Seaweed Protein Market : Key Factors behind Market's Rapid Growth

Seaweed protein market was valued at $585 million in 2022, and is projected to reach $1131 million by 2027, growing at a CAGR of 14.1% from 2022 to 2027. The growth of this market is estimated to be driven by the increasing health awareness among consumers. Seaweed protein has observed massive growth due to the increased application of plant based protein in food products like plant based meat and plant based protein supplements.

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The growth of this market is estimated to be driven by the increasing health awareness among consumers. Seaweed proteins are a growing application of plant based products. The food and nutrition industries have evolved to give consumers a more personalized experience to compensate for dietary loss through supplemental nutrition.

The Seaweed protein market consists of a few globally established players such as CP Kelco U.S., Inc. (US), 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), Dupont Nutrition and Biosciences (US), Compo Expert Group (Germany), Beijing Leili Agricultural Co, Ltd (China), Groupe Roullier (France), Acadian Seaplants (Canada). Strategic partnerships were the dominant strategy adopted by the key players, followed by expansions and new product launches. These strategies have helped them to increase their presence in different regions and industrial segments.

Algaia is a bio marine ingredients firm that specializes in the production and distribution of seaweed extracts. Food, cosmetics, dietary supplements, and nutrition are all industries that use these goods. The corporation has a commercial presence in over 50 countries across all continents, either directly or through strategic partners. Another example is the companys recent strategic partnership with Chilean player Gelymar. By extending their product reach, the agreement will benefit both companies. Carageenans, plant biostimulants, alginates, and specialty seaweed extracts are among the companys products. The company also offers lab analytical services such as biomass valorization, biochemical analysis, and bioactivity assessment in addition to seaweed goods. Algaia has developed a strong global network with leading companies, such as Enil-Besancon Mamirolle, Cornelius, Unipex, AIDP, GFI, SMEL, and Evergreen.

CP Kelco US, Inc. is a pioneer in the development of natural ingredient solutions. It offers a number of product lines for use in the food, beverage, and consumer industries. CP Kelcos parent firm is JM. Huber Corporation. The company has activities and systems that are technologically advanced in 22 countries throughout the world. Kelcos primary products include carrageenan, citrus fibre, xanthum gum, diutan gum, fermentation derived cellulose (FDC), gellan gum, pectin, and refined locust bean gum. Bakery, beverage, clinical nutrition, fruit applications, health and personal care, dairy and dairy alternatives, domestic products, paper producing confectioneries and desserts, and other industrial applications are among the industries served by the company. According to the corporation, seaweed is mostly produced in Asia, Canada, Chile, and Africa, with 98 percent of the total volume sold to over 100 countries. The company also has excellent quality standards and is certified with ISO 9001:2008, KOSHER, and Environmental ISO 14001 certifications.

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Europe is projected to achieve the Highest CAGR growth in the Seaweed protein market.

The use of seaweed protein-based products in the pharmaceutical and nutraceutical industries has just increased as people become more aware of the nutritional value and benefits of eating seaweed. The European Commission, CINEA, and a consortium of EurA AG, EABA Systemiq, Technopolis, and s.Pro have developed EU4Algae, which is projected to stimulate demand for seaweed protein in Europe due to the growing health and environmental effect of eating meat products. The European Commission has identified seaweed protein as a major source of alternative protein for a sustainable food system and global food security. This three-year initiative will help Europe establish a regenerative, resilient, equitable, and climate-friendly algae business while also introducing new algae species to the market.

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