Seaweeds are ocean-based organisms or plants and belong to the algae family. They are normally found in other water bodies such as lakes, rivers, and seas. They are mostly consumed in various Asian countries such as China, Japan, Korea, and more.
COVID-19 Impact on the Global Seaweed Protein Market
In many areas of Asia, apart from their natural availability in water bodies, seaweeds are also grown and cultivated in farmlands. The pandemic is one of those factors which affected the market immensely due to its falling cost. One variety of seaweed known as Cottonii is used for cooking purposes as it works in the process of thickening a food product or turning it into a gel consistency. This market along with the farmers, vendors, and manufacturers faced heavy losses in the past year which also slowed down the growth of the industry.
Download FREE Sample Report of the Global Seaweed Protein Market @ https://www.researchdive.com/download-sample/8391
But, the rising awareness about the dietary benefits of consuming seaweed has shown to lead to the growth of the market. The fact that it contains not only proteins but carbohydrates, water, minerals and iodine makes it a much sought after food item. This along with various organizations willing to invest in the industry may help in restabilising the market’s growth rate.
Key Developments in the Industry
Many organizations have been working on building and creating new products that are made keeping in mind customers and their demands. Innovative methods are used in order to ensure the highest quality of the products. A renowned French company, Algaia, which specializes in biomarine ingredients, in June 2020, earned a major investment of $2.4 million. They plan to invest this money into producing more plant based products along with a newer variants containing seaweed known as VegAlg.
Check out How COVID-19 impacts the Global Seaweed Protein Market. Click here to Connect with Analyst @ https://www.researchdive.com/connect-to-analyst/8391
Similarly, in April 2021, New Wave Foods, a producer of alternative seafood announced their plan to start distribution of a new plant-based shrimp dish. This dish is made using completely vegan ingredients, mainly seaweed and plant protein and will be supplied to every food service and restaurant in USA. They plan to expand the variants even further in the next two years to include crabs, lobsters, and more seafood.
Forecast Analysis of the Global Seaweed Protein Market
The latest report published by Research Dive states that the global seaweed protein market is set to garner significant revenue of $11,22,255.9 million at a stable CAGR of 13.5% from 2020-2027.
The North American region is predicted to witness a rise in revenue of over $3, 33,831.70 Million at a CAGR of 14.8% from 2020-2027. Consumers are increasingly gravitating towards the vegan style of eating. Since a lot of meat products are not allowed, they need to look for alternative sources of protein and the best among them is seaweed. Apart from protein, it also contains minerals, micronutrients and vitamins. This has added to the growth of the North-American market.
The awareness and need to lead a healthy lifestyle is pushing more people to try such nutrient rich alternatives as seaweed helps in keeping the protein levels high. It is one of the most important nutrients that is required for the human body. This along with various companies coming up with partnerships is a major factor for growth of the seaweed protein market all over the world.
On the contrary, the process of seaweed farming is elaborate and expensive which is one of the restraining factors for the market. Additionally, seaweed need to be consumed keeping in mind that excess amounts can be toxic and also it needs to be cooked properly. These issues can be a restraining factor for the industry.
The utilization of seaweed protein to extract neutraceutical as it contains bioactive compounds along with peptides, polysaccharides, vitamins and more has added to the demand for seaweed.
Key Players
- CP Kelco,
- Cargill
- Qingdao Gather Great Ocean Algae Industry Group Co Ltd
- Mara Seaweed
- Acadian Seaplants
- Irish Seaweed
- Atseanova
- ALGAIA
- Maine Coast Sea Vegetables
- Seasol International Pty Ltd
About Us:
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
Contact us:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
+1 (917) 444-1262 (US)
Toll Free: +1-888-961-4454
E-mail: support@researchdive.com
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
Blog: https://www.researchdive.com/blog
Follow us: https://marketinsightinformation.blogspot.com/
Comments
Post a Comment