The duckweed protein market in Western Europe is set for steady growth, with projected sales revenue of US$ 17.1 million in 2023. By 2033, the industry is expected to expand to US$ 24.7 million, with a compound annual growth rate (CAGR) of 3.7%.
Key Trends Driving Growth of Duckweed Protein in Western Europe
Between 2018 and 2022, the duckweed protein market experienced steady growth of 3.2% annually, leading to a total market value of US$ 16.5 million by the end of 2022. Duckweed’s rich concentration of protein, vitamins, and minerals has established it as a complete food source in Europe, spurring greater demand for plant-based proteins. Technological advancements in food processing have enabled the inclusion of duckweed protein in a range of food products, further driving its popularity.
Emerging Opportunities in the Duckweed Protein Industry:
- Vegan Movement & Sustainability: The growing vegan movement and environmental concerns regarding livestock farming have increased demand for plant-based protein sources. Duckweed, with its 40% protein content and potential to provide vitamin B12, offers a sustainable alternative to traditional proteins.
- Versatility in Food Applications: Duckweed protein is increasingly used in plant-based meat and dairy alternatives, particularly in the restaurant and hotel sectors, opening up new growth opportunities.
- Farmers’ Initiatives: Several Western European countries are promoting duckweed cultivation among farmers, which will further boost production and supply in the coming years.
Country-wise Market Outlook
United Kingdom: A Prominent Market for Duckweed Protein
The United Kingdom is poised for notable growth, advancing at a CAGR of 5.2% through 2033. With a significant portion of the population embracing plant-based diets, duckweed protein, rich in nutrients, is gaining traction among health-conscious consumers.
Italy: Expanding Production for Regional Demand
In Italy, the duckweed protein industry is projected to grow at 4% annually. Government backing and new policies supporting sustainable protein sources are attracting more producers and sellers to enter the duckweed market.
Netherlands: Emphasis on Sustainability
The Netherlands is a key player, with duckweed production expanding at 7.9% CAGR over the next decade. The country’s focus on the sustainability of water bodies has contributed to the growth of duckweed farming, with minimal environmental impact.
Competitive Landscape
The duckweed protein market in Western Europe is still relatively nascent, with moderate competition as R&D and technological advancements continue to shape the industry. As more food companies pivot towards alternative proteins, the duckweed protein market is set to gain wider acceptance.
Recent Developments
- Sustainable Planet (UK) – September 2021: The UK-based company developed a method for cultivating duckweed in desert climates, using significantly less water compared to soy protein isolates. This technology can enable duckweed farming in non-arable terrains and saltwater environments.
- Rubisco Foods – April 2023: Rubisco Foods’ water lentil-based protein concentrate was certified by the European Food Safety Authority (EFSA) as safe for human consumption, clearing the way for its commercialization across Europe.
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
Browse full Report: https://www.futuremarketinsights.com/reports/demand-and-trends-analysis-of-duckweed-protein-in-western-europe
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