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Global Algae Protein Market is segmented by Type (Spirulina, Chlorella, and Other Types); and by Geography.
Fastest Growing Market:
The global algae protein market is projected to grow at a CAGR of 6.71% during the forecast period (2020 - 2025).
The global algae protein market is segmented by type and geography. Based on type, the market is segmented into spirulina, chlorella, other types. Based on geography, the study provides an analysis of the algae protein market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
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Health drinks with algae protein including chlorella ingredients that provide benefits for the body, as well a refreshing taste, are becoming increasingly popular, across the globe. Driven in part by emerging food fortification technologies and the discoveries of nutrient benefits, consumers are choosing to make the most of their nutritional intake. The growth of functional food is set to outpace the growth of conventional food, globally. Consumers are developing an affinity for functional beverages, due to their ready-to-drink versions that offer enhanced convenience, thereby providing a suitable, convenient, and healthy alternative to soft drinks.
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North America dominated the global algae protein market in 2018. Dietary supplements and food products are the major application segments in the North America market, attributable to the rising fitness awareness among consumers in the U.S., 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, growth in pharmaceutical, cosmetics, animal feed, and food & beverage industries is likely to propel the demand for plant proteins from developing economies such as China, India, Indonesia, Malaysia, and South Korea over the next few years.
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Some of the major key players in the algae protein market, globally includes Allmicroalgae, ENERGYbits Inc., Far East Bio-Tec Co., Ltd, Roquette Klötze GmbH & Co. KG, Myanmar Spirulina Factory, Heliae Development, LLC, among others.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.3 Other Types
5.2.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.2.3 Asia Pacific
22.214.171.124 Rest of Asia-Pacific
5.2.4 South America
126.96.36.199 Rest of South America
5.2.5 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 Saudi Arabia
220.127.116.11 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.2 ENERGYbits Inc.
6.4.3 Far East Bio-Tec Co., Ltd
6.4.4 Heliae Development, LLC
6.4.5 Myanmar Spirulina Factory
6.4.6 Nutrex Hawaii Inc.
6.4.7 Roquette Klotze GmbH & Co. KG
6.4.8 Corbion NV
7. MARKET OPPORTUNITIES AND FUTURE TRENDS