The global Algal Protein Market size was valued at USD 3.15 Billion in 2022, and is growing at a CAGR of 8.4% from 2023 to 2030.
The research firm Contrive Datum Insights has just recently added to its database a report with the heading global Algal Protein Market .Both primary and secondary research methodologies have been utilised in order to conduct an analysis of the worldwide Algal Protein Market . In order to provide a comprehensive comprehension of the topic at hand, it has been summed up using appropriate and accurate market insights. According to Contrive Datum Insights, this worldwide comprehensive report is broken up into several categories in order to present the data in a way that is understandable, succinct, and presented in a professional manner. In 2020, the Spirulina market segment was the most lucrative, and it is projected to continue to lead throughout the forecast period. Algae are chlorophyll-containing aquatic plants that do not have vascular tissue, roots, true stems, or leaves. It inhabits both marine and fresh environments. Among the most common algae are blue-green algae, green algae, and red algae. Spirulina and chlorella are two types of algae that are particularly high in protein and can be used in a variety of ways, including as nutraceuticals, functional food, and feed. In recent years, algae have emerged as a viable alternative protein source due to their reliability and potential. Plant-based protein is gaining popularity in the developed economies, especially the United States and Europe, where people are increasingly interested in vegetarian and plant-based diets. The percentage of vegetarians and vegans in Europe, already at about 10%, is projected to rise steadily over the next few years. People everywhere are ready to alter their diets and embrace plant-based options. In the time span between 2014 and 2019, curiosity about “”veganism”” increased sevenfold, per Google Trends. Similar to how there are roughly 10 million vegans in the United States. Consumers’ shift away from meat consumption is largely motivated by ethical and environmental considerations. The growth of the algae protein market can be attributed to the rising vegan population, which is expected to increase the demand for alternative proteins like algae.
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It encompasses the most important key players in the world’s various regions and contains them. In this research report, several different techniques that high-level industries have utilised to achieve their goals are discussed. In order to obtain a more in-depth analysis of a number of different businesses, player profiles of the most important top players have been developed. It is beneficial to have an understanding of the worldwide competition on both the domestic and international platforms.
It provides a detailed description of the drivers and opportunities in the Algal Protein Market , which assists current customers and potential customers in gaining a clear vision and making decisions that are most effective for them. In order to discover the desired facts regarding the target market, various types of analysis models, such as Algal Protein Market , are utilised. In addition to this, it includes a variety of different techniques for strategic planning, which encourages the way to define and develop the framework of the various industries. Algae protein sales are broken down into regional, product, and application submarkets worldwide. Spirulina and chlorella are the two main product categories in this market. In terms of end use, the market is broken down into the pharmaceuticals and supplements sector, the food and beverage sector, and others. The research team looks at the algae protein market in every region, including the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The global algae market is divided into the spirulina and chlorella categories on the basis of product type. When it comes to algae proteins, spirulina has the world by storm. Spirulina’s protein content is higher than that of Chlorella’s, and it’s linked to a host of health benefits like reduced heart disease risk and better control of blood sugar levels. The market share leader by application is nutraceutical supplements, and this trend is expected to continue through 2024. Spirulina and chlorella’s high protein density have prompted more people to consume them as dietary supplements. Proteins, like those found in algae, are in high demand in the nutraceutical and supplement industry due to rising concerns about diet and nutrition.
Based on types, the Algal Protein Market is segmented into:
Based on application, the Algal Protein Market is segmented into:
- Dietary Food
- Feed Industry
- Pharmaceutical Industry
- Cosmetics Industry
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Corbion and Nestle SA formed a partnership in March 2022 with the goal of increasing the latter company’s offering of plant-based alternatives. Together, they will create ingredients derived from microalgae to improve environmental sustainability.
In March of 2020, Duplaco BV invested in cutting-edge machinery and a cutting-edge R&D facility in order to multiply output by a factor of twenty.
Unilever and the biotech startup Algenuity plan to explore the vast potential of microalgae in developing novel foods for Unilever’s plant-based portfolio beginning in 2020.
North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India are just some of the geographical segments that have been studied for the global Algal Protein market. The market for algal proteins is expected to be led by the global region. At a CAGR of 10.5% from 2018 to 2030, the market for algae proteins in North America is expected to expand at a rapid clip. The rising popularity of health and fitness among consumers in the United States, Canada, and Mexico has led to the supplement and food industries becoming the largest application segments in the North American market. In addition, the growth of the aquaculture sector is anticipated to boost demand over the projection period. Increasing export and domestic demand for botanical ingredients has propelled Asia Pacific to the top of the market, accounting for 91.38% of total market revenue. As a result of its convenient access to domestic raw materials, China is one of the largest producers of plant raw materials in the region. Demand for plant-based protein is expected to rise in the coming years as emerging markets like India, China, Indonesia, South Korea, and Malaysia invest in growing their pharmaceutical, animal feed, food & beverage, and cosmetics sectors.
Regional Algal Protein Market coverage (Regional Status, Demand Forecast, Country Trends, etc.):
- North America, Europe, China, Japan, Southeast Asia, India.
- North America (USA, Canada, and Mexico).
- Europe (Germany, France, UK, Russia and, Italy).
- Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in the Algal Protein Market include:
- Algal Protein Market Growth Drivers and Barriers.
- Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
- Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
- Regional and Country Level Analysis.
- Trends and Forecasts for Market Segments.
- Market Analysis and Various Recommendations.
- Key market forces.
This report will be customized to your needs for additional data up to 5 companies or 5 countries or nearly 40 analyst hours.
Key Market Participants in the Algal Protein Market :
The Nutrex Hawaii, Cyanotech Corporation, Heliae Development, TerraVia Holdings, and others.
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