Seaweed Protein Market Size, Share, Growth & Industry Analysis, By Source (Red, Brown, Green), By Extraction Method (Conventional, Current), By Application (Food & Beverages, Animal Feed & Additives, Cosmetics & Personal Care, Others), and Regional Analysis, 2024-2031

Market Definition

The market focuses on the production, processing, and commercialization of protein-rich seaweed-based ingredients. Seaweed protein refers to the protein extracted from various types of seaweed. It is a plant-based, sustainable source of protein that contains essential amino acids, making it a complete protein.

It is widely used in food, beverages, pharmaceuticals and animal feed due to its high nutritional value, functional properties, and eco-friendly cultivation.

Seaweed Protein Market Overview

Global seaweed protein market size was valued at USD 604.2 million in 2023, which is estimated to be valued at USD 680.8 million in 2024 and reach USD 1634.1 million by 2031, growing at a CAGR of 13.32% from 2024 to 2031.

The increasing demand for plant-based proteins is a key growth driver for the market. As more consumers shift toward vegan and vegetarian diets, the need for sustainable, plant-based protein sources like seaweed is growing.

Major companies operating in the seaweed protein industry are ASL, Cargill, Incorporated, The Seaweed Company, ClimaCrew Pvt Ltd, AQUAGRI PROCESSING PRIVATE LIMITED, Algaia, Atlantic Sea Farms, Wild Irish Seaweeds Ltd, DuPont de Nemours, Inc, Cornish Seaweed, ASL, Nordic SeaFarm, GreenWave Organization Corp, OCEAN RAINFOREST, and Sea6Energy.

The market is growing rapidly within the plant-based protein industry. Seaweed is increasingly being adopted as a sustainable protein source due to its high nutritional value.

The market includes various seaweed species offering varying amino acids, vitamins, and minerals. Additionally, the rising demand for nutritious and environmentally sustainable protein options is driving market expansion.

• In April 2024, GreenCoLab showcases the potential of seaweed protein in the food and beverage industry with innovative products like algae-based caviar, burgers, and beer. These developments highlight the growing role of seaweed protein as a sustainable and nutritious alternative, addressing the increasing demand for eco-friendly, plant-based food solutions.

Key Highlights:

1. The seaweed protein industry size was recorded at USD 604.2 million in 2023.
2. The market is projected to grow at a CAGR of 13.32% from 2024 to 2031.
3. North America held a market share of 33.78% in 2023, with a valuation of USD 204.1 million.
4. The red segment garnered USD 232.3 million in revenue in 2023.
5. The current segment is expected to reach USD 932.3 million by 2031.
6. The cosmetics & personal care segment is anticipated to witness the fastest CAGR of 13.56% during the forecast period
7. Asia Pacific is anticipated to grow at a CAGR of 14.31% during the forecast period.

Market Driver

Increasing Demand for Plant-Based Proteins

The growing adoption of vegan and vegetarian diets is driving the demand for plant-based protein alternatives. Seaweed protein offers a rich source of essential amino acids with minimal environmental impact, making it a sustainable substitute for animal-based proteins. Its eco-friendly and nutrient-dense profile is fueling its use in the food, beverage, and supplement industries, contributing to the market growth.

• In July 2024, Northeastern University students, launched Phytabar, a chocolate nutrition bar infused with seaweed. Phytabar contains omega-3 fatty acids and plant-based protein to offer a sustainable, nutritious alternative for health-conscious consumers.

Market Challenge

Seasonality

Seasonality is a significant challenge for the seaweed protein market, as seaweed growth is influenced by seasonal changes, resulting in fluctuating supply and availability. This unpredictability leads to supply shortages and price hikes, affecting production and distribution.

To address this, key players can invest in innovative farming techniques, such as indoor or controlled-environment systems, to reduce reliance on seasonal variations. Additionally expanding seaweed farming across various regions and adopting diverse cultivation methods can stabilize production and maintain a steady supply.

Market Trend

Technological Advancements

Advancements in seaweed farming and processing are shaping the global market. Innovations in seeding, harvesting, and processing methods, are making large-scale cultivation more cost-effective and efficient. These developments are reducing operational costs, improving yield, and enabling the mass production of seaweed protein.

As a result, the industry is becoming more commercially viable, driving investment and expanding the potential applications of seaweed protein across various sectors like food and bioplastics.

