The Kelp Protein Market is poised for significant growth, with a projected value-based CAGR of 8.4% from 2023 to 2033. Estimated to be worth US$ 21.4 million in 2023, it is expected to soar to US$ 47.79 million by 2033. The top three countries have already contributed US$ 18.9 million to this thriving market. The increasing adoption of plant-based proteins and the health benefits of kelp are fueling this expansion.
Kelp protein contains minerals like iodine, magnesium, and folate, as well as carbs, protein, and fat. It can be found in many Japanese cuisines, including miso, soup, and udon. It is also required for anaemia prevention, and its amino acid composition is comparable to that of other conventional proteins.
Kelp protein is utilised in a variety of cosmetics and personal care products because it is healthy to the skin and hair. Consumers prefer natural-ingredient cosmetic products because they are healthier and safer than chemical-based ones.
It is found in nutritional supplements that contain vital elements such as minerals, vitamins, and amino acids that are beneficial to one’s health. The rising emphasis on preventative healthcare can be ascribed to the expansion of the dietary supplement business. Consumers all over the world are adopting healthier lifestyles at an alarming rate. As a result, the global kelp protein market is predicted to grow steadily.
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Key Takeaways from the Kelp Protein Report:
· By 2033, the market for kelp protein is projected to be worth US$ 47.79 million.
· Over the projection period, the demand for kelp protein is anticipated to grow at a rate of 8.4% CAGR.
· By 2033, the powder market is projected to be worth US$ 8.6 million, depending on the form type.
· The dietary supplement market is anticipated to grow at a 5.5% CAGR by end-use application during the forecast period.
· By 2033, the global market is expected to be dominated by the United States, with a value share of 31.7%.
· By 2033, it is anticipated that the United States kelp protein market would be worth US$ 13.2 million.
· During the forecast period, the value CAGR for the Japan market is predicted to be 5.5%.
“One of the major drivers of the kelp protein market is increasing consumer demand for plant-based protein alternatives, particularly in the food and beverage industry. Kelp protein is also gaining popularity in the animal feed industry due to its high protein content and sustainability credentials. Manufacturers would find growth opportunities by focusing on various Applications to meet niche preferences.” – says a lead analyst at Future Market Insights (FMI)
Who is Winning?
Qingdao Gather Great Ocean Algae Industry Group Co., Ltd., Qingdao Seawin Biotech Group Co., Ltd, Aquaminerals B.V., Thermo Fisher Scientific Inc., Kimica Corporation, CP Kelco, Gelymar S.A., Qingdao Bright Moon Seaweed Group Co., Ltd., Marinova Pty Ltd., COMFORT ZONE – DAVINES S.p.A., Kelpak Cargill, Incorporated, Algaia S.A., Acadian Seaplants Limited.
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
· In 2021, Parabel USA, a producer of plant-based proteins, launched its new kelp protein ingredient, LENTEIN™ Kelp. The ingredient is made from whole kelp and is marketed as a sustainable and nutritious alternative to traditional protein sources.
· In 2020, Ocean Harvest Technology launched its new kelp protein concentrate, OHT-KPC. The concentrate is made from sustainably harvested kelp and is marketed as a high-quality protein source for use in animal feed.
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Kelp Protein Market by Category
By Form:
- Liquid
- Powder
By End Use:
- Dietary supplements
- Food & beverages
- Animal feed
- Cosmetics & personal care
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global Kelp protein market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the kelp protein market based on Form (Powder, Liquid), and End Use applications (Dietary supplements, Food & beverages, Animal feed, Cosmetics & personal care, Others) across various regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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