Strategic Acquisition Like That of The Dutch Weed Burger by LIVEKINDLY Collective to Drive the Global Seaweed Protein Market

Seaweed is a type of algae that is mostly found in water bodies like rivers, seas, and lakes, and is widely used in the extraction of industrial gums and chemicals. Seaweed is also used in nutrition and is considered as an essential element in cosmetics. Besides, it is also used as a fertilizer for living organisms like animals, plants, and has high protein content. It’s widely consumed by people of Asian countries like India, China, Vietnam, and South Korea for its nutrients and minerals including potassium, sodium, zinc, copper, iron, etc.

Forecast Analysis of the Global Market

Attractive health benefits associated with seaweed and the rising strategic alliances among key market players are some factors estimated to drive the growth of the global seaweed protein market during the 2021-2030 analysis timeframe. In addition, the rising popularity of plant-based foods and consumption of natural ingredients is also anticipated to boost the market growth by 2030. Moreover, the growing seaweed protein application in nutrient rich foods is expected to create abundant growth opportunities for the global seaweed protein market during the forecast period. Furthermore, people’s growing focus on leading a healthier lifestyle by consuming seaweed is also predicted to offer market growth opportunities by 2030. However, the presence of heavy metals in seaweed is the major factor to impede the market growth.

Regionally, the seaweed protein market in the Asia-Pacific region is projected to witness better growth opportunities by 2030 due to the increased demand for seaweed protein from the food sector and rising initiatives by seaweed producers to enhance the affordability. Moreover, the increasing use of commercial types of algae in traditional cuisines in India, China, and Vietnam is also projected to uplift the market growth in the Asia-Pacific region by 2030.

According to the report published by Research Dive, the global seaweed protein market is estimated to surpass a revenue of $1,512 million by 2030, growing at a CAGR of 11.6% during the forecast period 2021-2030. Some key market players are Mara Seaweed, Seasol, CP Kelco, Irish Seaweeds, Qingdao Gather Great Ocean Algae Industry Group CO. LTD, ALGAIA, ASL, AtSeaNova, Maine Coast Sea Vegetables, Cargill Incorporated, among others.

Covid-19 Impact on the Market Seaweed Protein Market

The onset of the Covid-19 pandemic has had a negative impact on the global seaweed protein market due to lower consumption rate and interrupted supply chains. Strict lockdowns and quarantine rules imposed by governments across the world led to reduced marine fishing, post-harvesting, and aquaculture activities. This has led to poor demand for fish, both domestically and internationally. These factors are predicted to hamper the market growth post the Covid-19 catastrophic stress.

Key Market Developments

The significant companies operating in the industry are adopting numerous growth strategies & business tactics, such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the seaweed protein market to flourish. For instance,

• In January 2022, Sozye, a UK-based startup, announced its launch of new allergen-free, soya-free plant-based alternatives to fish, soya, and oyster sauces by using certified organic Scottish seaweed. The company uses a sustainable method wherein only the top leaves are collected to ensure regrowth of plant and preservation while offering better alternatives to soya sauces.
   
• In June 2021, LIVEKINDLY Collective, a variety of food brands’ collective, announced the acquisition of The Dutch Weed Burger, an Amsterdam-based food organization, to expand their seaweed food products. The Dutch Weed Burger offers a wide range of meat analogs with seaweed as its main ingredient and help LIVEKINDLY Collective to scale internationally into the UK and the US.
   
• In April 2022, Umaro Foods, a renowned producer of seaweed-based bacon, announced its collaboration with the Shark Tank, an American TV series, to offer its innovative bacon to a greater food service network. Mark Cuban of the Shark Tank announced the investment of $1 million in the brand to use the proprietary red algae protein for creating seaweed-based meats.