+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Algae Proteins - Global Market Trajectory & Analytics

  • ID: 5029927
  • Report
  • April 2021
  • Region: Global
  • 510 pages
  • Global Industry Analysts, Inc
Algae are More Sustainable than Plant & Animal Protein Sources. Market to Reach $1.2Billion

The global market for Algae Proteins is projected to reach US$1.2 billion by the year 2027, trailing a post COVID-19 CAGR of 6.6% over the analysis period 2020 through 2027. As population continues to grow & availability of arable land declines, demand for alternative protein sources is poised to witness robust growth. Algae as a source of protein are environmentally sustainable as compared to crop & animal based sources. Algae can grow on any surface, irrespective of the fertility or type of soil. In addition, algae grow rapidly compared to other plants and also provide higher quantities of biomass for equivalent land use. Soy, presently one of the largest sources of plant protein, occupies a large portion of land for cultivation. Algae can be grown in a fraction of the land extent and provide more protein content. In addition, the waste by products after protein extraction can be used for aqua feed as well as a biomass for energy production. Moreover, algae production does not require huge inputs of fertilizers, which avoids multiple harmful effects of fertilizer usage thus ensuring sustainability. However, for algae proteins to emerge as a mainstream and robust market, systemic changes are required in terms of supply chains, consumer acceptance, costs, and demonstration of safety and finally consumer acceptance. Algae proteins such as spirulina and chlorella offer the highest amount of protein, and are increasingly being used by food manufacturers and processors to enhance the protein content in food. For instance spirulina consists of nearly double the amount of protein percentage compared to soy in terms of dry weight. A higher turnover than plants or animals means algae grows fast and can be harvested on a daily basis.

Seaweed and microalgae are emerging as popular algae based sources for protein. Alternative proteins are expected 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.

Algae have been conventionally consumed as vegetable and used in industrial applications in the Eastern and Western worlds, respectively. However, research has demonstrated that microalgae are loaded with proteins along with micronutrients like calcium, vitamins, polyphenols, iodine and carotenoids. Like various protein-rich vegetables such as soy beans, certain phyllum of algae such as red seaweeds contain high-quality proteins. These micronutrients are driving several players to consider microalgae for applications within the food industry. In addition, animal feed applications consume 30% of global algal production. A number of countries have approved specific algae as chicken feed, and don't require new approval or testing for feed applications. Researchers have also proposed effective and scalable approaches along with extraction methods related to functional proteins found in green alga Tetraselmis suecica. Biologically, algae are primarily segregated into seaweed and microalgae. While the former are complex multi-cellular organisms harboring in marine environments and salt water, microalgae represent single-celled, very small organisms capable of growing in diverse environmental conditions like alkalinity, pH, sunlight, competing ions and fertilizers. Various companies harvest seaweeds from the sea and import to other countries, especially France and Japan. While some of these products are used in food supplements or consumed directly, others are being investigated for use as feed additives, mainly in fish diets. In addition to conventional protein extraction methods such as enzymatic hydrolysis, physical processes & chemical extraction, novel technologies like ultrasound-assisted extraction, pulsed electric field & microwave-assisted extraction are growing in popularity.

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
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Exhibit 1: 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
  • Exhibit 2: 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
  • Exhibit 3: World Algae Protein Products Market: Percentage Breakdown (2020) of Revenues and % CAGR (2020-2027) for Spirulina, Chlorella, and Other Products
  • Sources of Algae Protein
  • Exhibit 4: 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
  • Exhibit 5: 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
  • Exhibit 6: World Algae Protein Products Market (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • Exhibit 7: 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
  • Exhibit 8: Product of Select Leading Companies in Algae Protein Market
  • Changing Protein Consumption Worldwide
  • Food Needs of Expanding Global Population Improve Market Prospects
  • Exhibit 9: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Exhibit 10: World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
  • Exhibit 11: Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
  • Algae Proteins in Dietary Supplements
  • Exhibit 12: 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
  • Exhibit 13: 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
III. MARKET ANALYSIS
  • 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
  • Exhibit 14: Population of 65+ Age Group (in Thousands) in the US for 2019 and 2030
  • COVID-19 Pandemic to Accelerate the Demand
  • Algae Protein Market in China: An Overview
  • Europe: A Mature Algae Protein Market
  • Innovative Health Trends Drive Demand for Protein-Rich Functional Ingredients
  • Changing Demographics Propel Market Growth
  • Exhibit 15: European Population By Age Group (2020 & 2040): Percentage Share Breakdown of Age Groups 0-19, 20-39, 40-59, 60-79, and 80+
IV. COMPETITION
  • Total Companies Profiled: 96
Note: Product cover images may vary from those shown
Adroll
adroll