The Europe algae protein market was valued 73.44 million USD in 2016 and is expected to register a CAGR of 6.05%, during the forecasted period of 2018-2023. The European market accounts for the highest percentage share of the global algae protein market. The protein-rich algae deliver protein, along with a rich collection of fiber, healthy lipids¹ and micronutrients. A research conducted in 2016 shows that three out of five German consumers either have tried or would like to try algae as a protein source. This is the factor that is driving the European algae protein market.
The gaining popularity of protein-rich whole algae can be credited to the uniqueness of the same among plant-based proteins. 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 total population is 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 in Europe.
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. It accounted for the largest market share with 41% of the total European algae protein market share in 2016. Spirulina and Chlorella are also sold as functional foods due to their high vitamin and mineral content, and since they are generally regarded as safe by FAA. Chlorella is likely to account for higher growth rate during the forecast period owing to increasing functional ingredientsdemand and enhancing instinctive health function.
The German algae protein market accounted for a share of 28% of the European algae protein market. The region is expected to witness moderate-to-high growth rate during the forecast period, with the approval of production of algal ingredients as food supplements. The inclusion of algae proteins in various applications, such as, food & beverage, animal feed and sports nutrition in the region, enables it to gain the maximum market share in the European region.
Key Developments in the Market
- November 2015 - Nutress revealed that it has entered into a new partnership with speciality ingredients distributor Azelis, which will see high-quality algae brought to market in Belgium, the Netherlands and Luxembourg (Benelux).
- November 2015 - Portugal-based Allmicroalgae announced that it is the new supplier of Allma Chlorella and unveiled plans for a significant new phase of investment in its production facilities.
Reasons to Purchase this Report
- Analyzing outlook of the market with the recent trends and Porters five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
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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 in Regular Diet
4.1.2 Rise in Health Awareness among Consumers
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
6.1.4 Rest of Europe
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
- 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