Duckweed Protein Market Size By Species (Lemna minor, Wolffia globosa, Spirodela polyrhiza), By Form (Powder, Oil, Paste), By End-Use (Food Processing, Animal & Fish feed, Others) & Global Forecast, 2023 – 2032

Industry Drivers

Duckweed Protein Market size crossed USD 70 million in 2022 and is projected to exhibit an 11% CAGR from 2023 to 2032.
 

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The growing vegan population is anticipated to propel the demand for plant-based protein, proliferating the market expansion. Duckweed is among the very few plant-based sources of complete protein, vitamin B12, iron, and an array of other nutrients for vegans and vegetarians. Extensive research is underway to determine the potential of duckweed as a future superfood. It is packed with protein seven times that of soy, rich in omega-3 fatty acids, and is popularly known as eggs of water in some parts of the world. Additionally, duckweed protein has emerged as a key ingredient in animal feed due to its high nutritional profile. Moreover, since it is an aquatic plant, duckweed production does not rely on the availability of valuable farmland.

Duckweed is currently only produced on a small scale in a well-regulated sustainable environment, which may impede the duckweed protein market growth. However, duckweed production could escalate due to advantages such as higher biomass productivity as compared to a terrestrial plant, without the need for land or freshwater. Furthermore, it has higher photosynthetic efficiencies, unlike land-based biomass production, thus enabling carbon capture capabilities.
 

Rise in fish farming to propel demand for protein sourced from Lemna minor species

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Duckweed protein market value from Lemna minor (common duckweed) species segment is estimated to depict over 11.5% CAGR through 2032, due to its antipruritic, diuretic, astringent, alterative, antiscorbutic, soporific, and febrifuge properties. It has a myriad of medicinal applications such as treating edema, colds, difficulty in urination, and measles.
 

Common duckweed is also used topically to treat skin diseases and as a wash for ophthalmia. Lemna minor is gaining significant momentum in the field of aquaculture as an affordable source of plant protein for inclusion in fish diets. With the growing demand for fish feed is expected to fuel the demand for alternative protein sources such as common duckweed.
 

Vegan population growth to boost duckweed protein powder consumption

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The powder duckweed protein market size is set to be worth USD 140 million by 2032, attributed to the increasing consumption of plant-based protein supplements. The growing community of health-conscious consumers and an increasing inclination toward holistic health has spurred the demand for vegan protein. In addition to dietary supplements and protein powders, plant-based proteins are extensively added to animal feed to enhance overall performance and output. For instance, beef producers use plant protein as an extender, whereas the demand is experiencing a notable rise across pork, aquaculture, and poultry production.
 

Use of duckweed protein in Asian cuisine to expedite industry growth across APAC

Asia Pacific duckweed protein market size will reach USD 103 million by 2032. APAC is home to countries with a massive demand for duckweed. China, for instance, is one of the biggest consumers and producers of duckweed globally, owing to its significance as a traditional medicine, and food.
 

Recently, APAC countries have witnessed an upsurge in the number of people preferring a vegan diet. Duckweed is widely used as an ingredient in Asian cuisine, such as the Vietnamese dish “Bánh bèo”, a type of steamed rice cake, which may amplify product consumption. Furthermore, the presence of a robust animal feed sector in countries such as China is likely to create lucrative demand for duckweed protein products in the Asia Pacific.
 

Hefty investments to drive the competitive landscape of the industry

Some of the key companies in the duckweed protein market include SETA Organic, Aquatic Technologies, Plantible, Parabel, Green Orchid Nursery, GreenCrop, LLC, Landoltia, and WASE Aquaculture. These companies are focusing on product innovation with the help of hefty investments to scale up business gains.
 

Recent Developments:

•            September 2021 - Plantible Foods Inc. received USD 21.5 million in Series A funding led by Astanor Ventures to support its vertically integrated agricultural platform responsible for the production of Rubi Protein from lemna, also known as duckweed or water lentils.
 

•            December 2022 - Foundation for Food & Agriculture Research (FFAR) awarded a Seedling Solutions grant worth USD 750,000 to Cold Spring Harbor Laboratory to increase the nutritional value and production of Lemnaceae plants via improved controlled environment agriculture technology.
 

This duckweed protein market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Species

•  Lemna minor (Common Duckweed)
• Spirodela polyrhiza (Great Duckweed)
• Wolffia globosa
• Landoltia punctata

Market, By Form

• Powder
• Oil
• Paste

Market, By End-use

• Food Processing
• Animal & Fish Feed
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Malaysia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • South Africa
  • Saudi Arabia