Ellen Codd, Amsterdam Office, Bord Bia – Irish Food Board
With the global health and wellness trend’s continuous growth, demand for organic, free from, and naturally healthy products continues to thrive. Seaweed is just one product benefitting consumers’ search for plant-based foods with intrinsic protein, mineral or vitamin content, and, importantly, no need to artificially fortify them (Euromonitor). Research by Wageningen University showed that including seaweed in a products results in a higher purchase intention, regardless of the percentage of seaweed in the product, with consumers even more willing to purchase seaweed wraps than kale wraps. Even products with as little as 5% seaweed content benefit from the ‘health halo’ effect. Using seaweed as an auxiliary ingredient can boost the health perception of the product, as well as minimise its environmental impact.
Asia Pacific remains the largest market for seaweed products, accounting for 80% of the total market demand (Feedback Consulting), and strong growth is expected to continue at a CAGR of 9.4% (2017-2022). Demand in Europe is also increasing as consumer demand for seaweed in health food rises, with the market value expected to reach over $15 Mn by 2022.
The Netherlands, which along with the UK and Germany is one of the most attractive markets for plant-based snacks (Euromonitor), is already home to a number of established and start-up seaweed companies. Dutch startup UmaMeats have developed beef burgers containing 15% seaweed, while the Dutch Weed Burger opened as the first seaweed fast food bar in the world, and also supplies popular chain Bagels and Beans as well as independent restaurants.
Seaweed and algae products accounted for 1.34% of new product launches in Europe in 2017, over double what it made up in 2013. With an increasing number of vegans, vegetarians, and flexitarians across Europe, consumers are increasingly seeking out alternative and innovative sources of protein. Varieties such as Dulse can contain up to 25% protein, in addition to a myriad of valuable amino acids, vitamins and minerals. Opportunities exist under both branded and private label, with private label product launches, double those of branded in 2017 in the price-conscious Netherlands (GNDP).
For more information contact ellen.codd@bordbia.ie.
