Demand and Trends Analysis of Duckweed Protein in Korea
Sales Forecast of Duckweed Protein in Korea, by Fresh and Dried Forms, 2023 to 2033
Duckweed Protein Emerges as a Sustainable Superfood in Korea, Paving the Way for a Healthier and Greener Future. Key Players are Focusing their Resources to Commercialize the Product Pan Korea
Strategic Insights into Duckweed Protein Adoption in Korea from 2023 to 2033
Korea's duckweed protein market is anticipated to witness an industry valuation of US$ 2.6 million in 2023. By 2033, the duckweed protein demand in Korea is projected to be worth US$ 5.1 million. The Korea sector is driven by increasing duckweed protein used in animal feed, nutraceuticals, processed foods, and dietary supplements.
Increasing preference for duckweed protein powder is backed by awareness about its digestibility, which holds a score of 1.0, corresponding to animal protein. Since duckweed protein is grown commercially throughout the year, it holds high value for leading manufacturers. For greater penetration in the country, companies delivering duckweed protein in Korea are focusing on relieving pain points of their customers.
Our Analyst projects a 6.8% CAGR between 2023 and 2033, which is higher than the Korea duckweed protein industry's projected CAGR of 6.6% between 2018 and 2022. Sustainable, regenerative, and nutrient-dense duckweed appeal to consumers interested in eating sustainable and healthful foods. Korean manufacturers of duckweed protein now have profitable growth prospects.
Attributes
Details
Industry Size (2023)
US$ 2.6 million
Forecasted Industry Size (2033)
US$ 5.1 million
CAGR Estimation (2023 to 2033)
6.8%
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Dynamics behind Korea's Duckweed Protein Market Surge
In Korea, people are becoming aware of their food choices as the health and wellness movement gains traction. Businesses can capitalize on the trend by emphasizing the nutritional advantages of duckweed protein and promoting it as a health-focused ingredient.
The demand for duckweed protein in Korea can rise substantially in response to favorable government laws and policies of plant-based foods and sustainable agriculture. To take full advantage of opportunities, companies should keep up to date on policies, subsidies, and initiatives from the government that could affect the production and sale of duckweed protein.
Industry penetration requires developing successful marketing strategies and informing consumers about the advantages of duckweed protein. Manufacturers should spend money on marketing initiatives emphasizing duckweed protein's distinctive selling points, solving customer complaints, and fostering consumer confidence in the product.
The demand for alternative protein sources in Korea is rising as people become conscious of environmental issues and the necessity of sustainable practices. Duckweed protein fits in with the trend of sustainable and eco-friendly products. Duckweed protein vendors in Korea can take advantage of the demand by promoting duckweed protein as an environmentally responsible substitute for conventional protein sources.
Restraining Factors for Duckweed Protein in Korea
A significant obstacle is consumers' general lack of knowledge about the advantages and adoption of duckweed protein in Korea. To increase demand, business owners must spend money on marketing and instructional initiatives that bring attention to the benefits of duckweed protein.
Logistically challenging situations could arise from an underdeveloped duckweed protein processing and distribution infrastructure. Business owners in the duckweed protein industry of Korea should make infrastructure upgrades to boost productivity and cut expenses across the supply chain.
The demand for duckweed protein expansion in Korea may be hampered by regulatory obstacles, such as obtaining approvals and adhering to current laws. The duckweed protein providers in Korea should closely monitor and navigate the constantly changing regulatory landscape to ensure their products meet the required standards.
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Comparative View of Adjacent Duckweed Protein in Key Markets
The comparative table shows how duckweed protein changes in Western Europe, Japan, and Korea. Notably, duckweed protein adoption is on the rise in Korea. It implies that duckweed protein is becoming widely recognized and used in the Korea industry.
On the other hand, Japan and Western Europe show different dynamics that need more investigation. The information highlights the subtle differences in local acceptance and adoption of duckweed protein in Korea, offering valuable insights to stakeholders navigating these varied industries.
Understanding the regional trends is essential for making strategic decisions in the rapidly expanding duckweed protein industry as the demand for sustainable protein sources grows.
Industry Analysis of Duckweed Protein in Korea:
Attributes
Industry Analysis of Duckweed Protein in Korea
CAGR between 2023 to 2033
6.8%
Industry Size in 2023
US$ 2.6 million
Key Trends
The sector of duckweed protein in Korea is expanding due to the rising demand for plant-based proteins.
Duckweed protein's high nutritional value is becoming more widely recognized, stimulating industry expansion for duckweed protein in Korea.
Key Challenge
Market expansion of duckweed protein in Korea is hampered by low consumer knowledge of the nutritional advantages.
The duckweed protein market in Japan benefits from government initiatives that promote sustainable agriculture.
Animal feed uses duckweed protein, which propels the industry's expansion in Japan.
Key Challenge
The difficulties associated with large-scale duckweed farming and harvesting are impeding Japan market growth.
