Seaweed Protein Market Size, By Source (Red Seaweed, Green Seaweed, Brown Seaweed), By Extraction Process (Conventional, Advance), By Application (Food, Animal Feed & Additives, Personal Care & Cosmetics, Pharmaceutical & nutraceuticals, Others), Industry

Seaweed Protein Market Size, By Source (Red Seaweed, Green Seaweed, Brown Seaweed), By Extraction Process (Conventional, Advance), By Application (Food, Animal Feed & Additives, Personal Care & Cosmetics, Pharmaceutical & nutraceuticals, Others), Industry Analysis Report, Regional Outlook, End-user Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030

The global seaweed protein market is expected to record substantial growth from 2022 to 2030. The rising trend of plant-based protein products and growth in the demand for natural ingredients has elevated product adoption in the food and pharmaceutical sector. Seaweed is emerging as one of the leading alternative protein sources with an excellent amino acid profile.

New investments in research and development will help improve the production of seaweed protein in the coming years. In September 2022, researchers from Israel Oceanographic and Limnological Research Institute and Tel Aviv University developed a technology that increases the protein levels, growth rate, healthy carbohydrates, and minerals in seaweed tissues.

The seaweed protein market is classified into source, extraction process, application and region.

Based on the source, the market is categorized into red seaweed, green seaweed, and brown seaweed. The red seaweed segment recorded a market share of over 40% in 2021. The protein content of red seaweed is high compared to other seaweed alternatives. Due to this factor, plant-based meat companies are exploring the use of red seaweed in new vegan meat products. In March 2022, Umaro Foods, a company that makes plant-based bacon using red seaweed, announced that it has raised $3 million in its latest funding round which will be used to support the launch of its first highly realistic, umami-rich plant-based bacon made with its trademarked red protein, Umaro.

In terms of the extraction process, the overall seaweed protein market is segregated into conventional and advance. Of these, the advance extraction process segment is predicted to reach USD 250 million market valuation by 2030. The advent of new extraction methods such as pulsed electric field, ultrasound-assisted extraction, and microwave-assisted method will help seaweed protein manufacturers to attain high extraction capacity.

With respect to application, the seaweed protein market is bifurcated into animal feed & additives, food, pharmaceutical & nutraceuticals, personal care & cosmetics, and others. The animal feed & additives segment is projected to record over 3.5% market share by 2030. Seaweed protein is used in animal feed and additives owing to its ability to boost livestock production and health. The ingredient contains higher protein content which helps provide the required energy to livestock.

The Latin America seaweed protein market value exceeded USD 25 million in 2021. The region is observing robust expansion in the healthcare sector, especially across countries like Brazil, and a steady consumer shift to plant-based meat products. The introduction of new start-up firms specializing in the production of vegan meat alternatives may drive the acceptance of red seaweed protein across the region.