Algae Protein Market by Type and Geography - Forecast and Analysis 2022-2026

Published: Mar 2022 Pages: 124 SKU: IRTNTR72865

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.

What will the Algae Protein Market Size be During the Forecast Period?

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Algae Protein Market: Key Drivers, Trends, and Challenges

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.

Parent Market Analysis

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.

Who are the Major Algae Protein Market Vendors?

The report analyzes the market's competitive landscape and 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.
  • Zhejiang Binmei Biotechnology Co. Ltd.

 

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.

Product Insights and News

  • Corbion NV - Under the incubator segment, the company offers three main product categories in incubators, that are algae-based omega-3, algae proteins, and co-polymer. 
  • Corbion NV - The company offers AlgaPrimeTM DHA that brings the amazing power of algae to the aquaculture industry with a traceable, sustainable, high-quality alternative to fish oil.

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.

Algae Protein Market Value Chain Analysis

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.

Which are the Key Regions for Algae Protein Market?

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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.

What are the Revenue-generating Type Segments in the Algae Protein Market?

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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.

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What are the Key Data Covered in this Algae Protein Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive algae protein market growth during the next five years
  • Precise estimation of the algae protein market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the algae protein industry across Europe, North America, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of algae protein market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

  • 5.1 Market segments
    • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
  • 5.2 Comparison by Type
    • Exhibit 26: Chart on Comparison by Type
    • Exhibit 27: Data Table on Comparison by Type
  • 5.3 Spirulina - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Spirulina - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Spirulina - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Spirulina - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Spirulina - Year-over-year growth 2021-2026 (%)
  • 5.4 Chlorella - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Chlorella - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Chlorella - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Chlorella - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Chlorella - Year-over-year growth 2021-2026 (%)
  • 5.5 Others - Market size and forecast 2021-2026
    • Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)
  • 5.6 Market opportunity by Type
    • Exhibit 40: Market opportunity by Type ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 44: Chart on Geographic comparison
    • Exhibit 45: Data Table on Geographic comparison
  • 7.3 Europe - Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.4 North America - Market size and forecast 2021-2026
    • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.5 APAC - Market size and forecast 2021-2026
    • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 France - Market size and forecast 2021-2026
    • Exhibit 66: Chart on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on France - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on France - Year-over-year growth 2021-2026 (%)
  • 7.9 US - Market size and forecast 2021-2026
    • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.10 China - Market size and forecast 2021-2026
    • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.11 Ireland - Market size and forecast 2021-2026
    • Exhibit 78: Chart on Ireland - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on Ireland - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on Ireland - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Ireland - Year-over-year growth 2021-2026 (%)
  • 7.12 India - Market size and forecast 2021-2026
    • Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 89: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 90: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 91: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 92: Matrix on vendor position and classification
  • 10.3 Corbion NV
    • Exhibit 93: Corbion NV - Overview
    • Exhibit 94: Corbion NV - Business segments
    • Exhibit 95: Corbion NV - Key offerings
    • Exhibit 96: Corbion NV - Segment focus
  • 10.4 Cyanotech Corp.
    • Exhibit 97: Cyanotech Corp. - Overview
    • Exhibit 98: Cyanotech Corp. - Product / Service
    • Exhibit 99: Cyanotech Corp. - Key offerings
  • 10.5 DIC Corp.
    • Exhibit 100: DIC Corp. - Overview
    • Exhibit 101: DIC Corp. - Business segments
    • Exhibit 102: DIC Corp. - Key news
    • Exhibit 103: DIC Corp. - Key offerings
    • Exhibit 104: DIC Corp. - Segment focus
  • 10.6 E.I.D. Parry India Ltd.
    • Exhibit 105: E.I.D. Parry India Ltd. - Overview
    • Exhibit 106: E.I.D. Parry India Ltd. - Business segments
    • Exhibit 107: E.I.D. Parry India Ltd. - Key offerings
    • Exhibit 108: E.I.D. Parry India Ltd. - Segment focus
  • 10.7 ENERGYbits Inc.
    • Exhibit 109: ENERGYbits Inc. - Overview
    • Exhibit 110: ENERGYbits Inc. - Product / Service
    • Exhibit 111: ENERGYbits Inc. - Key offerings
  • 10.8 Natures Power Nutraceuticals Corp.
    • Exhibit 112: Natures Power Nutraceuticals Corp. - Overview
    • Exhibit 113: Natures Power Nutraceuticals Corp. - Product / Service
    • Exhibit 114: Natures Power Nutraceuticals Corp. - Key offerings
  • 10.9 NOW Health Group Inc.
    • Exhibit 115: NOW Health Group Inc. - Overview
    • Exhibit 116: NOW Health Group Inc. - Product / Service
    • Exhibit 117: NOW Health Group Inc. - Key offerings
  • 10.10 Phycom BV
    • Exhibit 118: Phycom BV - Overview
    • Exhibit 119: Phycom BV - Product / Service
    • Exhibit 120: Phycom BV - Key offerings
  • 10.11 Prolgae Spirulina Supplies Pvt. Ltd.
    • Exhibit 121: Prolgae Spirulina Supplies Pvt. Ltd. - Overview
    • Exhibit 122: Prolgae Spirulina Supplies Pvt. Ltd. - Product / Service
    • Exhibit 123: Prolgae Spirulina Supplies Pvt. Ltd. - Key offerings
  • 10.12 Vimergy LLC
    • Exhibit 124: Vimergy LLC - Overview
    • Exhibit 125: Vimergy LLC - Product / Service
    • Exhibit 126: Vimergy LLC - Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 127: Inclusions checklist
    • Exhibit 128: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 129: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 130: Research methodology
    • Exhibit 131: Validation techniques employed for market sizing
    • Exhibit 132: Information sources
  • 11.5 List of abbreviations
    • Exhibit 133: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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