Global Seaweed Based Alternative Meat Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Lectin, Phycobiliprotein), By Meat Type (Pork, Poultry, Chicken, Others), And By Geography - Forecasts From 2022 To 2027

The global seaweed-based alternative meat market is projected to grow at a CAGR of 16.39% during the forecast period, to reach a market size of US$1,089.116 million in 2027 from US$376.410 million in 2020.

Seaweed is a type of algae or marine plant that grows in bodies of water like oceans, rivers, and seas. Seaweed is a sustainable protein source because it doesn't require fertilizers or fresh water, absorbs a lot of CO2, and produces a lot of it. The worldwide seaweed protein market is also expanding rapidly as a result of the increased use of seaweed protein and extracts. Because of the presence of bioactive substances such as colors, vitamins, phlorotannins, polysaccharides, peptides, minerals, and nutritional effects, seaweed is being used in a variety of sectors.

The growing global population and increasing resilience of plant-based meat coupled with health benefits and cultivation efficiency of seaweed are projected to increase the demand for the seaweed-based alternative meat market. As per the Department of Product Design, Norwegian University of Science and Technology, the global population will be 9.8 billion by 2030. Also, the demand for fresh meat along with the scarcity of farmland is expected to shift to alternative protein cultivation which will not strain the land available. This is significantly projected to increase the production of alternative non-land cultivated protein sources including seaweed. Additionally, as per the source, over 500 species of seaweed are available globally to be used for food. Also, health benefits associated with seaweed consumption coupled with its efficient production and investments and research for the same is projected to push the demand and thereby market growth of the seaweed-based alternative meat market.

Growing health awareness and benefits.

The seaweed-based alternative meat market is projected to grow on a significant scale owing to a couple of factors including a range of health benefits offered by seaweed in all foods derived from it including meat. According to the December 2021 White Paper of Wageningen University and Research, the maximum protein content in seaweed can be 47% of dry matter which is available in red seaweeds. Also, as per the source, the average protein content in alternatives like soybean is only 40%. Further, as per the source, seaweed contains high-quality proteins like amino acids, and other bioactive sources like taurine, lipids, carotenoids, and pigments. Additionally, as per the White Paper, an area roughly 4 times bigger than Portugal could produce enough protein from the sea to feed the entire population of the earth. Health benefits coupled with efficient aquatic cultivation of seaweed and investments in populous countries like India for expanding seaweed production are some of the major drivers in pushing the growth and demand for the seaweed-based alternative meat market on a global scale.

Key developments

• Starbucks started working with Beyond Meat as part of its entry into the Chinese mainland, with the new menu of Beyond Beef Pesto Pasta, Classic Lasagna, and Spicy & Sour Wrap, and the product was launched in April 2020. A meatless chicken product by Beyond Meat was introduced by KFC in 2022, along with Beyond Meat’s McDonald's McPlant burger.
• Algaia, a French startup that creates algae-based goods for the nutraceutical, personal care, and farm feed industries, raised €4 million in follow-on funding. The funds will also be used to increase the company's new production line for specialty algae extracts in Brittany, France. With the addition of useful liquid products for the agriculture sector, the new production unit will broaden Algaia's product offering beyond conventional seaweed extracts.
• UMARO (previously Trophic) is a start-up that aims to provide sustainable, meaty, and nourishing plant-based protein from the oceans. The company announced the completion of a US$3 million seed financing. The funding, led by AgFunder, will help the company launch its first product, an umami-rich, very realistic plant-based bacon made with its proprietary red protein.

Regional Insight

By geography, the seaweed-based alternative meat market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North America is expected to hold a significant share. Europe is expected to witness growth. The rise of meat replacements is mostly attributable to customers turning away from meat-based products in the region, either as a result of embracing veganism or as a means of reducing the frequency of meat intake without compromising on nutritional value. According to the Vegan Society Organization, nearly 70% of plant-based customers in Europe consume meat substitutes several times a week, and more vegan products are being introduced throughout the region.

COVID-19 Impact on the Seaweed Based Alternative Meat Market

In the initial months of the pandemic, the overall plant-based protein market including algae and seaweed suffered due to a sudden lockdown which led to supply chain disruption. However, the demand for alternative meat products soon started to surge as the pandemic changed the dietary preferences of consumers. Consumers turned more health-conscious amid the pandemic, and although the consumption of plant-based protein had been gaining traction before the pandemic as well, the pandemic accelerated the trend and the demand for healthy foods surged.

Global Seaweed Based Alternative Meat Market Scope:

Market Segments

• By Type
  • Lectin
  • Phycobiliprotein

• By Meat Type
  • Pork
  • Poultry
  • Chicken
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Others
  • The Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others