Product Code: 4550
The global algae protein market is expected to grow at a substantial rate through 2028 owing to increasing adoption in nutraceuticals and food & beverage products due to its high nutritional value.
Algae is gaining much traction as a source of alternative protein primarily on account of the increasing presence of companies in the sector. In recent years, both established and newer entrants in the market have been focusing on product development in order to extend their consumer reach, thereby enhancing overall market dynamics.
In March 2022, Nestle, the Swiss food and beverage giant, expanded its plant-based offerings with a new agreement with Corbion, the Dutch chemicals firm. The two intended to collaborate on the development of microalgae-based components that could be added to animal-free foods to increase nutrition, taste, and product sustainability.
The algae protein market has been categorized in terms of source, dosage form, application, and region. Based on source, the industry has been segmented into seaweed and microalgae.
Under seaweed, the market has been further divided into brown algae, green algae, and red algae. The brown algae source segment is slated to expand at a sturdy CAGR of around 5.8% by 2028. The green algae segment is anticipated to grow at approximately 6.7% CAGR over the review timeline. Moreover, the red seaweed algae segment is speculated to observe an optimistic CAGR of over 5% through the study timeframe.
The microalgae segment is expected to proliferate at above 6.5% CAGR over the forecast years. Under microalgae, the market has been further bifurcated into green algae (chlorella), blue-green algae (spirulina), and others. The others segment, which includes Bacillariophyceae, Chlorophyceae, Dunaliella Salina, and Aphanizomenon flos-aquae, is slated to experience robust growth at a CAGR of above 5.9% through the projected period.
With respect to dosage form, the global algae protein market has been segmented into liquid, capsules, powder, and others. The others segment is speculated to register a sturdy CAGR of around 4.3% through 2028. Other dosage forms of algae protein include paste and tablets.
On the basis of application, the global algae protein industry has been bifurcated into food & beverage, dietary supplements, animal feed, cosmetics, and others. Among these, the animal feed segment is set to develop at approximately 6% CAGR over the review timeframe. The others segment, which involves aquaculture and pet food, is anticipated to expand at a CAGR of above 5% through 2028.
Under food & beverage, the market has been divided into bakery & confectionary, protein drink, breakfast cereals, snacks, and others. The bakery & confectionary segment is poised to grow at around 6.5% CAGR over the study timespan. The breakfast cereals segment is projected to observe significant expansion at around 6.3% CAGR over the review timeline. The snacks segment is primed to expand substantially at a CAGR of more than 6.2% by 2028.
The others food & beverage segment is estimated to showcase strong growth at roughly 3.5% CAGR through the analysis period. Other applications of algae protein in the food & beverage sector comprises dairy products and sauces & dressings.
From the regional standpoint, the Latin America algae protein industry is set to exhibit a positive CAGR of more than 6.5% through 2028. Furthermore, the Middle East & Africa algae protein market is expected to expand at a robust CAGR of nearly 5% between 2022 and 2028.
Table of Contents
Chapter 1 Research Methodology
- 1.1 Market definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculations
- 1.4 Data Sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid Sources
- 1.4.2.2 Public Sources
Chapter 2 Executive Summary
- 2.1 Algae protein market industry 360 degree synopsis, 2017 - 2028
- 2.1.1 Business trends
- 2.1.2 Source trends
- 2.1.3 Dosage Form trends
- 2.1.4 Application trends
- 2.1.5 Regional trends
Chapter 3 Algae Protein Industry Insights
- 3.1 Industry segmentation
- 3.2 Industry ecosystem analysis
- 3.2.1 Distribution channel analysis
- 3.2.1.1 Collaboration/Partnership
- 3.2.1.2 Distributors
- 3.2.1.3 Technology Providers
- 3.3 Vendor matrix
- 3.4 Consumer buying behaviour
- 3.4.1 Unmet needs
- 3.4.2 Information search
- 3.4.3 Evaluation of alternatives
- 3.4.4 Purchase decision
- 3.4.5 Post purchase behaviour
- 3.4.6 Impact of COVID-19 on consumer buying behaviour
- 3.5 Technology landscape
- 3.5.1 Algae protein extraction
- 3.5.1.1 Characteristics of algae
- 3.5.1.2 Protein extraction methods
- 3.5.1.2.1 Conventional protein extraction methods
- 3.5.1.2.2 Enzymatic Hydrolysis
- 3.6 Raw material analysis
- 3.6.1 Microalgae
- 3.6.2 Seaweed
- 3.6.3 COVID - 19 impacts on raw material supply
- 3.7 Cost structure analysis
- 3.7.1 Fixed capital estimation cost
- 3.8 Regulatory landscape
- 3.8.1 U.S.
