Selbyville, Delaware, May 04, 2023 (GLOBE NEWSWIRE) —
The duckweed protein market valuation is predicted to be worth USD 150 million by 2032, as reported in a research study by Global Market Insights Inc.
Growing demand for duckweed protein across the animal feed sector is estimated to complement market growth. Carbon footprint is becoming a major concern for the livestock farming sector, necessitating sustainable alternatives capable of reducing the environmental impact and costs. Duckweed is a highly nutritional alternative packed with fatty acids, amino acids, vitamins, and minerals. Research suggests that duckweed could potentially replace 50% of a cow’s diet, allowing animal farmers to cut down on hefty expenditures associated with high-performance animal feed.
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The rising meat consumption across several economies is imposing significant pressure on the poultry and meat production sectors, fostering demand for superior feed formulations. As per the OECD-FAO Agricultural Outlook, population growth will play a key role in accelerating meat demand with an estimated 15% rise in global meat consumption by 2031.
Duckweed protein market from the Spirodela polyrhiza (great/giant duckweed) segment is anticipated to expand at over 11% CAGR till 2032. Great duckweed or Spirodela polyrhiza is a prominent source of biomass in bioenergy production due to its high biomass yield. Giant duckweed is primarily grown in stagnant freshwater and caters to a wide variety of applications across animal and fish feeds.
The ingredient is gaining massive traction as an alternative natural feed source for aquaculture, human food, and animal husbandry due to its rich nutritional profile. Spirodela polyrhiza is an excellent source of Nitrogen Free Extract, amino acids, and protein. Several studies exploring the scope of giant duckweed as an alternative feed for carnivorous fish species will also complement industry development.
The duckweed protein market from the oil form segment is expected to reach USD 45 million by 2032. Duckweed oil is emerging as a popular product across the animal feed and food sectors on account of its high unsaturated fatty acids content offering consumers omega-3 and omega-6 fatty acids. Furthermore, studies are focusing on the potential of duckweed as a potent source of biofuel. For instance, a study supported by the U.S. Department of Energy, Office of Science in October 2022, demonstrated the ability of genetically engineered duckweed plants to produce oil seven times greater than the per acre production from soybeans.
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North America duckweed protein market will showcase around 12% CAGR from 2023 to 2032. The U.S. and Canada are home to an expanding vegan population impelled by the growing awareness regarding the impact of meat on health as well as the environment. The rising number of vegan food manufacturers in the U.S. will also spur the industry expansion. Additionally, growing consumer interest in a variety of plant-based proteins is set to proliferate duckweed cultivation in the region, thus offering lucrative business prospects for regional industry players.
Major players involved in duckweed protein market include SETA Organic, Aquatic Technologies, Plantible, Parabel, Green Orchid Nursery, GreenCrop, LLC, Landoltia, and WASE. These companies are focusing on new product launches to achieve a competitive lead. For instance, in August 2019, Parabel USA Inc. unveiled neutral-colored protein ingredients as an allergen-free alternative for existing plant proteins such as soy or pea.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Duckweed Protein Market 3600 synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Species trends
2.1.3 Form trends
2.1.4 End-use trends
2.1.5 Regional trends
Chapter 3 Global Duckweed Protein Market Insights
3.1 Industry segmentation
3.2 Industry Ecosystem
3.2.1 Manufacturers
3.2.2 Vendor matrix
3.2.3 Profit margin analysis
3.2.4 Value addition at each stage
3.2.5 COVID-19 impact on industry value chain
3.3 Regulatory landscape
3.3.1 U.S.
3.3.2 Europe
3.3.3 China
3.4 Pricing analysis, by region,2018-2032
3.4.1 North America
3.4.2 Europe
3.4.3 APAC
3.4.4 LATAM
3.4.5 MEA
3.4.6 Cost structure analysis, 2022
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Increasing demand from food Processing industry
3.5.1.2 Rising vegan population
3.5.2 Pitfall and Challenges
3.5.2.1 Limited commercial cultivation practices
3.6 Innovation and sustainability
3.7 Growth potential analysis, 2022
3.8 Porter’s analysis
3.9 PESTEL analysis
3.10 Impact of the COVID-19 on Duckweed market
3.11 Impact of Russia-Ukraine war on Duckweed market
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.