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Global Algae Protein Market size worth over USD 1.05 billion by 2028

  • Published Date: March 29, 2022

According to a new research report by Global Market Insights Inc., the Algae Protein Market size is set to surpass USD 1.05 billion by the end of 2028.

Algae proteins constitute high protein content, amino acid profile and excellent nutritional capabilities which spur their application in functional, processed foods and health foods. Few species of microalgae and seaweed are known to contain protein levels which are similar to traditional protein sources, such as milk, egg, meat, and soybean. Brown algae are edible algae which provides health benefits during various conditions such as arthritis, cancer, stress, high cholesterol, heart disease, weight loss. They are nutritious therefore used in supplement form for consumption.

Green seaweed of commercial value includes Enteromorpha clathrate, Monostroma nitidium and Caulerpa species. Monostroma nitidium is a single layered green alga which provides health benefits thus used in soups, and salad ingredients. The antioxidant properties of Caulerpa species are used to treat various health conditions and diseases such as cardiovascular disorders and cancer disease. Kappaphycus and Eucheuma species are red seaweed of commercial value used to extract carrageenan which are used as thickening or emulsifying agent in food products.

High protein content of blue-green microalgae is driving the product utilization in various products including supplements and animal feed which should support industry growth

Global blue-green microalgae protein market is likely to surpass a consumption of over USD 250 million in 2028. Blue green being rich source of protein, vitamin A, B1, B2 and B12, essential fatty acids, and useful pigments including xanthophyll and carotenoids. These bio active components are not synthesized by human body and are consumed externally owing to which product finds applications in food & beverage sector and supplements. Rising awareness for consuming nutritious food products and supplements to overcome nutritional deficiency and stay healthy is expected to favor algae protein market growth.

Spirulina powder is primarily used as a dietary supplement extracted from the biomass of cyanobacteria or blue-green algae. Spirulina is widely consumed as a dietary supplement on account of its excellent nutritional, antioxidants, and vitamin B profile which should boost product demand. Spirulina lowers blood pressure, improves muscle strength, and provides excellent treatment against anemia which should drive its adoption in dietary supplement production.

Spirulina is largely used in food & beverage sector as it contains high content of natural pigments which provides blue color. The blue color in combination to other colors are used to obtain new and different customized colors such as violet, lavender, and green. Increasing number of health clubs and fitness centers along with rise in demand for cyanobacteria due to their contribution in weight reduction should further promote algae protein market growth.

Spirulina is widely used in cosmetic & personal care products especially for the anti-aging cream which should boost product demand. The product is used for cosmetics application as it offers persuading attributes including restructures skin, restores tone and brightness in tired skin, capacity of detoxification & exceptional hydration.

Browse key industry insights spread across 340 pages with 412 market data tables and 36 figures & charts from the report, “Algae Protein Market Size by Source (Seaweed {Brown Algae, Green Algae, Red Algae}, Micro algae {Blue-Green Algae (Spirulina), Green Algae (Chlorella), Others}), 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, Competitive Market Share & Forecast, 2022 – 2028in detail along with the table of contents:

Algae proteins promote weight loss and reduce fatigue & anxiety which is driving product demand in dietary supplement application

Algae protein market demand from dietary supplement application exceeded USD 300 million in 2021 and is expected to witness growth with a CAGR of over 6.5%. Dietary supplements made from algae proteins consists of chlorophyll, omega-3 fatty acids in the form of eicosapentaenoic acid (EPA) & docosahexaenoic acid (DHA) and iodine which should promote product demand. Algae proteins including Spirulina and Chlorella are predominantly used in manufacturing dietary supplements.

Algae proteins are widely used in dietary supplements for promoting weight loss, reduces attention deficit-hyperactivity disorder (ADHD) in case of diabetes, reduce fatigue & anxiety, and reduces premenstrual syndrome which can cause heart diseases. Favorable outlook toward medical nutrition on account of rising prevalence of cardiovascular diseases and the number of weight management programs is expected to further boost the algae protein market share.

Growing demand for plant-based dietary supplements owing to rising vegan population across the globe should accelerate algae-protein-based dietary supplements market growth. Increasing healthcare cost in emerging economies along with high burden of communicable and non-communicable diseases is driving the demand for dietary supplements for preventive healthcare.

The ability to be easily absorbed by the body should drive liquid algae protein market growth

Global liquid algae protein market is slated to surpass USD 235 million by end of 2028, with substantial growth over the predicted time. In liquid form Spirulina and chlorella is used for making nutritional health drinks. Its concentrated liquid form makes it an ideal food supplement for people of all ages and lifestyles. The product has several health benefits including improving cellular and brain health. Rising awareness for boosting immunity to prevent infections is expected to favor liquid algae protein market growth.

The liquid form is easily absorbed by the body and comprises of amino acids, vitamins, antioxidants, and essential. Antioxidants and vitamins present in the liquid form are beneficial for body as it helps maintain overall health and reduces the chances of illness. Moreover, highly concentrated liquid spirulina amino acids are a popular nutritional supplement for athletes who burn calories at a high rate.

Increasing physical activities to maintain good health along with favorable initiatives by the government to motivate individuals in the sports sector may foster product demand. Increasing awareness among the elderly to consume vitamins and minerals through supplements to fulfill body requirements should boost liquid algae protein market growth.

Rising livestock production along with increasing algae protein demand for animal feed application should drive market growth in Asia Pacific

Asia Pacific algae protein market is slated to surpass USD 245 million by end of 2028, with substantial growth over the predicted time. The algae protein has various benefits for animal health such as improved immune response, improved fertility, and better weight control which drives product application in animal feed. Supportive government initiatives including Rashtriya Gokul Mission (RGM) focusing on the development of Indian cattle should favor algae protein industry.

Increasing consumer focus to improve their appearance along with rapid economic growth is expected to drive algae protein based cosmetic market in this region. Rising penetration of beauty products among the youth supported by preference for chemical free cosmetic product should bolster algae protein-based cosmetics demand in the region. Availability of natural ingredients owing to agro-based economy is further expected to propel the algae proteins market.

Authors: Kunal Ahuja, Sonal Singh

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