Algae Protein Market Size By Source (Seaweed {Brown Algae, Green Algae and 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) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Growing consumer interest over protein rich food should boost the algae protein consumption.

Algae Protein market size exceeded USD 700 Mn, globally in 2019 and is estimated to grow at over 6% CAGR between 2020 and 2026. Growing need for algae protein owing to its nutritional and other health related benefits will propel the global industry demand.
 

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Algae proteins, also known as algal proteins, are extracted from algae, particularly from blue-green and green algae, since it consists of high protein levels, varying from 40% to 60%. Algae proteins constitute high protein content, amino acid profile and excellent nutritional capabilities which spur their application in functional, processed foods and health foods.
 

Algae proteins are purified protein fractions, with limited applications as ingredients in food sector. However, recent development of chromoprotein from spirulina is used as food colorant in confectionery, dairy and sushi food products in Japan.
 

Algae protein market demand is witnessing a huge upsurge, owing to its high nutritional value, expanding vegan population, and erupting demand for plant-based protein food products. Additionally, rising sustainability issues over the increased greenhouse emissions during meat and poultry production has also diverted consumer attention towards plant-based ingredients.
 

Algae proteins aim to provide enhanced muscle health, boost immune system with increased strength. Health drinks with chlorella ingredients are gaining traction as alternatives to soft drinks owing to its refreshing taste and wide nutrient benefits. However, regulations over the imports of raw material for the production of gelatin and collagen products in European Union is anticipated to restrain the global market growth to some extent.
 

Global algae products market size is poised to surpass over USD 3 billion at the end of 2025. Algae is adopted as food source in coastal regions due to growing need for enriched diets filled with nutrients and vitamins. Also, algae products offer solutions for energy and sustainability and being adopted as alternative raw material in production of ethanol, jet fuel, biofuels, biobutanol, methane and green diesel. Up surging fuel prices and budding commercial applications will drive algae products market growth in the next few years.
 

Industry leaders continue to invest in product formulations and existing facilities expansion to provide efficient algae protein products with enhanced functional characteristics. GRAS certification coupled with development of superfood with algae strains will stimulate overall algae protein market trends.
 

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Rising demand for microalgae as sustainable protein usage to increase overall market statistics

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Global algae protein market is bifurcated on the basis of products as seaweed and micro algae. Seaweed is further segmented into brown, green and red algae. Micro algae is bifurcated into blue-green algae and others. Blue-Green algae currently holds the largest market share with revenue of surpassing USD 300 Million in 2019.
 

Blue green algae are a rich protein source containing essential amino acids and minerals. Microalgae contains a high proportion of proteins (upto 70%) unsaturated fatty acids, beta carotene and multivitamins. Algae protein market growth is attributed to its widespread awareness and benefits especially among younger and old age population. 
 

Micro algae have recently gained considerable interest globally, owing to their increasing application scope in biopharmaceutical, renewable energy, and nutraceutical industries. Microalgae are sustainable, and economical sources of biofuels, and are being adopted as alternatives to liquid fossil fuels.
 

Shifting attention towards microalgae as feedstock for bioenergy production to balance rising need for biofuels, food and feed will foster algae protein market outlook.
 

Increasing penetration in animal feed applications to spur algae protein industry statistics

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On the basis of application, algae protein market is segmented as dietary supplements, food & beverage, animal feed, cosmetics and others. Food and beverage are segmented as bakery & confectionery, protein drinks, breakfast cereals, snacks and others. Protein deficiency in animal feed is rising due to shrinking land size and fertility and dependency on the existing land caused by growth in per capita population. Global market growth is attributed to its utilization of algae an alternative to cattle feed.
 

Rising trend of using microbial protein as a substitute of grains in parts of an animal diet since soybean has been the key raw material for cattle feed. Soybean is a nutritious crop which represents substantial portion of protein human diets globally. Thus, soymeal substitution with algae in cow diets will foster global algae proteins market value by 2026.
 

Asia Pacific algae protein industry growth is attributed to increased demand for plant-based protein ingredients

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Asia Pacific algae protein market is set to witness over 6.5% CAGR up to 2026. Asia Pacific is categorized by a trend towards increased consumption of protein supplements due to which demand for algae-based products is growing. Growing exports and domestic demand for algae products due to easy accessibility to raw materials has spurred the product production in this region.
 

Chinese and Japanese target of mass spirulina production from seaweed has increased the demand for functional food products in region. Additionally, product demand in pharmaceutical, cosmetics and animal nutrition applications in China, India and Japan will boost algae protein industry in Asian region.
 

Vast expanse and uncontrollable human population growth have made animal protein expensive, forcing manufacturers to cost effective alternatives such as microalgae, since Asian countries have long history of using microalgae in food and supplements.
 

For instance, seafood firm Sophie Kitchen is producing food grade protein from microalgae and has procured SG$1 million investment to setup their fermentation facility in Singapore. Increasing investment in production of algae protein foods will fuel product market growth in this region.
 

Partnerships and new product launches to remain prime business strategies by market players

Global algae protein market is fragmented with key players including Corbion NV, Heliae Development LLC, ENERGYbits Inc., Far East Bio-Tec Co., Ltd, Roquette Klötze GmbH & Co. KG, Nutrex Hawaii Inc., Allmicroalgae and Myanmar Spirulina Factory.
 

Companies are engaged in strategic partnerships, product launches, research and development activities to expand their product portfolio and cater to the rising product demand across geographies. Key players are primarily engaged in production spirulina protein powder and capsules to cater to rising consumer demand.
 

Additionally, strategic partnerships between food and algae suppliers aim to enhance algae ingredients plant-based products. For instance, in 2019, Swiss food manufacturer Nestle and Dutch algae ingredients supplier entered into strategic partnership to develop microalgae based protein products. With the partnership, the company expects to increase its sales of algae protein products into large markets.
 

The algae protein market research report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2015 to 2026, 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 & Confectionery
  • Protein drinks
  • Breakfast cereals
  • Snacks
  • Others
• Animal Feed
• Cosmetics
• Others

The above information has been provided for the following regions and countries:

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