% of the total income from the sale of seaweed proteins. Product consumption in the food sector continues to be driven by the increasing demand for seaweed snacks and growing popularity of Japanese cuisine.
Conventional methods of extraction held a 55% share of the seaweed protein market in the past. When compared to other approaches, seaweed extracts made using the conventional alkaline process give higher yields.
Seaweed production in China is the world's highest. China's eight farmed seaweed species can provide protein equivalent to 3 million tons of rice, 1.5 million tons of pork, 11 million tons of spinach, and 15 million tons of potatoes in a year.

Regional Analysis

The utilization of hydrocolloids and seaweeds in APAC accounts for almost 60% of the seaweed protein market share. China has surpassed the U.S. as the leading importer of non-edible and edible seaweed for processing. Similarly, behind China, the Philippines is the world's second-largest supplier of processed and semi-processed carrageenan. Carrageenan exports from the Philippines have surged by more than 40% in the last 10 years.

Browse detailed report on Global Seaweed Protein Market Analysis and Forecast Report 2022-2030

The most-significant seaweed crop farmed in Chile is Gracilaria chilensis, which accounts for 100% of the overall biomass produced by aquaculture. In Chile, seaweed farming has increased by over 400% in the last 10 years. Chile's second-most-exported commodity is dehydrated seaweed products, with more than two-thirds going to China and the remainder to Denmark, Canada, France, Norway, and Japan.

Seaweed Protein Market Segmentation Analysis

By Group

Red
Brown
Green

By Extraction Method

Conventional
Advanced

By Application

Food
Animal feed
Cosmetic

By Region

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Spain

APAC

China
India
Japan
South Korea
Philippines

Brazil
Chile
Saudi Arabia

Browse More Reports Published by P&S

Global Plant-Based Protein Market Growth Forecast Report

Global Dietary Supplements Market Growth Forecast Report

Global Meat Substitutes Market Growth Forecast Report

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence