Algae Protein Market - Growth, Trends, and Forecast (2020 - 2025)

Global Algae Protein Market is segmented by Type (Spirulina, Chlorella, and Other Types); and by Geography.

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

6.71 %

Major Players:

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Market Overview

The global algae protein market is projected to grow 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, owing to the increasing number of health-conscious consumers, the and constant growth in population, are some of the growth drivers for the chlorella ingredients market.
  • The expanding vegan population in Europe is one of the primary growth drivers of the market studied. 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. It is also used in cosmetic products, as an added pigmentation ingredient.

 

 

Scope of the Report

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.

By Type
Spirulina
Chlorella
Other Types
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 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 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 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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Competitive Landscape

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.

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 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

        4. 5.2.1.4 Rest of North America

      2. 5.2.2 Europe

        1. 5.2.2.1 United Kingdom

        2. 5.2.2.2 Germany

        3. 5.2.2.3 France

        4. 5.2.2.4 Russia

        5. 5.2.2.5 Italy

        6. 5.2.2.6 Spain

        7. 5.2.2.7 Rest of Europe

      3. 5.2.3 Asia Pacific

        1. 5.2.3.1 India

        2. 5.2.3.2 China

        3. 5.2.3.3 Japan

        4. 5.2.3.4 Australia

        5. 5.2.3.5 Rest of Asia-Pacific

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 South Africa

        2. 5.2.5.2 Saudi Arabia

        3. 5.2.5.3 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 Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Allmicroalgae

      2. 6.4.2 ENERGYbits Inc.

      3. 6.4.3 Far East Bio-Tec Co., Ltd

      4. 6.4.4 Heliae Development, LLC

      5. 6.4.5 Myanmar Spirulina Factory

      6. 6.4.6 Nutrex Hawaii Inc.

      7. 6.4.7 Roquette Klotze GmbH & Co. KG

      8. 6.4.8 Corbion NV

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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