- 3.8.1.1 TITLE 21 - FOOD AND DRUG ADMINISTRATION, CHAPTER I PART 73 - Listing of color additives
- 3.8.2 European Union
- 3.8.2.1 Microbiological Criterion
- 3.8.2.2 Regulation (EC) No 852/2004
- 3.8.2.2.1 Hygiene of Foodstuffs
- 3.8.2.1 Ethoxyquin ban in the EU
- 3.9 Pricing analysis
- 3.9.1 Regional pricing (Price USD/kg)
- 3.9.2 Effect of COVID-19 on algae protein prices
- 3.10 Industry impact forces
- 3.10.1 Growth drivers
- 3.10.1.1 North America: Government initiatives to boost algae products production
- 3.10.1.2 Obligation to maintain animal feed quality
- 3.10.1.3 Europe: Widening demand for nutritional products
- 3.10.1.4 Increasing exports has led to rise in manufacturing of cosmetic products which is likely to drive product demand
- 3.10.1.5 Asia Pacific: Increasing consumption of protein supplements
- 3.10.2 Industry pitfalls & challenges
- 3.10.2.1 Presence of other protein-based food products
- 3.11 Innovation & Sustainability
- 3.11.1 Sustainable Protein - Danish Food Innovation
- 3.11.2 Plantsy - Algae Protein Drink
- 3.12 Growth potential analysis, 2021
- 3.12.1 Emerging business model
- 3.12.1.1 Collaboration/Joint ventures
- 3.12.1.2 Acquisitions
- 3.12.1.3 New product launches
- 3.13 Porter's analysis
- 3.13.1 Bargaining power of suppliers
- 3.13.2 Bargaining power of buyers
- 3.13.3 Threat of new entrants
- 3.13.4 Threat of substitutes
- 3.14 Competitive landscape
- 3.14.1 Company market share analysis, 2021
- 3.14.2 Strategy dashboard
- 3.15 PESTEL analysis
- 3.16 COVID-19 impact on algae protein market, by application
- 3.16.1 Dietary supplements
- 3.16.2 Food & beverages
- 3.16.2.1 Bakery and confectionery
- 3.16.2.2 Protein Drinks
- 3.16.2.3 Breakfast cereals
- 3.16.2.4 Snacks
- 3.16.2.5 Others
- 3.16.3 Animal feed
- 3.16.4 Cosmetics
- 3.16.5 Others
- 3.17 COVID-19 overview on world economy
Chapter 4 Algae Protein Market, By Source
- 4.1 Key source trends
- 4.2 Seaweed
- 4.2.1 Global seaweed algae protein market estimates and forecasts, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.2.2 Global seaweed algae protein market estimates and forecast, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.2.3 Brown Algae
- 4.2.3.1 Global brown algae protein market estimates and forecasts, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.2.3.2 Global brown algae protein market estimates and forecasts, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.2.4 Green Algae
- 4.2.4.1 Global green algae protein market estimates and forecasts, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.2.4.2 Global green algae protein market estimates and forecasts, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.2.5 Red Algae
- 4.2.5.1 Global red algae protein market estimates and forecasts, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.2.5.2 Global red algae protein market estimates and forecasts, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.3 Microalgae
- 4.3.1 Global microalgae protein market estimates and forecasts, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.3.2 Global microalgae protein market estimates and forecast, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.3.3 Blue-Green Algae (Spirulina)
- 4.3.3.1 Global algae protein market estimates and forecasts from blue-green algae sources, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.3.3.2 Global algae protein market estimates and forecast from blue-green algae sources, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.3.4 Green Algae (Chlorella)
- 4.3.4.1 Global algae protein market estimates and forecasts from green algae sources, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.3.4.2 Global algae protein market estimates and forecast from green algae sources, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.3.5 Other
- 4.3.5.1 Global algae protein market estimates and forecasts from other sources, 2017 - 2028, (Kilo Tons) (USD Million)
- 4.3.5.2 Global algae protein market estimates and forecast from other sources, by region, 2017 - 2028, (Kilo Tons) (USD Million)
Chapter 5 Global Algae Protein Market, By Dosage Form
- 5.1 Key dosage form trends
- 5.2 Capsules
- 5.2.1 Global capsules algae protein market,2017 - 2028, (Kilo Tons) (USD Million)
- 5.2.2 Global capsules algae protein market, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 5.3 Liquid
- 5.3.1 Global liquid algae protein market,2017 - 2028, (Kilo Tons) (USD Million)
- 5.3.2 Global liquid algae protein market, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 5.4 Powder
- 5.4.1 Global powder algae protein market,2017 - 2028, (Kilo Tons) (USD Million)
- 5.4.2 Global powder algae protein market, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 5.5 Others
- 5.5.1 Global others algae protein market,2017 - 2028, (Kilo Tons) (USD Million)
- 5.5.2 Global others algae protein market, by region, 2017 - 2028, (Kilo Tons) (USD Million)
Chapter 6 Global Algae Protein Market, By Application
- 6.1 Key application trends
- 6.2 Dietary Supplements
- 6.2.1 Global algae protein market from dietary supplements application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.2.2 Global algae protein market from dietary supplements application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 6.3 Food & beverages
