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Global Algae Protein Market Segmentation By Type (Chlorella, Spirulina, and Others); By Application (Pharmaceuticals, Dietary Supplements, Food & Beverages, and Others); and Region - Industry Forecast of 2022 to 2027

Published: January, 2022
ID: 12108
Pages: 175

Algae Protein Market Size, Growth, Forecast (2022-2027)

The Global Algae Protein Market size is estimated to grow from US$361.5 million in 2021 to US$ 710.2 million by the end of 2027, expanding at a CAGR of 8.9% during 2022 and 2027.

Global Algae Protein Market Scenario:

The Global Algae Protein Market is augmented to have the highest market revenue owing to the increasing awareness concerning the health benefits of algae protein among the population across the world. Algae is considered a protein-rich species and a sustainable source of protein. Algae comprise various types, including green or blue-green, and these also include 40 to 60% of protein and provide rich amino acids and other nutritional benefits. Over thousands of years, algae are used as human food across the globe. Some of the algae foods include dairy products, non-dairy milk alternatives, spirulina and chlorella products, supplements containing fish, oil, blue-green algae, omega-3 fatty acids, sea-flavored spices, and sea vegetables like nori, kelp, and dulse. The algae can be grown as benthos, planktons, epiphytes, and other typical aquatic habitats and supply a significant food source to tiny fishes, amphibians, and other animals. The algae protein proved to be the primary source for humans since most of them depend on fish rich in algae protein. This drives the global algae protein market to continue dominancy in the next six years.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2027

Base Year

2021

Forecast Period

2022 - 2027

CAGR

8.9%

Segments Covered

By Type, Application and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Corbion Biotech Inc, NP Nutra, Duplo, Roquette Klotze GmbH & Co. KG, Parry Nutraceuticals, Seagrass Tech Private Limited, Physiol BV and Others.

Algae Protein Market Drivers:

The rising awareness considering the health benefits of having algae protein among the population across the world is the primary factor that boosts up the global algae protein market growth during the forecast period. Moreover, the rising disposable incomes and rapid urbanization and economic developments are also anticipated to uplift the demand for algae protein market size and share very shortly. Furthermore, the growing demand for algae products from pharmaceutical and nutraceuticals firms and the increase in aging population across the globe are the factors acts as the driver that tends to heighten the global algae protein market in the next six years. Not only these factors, owing to the change in the lifestyle of the people globally and increasing health consciousness's of the people, rapid demand for nutritional products and rising government issues are also estimated to serve as foremost drivers for global algae protein market during the forecast period. 

Algae Protein Market Restraints:

The algae proteins are expensive to purchase, thus leading the customers to tend to slow down in number, which acts as a significant restraint for the global algae protein market. Moreover, the availability of various proteins in the market attracts consumers, which hinders the growth of the global algae protein market during the forecast period.

Recent Developments in the Algae Protein Market:

Corbion Biotech Inc. introduces Alga Prime DHA technology for aquaculture and animal nutrition that helps bring tremendous power to the aquaculture industry with sustainable, high-quality fish oil.

Challenges in the Algae Protein Market:

Some of the world's population may be allergic to algae and experience the symptoms of an allergic reaction, including rash, swelling, and difficulty in breathing, anaphylaxis, skin reactions, gastrointestinal effects, and goiter. In addition, the algae can produce toxins in water systems used by humans and animals that can have serious health issues. For example, humans and animals swimming in the water with blue-green algae can suffer from liver damage to paralysis since blue-green algae release toxins in the water. These are some of the characteristics that act as a significant challenge for the growth of the global algae protein market.

Algae Protein Market Segmentation:

By Type:

  • Chlorella
  • Spirulina
  • Others

Depending on the type, the global algae protein market is categorized into chlorella, spirulina, and others. Spirulina plays a crucial role in dominating the global algae protein market since it contains higher protein content. Spirulina is high in many nutrients and grows both in salt and fresh water. It is often termed as a blue-green algae and a type of cyanobacteria. NASA declared that spirulina could be given to astronauts due to its rich protein content. Spirulina offers essential amino acids and is rich in protein compared to eggs. It is considered an excellent source of antioxidants that can rescue against oxidative damage. Owing to these characteristics, spirulina dominates the global algae protein market during the foreseen period.

