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Duckweed Protein Market Size
- Report ID: GMI5570
- Published Date: Jun 2024
- Report Format: PDF
Duckweed Protein Market Size
Duckweed Protein Market size was valued at USD 66.3 million in 2023 and is projected to grow at over 8.4% CAGR from 2024 to 2032, propelled by increasing consumer awareness of health and environmental issues coupled with the rising stream of product innovations. Consumers are seeking sustainable and nutritious alternatives to traditional protein sources, prompting the development of innovative products like duckweed protein.
With the growing awareness, more innovative products are entering the market, further driving the product demand. For instance, in November 2023, Wanna Greens by GreenOnyx became the first duckweed plant launched into space aboard SpaceX CRS-29, marking a historic moment for natural, fresh Wolffia vegetables.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Duckweed Protein Market Size in 2023: | USD 66.3 Million |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 8.4% |
| 2024 – 2032 Value Projection: | USD 137.4 Million |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 225 |
| Tables, Charts & Figures: | 314 |
| Segments covered: | Species, Form, End-User |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Advancements in food technology and sustainability initiatives are accelerating the duckweed protein market growth. Innovations in food processing and formulation are enabling the creation of diverse products incorporating duckweed protein for meeting the consumer demand for sustainable and nutritious alternatives.
Additionally, sustainability initiatives across industries are promoting the adoption of eco-friendly protein sources like duckweed, encouraging companies to invest in the research, development, and production of duckweed-based products. For instance, in February 2024, microTERRA introduced Flora, a sustainable protein ingredient extracted from Lemna, commonly known as duckweed, to reduce sugar in food and beverage products, marking a significant advancement in sustainability.
Though the market is thriving, it encounters hurdles, such as regulatory complexities and environmental concerns. However, addressing the regulatory challenges surrounding the approval and labeling of duckweed protein products is fostering transparency and consumer trust, paving the way for market expansion. Moreover, implementing sustainable cultivation practices helps mitigate environmental concerns while demonstrating the strong commitment to eco-friendly production methods.
Frequently Asked Questions (FAQ) :
Duckweed Protein Market Scope