- 6.3.1 Global algae protein market from food & beverages application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.2 Global algae protein market from food & beverages application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.3 Bakery & confectionery
- 6.3.3.1 Global algae protein market from bakery & confectionery application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.3.2 Global algae protein market from bakery & confectionery application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.4 Protein drinks
- 6.3.4.1 Global algae protein market from protein drinks application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.4.2 Global algae protein market from protein drinks application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.5 Breakfast cereals
- 6.3.5.1 Global algae protein market from breakfast cereals application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.5.2 Global algae protein market from breakfast cereals application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.6 Snacks
- 6.3.6.1 Global algae protein market from snacks application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.6.2 Global algae protein market from snacks application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.7 Others
- 6.3.7.1 Global algae protein market from other application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.3.7.2 Global algae protein market from other application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 6.4 Animal feed
- 6.4.1 Global algae protein market from animal feed application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.4.2 Global algae protein market from animal feed application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 6.5 Cosmetics
- 6.5.1 Global algae protein market from cosmetics application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.5.2 Global algae protein market from cosmetics application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
- 6.6 Others
- 6.6.1 Global algae protein market from others application,2017 - 2028, (Kilo Tons) (USD Million)
- 6.6.2 Global algae protein market from others application, by region, 2017 - 2028, (Kilo Tons) (USD Million)
Chapter 7 Global Algae Protein Market, By Region
- 7.1 Key regional trends
- 7.2 North America
- 7.2.1 North America algae protein market,2017 - 2028, (Kilo Tons) (USD Million)
- 7.2.2 North America algae protein market estimates and forecast, by source, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.2.3 North America algae protein market estimates and forecast, by dosage form, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.2.4 North America algae protein market estimates and forecast, by application, 2017 - 2028, (Kilo Tons) (USD Million)
Similar information is provided for
- 7.2.5 U.S.
- 7.2.6 Canada
- 7.2.7 Mexico
- 7.3 Europe
- 7.3.1 Europe algae protein market,2017 - 2028, (Kilo Tons) (USD Million)
- 7.3.2 Europe algae protein market estimates and forecast, by source, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.3.3 Europe algae protein market estimates and forecast, by dosage form, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.3.4 Europe algae protein market estimates and forecast, by application, 2017 - 2028, (Kilo Tons) (USD Million)
Similar information is provided for
- 7.3.5 Germany
- 7.3.6 UK
- 7.3.7 France
- 7.3.8 Spain
- 7.3.9 Italy
- 7.3.10 Russia
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific algae protein market,2017 - 2028, (Kilo Tons) (USD Million)
- 7.4.2 Asia Pacific algae protein market estimates and forecast, by source, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.4.3 Asia Pacific algae protein market estimates and forecast, by dosage form, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.4.4 Asia Pacific algae protein market estimates and forecast, by application, 2017 - 2028, (Kilo Tons) (USD Million)
Similar information is provided for
- 7.4.5 China
- 7.4.6 India
- 7.4.7 Japan
- 7.4.8 Australia
- 7.4.9 South Korea
- 7.4.10 Malaysia
- 7.5 Latin America (LATAM)
- 7.5.1 LATAM algae protein market,2017 - 2028, (Kilo Tons) (USD Million)
- 7.5.2 LATAM algae protein market estimates and forecast, by source, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.5.3 LATAM algae protein market estimates and forecast, by dosage form, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.5.4 LATAM algae protein market estimates and forecast, by application, 2017 - 2028, (Kilo Tons) (USD Million)
Similar information is provided for
- 7.6 Middle East & Africa (MEA)
- 7.6.1 MEA algae protein market,2017 - 2028, (Kilo Tons) (USD Million)
- 7.6.2 MEA algae protein market estimates and forecast, by source, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.6.3 MEA algae protein market estimates and forecast, by dosage form, 2017 - 2028, (Kilo Tons) (USD Million)
- 7.6.4 MEA algae protein market estimates and forecast, by application, 2017 - 2028, (Kilo Tons) (USD Million)
Similar information is provided for
- 7.6.5 Saudi Arabia
- 7.6.6 UAE
- 7.6.7 South Africa
Chapter 8 Company Profile
- 8.1 Heliae Development LLC.
