Algae Protein Market Size - By Source (Seaweed (Brown Algae, Green Algae, Red Algae), Micro algae {Blue-Green Algae, Green Algae}), By Application (Dietary Supplements, Food & Beverage, Animal Feed, Cosmetics), Dosage Form & Forecast, 2024-2032

Description

Algae protein market size is set to record 5.4% CAGR during 2024-2032 driven by the rising demand for sustainable and alternative protein sources. As concerns about environmental sustainability and the impacts of traditional animal agriculture on the planet are growing, algae protein is gaining traction as an attractive alternative due to its lower environmental footprint. Algae cultivation practices also employ fewer resources, such as water and land, while producing minimal greenhouse gases compared to conventional livestock farming.

The increasing awareness of health and nutrition benefits associated with algae protein is also contributing to market expansion. Algae protein is rich in essential amino acids, vitamins, and minerals, further offering a highly nutritious supplement to conventional diets. Potential benefits in supporting various health aspects, such as immune function, digestive health, and muscle growth besides appealing to health-conscious consumers will add to the product demand. For instance, in April 2023, MiAlgae launched algae derived omega-3 product for aqua feed and pet food.

The algae protein industry is classified into source, dosage form, application, and region.

By source, the market size from the red algae segment is slated to gain momentum through 2032 due to its high nutritional value and versatility in various applications. Red algae, such as Spirulina and Chlorella, are rich in essential proteins, vitamins, and minerals, making them highly sought after for dietary supplements and functional foods. They also boast of an ability to provide a complete protein profile, along with beneficial compounds like antioxidants and omega-3 fatty acids, to cater to health-conscious consumers and those seeking plant-based protein sources.

Algae protein market from the animal feed application segment is anticipated to observe a significant CAGR during 2024 - 2032 owing to the increasing demand for sustainable and nutritious feed alternatives in livestock and aquaculture industries. Algae protein offers a high-quality, digestible source of protein that can enhance the growth and health of animals, making it an attractive option for feed manufacturers.

Asia Pacific algae protein industry will grow substantially between 2024 and 2032 attributed to the increasing focus on food security and the need for innovative agricultural practices to support the growing population. Rapid urbanization and dietary shifts towards more protein-rich foods in countries like China, India, and Japan are further creating a demand for alternative protein sources that can be produced efficiently and sustainably.

Product Code: 4550

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
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 Industry 360° synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Key manufacturers
- 3.1.2 Distributors
- 3.1.3 Profit margins across the industry
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 North America: Government initiatives to boost algae products production
  - 3.2.1.2 Obligation to maintain animal feed quality
  - 3.2.1.3 Europe: Widening demand for nutritional products
  - 3.2.1.4 Increasing exports has led to rise in manufacturing of cosmetic products which is likely to drive product demand
  - 3.2.1.5 Asia Pacific: Increasing consumption of protein supplements
- 3.2.2 Market challenges
  - 3.2.2.1 Presence of other protein-based food products
- 3.2.3 Market opportunity
  - 3.2.3.1 New opportunities
  - 3.2.3.2 Growth potential analysis
3.3 Raw material landscape
- 3.3.1 Manufacturing trends
- 3.3.2 Technology evolution
  - 3.3.2.1 Sustainable manufacturing
    - 3.3.2.1.1 Green practices
    - 3.3.2.1.2 Decarbonization
- 3.3.3 Sustainability in raw materials
- 3.3.4 Pricing trends (USD/Ton)
  - 3.3.4.1 North America
  - 3.3.4.2 Europe
  - 3.3.4.3 Asia Pacific
  - 3.3.4.4 Latin America
  - 3.3.4.5 Middle East & Africa
3.4 Regulations & market impact
3.5 Porter's analysis
3.6 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Size and Forecast, By Source, 2021-2032 (USD Million, Kilo Tons)

5.1 Key trends
- 5.1.1 Seaweed
- 5.1.2 Brown algae
- 5.1.3 Green algae
- 5.1.4 Red algae
5.2 Microalgae
- 5.2.1 Blue-Green algae (Spirulina)
- 5.2.2 Green algae (Chlorella)
- 5.2.3 Others

Chapter 6 Market Size and Forecast, By Dosage Form, 2021-2032 (USD Million, Kilo Tons)

6.1 Key trends
6.2 Capsules
6.3 Liquid
6.4 Powder
6.5 Others

Chapter 7 Market Size and Forecast, By Application, 2021-2032 (USD Million, Kilo Tons)

7.1 Key trends
7.2 Dietary supplements
7.3 Food & beverages
- 7.3.1 Bakery & confectionery
- 7.3.2 Protein drinks
- 7.3.3 Breakfast cereals
- 7.3.4 Snacks
- 7.3.5 Others
7.4 Animal feed
7.5 Cosmetics
7.6 Others

Chapter 8 Market Size and Forecast, By Region, 2021-2032 (USD Million, Kilo Tons)

8.1 Key trends
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Rest of Europe
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 Australia
- 8.4.6 Rest of Asia Pacific
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Rest of Latin America
8.6 MEA
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 South Africa
- 8.6.4 Rest of MEA

Chapter 9 Company Profiles

9.1 Heliae Development LLC.
9.2 ENERGYbits Inc.
9.3 Far East Bio-Tec Co., Ltd. (FEBICO)
9.4 Roquette Klotze GmbH & Co. KG
9.5 Nutrex Hawaii Inc.
9.6 Corbion NV
9.7 Allmicroalgae
9.8 E.I.D. Parry (India) Limited
9.9 Earthrise Nutritionals LLC. (DIC Corporation)
9.10 Phycom Microalgae
9.11 Cyanotech Corporation
9.12 Yunnan Green A Biological Project Co., Ltd.
9.13 JUNE Group of Companies (JUNE Spirulina)
9.14 Fuqing King Dnarmsa Spirulina Co., Ltd.
9.15 Prolgae Spirulina Supplies Pvt. Ltd.
9.16 Veramaris
9.17 Euglena Co Ltd
9.18 Bliss Lifesciences LLP
9.19 AlgalR NutraPharms Pvt Ltd
9.20 Goerlich Pharma GmbH
9.21 Nordic Naturals, Inc
9.22 Bioriginal Food & Science Corp.
9.23 Source-Omega LLC
9.24 Deva Nutrition LLC
9.25 Cellana LLC
9.26 Kangcare Bioindustry Co. Ltd