The global algae protein market is expected to grow at a CAGR of 6.85% to reach a total market size of US$886.802 million by 2024, increasing from US$596.027 million in 2018. The growing global population is increasing the demand for protein worldwide as a result of which sustainable plant-based protein sources are gaining popularity to meet the growing global demand for protein-rich food. The demand for algae protein is augmenting on account of high protein content in algae as compared to that in other plant-based protein sources including soy and pea.
According to the Environmental Working Group (EWG), the production, processing, and distribution of meat results in the high usage of pesticides, fertilizer, feed, fuel, and water while releasing greenhouse gases in the environment. As a result of the negative environmental impact of meat consumption, there is a growing shift towards alternative sources of protein, thereby positively impacting the growth of the global algae protein market. However, factors such as the high cost of extracting protein from algae and the availability of cheap substitutes in abundance will hamstring the growth of global algae protein market during the forecast period.
Research Methodology
The report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Market Dynamics
This section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of algae protein. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.
Segmentation
The global algae protein market is segmented by type, end-user, and geography.
By Type
By End-User
By Geography
According to the Environmental Working Group (EWG), the production, processing, and distribution of meat results in the high usage of pesticides, fertilizer, feed, fuel, and water while releasing greenhouse gases in the environment. As a result of the negative environmental impact of meat consumption, there is a growing shift towards alternative sources of protein, thereby positively impacting the growth of the global algae protein market. However, factors such as the high cost of extracting protein from algae and the availability of cheap substitutes in abundance will hamstring the growth of global algae protein market during the forecast period.
Research Methodology
The report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Market Dynamics
This section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of algae protein. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.
Segmentation
The global algae protein market is segmented by type, end-user, and geography.
By Type
- Spirulina
- Chlorella
- Seaweed
- Others
By End-User
- Dietary Supplements
- Food Items
- Animal Feed
- Pharmaceutical
- Cosmetics and Personal Care
By Geography
- North America
- South America
- Europe
- Middle East and Africa
- Asia Pacific
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
4. MARKET DYNAMICS
5. GLOBAL ALGAE PROTEIN MARKET FORECAST BY TYPE
6. GLOBAL ALGAE PROTEIN MARKET FORECAST BY END-USER
7. GLOBAL ALGAE PROTEIN MARKET FORECAST BY GEOGRAPHY
8. COMPETITIVE INTELLIGENCE
9. COMPANY PROFILES
Companies Mentioned
- Corbion Biotech, Inc.
- Nutrex Hawaii
- Cyanotech Corporation
- Earthrise Nutritional
- Far East Bio-Tec Co., Ltd.
- Algatechnologies Ltd.
- Phycom Microalgae.
Methodology
LOADING...
