South American Algae Protein Market - Growth, Trends, and Forecast (2020 - 2025)

South America Algae Protein Market is anticipated to register a CAGR of 4.5%, during the forecast period (2020 - 2025).

• The South American countries are witnessing growing urbanization and changing lifestyles due to globalization. Consumers are ready to pay for health and wellness products, which is driving the growth of proteins.
• High nutritional value, and the increasing popularity of naturally derived food products and health supplements, due to the increasing number of health-conscious consumers, and constant growth in population, are some of the major drivers for the algae protein market.

Key Market Trends

Spirulina is Witnessing A Significant Growth

Spirulina is rich in chlorophyll, phycocyanin, and beta-carotene and is often used as a source of natural color. Edible color Linablue, used in ice creams and confectionaries, is mainly produced from spirulina. The growing demand for natural and clean label ingredients has recreated a demand for spirulina protein. Stringent regulations and limitations od synthetic additives have opened the gates for the demand for natural ingredients. Based on the application areas, nutraceuticals and food sectors are expected to be promising end-users of spirulina, due to the rapid development of algae-based superfoods, heightened consumer’s interest toward natural & clean-label products.

Brazil Dominates The Market

Brazil Algae Protein market size was estimated to be equating to the major share 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 growing usage of algal ingredients in food supplements.

The demand for natural food products is increasing among health-conscious consumers. This has resulted in the tremendous growth of the algae protein market. The market is largely driven by increased Research & Development and innovations in the algae protein market. Consumer preference for natural ingredients and the varied applications of algae protein in the food and beverage industry are some of the reasons for the uptick in demand.

Competitive Landscape

South America algae protein market is competitive in nature having a large number of small and large players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers.

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