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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Principal Consultant
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.
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 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.
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
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| 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 |
The sales of duckweed protein in Korea are likely to exhibit a CAGR of 6.8% from 2023 to 2033.
Demand for duckweed protein in Korea is likely to surpass US$ 5.1 million by 2033.
Demand for duckweed protein in Korea valued at US$ 2.6 million in 2023.
The dried segment is likely to grab a share of 93.70% in 2023.
The lemna segment to acquire a share of 50.40% through 2033.
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 Used 17. Research Methodology
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Demand and Trends Analysis of Duckweed Protein in Korea