By Application:

  • Pharmaceuticals
  • Dietary Supplements
  • Food & Beverages
  • Others

The global algae protein market is divided into pharmaceuticals, dietary supplements, food & beverages, and others depending on the application. Dietary supplements application holds the most significant market CAGR and continues its global algae protein market growth. The massive protein density of chlorella and spirulina increases the adoption of dietary supplements. In addition, it is expanding population paired with growing nourishment demand for accessories such as proteins to uplift the adoption of algae protein in nutritional supplements application. Moreover, rising protein adoption from vegan consumers tends to propel the global algae protein growth and increase its size during the forecast period.

Global Algae Protein Market Regional Analysis:

The Global Algae Protein Market Report includes the segmentation of Regions:

  • North America - the United States and Canada
  • Europe - United Kingdom, Spain, Germany, Italy, and France
  • The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
  • Latin America - Brazil, Argentina, Mexico, and Rest of LATAM
  • The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

North America holds the largest algae protein market share due to the increasing demand for dietary supplements globally. On the other hand, the CAGR of algae protein slightly increases in the European algae protein market due to the rising adoption of fitness challenges in Europe. Moreover, the Asia Pacific region holds the third position during the foreseen period. This is due to consumers' rising number of health complications, thus driving the Asia Pacific Algae Protein Market to hold the steady CAGR. At the same time, owing to the changing lifestyle, Middle East & Africa Algae Protein Market tend to grow with a significant CAGR respectively during the forecast period due to the rising population focusing on health in the Middle East and Africa.

Impact of COVID-19 on the Global Algae Protein Market:

Global Algae Protein Market experienced a positive impact by COVID-19 because of the world's population's health consciousness. The Algae protein market has experienced a significant loss in its supply chain in the early stage of COVID-19. COVID-19 has caused widespread disruptions across various regions that led the government to impose a lockdown. Recently, online sales came in the track that led the players in the industry to spread their presence in the digital platform. Many of the consumers were adopted a vegan lifestyle due to COVID-19, thus increasing the growth of the algae protein market.

Algae Protein Market Key Players:

Major Key Players in the Global Algae Protein Market are

  • Corbion Biotech Inc.
  • NP Nutra
  • Duplo
  • Roquette Klotze GmbH & Co. KG
  • Parry Nutraceuticals
  • Seagrass Tech Private Limited
  • Physiol BV

 

