According to Future Market Insights, the overall sales of duckweed protein are expected to reach US$ 71.0 Mn in 2022, exhibiting growth at 8.8% CAGR by the end of 2032.
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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Key Takeaways from the Duckweed Protein Market Study:
The global duckweed protein market is projected to surpass US$ 165.6 Mn, registering compound annual growth rate (CAGR) of 8.8% from 2022 to 2032.
The U.S. is estimated to account for more than 77.9% in the North America market in 2021 owing to the increased consumption of plant based protein.
China is estimated to account for nearly 54.2% of the East Asia market share in 2021, driven by increased use of duckweed protein in beverages.
Germany is expected to dominate the Europe duckweed protein market, holding a market share of 22.5% in 2021
“With growing consumption of plant-based protein and rising vegan trend, the demand for high protein food such as duckweed is accelerating across the globe.” said a lead analyst at FMI.
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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 (2022-2032). 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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The report covers exhaustive analysis on:
How much is the duckweed protein market current worth?
At what CAGR is the market expected to grow?
What are the key trends boosting duckweed protein sales?
What is the market share of the leading players operating in the global duckweed protein market?
Which are the major countries driving the demand for duckweed protein?
What is the demand outlook of duckweed protein market in Japan?
At what rate will the U.S. duckweed protein market grow?
How is the plant-based industry transitioning from a niche sector to a mainstream industry? Get the answers in Future Market Insights plant-based market blog!