Industry Analysis of Duckweed Protein in Western Europe:
Attributes
Industry Analysis of Duckweed Protein in Western Europe
CAGR between 2023 to 2033
3.7%
Industry Size in 2023
US$ 17.1 million
Key Trends
The demand for duckweed protein in Western Europe is experiencing growth due to the increasing adoption of vegetarian and vegan diets.
Duckweed protein suppliers in Western Europe and food companies are developing partnerships and working together.
Key Challenge
The Western Europe market for duckweed protein is hindered by regulatory obstacles and uncertainties surrounding novel food approvals.
Category-wise Insights
The comprehensive industry trend assessment by producers and the increasing demand for Lemna-based duckweed protein are highlighted in this section's comprehensive segmentation analysis of the Korean duckweed protein market. The analysis highlights the emergence of opportunities and developing industry demands in Korea's dynamic duckweed protein landscape, emphasizing the superiority of the dried segment within the form category.
Lemna's Rise to the Top of the Duckweed Protein Sales in Korea
The Lemna segment has emerged as the leader in duckweed protein sales and is experiencing a notable upswing. Numerous factors contribute to Lemna's leadership, such as its easy cultivation, nutritional profile, and general availability.
Growing awareness of the health benefits of using Lemna species, rich in vital minerals and vitamins, low in calories and fat. Increasing consumer awareness about the environmental effects of their food decisions is boosting the popularity of duckweed protein in Korea. These are sustainable in nature as they neither require deforestation nor contribute to GHG emissions.
Segment
Lemna
Industry Share in 2023
50.40%
Lemna's appeal has increased as plant-based and sustainable protein sources gain popularity among consumers. Legume's adaptability to a wide range of uses, productive growth, and harvesting qualities add to its dominance in the duckweed protein market. The lemna segment has the potential to hold the leading position in boosting sales within the growing demand as long as there is a continued need for substitute protein sources.
The Dried Segment Takes the Lead in Duckweed Protein Demand in Korea
The duckweed protein sales in Korea are significantly influenced by a choice between fresh and dried forms, with the dried segment expected to dominate. The dried form segment has an extended lifespan, improving product distribution and storage effectiveness.
Manufacturers drive progress across various industries, such as food sector, to encourage sustainability. For instance, certain new launches in Korea are being used in baking applications. These latest advanced duckweed protein powders are claimed by industry experts to outdo the versatility of traditional eggs by delivering outstanding binding, solubility, and emulsification. It also provides high-level foaming capacity and moisture preservation.
Segment
Dried
Industry Share in 2023
93.70%
Customers who care about the environment may find dried duckweed protein appealing as it satisfies the increasing demand for plant-based and sustainable protein substitutes. The dried segment reflects consumer preferences, leading the duckweed protein industry in terms of nutritional strength, convenience, and sustainability.
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Competitive Landscape
There is fierce competition in the Korea duckweed protein sector, with many companies fighting for industry share. Key duckweed protein vendors in Korea are strategically concentrating on partnerships, innovations, and expansion to obtain a competitive advantage. Concerns about sustainability, the growing demand for plant-based proteins, and technological developments are certain factors shaping industry dynamics.
Established duckweed protein businesses and emerging firms coexist in the competitive landscape, all contending for industry share as consumers' preference for alternative protein sources grows. Research and development expenditures and strategic partnerships are essential for long-term growth and industry leadership as the duckweed protein industry changes.
Players are seen investing in advanced technologies to develop meat alternatives that are better tasting and have improved feel than their conventional plant-based alternatives. With new launches in Korea like duckweed protein-based nutritious snack formations enriched with high dietary fibers and protein, the industry is set to evolve in the upcoming years. Players are also predicted to acknowledge key benefits of consuming duckweed protein, especially for obese and diabetic population, in their promotional campaigns.
Key Advancements Observed in Duckweed Protein in Korea
In June 2023, Plantible Foods introduced Rubi Whisk, an egg replacer composed of duckweed that outperforms poultry eggs. This plant-based alternative is utilized in gluten-free products, pasta, baking goods, and other applications. Plantible Foods, founded in California in 2018, developed technology to extract RuBisCo, a specific protein, from duckweed.
To expand lemna production, the plant with the highest protein yield among all plants, Plantible secured US$ 21.5 million in Series A funding led by Astanor Ventures. This funding round brings Plantible's total to US$ 27 million, transforming the food industry.
Acquiring Natural strengthened Barentz's position as the industry leader. This move, combined with the earlier acquisition of Unipex, enhances Barentz's position with a wide range of natural and functional ingredients, expanding its European nutraceuticals portfolio.
CJ CheilJedang has made significant investments in various alternative protein companies, including Plantible Foods, New Culture, and Aqua Cultured Foods.
Some of the Key Players of Duckweed Protein in Korea
Pontus Water Lentils
Barentz B.V.
Hinoman, Ltd.
Plantible Foods, Inc.
Lempro Inc.