1. Introduction                         

          1.1 Market Definition                

          1.2 Scope of the report             

          1.3 Study Assumptions             

          1.4 Base Currency, Base Year and Forecast Periods            

2. Research Methodology                    

          2.1 Analysis Design         

          2.2 Research Phases                 

                   2.2.1 Secondary Research

                   2.2.2 Primary Research    

                   2.2.3 Data Modelling       

                   2.2.4 Expert Validation    

          2.3 Study Timeline          

3. Report Overview                   

          3.1 Executive Summary             

          3.2 Key Inferencees         

4. Market Dynamics                            

          4.1 Impact Analysis         

                   4.1.1 Drivers         

                   4.1.2 Restaints     

                   4.1.3 Opportunities         

          4.2 Regulatory Environment                

          4.3 Technology Timeline & Recent Trends               

5. Competitor Benchmarking Analysis                     

          5.1 Key Player Benchmarking               

                   5.1.1 Market share analysis       

                   5.1.2 Products/Service    

                   5.1.3 Regional Presence   

          5.2 Mergers & Acquistion Landscape             

          5.3 Joint Ventures & Collaborations               

6. Market Segmentation                      

          6.1 Algae Protein Market , By Type                

                   6.1.1 Chlorella      

                   6.1.2 Spirulina       

                   6.1.3 Others

                   6.1.4 Market Size Estimations & Forecasts (2022 - 2027)   

                   6.1.5 Y-o-Y Growth Rate Analysis       

                   6.1.6 Market Attractiveness Index       

          6.2 Algae Protein Market , By Application                 

                   6.2.1 Pharmaceuticals     

                   6.2.2 Dietary Supplements        

                   6.2.3 Food & Beverages   

                   6.2.4 Others

                   6.2.5 Market Size Estimations & Forecasts (2022 - 2027)   

                   6.2.6 Y-o-Y Growth Rate Analysis       

                   6.2.7 Market Attractiveness Index       

7. Geographical Landscape                            

          7.1 Global Identity Governance and Administration Market, by Region              

          7.2 North America - Market Analysis (2022 - 2027)         

                   7.2.1 By Country   

                             7.2.1.1 USA

                             7.2.1.2 Canada

                   7.2.2 By Type       

                   7.2.3 By Application        

          7.3 Europe            

                   7.3.1 By Country   

                             7.3.1.1 UK

                             7.3.1.2 France

                             7.3.1.3 Germany

                             7.3.1.4 Spain

                             7.3.1.5 Italy

                             7.3.1.6 Rest of Europe

                   7.3.2 By Type       

                   7.3.3 By Application        

          7.4 Asia Pacific               

                   7.4.1 By Country   

                             7.4.1.1 China

                             7.4.1.2 India

                             7.4.1.3 Japan

                             7.4.1.4 South Korea

                             7.4.1.5 South East Asia

                             7.4.1.6 Australia & NZ

                             7.4.1.7 Rest of Asia-Pacific

                   7.4.2 By Type       

                   7.4.3 By Application        

          7.5 Latin America            

                   7.5.1 By Country   

                             7.5.1.1 Brazil

                             7.5.1.2 Argentina

                             7.5.1.3 Mexico

                             7.5.1.4 Rest of Latin America

                   7.5.2 By Type       

                   7.5.3 By Application        

          7.6 Middle East and Africa         

                   7.6.1 By Country   

                             7.6.1.1 Middle East

                             7.6.1.2 Africa

                   7.6.2 By Type       

                   7.6.3 By Application        

8. Key Player Analysis                         

          8.1 Corbion Biotech Inc.            

                   8.1.1 Business Description        

                   8.1.2 Products/Service    

                   8.1.3 Financials     

                   8.1.4 SWOT Analysis       

                   8.1.5 Recent Developments       

                   8.1.6 Analyst Overview    

          8.2 NP Nutra                   

          8.3 Duplo             

          8.4 Roquette Klotze GmbH & Co. KG             

          8.5 Parry Nutraceuticals            

          8.6 Seagrass Tech Private Limited                 

          8.7 Physiol BV                 

9. Market Outlook & Investment Opportunities                            

Appendix                        

          List of Tables                  

          List of Figures                 

 

  1. Global Algae Protein  Market By Region, From 2022 - 2027 ( USD Billion )
  2. Global Algae Protein  Market By Type, From 2022 - 2027 ( USD Billion )
  3. Global Chlorella Market By Region, From 2022 - 2027 ( USD Billion )
  4. Global Spirulina Market By Region, From 2022 - 2027 ( USD Billion )
  5. Global Others Market By Region, From 2022 - 2027 ( USD Billion )
  6. Global Algae Protein  Market By Application, From 2022 - 2027 ( USD Billion )
  7. Global Pharmaceuticals Market By Region, From 2022 - 2027 ( USD Billion )
  8. Global Dietary Supplements Market By Region, From 2022 - 2027 ( USD Billion )
  9. Global Food & Beverages Market By Region, From 2022 - 2027 ( USD Billion )
  10. Global Others Market By Region, From 2022 - 2027 ( USD Billion )

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FAQ's

What can be the size of the global Algae Protein Market by 2027?

By 2027, it is predicted that the global Algae Protein market can reach a valuation of US$ 710.2 million.

What can be the compound annual growth rate of the global Algae Protein market?

The Global Algae Protein market can expand with a CAGR of 8.9% during the forecast period.

Mention the major Key Players in the Global Algae Protein Market?

Corbion Biotech Inc, NP Nutra, Duplo, Roquette Klotze GmbH & Co. KG, Parry Nutraceuticals, Seagrass Tech Private Limited, Physiol BV and Others.

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