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Algae Protein Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The algae protein market is segmented by Type (Spirulina, Chlorella, and Other Types), Application (Food and Beverages, Dietary Supplements, Pharmaceuticals, and Other Applications), and Geography.

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Market Snapshot

Global Algae Protein Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.71 %

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Market Overview

The algae protein market is projected to register at a CAGR of 6.71% during the forecast period (2020 - 2025).

  • High nutritional value and the increasing popularity of naturally-derived food products and health supplements, due to the increasing number of health-conscious consumers and constant growth in population, are some of the major drivers for the growth of the chlorella ingredients market.
  • The expanding vegan population in Europe is another major factor responsible for the growth of the market. Furthermore, with rising awareness about the various health benefits of vegan diets, the number of people adopting vegan lifestyles is increasing across the globe.
  • Algae protein is also used in the pharmaceutical and personal care industries. In the personal care industry, skincare creams, lotions, and hair care products use chlorella as an ingredient.

Scope of the Report

The algae protein market is segmented by type, application, and geography. Based on type, the market is segmented into spirulina, chlorella, other types. Based on the application, the market is segmented into food and beverages, dietary supplements, pharmaceuticals, and others. Based on geography, the study provides an analysis of the algae protein market in the emerging and established markets globally, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

By Type
Spirulina
Chlorella
Other Types
By Application
Food & Beverages
Dietary Supplements
Pharmaceuticals
Other Applications
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
France
Russia
Italy
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Growing Demand for Healthy Foods and Beverages

Health drinks with algae protein, including chlorella ingredients that provide health benefits, as well as a refreshing taste, are becoming increasingly popular, globally. The segment is primarily fueled by the emerging food fortification technologies and the discoveries of nutrient benefits, in order to meet the demand. The growth in the demand for functional food is expected to outpace the growth in the demand for conventional food, globally. Consumers are developing a preference for functional beverages, due to their ready-to-drink versions that offer enhanced convenience. 

algae protein market1

North America Dominates the Market

North America dominated the global algae protein market in 2018. Dietary supplements and food products are the major application segments in the North American market, attributable to the rising fitness awareness among consumers in the United States, Canada, and Mexico. In Europe, aquafeed demand has witnessed a significant increase in demand over the past few years, owing to the expansion of marine aquaculture in countries such as Norway, Denmark, and Ireland. The growing aquaculture industry in Europe is expected to boost the demand for the product over the forecast period. The market in the Asia Pacific is expected to grow significantly owing to the growing exports and domestic demand for plant-based ingredients. China is one of the largest producers of plant-based ingredients in the region due to the easy availability of raw materials in the country. In addition, the growth in the pharmaceutical, cosmetics, animal feed, and food and beverage industries is expected to propel the demand for plant proteins from the developing economies, such as China, India, Indonesia, Malaysia, and South Korea over the next few years.

algae protein market2

Competitive Landscape

The global algae protein market is competitive in nature having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Some of the major key players in the algae protein market, globally include Corbion Biotech Inc., NP Nutra, Duplaco, Roquette Klötze GmbH & Co. KG, and Parry Nutraceuticals, among others.

Algae Protein market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Spirulina

      2. 5.1.2 Chlorella

      3. 5.1.3 Other Types

    2. 5.2 By Application

      1. 5.2.1 Food & Beverages

      2. 5.2.2 Dietary Supplements

      3. 5.2.3 Pharmaceuticals

      4. 5.2.4 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Position Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Corbion Biotech Inc.

      2. 6.4.2 NP Nutra

      3. 6.4.3 Duplaco

      4. 6.4.4 Roquette Klotze GmbH & Co. KG

      5. 6.4.5 Parry Nutraceuticals

      6. 6.4.6 Seagrass Tech Private Limited

      7. 6.4.7 Phycom BV

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Algae Protein Market market is studied from 2016 - 2026.

The Algae Protein Market is growing at a CAGR of 6.71% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Corbion Biotech, Inc., NP Nutra, Duplaco, Roquette Klötze GmbH & Co. KG, Parry Nutraceuticals, Seagrass Tech Private Limited are the major companies operating in Algae Protein Market.

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