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Algae Proteins - Global Market Trajectory & Analytics

  • ID: 5029927
  • Report
  • February 2022
  • Region: Global
  • 510 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Corbion N.V.
  • Cyanotech Corporation
  • Duplaco B.V.
  • ENERGYbits Inc.
  • Heliae Development, LLC
  • NP Nutra

Global Algae Proteins Market to Reach $1.1 Billion by 2026


Alternative proteins are likely to benefit from increasing popularity of protein bars and snacks among health-conscious individuals. The increasing shift away from beef towards beans is driving manufacturers to offer algal protein-based options at affordable price points. Algal proteins are known for their numerous health benefits over their animal-based counterparts. Based on its disease-fighting properties due to the presence of phytonutrients and fiber, spirulina is enjoying mainstream presence as functional food ingredient and natural food colorant. The popularity of plant-based proteins is encouraging manufacturers to exploit phytoplankton and chlorella as key strains. On the flip side, plant proteins often lack specific essential amino acids needed for growth of the body. In addition, researchers are yet to fully understand bioavailability and digestibility of algal proteins. These factors point towards the need for more scientific evidence for demonstrating quality of products based on algal proteins. Amid the COVID-19 crisis, the global market for Algae Proteins estimated at US$771.3 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2026, growing at a CAGR of 6.6% over the analysis period. Spirulina, one of the segments analyzed in the report, is projected to record a 7.1% CAGR and reach US$698.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Chlorella segment is readjusted to a revised 6.1% CAGR for the next 7-year period.



The U.S. Market is Estimated at $221.4 Million in 2021, While China is Forecast to Reach $176.1 Million by 2026


The Algae Proteins market in the U.S. is estimated at US$221.4 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$176.1 Million by the year 2026 trailing a CAGR of 8.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 6.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.

The market is expected to be fuelled by continuing transition of consumers from animal-based towards plant-derived products. The trend is responsible for growing popularity of plant-based options such as soy and wheat proteins. However, rising incident of allergies related to soy and gluten is driving companies to shift their attention toward algal proteins. Algal proteins are anticipated to also gain from increasing availability of scientific validation related to the use of microalgae as proteins along with rising concerns over sustainability and carbon emissions. Apart from the environmental and vegan credentials, the primary driver of algae proteins is the demand for healthy food, owing to the increasing consciousness for healthy lifestyles. Health foods such as health drinks and functional beverages are increasing in popularity owing to their health benefits as well as their refreshing capabilities. Algae proteins such as chlorella find extensive application within health foods and functional beverages, driving the market for algae proteins across the globe. The demand from pharmaceutical and skin care industries is expected to drive demand for algae proteins in future. In addition to the protein content, algae proteins also offer multiple benefits including vitamins & minerals, as well as essential fatty acids such as Omega-3 and Omega-6, further driving the demand for algae proteins.

By Source, Freshwater Segment to Reach $743.7 Million by 2026


Freshwater algae are being extensively cultivated in artificial fresh water given the robust demand from the nutraceutical and food & feed industries. By Source, global Freshwater Segment is estimated at US$518.5 Million in 2020, and is projected to reach US$743.7 Million by 2026 reflecting a compounded annual growth rate of 6.1% over the analysis period 2020-2027. Europe constitutes the largest regional market for Freshwater segment, accounting for 30.6% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 8.3% over the analysis period, to reach US$133 Million by the close of the analysis period.

Select Competitors (Total 96 Featured) -

  • Allmicroalgae - Natural Products S.A.
  • Corbion N.V.
  • Cyanotech Corporation
  • Duplaco B.V.
  • Earthrise Nutritionals LLC
  • ENERGYbits Inc.
  • Far East Bio-Tec. Co., Ltd.
  • Heliae Development, LLC
  • NP Nutra
  • Parry Nutraceuticals Limited
  • Phycom B.V.
  • Roquette Klötze GmbH & Co. KG
  • Seagrass Tech Private Limited
Frequently Asked Questions about the Global Market for Algae Proteins

What is the estimated value of the Global Market for Algae Proteins?

The Global Market for Algae Proteins was estimated to be valued at $771.3 Million in 2020.

What is the growth rate of the Global Market for Algae Proteins?

The growth rate of the Global Market for Algae Proteins is 6.1%, with an estimated value of $1100.0 Million by 2026.

What is the forecasted size of the Global Market for Algae Proteins?

The Global Market for Algae Proteins is estimated to be worth $1100.0 Million by 2026.

