The factors driving the growth of this market are the increasing health care and self-care awareness among the customers leading to the rising demand for alternate protein sources, hence fueling the growth of the Global Seaweed Protein Market. The growing government initiative to increase seaweed cultivation also helps in the expansion of the market. The transition of customer preferences from animal protein to plant-based protein plays a major role in the increasing demand for seaweed proteins. The advantages provided by red seaweed over other seaweed sources such as regulating blood circulation and blood flow in the body, managing blood sugar levels and lowering excessive cholesterol levels in the body; have significantly increased its demand in the food and pharmaceutical industries. The presence of a variety of biomolecules in seaweeds makes them applicable in various industries like nutraceuticals, cosmetics, medicine, functional food and feeds.
Global demand for seaweed protein has been significantly impacted by the COVID-19 epidemic. The majority of the countries appear to have a bright future for economic growth. Three scenarios can be used to illustrate the impact: Low growth, which predicts a slow economic recovery, supply chain disruption, and weak consumer demand; Medium growth, which predicts a fast economic recovery and moderate consumer demand growth; and High growth, which predicts a swift economic recovery, no supply chain disruption, and strong consumer demand.
The Global Seaweed Protein Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Algaia, Algea, ALGAplus, Arctic Company, Baoji Earay Bio-Tech Co., Ltd, Brightmoon Seaweed Co Group Co. Ltd, CP Kelco U.S.,Inc., Cargill Incorporated, Green Rise Agro Industries, MYCSA Ag, Inc., Ocean rainfore, Qingdao Gather Great Ocean Algae Industry Group Co, Ltd, Qingdao Brightmoon Seaweed Co Group Co. Ltd, Rongcheng Jingyi Ocean Technology Co., Ltd., Seaweed & Co., Shore Seaweed, Sar Agrochemicals & Fertilizers Pvt. Ltd., Thorverk hf., VietDelta Ltd.
SPER Market Research study aims to provide market dynamics, demand and supply with yearly forecast to 2032. This report provides data for growth estimates and forecasts for product type segment – By Source {Red seaweeds (Red seaweed-derived proteins are largely used in salads, snacks, and sushi, Porphyra spp., Palmaria palmata), Brown seaweeds (Rich in aspartic and glutamic amino acids, Laminaria spp., Undaria pinnatifida, Fucus vesiculosus), Green seaweeds (Emerging use of green seaweeds in the processed food industry, Ulva spp., Enteromorpha spp.)}, By Extraction Process {Conventional method (Physical processes, Enzymatic hydrolysis, Chemical extraction), Current method (Ultrasound-assisted extraction, Pulsed electric field, Microwave-assisted extraction)}, By Application {Food (Increase in application of seaweed protein as a functional ingredient in processed food), Animal feed and additives (Protein extracted from red and green seaweeds is a source of feed for ruminants), Personal care and cosmetics (Seaweed protein is used as a source for producing skin care products), Other applications}, By Form { Dry form (Powder, Flakes, Other forms), Liquid form}.
This report also provides the data for key regional segments of North America, Europe, Asia-Pacific and Rest of the World.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.