Algae Protein Market size to exceed $1060mn by 2027

Algae Protein market size is set to surpass USD 1,060 million by 2027, according to a new research report by Global Market Insights, Inc
 

Algae protein also known as algal protein contains a high amount of protein ranging from 40% - 60%. Algae is used as a versatile food and supplement ingredient as it contains functional compounds such as beta-carotene, astaxanthin, phycocyanin, and omega-3 fatty acid such as EPA and DHA. The algal proteins are available in various forms, such as capsules, powder, liquid, and paste, having various industrial applications including cosmetics, animal feed, dietary supplements, and food & beverage.  

 

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Increasing use of spirulina algal protein in animal feed and cosmetics should augment market growth

Algae protein market from spirulina product witnessed a consumption of over 25 kilo tons in 2020. Spirulina algal protein will witness demand from animal feed manufacturers as it is a highly nutritious potential feed source. Spirulina is widely used in animal feed owing to its benefits of improving animal growth, aesthetic, fertility, and enhancing product quality by improving the overall nutrition of the animal feed, which is forecast to favorably impact the market expansion.

Spirulina is widely used in cosmetic & personal care products especially for the anti-aging cream. Spirulina for cosmetics application offers persuading attributes including restructures skin, restores tone and brightness in tired skins, capacity of detoxification & exceptional hydration, help in particular to fight pernicious effects of the sun on the skin, calming effect on irritated skins, and recommended for treating problem skin including dryness, itching & acne. These aforementioned factors will accelerate spirulina-based algae proteins demand for cosmetic application, stimulating business landscape.
 

Browse key industry insights spread across 340 pages with 459 market data tables and 32 figures & charts from the report, “Algae Protein Market Forecasts By Source (Seaweed {Brown Algae, Green Algae, Red Algae}, Micro algae {Blue-Green Algae, Others}), Product (Spirulina, Chlorella), Dosage Form (Capsules, Liquid, Powder), Application (Dietary Supplements, Food & Beverage (Bakery & Confectionery, Protein Drinks, Breakfast Cereals, Snacks), Animal Feed, Cosmetics), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/algae-protein-market
 

Growing demand for dietary supplements owing to increased attention toward health and fitness should stimulate algae protein industry statistics

Algae protein market demand from dietary supplements applications is expected to exceed USD 460 million by 2027. Dietary supplements made from algal proteins consist of chlorophyll, omega-3 fatty acids in the form of eicosapentaenoic acid (EPA) & docosahexaenoic acid (DHA), and iodine, promoting product demand. The algal proteins including Spirulina and chlorella are predominantly used in manufacturing dietary supplements in the form of powder, liquid, tablet, and capsules, fostering business scenario.

Algae protein in dietary supplements are used to reduce anxiety & fatigue, improve memory, promote weight loss, and treat various other health problems such as anemia, attention deficit-hyperactivity disorder (ADHD), stress, depression, hay fever, and diabetes. Consumers are inclined toward undertaking preventive health measures owing to which dietary supplements are gaining importance. The growing demand for plant-based dietary supplements owing to rising vegan population across the globe will accelerate algal protein-based dietary supplements demand.
 

Increasing demand for cosmetic products along with consumer focus on improving health and appearance should drive algae protein demand in Asia Pacific  

Asia Pacific algae protein market is slated to exceed USD 250 million by 2027, with a substantial growth over the next six years. Effective distribution channels along with rise in high accessibility and visibility of different cosmetic products should contribute to regional industry share. The rising penetration of beauty goods in young generation supported by chemical free cosmetic product trends will fuel regional algal protein-based cosmetics demand. The availability of natural ingredients owing to agro-based economy should stimulate algal protein demand, accelerating regional industry expansion.

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.
 

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