Who are the key companies in the Global Market for Algae Proteins?

Key companies in the Global Market for Algae Proteins include Allmicroalgae, Natural Products S.A., Corbion N.V., Cyanotech Corporation, Duplaco B.V., Earthrise Nutritionals LLC, ENERGYbits Inc., Far East Bio and Heliae Development, LLC.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Corbion N.V.
  • Cyanotech Corporation
  • Duplaco B.V.
  • ENERGYbits Inc.
  • Heliae Development, LLC
  • NP Nutra

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Health Foods Buck the Trend of Reducing Consumer Spends Across a Multitude of Categories: US Per Store Average Growth in Sales of Health Foods March-June 2020 (In %)
  • An Introduction to Algae Protein
  • Estimated Protein Content in Select Food Sources (in % of Dry Matter)
  • Health Benefits of Algal Proteins
  • Increasing Attention on Plant-derived Proteins
  • Algae as a Sustainable Alternative
  • Algae: Showing Potential for Food Applications
  • Overwhelming Demand for Alternative Protein Sources Makes Algal Proteins to Enjoy Center Stage Presence: An Outlook
  • Growth Drivers of Algae Proteins
  • Challenges
  • Product Types of Algae Protein: Spirulina and Chlorella Account for Majority of the Market
  • World Algae Protein Products Market: Percentage Breakdown (2020) of Revenues and % CAGR (2020-2027) for Spirulina, Chlorella, and Other Products
  • Sources of Algae Protein
  • World Algae Protein Products Market by Source (2020 & 2027): Percentage Breakdown of Revenues for Freshwater Algae Protein, and Marine Algae Protein
  • Analysis by Application: Dietary Supplements Account for the Largest Share
  • World Algae Protein Products Market by Application (2020 & 2027): Percentage Breakdown of Revenues for Dietary Supplements, Food Products, Animal Feed, and Other Applications
  • Regional Analysis: Europe and North America Lead the Algae Protein Market
  • World Algae Protein Products Market (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • World Algae Protein Products Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
  • Competitive Scenario: Exciting Algae-Oriented Developments
  • Recent Market Activity
  • Product of Select Leading Companies in Algae Protein Market
  • Algae Proteins - Global Key Competitors Percentage Market Share in 2022 (E)
  • Algae Proteins Competitor Market Share Scenario Worldwide (in %): 2020E
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Changing Protein Consumption Worldwide
  • Food Needs of Expanding Global Population Improve Market Prospects
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
  • Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
  • Algae Proteins in Dietary Supplements
  • World Dietary Supplements Market Revenues (in %) by Form for the Year 2019
  • Growing Image of Algae as a Smarter Source of Protein Bodes Well
  • Algae Proteins Gain Traction in Food Products
  • Food Companies Taking Notice of Algae for Future Food Applications
  • Algae in Animal Feed Applications
  • World Animal Feed Market Revenues (in %) by Livestock Type for the Year 2019
  • Algaculture Trends Favor Growth
  • Seaweed Production Grows
  • Rising Production of Microalgae
  • New Algal Protein Based Food Products Augurs Well
  • Consumer Focus on Natural Ingredients & Clean Label

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Healthy Growth Outlook for US Algae Protein Market
  • Demand for Protein-Based Foods Bodes Well for Algae Protein Market
  • Aging Population: A Prime Target for Algae Protein Product Makers
  • Population of 65+ Age Group (in Thousands) in the US for 2019 and 2030

CANADA

  • COVID-19 Pandemic to Accelerate the Demand

JAPAN

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Algae Protein Market in China: An Overview

EUROPE

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Europe: A Mature Algae Protein Market
  • Innovative Health Trends Drive Demand for Protein-Rich Functional Ingredients
  • Changing Demographics Propel Market Growth
  • European Population By Age Group (2020 & 2040): Percentage Share Breakdown of Age Groups 0-19, 20-39, 40-59, 60-79, and 80+

FRANCE

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Algae Proteins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 96
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Allmicroalgae - Natural Products S.A.
  • Corbion N.V.
  • Cyanotech Corporation
  • Duplaco B.V.
  • Earthrise Nutritionals LLC
  • ENERGYbits Inc.
  • Far East Bio-Tec. Co., Ltd.
  • Heliae Development, LLC
  • NP Nutra
  • Parry Nutraceuticals Limited
  • Phycom B.V.
  • Roquette Klötze GmbH & Co. KG
  • Seagrass Tech Private Limited
Note: Product cover images may vary from those shown