Algae Protein Market Size By Source (Seaweed {Brown Algae, Green Algae, Red Algae}, Micro algae {Blue-Green Algae, Others}), By Product (Spirulina, Chlorella), By Dosage Form (Capsules, Liquid, Powder), By Application (Dietary Supplements, Food & Beverage (Bakery & Confectionery, Protein Drinks, Breakfast Cereals, Snacks), Animal Feed, Cosmetics), Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

Algae Protein market size exceeded USD 690 million in 2020 and is estimated to grow at a CAGR of over 6% between 2021 and 2027. Increasing use of algae proteins and nutrients for various applications, such as animal feed, dietary supplement, cosmetic, and food & beverage will drive market growth.

Algae proteins are extracted from different algae, such as seaweed and microalgae that consist of high protein levels, varying from 40% to 60%. These proteins are particularly extracted from blue-green and green algae, which are processed into various forms including liquid, powder, capsule, and pastes. Algae protein constitutes high protein content, amino acid profile, and excellent nutritional capabilities, increasing its application in processed foods, functional, and health foods.
 

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The growing demand for protein from non-meat sources will boost the demand for algal protein, in turn, accelerating market growth. Seaweed and microalgae are rich sources of protein, containing all the essential amino acids in different concentrations. The vegan protein offers health benefits of improved digestion, boost metabolism, lower cholesterol, and improved heart health, which are anticipated to support business expansion. Limited availability and high cost of animal protein and growing popularity of vegan diet will favor the overall business growth.
 

Rise in demand for seaweed protein for its application in food and nutritional supplements to drive business landscape

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Seaweed algae protein market surpassed USD 310 million in 2020 and is anticipated to witness significant gains over the forecast timeframe. Spirulina is a protein present in seaweed, containing essential amino acids. Spirulina extracted from seaweed helps to get the full range of amino acids. Red seaweeds are a potential source of proteins owing to which they are used in food products and nutritional supplements. Rising health awareness for consuming high protein diet among consumers will foster market statistics.
 

Growing concern toward health awareness among consumers is a significant factor that will propel seaweed algae protein industry share. The consumption of commercial seaweed protein supplements recover the lost mineral & vitamin levels in the human body while also regulating estradiol and estrogen levels. Seaweed is also a good source of omega-3 fats and vitamin B12, improving heart health and nerve health; therefore, widely used in food and nutritional supplements, positively impacting the overall market forecasts.
 

Increasing consumer shift toward processed food & beverage products with health benefits should augment market size

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Global algae protein market size from food & beverage applications is anticipated to surpass USD 230 million by 2027. These proteins are used in food & beverages products including bakery & confectionery, protein drinks, breakfast cereals, and snacks. These proteins are majorly used in food & beverages products manufacturing in order to incorporate insoluble fiber, healthy lipids, and micronutrients including lutein & zeaxanthin. Rising vegan population across the globe has resulted in the increasing demand for vegan-based food & beverage products, boosting the market growth.
 

Increase in the demand for processed food owing to rapid urbanization and increasing working population will boost food & beverages demand, positively impacting the algal protein business dynamics. Consumer shift toward healthy diets including low calorie, low sugar, and protein rich diet will increase consumer preference toward these proteins. The rising demand for organic food products along with a high demand for high protein beverages is driving the food & beverages industry, stimulating algae proteins product demand during the projected time frame.
 

Growing demand for nutraceuticals and nutritional supplements due to busy lifestyle and improper food habits should stimulate market growth in North America

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North America algae protein market is poised to surpass USD 290 million by 2027. Increasing emphasis over preventative healthcare is increasing the demand for nutritional supplements and nutraceutical products, fostering algal protein demand. Spirulina and chlorella are the two algal proteins that are widely used for nutraceutical product manufacturing. Heavy consumption of health supplements, strict regulations against the use of synthetic food color along with presence of key spirulina manufacturers in the U.S. will favor market expansion.
 

The region is witnessing a demand for nutritional health supplements from sports individuals and fitness concerned population to maintain overall health. Blue-green algae, such as spirulina and chlorella, are rich sources of vitamin, amino acid, protein, and other nutrients; therefore, widely used by manufacturers for nutritional supplement manufacturing. Growing steady investments in R&D for product innovations in this sector along with increasing consumer concern toward health and fitness should foster algal protein demand, thus accelerating business growth in the region.
 

Key business strategies adopted by manufacturers include innovation and new product launch

The algae protein market is competitive and includes various players such as Heliae Development LLC, ENERGYbits Inc, Far East Bio-Tec Co. Ltd, Far East Bio-Tec Co. Ltd, Roquette Klotze GmbH & Co. KG, Nutrex Hawaii Inc, Corbion N.V., Allmicroalgae, Phycom Microalgae, and Cyanotech Corporation. Companies are involved in business strategies such as innovation, new product launch, and production expansion.
 

Global algae protein market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD million from 2016 to 2027 for the following segments:

By Source

• Seaweed
  • Brown algae
  • Green algae
  • Red algae
• Micro algae
  • Blue-green algae
  • Others

By Product

• Spirulina
• Chlorella
• Others

By Dosage Form

• Capsules
• Liquid
• Powder
• Others

By Application

• Dietary Supplements
• Food & Beverage
  • Bakery & Confectionary
  • Protein Drinks
  • Breakfast Cereals
  • Snacks
  • Others 
• Animal Feed
• Cosmetics
• Others

The above information has been provided for the following regions:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Malaysia
• Latin America
  • Brazil
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE