The global duckweed protein market is forecast to reach a market valuation of USD 87.7 million in 2023, and further register a growth rate of 8.9% CAGR over the forecast period from 2023 to 2033. Overall duckweed protein sales are likely to be valued at USD 205.8 million by the end of 2033
Health is a key motivator, encouraging people to switch to a plant-based diet. Consumers are willing to switch meat or dairy a few times a week for a broader variety of plant foods if a manufacturer offers a varied diet comprising a wide variety of fruits, vegetables, legumes, and pulses that has higher nutrition than meat.
Hence, the demand for duckweed protein is expected to increase over the forecast period. An increasing number of consumers want merchants and manufacturers to take the lead in expanding their product offerings and becoming more customer-focused. This initiative has been noticed, particularly in wealthy countries. The overall number ofnew product launches in the duckweed protein market.
Labeling has become a significant component of this transition process, with producers promoting and labelling their products to make them appear more desirable and appealing to consumers.
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Competitive Landscape
There are numerous players in the fiercely competitive duckweed protein space. Due to the market’s extreme fragmentation, various businesses are introducing new products and establishing business acquisitions or strategic partnerships to increase their market share.
Few of the leading duckweed protein manufacturers include Seta Organics, Pontus Water Lentils, Plantible Foods, Inc., Lempro Inc., Barentz B.V., Hinoman, Ltd., Parabel USA Inc., & Others.
Recent Developments:
- In October 2022, Viachem, Ltd, a specialty distributor of life science ingredients and specialty chemicals was acquired by Barentz International, a global life science ingredients distributor.
- Recently, Plantible Foods closed its Series A round with US$ 21.5 million. The company also announced that it will soon be launching a new duckweed-based protein to meet growing end user demand.
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Who is winning?
Plant-based protein products are expected to see an increase in demand, especially from the fitness industry, according to Future Market Insights. Hence, key players are likely to enhance their manufacturing capacity and capabilities by embracing cutting-edge technologies.
Some of the leading companies offering duckweed protein are Parabel USA Inc., Pontus Water Lentils, Barentz B.V., Hinoman, Ltd, Plantible Foods, Inc. Lempro Inc., Seta Organics and others.
Get Valuable Insights into Duckweed Protein Market
FMI, in its new offering, provides an unbiased analysis of the duckweed protein market presenting historical demand data (2017-2021) and forecast statistics for the period from (2023-2033). The study discloses compelling insights on the demand for duckweed protein based on form (fresh and dried), based on species (wolffiella, spirodela, lemna, landoltia& wolffia), based on end use application (food processing, animal & fish feed and others (applied research, biofuel, etc) food processing further includes (protein/dieatary supplements, energy bars, snacks & salads, beverages, and others) across seven major regions.
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