Global Algae Protein Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. Algae are chlorophyll-containing aquatic plants that lack vascular tissue, roots, true stems, and leaves. Both freshwater and seawater contain it. Red algae, green algae, and blue-green algae are the three most common forms of algae. Spirulina and chlorella algae, for example, have a high protein content and are employed as nutraceuticals as well as functional food and feed. Algae has been shown to be a dependable and viable source of protein and has emerged as a viable protein substitute. Increasing consumption of protein products and rising health consciousness among consumers, drive the market growth during the estimated period. For instance, The European Food Safety Authority (EFSA), the Food and Drug Administration (FDA), and other significant food regulatory authorities have all declared spirulina to be generally regarded as safe (GRAS). Many algae species produce excellent protein yield per unit of land, making them a significant solution to the protein problem. Spirulina algae contain 60-71 grams of protein per 100 grams, making it suitable for a variety of functional food and beverage applications. Moreover, rise in strategic initiatives related to algae protein across the world propels the market growth in the projected period. For instance, in March 2022, Corbion partnered with Nestle SA in March 2022 to help increase a move toward a plant-based product line. To add additional value to sustainability, the two will collaborate to develop microalgae-based compounds. However, ascending demand for other sources of protein impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Algae Protein Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is leading the market growth owing to rising fitness awareness among consumers in the United States and growing aquaculture industry in the region. However, Asia Pacific is expected to be the fastest growing region, due to easy availability of raw materials in the country and growing pharmaceutical industry.

Major market players included in this report are:

Roquette Freres

AlgoSource SA

Ponds Technology Inc

Phycom BV

Cyanotech Corporation

Seagrass Tech Private Limited

Duplaco BV

Algenuity Limited

Corbion NV

Algenol Biotech

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Spirulina

Chlorella

Other Types

By Application:

Food & Beverages

Dietary Supplements

Pharmaceuticals

Other Applications

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Algae Protein Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors