Algae Protein Market

Algae Protein Market is valued at USD 648.67 Million in 2021 and expected to reach USD 1138.64 Million by 2028 with the CAGR of 8.37% over the forecast period.

Increasing awareness among consumers regarding algae proteins such as spirulina for its health benefits and High demand of algae products from Nutraceutical and pharmaceutical industries are driving the growth of global Algae Protein market.

Scope of Algae Protein Market-

Algae are a one of the simplest and abundant forms of plant life, ranging from single cell microalgae to largest seaweeds. Algae produce products like biodiesel, protein, fats, carbohydrate and other. Algae contain 10% to 50% of protein dependent upon their sizes. It is usually derived from algae with the benefit of enzymatic or solvent procedures. They are usually extracted from algae that are grown in fresh waters and marines. It is beneficial as they have the ability to improve immune system, decrease fatigue, decrease allergies and inflammation and others. They are widely used in applications such as food and beverages, dietary supplements, cosmetic and personal care and others. Algae protein is also used in the pharmaceutical and personal care businesses. In the personal care industry, skincare creams, lotions, and hair care products use chlorella as an ingredient.

Algae Protein market report is segmented on the basis of type, application and by regional & country level. Based upon type, Algae Protein market is classified into Chlorella and Spirulina. Based upon application, Algae Protein market is classified into Dietary Food, Feed Industry, Pharmaceutical Industry and Cosmetics Industry.

The regions covered in this Algae Protein market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Algae Protein is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Key Players Algae Protein Market Reports-

Algae Protein market report covers prominent players are Corbion Biotech, Inc., Cyanotech Corporation, Earthrise Nutritionals LLC, Roquette Frères, Heliae Development, LLC, Allmicroalgae, ENERGYbits Inc., Thermo Fisher Scientific Inc., Pond Tech, ALGAMA, BIOPROCESS ALGAE, LLC, Arizona Algae Products, LLC, NP Nutra, Parry Nutraceuticals, and Algatech LTD 

Algae Protein Market Segmentation –

By Type: Chlorella, Spirulina

By application: Dietary Food, Feed Industry, Pharmaceutical Industry, Cosmetics Industry

Regional & Country Analysis
North America
• U.S.
• Canada

Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific
• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America
• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Algae Protein Market Dynamics –

The global Algae Protein market is witnessing substantial growth due to increasing urbanization and economic developments global are driving the growth of global Algae Protein market. According to the WHO report, the worldwide urban population is predictable to grow approximately 1.84% per year between 2015 and 2020, 1.63% per year between 2020 and 2025, and 1.44% per year between 2025 and 2030. Additionally, growing ageing population is another factor contributing as a factor for the growth of this market in global. According to the WHO report, the pace of population ageing around the world is also increasing dramatically. Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22% and, the number of people aged 60 years and older will outnumber children younger than 5 years, 80% of older people will be living in low- and middle-income countries.

However, the allergic reactions and production cost of algae, Availability of cheap substitute will restrain the market growth. Furthermore, the consumption of plant-based protein has been increasing from the past decade due to growing vegan population and animal cruelty concerns which further provided that a better growth opportunity for the algae protein market.

Algae Protein Market Regional Analysis –

The North America is dominating the Algae Protein market with the potential rate due to growing ageing population is another factor contributing as a factor for the growth of this market in this region. According to data from World Population statistics, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). By 2050, one in four people living in Europe and Northern America could be old 65 or over. In 2018, for the first time in history, people aged 65 or overhead outnumbered children less than five years of age globally. The number of people aged 80 years or over is predictable to triple, from 143 million in 2019 to 426 million in 2050.

Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period due to rising exports and domestic demand for plant-based ingredients are driving the growth of global Algae Protein market. China is one of the largest manufacturers of plant-based ingredients in the region due to the easy obtainability of raw materials in the country.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2028
Market Size in 2020:	USD 648.67 Million
Base year considered	2020
Forecast Period CAGR %:	8.7%
Market Size Expected in 2027:	USD 1138.64 Million
Tables, Charts & Figures:	175
Pages	200
Key Players/Companies	Corbion Biotech, Inc., Cyanotech Corporation, Earthrise Nutritionals LLC, Roquette Frères, Heliae Development, LLC, Allmicroalgae, ENERGYbits Inc., Thermo Fisher Scientific Inc., Pond Tech, ALGAMA, BIOPROCESS ALGAE, LLC, Arizona Algae Products, LLC, NP Nutra, Parry Nutraceuticals, and Algatech LTD
Segments Covered	By Application, By Type
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits for Algae Protein Market Reports –

• Global Market report covers in depth historical and forecast analysis.
• Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global Market report helps to identify opportunities in market place.
• Global Market report covers extensive analysis of emerging trends and competitive landscape.