Seta Organics
Parabel
Aquatic Technologies
Plantible
Scope of the Report
Attribute
Details
Estimated Valuation (2023)
US$ 2.6 million
Projected Valuation (2033)
US$ 5.1 million
Anticipated CAGR (2023 to 2033)
6.8%
Historical Analysis of Duckweed Protein in Korea
2018 to 2022
Demand Forecast for Duckweed Protein in Korea
2023 to 2033
Quantitative Units
Revenue in US$ million and CAGR from 2023 to 2033
Report Coverage
Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Key Companies Profiled in the Industry Analysis of Duckweed Protein in Korea
Pontus Water Lentils
Barentz B.V.
Hinoman, Ltd.
Plantible Foods, Inc.
Lempro Inc.
Seta Organics
Parabel USA
Aquatic Technologies
Plantible
Key Segments
By Form:
Fresh
Dried
By Species:
Wolffiella
Spiro Dela
Lemna
By End Use:
Food Processing
Animal and Fish feed
Others
By Province:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
At What CAGR is the Duckweed Protein Ecosystem Growing in Korea?
The sales of duckweed protein in Korea are likely to exhibit a CAGR of 6.8% from 2023 to 2033.
How Big will the Duckweed Protein Market be in Korea?
Demand for duckweed protein in Korea is likely to surpass US$ 5.1 million by 2033.
What is the Current Duckweed Protein Market Valuation in Korea in 2023?
Demand for duckweed protein in Korea valued at US$ 2.6 million in 2023.
Which is the Preferred Form for Duckweed Protein in Korea?
The dried segment is likely to grab a share of 93.70% in 2023.
Which Application Area Contributes Significantly?
The lemna segment to acquire a share of 50.40% through 2033.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Nature
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Nature, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Nature, 2023 to 2033
5.3.1. Organic
5.3.2. Conventional
5.4. Y-o-Y Growth Trend Analysis By Nature, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Nature, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Species
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Species, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Species, 2023 to 2033
6.3.1. Wolffiella
6.3.2. Spirodela
6.3.3. LeMilliona
6.3.4. Landoltia
6.3.5. Wolffia
6.4. Y-o-Y Growth Trend Analysis By Species, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Species, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By End Use Application, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By End Use Application, 2023 to 2033
7.3.1. Food Processing
7.3.1.1. Protein/Dietary Supplements
7.3.1.2. Energy Bars
7.3.1.3. Snacks & Salads
7.3.1.4. Beverages
7.3.1.5. Others
7.3.2. Animal & Fish Feed
7.3.3. Others (applied research, biofuel, etc.)
7.4. Y-o-Y Growth Trend Analysis By End Use Application, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By End Use Application, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033
8.3.1. South Gyeongsang
8.3.2. North Jeolla
8.3.3. South Jeolla
8.3.4. Jeju
8.3.5. Rest of Korea
8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Nature
9.2.2. By Species
9.2.3. By End Use Application
9.3. Market Attractiveness Analysis
9.3.1. By Nature
9.3.2. By Species
9.3.3. By End Use Application
9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Nature
10.2.2. By Species
10.2.3. By End Use Application
10.3. Market Attractiveness Analysis
10.3.1. By Nature
10.3.2. By Species
10.3.3. By End Use Application
10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Nature
11.2.2. By Species
11.2.3. By End Use Application
11.3. Market Attractiveness Analysis
11.3.1. By Nature
11.3.2. By Species
11.3.3. By End Use Application
11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Nature
12.2.2. By Species
12.2.3. By End Use Application
12.3. Market Attractiveness Analysis
12.3.1. By Nature
12.3.2. By Species
12.3.3. By End Use Application
12.4. Key Takeaways
13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Nature
13.2.2. By Species
13.2.3. By End Use Application
13.3. Market Attractiveness Analysis
13.3.1. By Nature
13.3.2. By Species
13.3.3. By End Use Application
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Nature
14.3.3. By Species
14.3.4. By End Use Application
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. CJ CheilJedang
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Plantible Foods
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. Hinoman, Ltd.
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. Barentz B.V.
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. Pontus Water Lentils
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. Parabel Inc.
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. Lempro Inc.
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. Seta Organics
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. Green Orchid Nursery
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. GreenCrop LLC
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
15.1.11. Rubisco Foods
15.1.11.1. Overview
15.1.11.2. Product Portfolio
15.1.11.3. Profitability by Market Segments
15.1.11.4. Sales Footprint
15.1.11.5. Strategy Overview
15.1.11.5.1. Marketing Strategy
15.1.11.5.2. Product Strategy
15.1.11.5.3. Channel Strategy
15.1.12. Floatmeal Co., Ltd.
15.1.12.1. Overview
15.1.12.2. Product Portfolio
15.1.12.3. Profitability by Market Segments
15.1.12.4. Sales Footprint
15.1.12.5. Strategy Overview
15.1.12.5.1. Marketing Strategy
15.1.12.5.2. Product Strategy
15.1.12.5.3. Channel Strategy
16. Assumptions & Acronyms Used17. Research Methodology
