Global Algae Protein Market Size, Trends, By Type (Microalgae, Macroalgae), By Application (Food & Beverages, Dietary Supplements, Animal Feed, Cosmetics, Personal Care Products), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa): Global Opportunity Analysis and Industry Forecast, 2023-2030.
Global Algae Protein Market
The Global Algae Protein Market was valued at US$ 3.42 Bn in 2022, estimated to reach US$ 6.18 Bn by 2030, with a CAGR of 7.56% from 2023-2030.
Algae protein is a type of plant-based protein that is derived from various types of algae, including blue-green algae, green algae, and diatoms. Algae protein is considered a sustainable protein source because it requires significantly less land, water, and resources to produce compared to traditional protein sources such as meat and dairy. It is also a complete protein, containing all essential amino acids that are required for human nutrition.
Market Drivers
The global market for algae protein is being driven by the increasing demand for plant-based proteins. The rising popularity of veganism and vegetarianism is driving the demand for algae protein. Algae protein is a sustainable and environmentally friendly alternative to animal-based proteins, making it attractive to consumers who are concerned about the impact of their dietary choices on the planet.
Additionally, algae protein is a rich source of amino acids and other nutrients, which is driving demand from the sports nutrition and functional foods sectors. The increasing awareness of the health benefits of algae protein, including its ability to improve heart health, reduce inflammation, and support weight loss, is also driving demand.
Market Restraints
The global algae proteins market may be restrained by the high production cost of algae-based proteins, which is often more expensive compared to traditional sources of protein. Another challenge is the limited availability of suitable algae strains for commercial production. Algae cultivation is also highly dependent on the availability of water resources, and any constraints in water availability can significantly affect the growth of the market.
Moreover, as algae-based proteins are relatively new to the market, consumers may also have limited awareness about their benefits and may prefer traditional protein sources, which can further limit the market's growth.
Market Segmentation
The scope of the global algae proteins market covers segmentation based on type, application, and region.
Based on the source of algae, the market is segmented into microalgae and macroalgae. Based on the applications, the market is segmented into food and beverages, dietary supplements, animal feed, cosmetics, and personal care products.
Regional Analysis
The global algae proteins market is segmented into 5 main regions, namely, North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Currently, North America dominates the global algae proteins market due to the increasing demand for plant-based proteins, the growing vegan population, and rising health awareness.
The Asia Pacific region is expected to witness the fastest growth in the coming years due to factors such as the increasing demand for plant-based protein sources, a large vegetarian population, and growing health consciousness. Additionally, countries like China and India have a high demand for algae proteins due to their use in various applications such as food and beverage, animal feed, and pharmaceuticals. The Asia Pacific region also has a significant presence of key players in the market, driving the growth of the market in this region.
Key Players
Corbion, Cyanotech Corporation, Roquette Frères, Earthrise Nutritional, Far East Bio-Tec Co Ltd, Algatechnologies Ltd, Algenuity, Cellana Inc, Allmicroalgae, Parry Nutraceuticals, Atacama Bio Natural Products SA, etc.
Market Taxonomy
By Type
• Microalgae
• Macroalgae
By Application
• Food & Beverages
• Dietary Supplements
• Animal Feed
• Cosmetics
• Personal Care Products
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Key Questions Addressed by the Report
• What are the key opportunities in the Global Algae Protein Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have the highest growth?
• What are the factors that will impact/drive the market?
• What is the competitive landscape in the industry?
• What is the role of key players in the value chain?
Global Algae Protein Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Algae Protein Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to Recent Energy Crisis
4.2.5 Cumulative Impact due to Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply & Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Algae Protein Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Algae Protein Market Share Analysis, By Type
5.3 Global Algae Protein Market Size and Forecast, By Type
5.3.1 Microalgae
5.3.2 Macroalgae
6 Global Algae Protein Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Algae Protein Market Share Analysis, By Application
6.3 Global Algae Protein Market Size and Forecast, By Application
6.3.1 Food & Beverages
6.3.2 Dietary Supplements
6.3.3 Animal Feed
6.3.4 Cosmetics
6.3.5 Personal Care Products
7 Global Algae Protein Market, By Region
7.1 Global Algae Protein Market Share Analysis, By Region
7.2 Global Algae Protein Market Size and Forecast, By Region
7.3 Global Algae Protein Market Trends and Forecast, By Region
8 North America Algae Protein Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Algae Protein Market Share Analysis, By Type