• In May 2023, Oceanfarmr and Coast 4C partnered to develop mobile technologies to improve seaweed farming efficiency in Southeast Asia. Their collaboration focuses on enhancing farming operations, sustainability, and performance, enabling cost-effective large-scale seaweed cultivation in this region.

Seaweed Protein Market Report Snapshot

Market Segmentation:

• By Source (Red, Brown, Green): The red segment earned USD 232.3 million in 2023 due to its high protein content and increasing demand for plant-based alternatives in various industries such as food, cosmetics, and bioplastics.
• By Extraction Method (Conventional, Current): The current segment held 57.10% of the market in 2023, due to its ability to provide more efficient and environmentally sustainable extraction methods, supporting the growing demand for seaweed protein across multiple applications.
• By Application (Food & Beverages, Animal Feed & Additives, Cosmetics & Personal Care, Others): The cosmetics & personal care segment is projected to have a CAGR of 13.56% during the forecast period, driven by the rising popularity of seaweed-based ingredients in skincare products for their moisturizing and anti-aging properties.

Seaweed Protein Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

North America seaweed protein market share stood around 33.78% in 2023 in the global market, with a valuation of USD 204.1 million. North America holds a significant share in the market due to the growing demand for plant-based proteins across industries such as food, cosmetics, and bioplastics.

The region's well-established infrastructure, high consumer awareness and increasing adoption of vegan and vegetarian diets is driving market growth. Additionally, strong support from research institutions and investments in innovative seaweed farming technologies further fuel North America's dominance in this sector.

• In January 2025, the U.S. Department of Energy launched a USD 25 million program to scale up deep-water seaweed farming for sustainable energy and industrial products. This initiative is expected to boost seaweed protein production, supporting the growing demand for plant-based food and bio-based materials.

Asia Pacific is poised for significant growth at a robust CAGR of 14.31% over the forecast period. Asia Pacific is the fastest-growing region in the seaweed protein industry, fueled by a strong tradition of seaweed consumption, rapid advancements in aquaculture, and rising demand for plant-based proteins.

Countries like China, Japan, and South Korea are scaling up production through technological innovations and increased investments in sustainable farming. Additionally, growing health awareness and the expanding use of seaweed in food and nutraceuticals further accelerate market growth.

• In March 2024, SeafoodSource highlighted significant seaweed innovations, directly impacting the market. Sea6 Energy's mechanized seaweed farm in Indonesia aims to boost sustainable production, while Simply Blue Group’s North Sea Farm 1 Project integrates seaweed farming with offshore wind, increasing seaweed protein supply for various industries.

Regulatory Frameworks

• In the United States, the Food and Drug Administration (FDA) regulates the safety and quality of seaweed-derived food products, including seaweed protein, ensuring compliance with food safety standards. The FDA also provides scientific guidelines for labeling, nutrient content, and permissible additives in seaweed-based products.
• In India, the Ministry of Fisheries, Animal Husbandry, and Dairying regulates the import and cultivation of seaweed to support industry growth while ensuring environmental sustainability and biosecurity. These guidelines promote the expansion of the seaweed protein sector by facilitating safe and sustainable farming practices.

Competitive Landscape:

The growing demand for sustainable food sources has led to significant advancements in alternative protein research. Investment and collaboration among academic institutions, industries, and policymakers are boosting innovations in plant-based, microbial, and other alternative proteins.

These efforts aim to create scalable, nutritious, and affordable solutions, addressing environmental challenges, improving food security, and supporting the transition to sustainable diets.

List of Key Companies in Seaweed Protein Market:

• ASL
• Cargill, Incorporated.
• The Seaweed Company
• ClimaCrew Pvt Ltd
• AQUAGRI PROCESSING PRIVATE LIMITED
• Algaia
• Atlantic Sea Farms
• Wild Irish Seaweeds Ltd,
• DuPont de Nemours, Inc
• Cornish Seaweed.
• ASL
• Nordic SeaFarm
• GreenWave Organization Corp
• OCEAN RAINFOREST
• Sea6Energy

Recent Developments (Certification/Sustainability)

• In May 2024, Zanea Seaweed Co. achieved B Corp certification for its socially and environmentally responsible seaweed sourcing. The recognition strengthens the company’s sustainable supply chain and aligns with the growing industry demand for responsibly sourced seaweed.