The seaweed protein market will grow at a compound annual growth rate (CAGR) of 14.1% to reach USD 1131 million by 2027, according to a report published by MarketsandMarkets™. The name of the report is Seaweed Protein Market by Source (Red Seaweed, Green Seaweed & Brown Seaweed), Extraction Process (Conventional Method & Current Method), Mode of Application (Food, Animal Feed & Additives, Personal Care & Cosmetics) & Region – Global Forecast to 2027.
Moreover, the report says that in 2022 the market is estimated at USD 585 million due to the increasing health awareness among consumers. Thereby, MarketsandMarkets™ states the food and nutrition industries have evolved to give consumers a more personalized experience to compensate for dietary loss through supplemental nutrition. Natural food additives have a good impact on consumers' health, which has increased the demand for protein in food products.
In addition, seaweed proteins are a growing application of plant-based products. Firstly, we can find green seaweeds in marine habitats and on soil, trees, or rocks. Further, the enzymatic hydrolysis segment dominated the market in terms of conventional methods of seaweed protein extraction. The report confirms that customers prefer conventional methods that allow minimal processing.
Finally, the European Commission, CINEA, and a consortium of EurA AG, EABA Systemiq, Technopolis, and s.Pro have developed EU4Algae. This project aims to stimulate demand for seaweed protein in Europe. This three-year initiative looks for a regenerative, resilient, equitable, and climate-friendly algae business. While also introducing new algae species to the market.
Along with this, we informed in April that The Seaweed Company was expanding its seaweed farms to the European market.
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