Algae Protein: Market Outlook
Algae Protein is obtained from a different type of algae plants. It is frequently used as an alternative plant protein and suitable to use for a variety of applications including food, dietary supplement, and others. Algae protein contains all the essential amino acids and provides the nutritional value to the different food products. Apart from that, algae protein also contains a wide range of fatty acid including omega-3 and omega-6 which are one of the major energy sources for the human body.
Algae protein derived from both freshwater algae and marine water algae. Freshwater algae protein obtained from the Spirulina plant, which is a rich source of minerals and proteins, whereas marine water algae protein found in the seaweeds plant, that are widely recognized as a substitute of animal protein. Algae protein possesses the various health beneficial properties and used for diabetes, weight loss, stress, anxiety, fatigue, heart diseases, depression, and other health-related issues. In addition, algae protein is also capable to boost the immune system and offer a high amount of nutrients to the human body.
Growing awareness regarding the health consciousness across the globe is fueling the global algae protein market
Global algae protein is driven by the growing health consciousness in consumers around the world. The global population is more focusing on getting additional nutritional values from a different food source. The consumers are demanding all the major nutrients such as protein, vitamin, minerals, and others in their preferred food. Algae protein is one of the rare protein sources which contains all the essential amino acids which require a healthy lifestyle. Moreover, the consumption of plant-based protein has been increasing from the past decade due to increasing vegan population and animal cruelty concerns which further providing a better growth opportunity for the algae protein market.
However, the production process of algae protein is highly sensitive which further make it a costly product to use, which is among the restraining factor for the global algae protein market. Besides cost, algae protein also facing the challenges regarding the several allergic reaction concerns after consuming it as a dietary supplement.
Global Algae Protein Market Segmentation
On the basis of type, global algae protein market is segmented as:
On the basis of applications, global algae protein market is segmented as:
On the basis of region, global algae protein market is segmented as:
Global Algae Protein Market: Key Players
Some of the major players of the global algae protein market are Corbion biotech inc, Cyanotech Corporation, Earthrise Nutritional, Nutress Bv, Nutrex BV, Far East Bio-Tec Co., Ltd.,, Rainbow Light Nutritional Systems, Inc., Algatechnologies Ltd., Allmicroalgae, Roquette Klötze, and others.
Opportunities for market participants in the global algae protein market
Algae protein is emerging as a strong alternative of animal protein and as well as offering the extreme amount of nutritional value which further accelerating the demand of algae protein and creating better opportunities for the manufacturer of algae protein to grow in the market. Furthermore, the growing trend of veganism especially in the developed region is further creating the more demand for the plant-based protein including algae protein, which led to the growth of market participants in the global algae protein market.
Global Algae Protein Market: Regional Outlook
Europe is leading in global algae protein with the highest market value share due to high consumption health-conscious products and increasing research and development activities regarding the algae. Whereas North America is also showing the significant value share in global algae protein market and the major reason is the growing consumption of plant-based protein diets. However, emerging economic regions such as South and East Asia is further showing the high growth in the global algae protein market due to increasing spending on a variety of food products.
The research report presents a comprehensive assessment of algae protein market, and contains thoughtful facts, historical data, insights, and statistically supported and industry-validated market data. The report also contains projections using a suitable set of methodologies and assumptions. The research report provides analysis and information according to market segments such as geography, end use, form, and distribution channel.
The report covers exhaustive analysis on:
The regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of algae protein market trends, macroeconomic indicators, and governing factors, along with algae protein market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The growing demand for protein has compelled the market leaders to explore alternative sources of protein, one such being the algae protein. The algae plants are now purposely cultivated to derive algae protein. Wide range of applications including food and dietary supplements are increasing the demand for algae protein.
Health Conscious Consumers Accelerate Demand
This protein is also demanded for its other components such as essential amino acid content that is used to enhance the nutritional value of the food products. The rich concentration of fatty acids such as omega-6 and omega-3 also account for the rise in consumption of these proteins as these acids are known to act as prominent energy sources for the human body. Different health benefits in ailments such as weight loss, fatigue, depression, stress, and heart diseases associated with the algae protein have escalated the inclusion of these proteins in dietary supplements. Besides nutritional content, the algae protein is known to boost immunity. The growing health-conscious population is primarily responsible for market growth. The adoption of algae protein has surged with the escalating demand for major nutrients including vitamins and minerals. Different growing cultures such as veganism along with rising concerns regarding animal cruelty have a major role to play in the progress of plant-based protein market, thereby positively influencing the algae protein market size.
The fast-paced progress of the market is restrained by different challenges. The highly sensitive production of algae incurs a huge cost on the producers which poses a challenge in the robust adoption of algae farming. Algae protein is known to be sensitive product and can cause allergies. These allergies are projected to reduce the consumption of algae protein in the coming years. The aforementioned factors are expected to restrain the growth of the algae protein landscape during the forecast period.
The global market can be segmented into spirulina, seaweeds, and chlorella based on type. Major applications of algae protein include food, animal feed, pharmaceutical and dietary supplements. Freshwater algae as well as the marine water algae are projected to gain traction in the market for their different applications. While freshwater algae are known to be a rich source of minerals and proteins, marine water algae protein is widely used as a substitute for animal protein.
Europe Generates Growth Prospects
Buoyed by the surge in consumption of health products and research and development activities, Europe is projected to lead the global market in terms of growth rate. The rise in consumption of plant-based protein is forecasted to generate lucrative growth opportunities in North America. Emerging economies such as East and South Asia are expected to grow at a fast pace during the forecast period, creating new revenue pools in the market.
Market players are targeting the vegan population with their products. They are introducing innovative products to enhance the acceptability of algae protein amongst the consumers. Established players profiled in the global algae protein market include Rainbow Light Nutritional Systems, Inc., Cyanotech Corporation, Allmicroalgae, Nutrex BV, Corbion biotech inc, and Earthrise Nutritional.