DULSE/PALMARIA MARKET TO REACH VALUATION OF US$ 513.2 BN BY 2031

Dulse/Palmaria Market: Introduction

A recent study published by Transparency Market Research on the dulse/palmaria market includes global Industry analysis and opportunity assessment for 2021-2031. Revenue generated from the dulse/palmaria market in the U.S. was valued at US$ 44.6 Bn in 2021, which is estimated to rise at a CAGR of 8.4%, to reach US$ 99.5 Bn by 2031.

High Protein Content in Dulse to Attract
Manufacturers, Stimulate Market Growth

Proteins derived from red seaweeds such as dulse have higher protein content than conventional sources such as poultry, meat and dairy products, and contains complete essential amino acids (EAA) profiles. The dulse-based products exhibit a huge potential to match the dietary requirements of the increasing population due to its high protein content.

Apart from being a source of protein, presence of various bio-active components in it provides an added health benefit for food manufacturers to include in their offerings. Dulse is added to snacks, salts, soups, sandwiches, salads, pasta, eggs, and beverages for enhancing its functional value. Most seaweed are consumed in food, but its extracts are used in a wide variety of products that includes toothpaste, medicines, cosmetics, and pet food.

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• For instance, rising population is expected to reach 9.8 billion by 2050 and thus, the amount of food must double to meet the needs of the population. About 1 billion of the population have inadequate protein intake, as the conventional source of protein is predicted to be insufficient.

Increased Application of Dulse to Drive Product Demand

Dulse, a type of seaweed-based product is being increasingly consumed as a dietary supplement, owing to its excellent nutritional value and health benefits. It serves as a significant choice for human consumption due to its high protein and vitamin content. Dulse also possesses strong anti-inflammatory and antioxidant properties. Dulse is used as iodine and protein supplement and health food.

Therefore, dulse has gained popularity in the human nutraceuticals industry in various developing and underdeveloped regions such as India and Africa, wherein malnutrition is prevalent. The rise in demand for cyanobacteria due to its contribution in weight reduction; and increase in the number of health clubs and fitness centers are projected to boost the dulse market during the forecast period. Thus, manufacturers operating in seaweed-based products can target the dulse market, for application in different industries.

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• For instance, in 2019’s London Marathon, Maine Coast Sea Vegetables used drink pouches made from seaweed, which resulted in 200,000 fewer plastic bottles being used. This led the company’s focus on entering into a new product line to manufacture using seaweeds.

Expansion of Aquaculture Industry to Drive Development of Dulse-based Products Market

In the aquaculture industry, fish meal is considered to be a high protein ingredient for feed, which contributes significantly to the variable production cost. However, increasing costs and decreasing fishmeal supply threaten the sustainability and growth of the aquaculture industry. Therefore, demand for products that can partially or completely act as a substitute fishmeal with alternative proteins is on the rise.

Dulse or dulse-based products can be used across the world as an alternate protein source, that can used as a fishmeal. In feeding trials with fish, many types of seaweeds have been found, which can be used for increasing growth, physiological activity, feed utilization, stress response, disease resistance, starvation tolerance, and carcass quality. Seaweed farming is also the fastest growing aquaculture sector.

The ability of the seaweeds to breakdown environmental pollutants also makes its development an increased priority for the aquaculture industry. Thus, opportunity for manufacturers to increase penetration of macro-algae products in the growing aquaculture industry, which can be achieved with state-of-the-art production systems at larger production facilities and this would also help in reducing the cost price by 60-80%.

• For instance, according to the National Center for Biotechnology Information and the U.S. National Library of Medicine, aquaculture is recognized as the most sustainable means of seaweed production and accounts for approximately 27.3 million tons (96%) of the global seaweed production per annum.

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Challenges for Dulse/Palmaria Manufacturers

The low commercialization of dulse products is likely to hamper market growth. The key challenges for dulse-based products are that seaweed manufacturers appear to have include high cost of infrastructure, operation, and selection, maintenance of algal strains with high protein contents, dewatering, and commercial scale harvesting. Optimization of manufacturing and commercialization of seaweed products depends on numerous factors such as market and financial affairs.

There is limitation of authentic and reliable data & statistics of the dulse market opportunities, which make it difficult to assess its actual potential. Long-term research is needed to develop systems for the production of sustainable seaweed farming, as sustainability is a key concern, especially for food, feed, and fuel.

The limited or small-scale production of dulse products coupled with its usefulness impeded by the difficulty experienced in its large-scale cultivation is making it commercially infeasible, thus, hampering the sales of dulse-based products.

• For instance, according to the World Bank Group, the growth of seaweed farming is constrained primarily by lack of proper marine spatial plans and appropriate financing. Thus, lack of awareness regarding seaweed products and cultivation is restraining market growth.

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