- 8.1.1 Business Overview
- 8.1.2 Financial Data
- 8.1.3 Product Landscape
- 8.1.4 SWOT Analysis
- 8.1.5 Strategic Outlook
- 8.2 ENERGYbits Inc.
- 8.2.1 Business Overview
- 8.2.2 Financial Data
- 8.2.3 Product Landscape
- 8.2.4 SWOT Analysis
- 8.3 Far East Bio-Tec Co., Ltd. (FEBICO)
- 8.3.1 Business Overview
- 8.3.2 Financial Data
- 8.3.3 Product Landscape
- 8.3.4 SWOT Analysis
- 8.4 Roquette Klotze GmbH & Co. KG
- 8.4.1 Business Overview
- 8.4.2 Financial Data
- 8.4.3 Product Landscape
- 8.4.4 SWOT Analysis
- 8.5 Nutrex Hawaii Inc.
- 8.5.1 Business Overview
- 8.5.2 Financial Data
- 8.5.3 Product Landscape
- 8.5.4 SWOT Analysis
- 8.5.5 Strategic Outlook
- 8.6 Corbion NV
- 8.6.1 Business Overview
- 8.6.2 Financial Data
- 8.6.3 Product Landscape
- 8.6.4 Swot Analysis
- 8.6.5 Strategic Outlook
- 8.7 Allmicroalgae
- 8.7.1 Business Overview
- 8.7.2 Financial Data
- 8.7.3 Product Landscape
- 8.7.4 SWOT Analysis
- 8.8 E.I.D. Parry (India) Limited
- 8.8.1 Business Overview
- 8.8.2 Financial Data
- 8.8.3 Product Landscape
- 8.8.4 SWOT Analysis
- 8.9 Earthrise Nutritionals LLC. (DIC Corporation)
- 8.9.1 Business Overview
- 8.9.2 Financial Data
- 8.9.3 Product Landscape
- 8.9.4 SWOT Analysis
- 8.10 Phycom Microalgae
- 8.10.1 Business Overview
- 8.10.2 Financial Data
- 8.10.3 Product Landscape
- 8.10.4 SWOT Analysis
- 8.10.5 Strategic Outlook
- 8.11 Cyanotech Corporation
- 8.11.1 Business Overview
- 8.11.2 Financial Data
- 8.11.3 Product Landscape
- 8.11.4 SWOT Analysis
- 8.12 Yunnan Green A Biological Project Co., Ltd.
- 8.12.1 Business Overview
- 8.12.2 Financial Data
- 8.12.3 Product Landscape
- 8.12.4 SWOT Analysis
- 8.13 JUNE Group of Companies (JUNE Spirulina)
- 8.13.1 Business Overview
- 8.13.2 Financial Data
- 8.13.3 Product Landscape
- 8.13.4 SWOT Analysis
- 8.14 Fuqing King Dnarmsa Spirulina Co., Ltd.
- 8.14.1 Business Overview
- 8.14.2 Financial Data
- 8.14.3 Product Landscape
- 8.14.4 SWOT Analysis
- 8.15 Prolgae Spirulina Supplies Pvt. Ltd.
- 8.15.1 Business Overview
- 8.15.2 Financial Data
- 8.15.3 Product Landscape
- 8.15.4 SWOT Analysis
- 8.16 Euglena Co Ltd
- 8.16.1 Business Overview
- 8.16.2 Financial Data
- 8.16.3 Product Landscape
- 8.16.4 SWOT Analysis
- 8.16.5 Strategic Outlook