The South America algae protein market was valued USD 19.44 million in 2016 and expected to reach 29.56 million USD by 2023 registering a CAGR of 6.17%, during the forecasted period 2018-2023. Along with protein, protein-rich algae deliver a rich collection of fiber, healthy lipids, and micronutrients. A research conducted in 2016 shows that three out of five consumers either have tried, or would like to try algae as a protein source. This is driving the algae protein market in South America.
The increasing popularity of protein-rich whole algae can be credited to the uniqueness of the same among plant-based proteins. Protein-rich algae is a whole food ingredient containing over 60% vegan protein, along with a rich collection of fiber, lipids, and micronutrients. Algae protein is free of known allergens, gluten, GMO, and has a neutral flavor profile and texture, making it a great option for fortifying food products that meet current consumer demand. A recent research demonstrates that nearly 30% of the Americans are consuming more non-animal sources of protein. The growing trend toward plant-based algae proteins is due to the increasing popularity of vegetarian and vegan diets, and the demand for allergen-free protein sources.
Chlorella is the segment that accounted for more than 39% of the total South American market in 2016. Spirulina and Chlorella are also sold as functional foods because of their high vitamin and mineral content, and because they have been declared safe by the FAA. Chlorella is likely to account for higher growth rate during the forecast period owing to increasing demand for functional ingredients and enhancing instinctive health function. Chlorella is a spherical member of the green algae that has seen increased popularity as a food supplement in recent times. Chlorella vulgaris is the most commonly exploited industry species due to its high protein content of 51%–58% dry weight and favorable essential amino acid composition.
Brazil Algae Protein market size was estimated to be equating to a share of 32% in 2016 of the South American algae protein market. The region is expected to witness moderate to high growth rate during the forecast period, owing to the approval for production of algal ingredients as food supplements.
- March 2015 - Nutress BV, a global leader in producing large scale food grade micro algae products for the feed, food, and pharma industry launched its second algae strain Chlorella vulgaris.
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- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
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1.1 Key Findings of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Methodology
3. Market Overview
3.1 Market Trends
4. Market Dynamics
4.1.1 Growing Demand for Algae Products from the Nutraceuticals and Pharmaceutical Industries
4.1.2 Rise in Health Awareness among Consumers
4.1.3 Growing Demand for Effective Anti-microbial Agent
4.2.1 Presence of Various Other Vegan Proteins
4.3.1 Aquaculture Offering High Market Potential
4.3.2 Emerging Demand for Plant Protein
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Type
5.2 By Application
5.2.1 Dietary Supplements
5.2.2 Food Products
5.2.3 Animal Feed
5.2.4 Sports Nutrition
6. By Geography
6.1 South America
6.1.3 Rest of South America
7. Competitive Landscape
7.1 Strategy Adopted by Key Players
7.2 Most Active Companies in the Past Five Years
7.3 Market Share Analysis
8. Company Profiles
8.2 Corbion Biotech Inc.
8.3 Cyanotech Corporation
8.4 Earth Rise Nutritionals
8.6 Far East Bio-Tech Co.
8.7 Heliae Development LLC
8.10 Nutrex Hawaii Inc.
8.11 Plant Head
8.12 Rainbow Light Nutritional Systems
8.14 TerraVia Holdings Inc.
- Corbion Biotech Inc.
- Cyanotech Corporation
- Earth Rise Nutritionals
- Far East Bio-Tech Co.
- Heliae Development LLC
- Nutrex Hawaii Inc.
- Plant Head
- Rainbow Light Nutritional Systems
- TerraVia Holdings Inc.