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 market is expanding rapidly, owing primarily to the growing popularity of plant-based goods. Consumption of natural ingredients is also on the rise, and seaweeds are beneficial since they are high in minerals, vitamins, and micronutrients, all of which aid in the promotion of good health. Seaweed farming is much more expensive than land farming, which could stifle expansion in the global seaweed-based meat alternative market. Furthermore, due to the presence of harmful minerals, excessive eating of seaweed might create health concerns. As a result, all of these factors may have a negative influence on market growth.
Fear of a rising number of animal-borne diseases has escalated consumer health worries, resulting in a decline in the consumption of animal products. Consumer awareness of plant-based meat alternatives is fast increasing, with more consumers requesting them due to their purported health benefits. As a result, consumers' eating habits are changing and they are embracing a healthier diet, which is predicted to increase demand for meat replacements.
One of the key factors driving global demand for plant-sourced products is increased consumer awareness of the benefits of a vegan diet. Demand for this industry is being driven by Millennials and Gen Z, who are concerned about health, climate change, and animal welfare. Many manufacturers have formed alliances with brands to provide products in this category. Yum China Holdings Inc, which has exclusive rights to KFC, Pizza Hut, and Taco Bell in mainland China, released the Beyond Burger for a limited period at specific locations in China. The Beyond Burger is a plant-based burger that looks, cooks, and tastes like beef.
Covid Pandemic Insights
During the pandemic, the meat sector was hit with warnings of meat shortages owing to facility closures, resulting in price rises. Traditional meat delivery methods were disrupted as restaurants, schools, and other facilities closed down. Consumers had fewer options as a result of declining output and increased pricing, and plant-based meat alternatives began to gain popularity.
The demand for meat alternatives increased significantly due to an increase in consumer expenditure on healthy food products and increased health consciousness during the pandemic. Furthermore, meat substitute manufacturers saw an increase in demand for plant-based products as there was a limit on the number of meat-based items purchased per consumer. As a result, COVID-19 has had a favorable impact on the meat substitute market.
|Growth Rate||CAGR during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, Meat Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||UMARO, Algaia, Zotter and Stiles|
|Customization scope||Free report customization with purchase|
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. SEAWEED-BASED ALTERNATIVE MEAT MARKET, BY TYPE
6. SEAWEED-BASED ALTERNATIVE MEAT MARKET, BY MEAT TYPE
7. SEAWEED-BASED ALTERNATIVE MEAT MARKET, BY GEOGRAPHY
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.3. Zotter and Stiles
Zotter and Stiles
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