8.3 North America Algae Protein Market Size and Forecast, By Application
8.4 North America Algae Protein Market Size and Forecast, By Country
8.4.1 U.S.
8.4.1.1 Market Size and Forecast, By Type
8.4.1.2 Market Size and Forecast, By Application
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Type
8.4.2.2 Market Size and Forecast, By Application
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Type
8.4.3.2 Market Size and Forecast, By Application
9 Europe Algae Protein Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Algae Protein Market Share Analysis, By Type
9.3 Europe Algae Protein Market Size and Forecast, By Application
9.4 Europe Algae Protein Market Size and Forecast, By Country
9.4.1 Germany
9.4.1.1 Market Size and Forecast, By Type
9.4.1.2 Market Size and Forecast, By Application
9.4.2 France
9.4.2.1 Market Size and Forecast, By Type
9.4.2.2 Market Size and Forecast, By Application
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Type
9.4.3.2 Market Size and Forecast, By Application
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Type
9.4.4.2 Market Size and Forecast, By Application
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Type
9.4.5.2 Market Size and Forecast, By Application
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Type
9.4.6.2 Market Size and Forecast, By Application
9.4.7 Rest of Europe
9.4.7.1 Market Size and Forecast, By Type
9.4.7.2 Market Size and Forecast, By Application
10 Asia Pacific Algae Protein Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Algae Protein Market Share Analysis, By Type
10.3 Asia Pacific Algae Protein Market Size and Forecast, By Application
10.4 Asia Pacific Algae Protein Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Type
10.4.1.2 Market Size and Forecast, By Application
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Type
10.4.2.2 Market Size and Forecast, By Application
10.4.3 India
10.4.3.1 Market Size and Forecast, By Type
10.4.3.2 Market Size and Forecast, By Application
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Type
10.4.4.2 Market Size and Forecast, By Application
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Type
10.4.5.2 Market Size and Forecast, By Application
10.4.6 New Zealand
10.4.6.1 Market Size and Forecast, By Type
10.4.6.2 Market Size and Forecast, By Application
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Type
10.4.7.2 Market Size and Forecast, By Application
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Type
10.4.8.2 Market Size and Forecast, By Application
10.4.9 Rest of Asia
10.4.9.1 Market Size and Forecast, By Type
10.4.9.2 Market Size and Forecast, By Application
11 Latin America Algae Protein Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Algae Protein Market Share Analysis, By Type
11.3 Latin America Algae Protein Market Size and Forecast, By Application
11.4 Latin America Algae Protein Market Size and Forecast, By Country
11.4.1 Brazil
11.4.1.1 Market Size and Forecast, By Type
11.4.1.2 Market Size and Forecast, By Application
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Type
11.4.2.2 Market Size and Forecast, By Application
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Type
11.4.3.2 Market Size and Forecast, By Application
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Type
11.4.4.2 Market Size and Forecast, By Application
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Type
11.4.5.2 Market Size and Forecast, By Application
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Type
11.4.6.2 Market Size and Forecast, By Application
11.4.7 Rest of Latin America
11.4.7.1 Market Size and Forecast, By Type
11.4.7.2 Market Size and Forecast, By Application
12 Middle East Algae Protein Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Algae Protein Market Share Analysis, By Type
12.3 Middle East Algae Protein Market Size and Forecast, By Application
12.4 Middle East Algae Protein Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.1.1 Market Size and Forecast, By Type
12.4.1.2 Market Size and Forecast, By Application
12.4.2 UAE
12.4.2.1 Market Size and Forecast, By Type
12.4.2.2 Market Size and Forecast, By Application
12.4.3 Egypt
12.4.3.1 Market Size and Forecast, By Type
12.4.3.2 Market Size and Forecast, By Application
12.4.4 Kuwait
12.4.4.1 Market Size and Forecast, By Type
12.4.4.2 Market Size and Forecast, By Application
12.4.5 South Africa
12.4.5.1 Market Size and Forecast, By Type
12.4.5.2 Market Size and Forecast, By Application
12.4.6 Rest of Middle East & Africa
12.4.6.1 Market Size and Forecast, By Type
12.4.6.2 Market Size and Forecast, By Application
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Corbion
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Cyanotech Corporation
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Roquette Frères
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Earthrise Nutritional
14.4.1 Overview
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Far East Bio-Tec Co Ltd
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Algatechnologies Ltd
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Algenuity
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Cellana Inc
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Allmicroalgae
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Parry Nutraceuticals
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
14.11 Atacama Bio Natural Products SA
14.11.1 Overview
14.11.2 Offerings
14.11.3 Key Financials
14.11.4 Business Segment & Geographic Overview
14.11.5 Key Market Developments
14.11.6 Key Strategies
