Dulse/Palmaria Market to Garner 513.2 Mn Globally By 2028 at 8.4% CAGR, Says The TMR
Dulse/Palmaria
Market: Introduction
A
recent study published by Transparency Market Research on the dulse/palmaria market includes global Industry analysis
and opportunity assessment for 2021-2031. Revenue generated from the
dulse/palmaria market in the U.S. was valued at US$ 44.6 Mn in 2021, which is
estimated to rise at a CAGR of 8.4%,
to reach US$ 99.5 Mn
by 2031.
High Protein Content in Dulse to Attract
Manufacturers, Stimulate Market Growth
Proteins derived from red seaweeds such as dulse have higher protein
content than conventional sources such as poultry, meat and dairy products, and
contains complete essential amino acids (EAA) profiles. The dulse-based
products exhibit a huge potential to match the dietary requirements of the
increasing population due to its high protein content.
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Apart from being a source of protein, presence of various bio-active
components in it provides an added health benefit for food manufacturers to
include in their offerings. Dulse is added to snacks, salts, soups,
sandwiches, salads, pasta, eggs, and beverages for enhancing its functional
value. Most seaweed are consumed in food, but its extracts are used in a wide
variety of products that includes toothpaste, medicines, cosmetics, and pet
food.
For
instance, rising population is expected to reach 9.8 billion by 2050 and thus,
the amount of food must double to meet the needs of the population. About 1
billion of the population have inadequate protein intake, as the conventional
source of protein is predicted to be insufficient.
Increased Application of Dulse to Drive Product
Demand
Dulse, a type of seaweed-based product is being increasingly consumed as
a dietary supplement, owing to its excellent nutritional value and health
benefits. It serves as a significant choice for human consumption due to its
high protein and vitamin content. Dulse also possesses strong anti-inflammatory
and antioxidant properties. Dulse is used as iodine and protein supplement and
health food.
Therefore, dulse has gained popularity in the human nutraceuticals
industry in various developing and underdeveloped regions such as India and
Africa, wherein malnutrition is prevalent. The rise in demand for cyanobacteria
due to its contribution in weight reduction; and increase in the number of
health clubs and fitness centers are projected to boost the dulse market during
the forecast period. Thus, manufacturers operating in seaweed-based products
can target the dulse market, for application in different industries.
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For
instance, in 2019’s London Marathon, Maine Coast Sea Vegetables used drink
pouches made from seaweed, which resulted in 200,000 fewer plastic bottles
being used. This led the company’s focus on entering into a new product line to
manufacture using seaweeds.
Expansion of Aquaculture Industry to Drive
Development of Dulse-based Products Market
In the aquaculture industry, fish meal is considered to be a high
protein ingredient for feed, which contributes significantly to the variable
production cost. However, increasing costs and decreasing fishmeal supply
threaten the sustainability and growth of the aquaculture industry. Therefore,
demand for products that can partially or completely act as a substitute
fishmeal with alternative proteins is on the rise.
Dulse or dulse-based products can be used across the world as an
alternate protein source, that can used as a fishmeal. In feeding trials with
fish, many types of seaweeds have been found, which can be used for increasing
growth, physiological activity, feed utilization, stress response, disease
resistance, starvation tolerance, and carcass quality. Seaweed farming is also
the fastest growing aquaculture sector.
The ability of the seaweeds to breakdown environmental pollutants also
makes its development an increased priority for the aquaculture industry. Thus,
opportunity for manufacturers to increase penetration of macro-algae products
in the growing aquaculture industry, which can be achieved with
state-of-the-art production systems at larger production facilities and this
would also help in reducing the cost price by 60-80%.
For
instance, according to the National Center for Biotechnology Information and
the U.S. National Library of Medicine, aquaculture is recognized as the most
sustainable means of seaweed production and accounts for approximately 27.3
million tons (96%) of the global seaweed production per annum.
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Challenges for Dulse/Palmaria Manufacturers
The low commercialization of dulse products is likely to hamper market
growth. The key challenges for dulse-based products are that seaweed
manufacturers appear to have include high cost of infrastructure, operation,
and selection, maintenance of algal strains with high protein contents,
dewatering, and commercial scale harvesting. Optimization of manufacturing and
commercialization of seaweed products depends on numerous factors such as
market and financial affairs.
There is limitation of authentic and reliable data & statistics of
the dulse market opportunities, which make it difficult to assess its actual
potential. Long-term research is needed to develop systems for the production
of sustainable seaweed farming, as sustainability is a key concern, especially
for food, feed, and fuel.
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