Enjoy complimentary customisation on priority with our Enterprise License!
The algae protein market share is expected to increase by USD 171.7 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.75%.
This algae protein market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers algae protein market segmentation by type (spirulina, chlorella, and others) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The algae protein market report also offers information on several market vendors, including Corbion NV, Cyanotech Corp., DIC Corp., Duplaco BV, E.I.D. Parry India Ltd., ENERGYbits Inc., Far East Bio Tec Co. Ltd., Fuqing King Dnarmsa Spirulina Co. Ltd., JUNE Group of Companies, Natures Power Nutraceuticals Corp., NOW Health Group Inc., Phycom BV, Prolgae Spirulina Supplies Pvt. Ltd., Roquette Klotze GmbH and Co. KG, Seagrass Tech Pvt. Ltd., Tianjin Norland Biotech Co. Ltd, Triton, Vimergy LLC, Yunnan Green A Biological Project Co. Ltd., and Zhejiang Binmei Biotechnology Co. Ltd. among others.
Download the Free Report Sample to Unlock the Algae Protein Market Size for the Forecast Period and Other Important Statistics
The growing demand for nutritious food and beverages is notably driving the algae protein market growth, although factors such as stringent regulations may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the algae protein industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Algae Protein Market Driver
The growing demand for nutritious food and beverages is one of the key drivers supporting the algae protein market growth. Algae protein drinks, which include chlorella components that give health advantages as well as a pleasant flavor, are becoming more popular across the world. To fulfill this demand, food and beverage manufacturers are embracing emerging food fortification technologies and the newly discovered nutrient benefits of such drinks. Globally, the demand for functional food is expected to outstrip the demand for traditional food. Functional drinks are gaining popularity among consumers due to the growing availability of their ready-to-drink variants, which provide added convenience. Such beneficiary attributes will drive market growth during the forecast period.
Key Algae Protein Market Trend
Growing demand for naturally obtained health supplements is one of the key algae protein market trends contributing to the algae protein market growth. For instance, Vegetology, a company dedicated to the development of innovative health and beauty products, offers Opti3 Omega-3 EPA and DHA, which is made of microalgal particles. Also, algae protein products are a 100% vegetable source of Omega-3 supplements, which are generally marketed as vegan Omega-3 supplements. Owing to factors such as the growing prevalence of chronic diseases, lifestyle changes, and the deficiency of various nutrients in food, the consumption of plant-based fats and lipids is rapidly increasing across the globe. Consequently, this has resulted in a significant increase in the demand for Omega-3 supplements. Therefore, the sales of dietary supplements that contain algae protein products are anticipated to witness significant growth during the forecast period.
Key Algae Protein Market Challenge
Stringent regulations is one of the factors hindering the algae protein market growth. Market vendors must comply with the stringent rules and regulations imposed by various regulatory authorities. These regulations pertain to permits and import-export regulations on the entry of new players, product labeling, and product launches and expiry dates. To ensure the safety and quality of food products, regulatory authorities in different countries have laid out standards for the manufacturers of natural protein powders. However, complying with these regulations is a difficult task for manufacturers as any deviation from the guidelines specified by these regulatory bodies can affect the brand image of these companies. It may also result in the cancellation of permits to trade with those countries. Such challenges will limit the market growth during the forecast period.
This algae protein market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global algae protein market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the algae protein market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the algae protein market encompasses successful business strategies deployed by the key vendors. The algae protein market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The algae protein market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the algae protein market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
39% of the market's growth will originate from Europe during the forecast period. France and Ireland are the key markets for the algae protein market in Europe. Market growth in this region will be faster than the growth of the market in other regions.
The growing aquaculture industry will facilitate the algae protein market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic became a serious healthcare emergency in Europe, with the UK and Italy among the severely affected countries. However, in 2021, many European countries initiated large-scale vaccination drives, which resulted in a decline in the number of COVID-19 cases in Europe. Thus, the decline in the number of COVID-19 cases resulted in the removal of restrictions and restoration of the supply chains for algae protein, which will spur demand for algae protein in the region during the forecast period.
To gain further insights on the market contribution of various segments Request for a FREE sample
The algae protein market share growth by the spirulina segment will be significant during the forecast period. Spirulina is extensively used in the nutraceutical industry due to its health benefits. It is an organic health supplement and can help combat malnutrition and provide improved health to the user. Humanitarian organizations such as the World Health Organization (WHO) are using spirulina supplements in poor countries to fight severe malnutrition among children. All these factors contribute to the high demand for spirulina during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the algae protein market size and actionable market insights on post COVID-19 impact on each segment.
Algae Protein Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.75% |
Market growth 2022-2026 |
$ 171.7 million |
Market structure |
Fragmented |
YoY growth (%) |
5.71 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 39% |
Key consumer countries |
US, China, India, France, and Ireland |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Corbion NV, Cyanotech Corp., DIC Corp., Duplaco BV, E.I.D. Parry India Ltd., ENERGYbits Inc., Far East Bio Tec Co. Ltd., Fuqing King Dnarmsa Spirulina Co. Ltd., JUNE Group of Companies, Natures Power Nutraceuticals Corp., NOW Health Group Inc., Phycom BV, Prolgae Spirulina Supplies Pvt. Ltd., Roquette Klotze GmbH and Co. KG, Seagrass Tech Pvt. Ltd., Tianjin Norland Biotech Co. Ltd, Triton, Vimergy LLC, Yunnan Green A Biological Project Co. Ltd., and Zhejiang Binmei Biotechnology Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.