Seaweed Protein Market Overview, Share, Growth | Global Forecast Report 2028

According to Precision Business Insights (PBI), the latest report, the seaweed protein market is expected to be valued at USD 640.6 million in 2022. It is poised to grow at a significant CAGR of 14.4% over 2022-2028. The primary driver for expanding the global Seaweed Protein market is the increasing use of plant-based protein in food industries and growing consumer awareness regarding the health benefits of consuming seaweed products.

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Red Seaweed Treatment Segment to Dominate the Seaweed Protein Market:
On the basis of treatment type, red seaweed is expected to have a significant growth rate in the coming next few years. As the high level of proteins in red seaweed and extensive application increases the demand for red seaweed. Also, having a fibrous composition, assist regulate blood circulation and blood flow in the body, control blood sugar, and reducing excessive cholesterol. Furthermore, with their large diversity and composition, red seaweeds have also been used in the food and pharmaceutical industries as a source of novel natural nutrients and bioactive constituents.

Asia Pacific Seaweed Protein Market:
Asia Pacific region dominate the seaweed protein market in past years and is expected to lead the market over the forecasted period owing to extensive applications of seaweed protein in various sectors such as food, nutraceuticals, nutritional supplements, and aquaculture in this region. As per FAO, Japan uses seaweed since the fourth century and China since the sixth century. China and Japan, Republic of Korea, are the largest consumers of seaweed as food, and their requirements support an industry that harvests 6 000 000 tonnes of wet seaweed per year, valued at $5 billion. Furthermore, increasing investment in R&D for inventing and creating some other application areas for seaweed protein such as pharmaceuticals, cosmetics, and animal feed additives are numerous industries that use seaweeds in the region. These factors will undoubtedly be pushing the Asia Pacific seaweed protein market growth.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Seaweed Protein market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In August 2021, the applications team worked with Enil-Besancon Mamirolle to trial alginates in processed cheese. Enil-Besancon Mamirolle provided the team with their model production capacity, allowing the team to conduct these successful experiments.

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The seaweed protein market is segmented based on source, extraction process, application, and geography.
Based on the source, the market is segmented into the following:
• Red Seaweed
• Brown Seaweed
• Green Seaweed

Based on the extraction process, the market is segmented into the following:
• Conventional Method
• Current Method

Based on the application, the market is segmented into the following:
• Food
• Animal Feed and additive
• Personal Care and Cosmetics
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the seaweed protein market report are Algaia (France), Algea (Norway), Qingdao Gather Great Ocean Algae Industry Group Co, Ltd (China), Qingdao Brightmoon Seaweed Co Group Co. Ltd (China), Cargill Incorporated (US), Gelymar SA (Chile), Ceamsa (Spain), BASF (Germany), Irish Seaweed (Ireland).

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This release was published on openPR.