The duckweed protein industry in Western Europe is witnessing steady growth, with an expected CAGR of 3.7% from 2023 to 2033. The market size is projected to increase from US$ 17.1 million in 2023 to US$ 24.7 million by 2033. This growth is driven by factors such as the rising trend of the vegan movement, increasing concern for GHG emissions from livestock farming, and the recognition of duckweed protein as a complete food source.
The demand for duckweed protein in Western Europe is fueled by:
- Rising Vegan Movement: With the increasing popularity of plant-based diets, there is a growing demand for alternative protein sources. Duckweed protein, with its high concentration of protein, vitamins, and minerals, is emerging as a sustainable substitute for animal-based protein sources.
- Growing Concern for GHG Emissions: As concerns about environmental sustainability grow, there is a shift towards plant-based protein sources to reduce the environmental footprint of food production. Duckweed protein offers a sustainable alternative to traditional protein sources, driving its demand in Western Europe.
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Key factors driving the growth of the duckweed protein industry in Western Europe include:
- Rising Popularity of Plant-Based Proteins: With the increasing awareness of the environmental impact of animal agriculture, consumers are turning towards plant-based protein sources. Duckweed protein, with its high protein content and nutritional value, is gaining traction as a sustainable alternative to animal-based proteins.
- Government Initiatives: Many Western European countries have undertaken initiatives to promote the cultivation of duckweed as a promising source of protein. These initiatives include education programs for farmers and policy incentives to encourage sustainable protein sources, driving the growth of the duckweed protein industry in the region.
Key Takeaway:
- Investment Opportunity: With a projected CAGR of 3.7% and a valuation of US$ 24.7 million by 2033, the duckweed protein market in Western Europe presents an attractive investment opportunity for investors seeking growth in the plant-based protein industry.
- Market Trends: Changing consumer preferences towards plant-based diets, increasing concern for environmental sustainability, and government initiatives to promote sustainable protein sources are key trends shaping the duckweed protein industry in Western Europe. Investors can capitalize on these trends by investing in companies that are innovating and expanding their presence in this dynamic market.
- Regional Insights: Countries like the United Kingdom, Italy, and the Netherlands are witnessing significant growth in the duckweed protein industry. Investors can explore opportunities in these markets by investing in companies that are strategically positioned to meet the growing demand for duckweed protein products.
Competitive Landscape
The competition among duckweed protein suppliers in Western Europe is relatively moderate as the industry is relatively new, and research and development work are ongoing. Many food & beverage companies in the region that tediously follow food trends are turning their attention to several substitute proteins, including duckweed, and are vying for their mainstream acceptance.
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Recent Developments Observed in Duckweed Protein in Western Europe
In September 2021, the United Kingdom-based food production company Sustainable Planet unveiled its newly developed technology to cultivate duckweed plants in desert climates. According to the organization, this new technique uses up to 20 times less water than that needed for protein isolates like soy, enabling duckweed farming in salty water and on non-arable terrains.
In April 2023, Rubisco Foods achieved a significant milestone after the European Food Safety Authority (EFSA) certified that the protein concentrate made from water lentils or duckweed is safe for human consumption. Additionally, the food safety of the protein concentrate derived from duckweed by Rubisco Foods has now been formally validated for commercialization in European countries.
Some of the Key Players Offering Duckweed Protein in Western Europe
- Algaia (Germany)
- Bioglanis (Germany)
- Coraqua (France)
- Entocycle (France)
- Evoreal (France)
- Greenbelt Nutrients (Germany)
- Innate Vitality (United Kingdom)
- Laboratoire Aquatique (France)
- LemnaPro (Germany)
- Microalgae Solutions (Wales)
- Novus Agro (Belgium)
- Rise with Water (Germany)
- Skotti Green (Scotland)
- Solar Foods (Finland)
- Whole Foods (United Kingdom)
Key Segments Covered in Western Europe Duckweed Protein Industry Survey
By Forms:
- Fresh
- Dried
By Species:
- Wolffiella
- Spiro Dela
- Lemna
By End Use:
- Food processing
- Animal and Fish feed
- Others
By Country:
- Germany
- Italy
- France
- Spain
- United Kingdom
- BENELUX
- Rest of Western Europe
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