Global Algal Protein Market, By Product Type, (Spirulina, Chlorella, Seaweed and Others), Form (Powder Form and Liquid Form), Source (Marine Algae and Fresh Water Algae), Application (Dietary Supplements, Food Products, Animal Feed, Pharmaceutical, Cosmetics and Personal Care and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Algal Protein Market
Data Bridge Market Research analyses that the global algal protein market will project a CAGR of 6.43% for the forecast period of 2021-2028. Growth and expansion of the food and beverages and feed industries, surging demand for plant-based protein alternatives, rising consumer consciousness towards high quality nutritional feed products and increasing personal disposable income by the major companies are the major factors attributable to the growth of algal protein market.
Also known as algae protein, algal proteins are extracted from algae, particularly from blue-green and green algae. In other words, algal protein is obtained by harvesting, extracting, drying and purifying seawater algae. Blue-green and green algae are rich in protein content, vitamins, minerals, omega-3 fatty acids and carotenoids. Therefore, algal protein is rich in high protein content, amino acid profile and excellent nutritional capabilities. Hence, algal protein finds its application in processed healthy food items and functional food items. Algal protein treats a wide range of diseases and disorders in humans such as weight loss, stress, hyperactivity disorder, anxiety, cancer, arthritis, thrombosis and so on. Further, algal proteins are used to prevent the cells from getting damaged.
Rising levels of demand for better nutrition and proteins and surge in application of algae protein in the production of enzyme are the major factors fostering the growth of the algal protein market. Changing lifestyle, growth and expansion of feed industry especially in the developing economies and rising consumer preference for meat and meat products are other important factors acting as algal protein market growth determinants. Rising expenditure to undertake research and development proficiencies and rising prevalence of chronic diseases will further induce growth in the algal protein market value.
However, requirement of a high quality sterility will pose a major challenge to the growth of the algal protein market. High costs associated with the research and development proficiencies and procedures will also hamper the algal protein market growth rate. Allergic reactions to algae in some individuals will yet again derail the algal protein market growth rate. Rising availability of other protein rich products and ever-rising vegan population will also act as market growth restraints.
This algal protein market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on algal protein market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Algal Protein Market Scope and Market Size
The algal protein market is segmented on the basis of product type, form, source and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the global algal protein market is segmented into spirulina, chlorella, seaweed and others. Seaweed segment is sub-segmented into brown algae, green algae and red algae.
- On the basis of form, the algal protein market is segmented into powder form and liquid form.
- On the basis of source, the algal protein market is segmented into marine algae and fresh water algae.
- On the basis of application, the algal protein market is segmented into dietary supplements, food products, animal feed, pharmaceutical, cosmetics and personal care and others.
Algal Protein Market Country Level Analysis
The algal protein market is analyses and market size, volume information is provided by country, product type, form, source and application as referenced above.
The countries covered in the algal protein market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America region dominates the algal protein market and will continue to during the forecast period owing to the increased demand for products that are rich in protein content. Asia-Pacific is set to undergo substantial gains and will score the highest CAGR owing to the growth and expansion of animal feed industry and increasing consumption of meat and meat products.
The country section of the algal protein market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Algal Protein Market Share Analysis
The algal protein market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to algal protein market.
The major players covered in the algal protein market report are Corbion Biotech, Inc., NP Nutra, Duplaco, Roquette Klötze GmbH & Co. KG, Parry Nutraceuticals, Seagrass Tech Private Limited, Phycom, Inc., nutrex.eu, Cyanotech Corporation., Far East Bio-Tec Co., Ltd.., Earthrise Nutritionals LLC, Rainbow Light, Allmicroalgae., ENERGYbits Inc., Heliae Development, LLC, Saurer Intelligent Technology AG, Solazyme, Spirulina Source, Nutress Hair and Nutrex Hawaii Inc. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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