Duckweed Market Introduction:
Duckweed is a species of plant with small round leaves floating on the surface of the water. It has a high growth in nutrient-rich water and is commonly present in garden ponds.
Similar to other species of plant, hot weather is favorable for duckweed and it is so much dense that it appears like garden lawns as it doubles itself in every two or three days in summer. As per its name, ducks do feed on duckweed. Since duckweed is a plant based platform and it does not support the growth of bacteria, viruses or prions, so it provides a high degree of safety from product contamination relative to the animal based platform. Duckweed is also edible by humans and other animal species such as chickens and pigs.
Duckweed Market Drivers and Trends:
One of the biggest driver for Duckweed market is its use in animal feed industry, aquaculture, as well as emerging food product for humans. It is a high protein food with protein percentage ranges from 25%-45%, which is considered better than that from Soybean meal with 36% protein content. Under suitable conditions it grows more than double in 36 hours making it ideal for quick reproduction to cater to potential demand.
Duckweed grows on the surface of water covering the entire area which prevents sunlight and oxygen supply on one hand, and simultaneously saves excess water from evaporation. Duckweed also acts as a cost effective renewable energy since it’s a bio fuel and so is very useful for industries. Some of the key properties include food product, animal and aquatic feed, waste water treatment, fertilizers, medicinal properties, mosquito repellent, removal of heavy metals from water among others. Duckweed tends to become an alternative to industrial corns and other similar food items, as it is used as a food for ruminants. Duckweed meal also substitutes soybean meal, which is used as a diet for Indian carps, channel catfish, and grass carp. Some genetic modifications are done on duckweed and it can then be used for synthesizing insulin and other compounds.
Duckweed Market Segmentation:
The duckweed market is segmented on the basis of form, end use, application, and product type.
On the basis of form, the duckweed market is segmented into powder, oil, and paste. On the basis of end use, the duckweed market is segmented into the household, HoReCa, Food and beverages, Aquaculture industry, the pharmaceutical industry, and other industries. On the basis of application, the duckweed market is segmented into food, animal and aquatic feed, dietary/health supplement, biofertilizer, biofuel, water treatment, etc. On the basis of product type, the duckweed market is segmented into little duckweed (Lemna minor), Thick duckweed (Lemna Gibbs), Cross duckweed (Lemna Priscila) and Great duckweed (Lemna polyuria). Each of these types possesses different biological features which further decide the usage of the type.
Duckweed Market Regional Outlook:
The regional segment for the market of duckweed is divided into seven different regions: Western Europe, North America, Eastern Europe, Latin America, APEJ, Middle East & Africa and Japan. Duckweed is native to most of the regions of Africa, Asia, North America and Europe, and so its usage in these regions is on the peak. There is heavy usage of duckweed in Asia Pacific, it has been mainly used for animal feeding and human consumption. In developed regions, duckweed is utilized for wastewater treatment, as it is a cheaper technique than traditional. Countries such as the US are pursuing their scientific researches to determine if duckweed can be used as a source of economic, clean renewable energy and thus trying to lift duckweed market.
Duckweed Market Key Players:
Some of the key player in the Duckweed market includes Parabel, Green Orchid Nursery & Garden Center, Australlian Aquatic Solutions, etc.
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