Algae Protein Global Market Report 2024

Description

Algae protein comes from various types of algae, including both microalgae (such as spirulina and chlorella) and macroalgae (like seaweed). Algae are rich in proteins, essential amino acids, vitamins, minerals, and other bioactive compounds, making them an excellent source of nutrition and functional ingredients. This versatile and sustainable source of high-quality nutrition finds applications in food, supplements, cosmetics, and animal feed.

The algae protein market primarily features microalgae and macroalgae. Microalgae are microscopic algae found in both freshwater and marine environments, capable of photosynthesis. These algae are sourced from freshwater and marine settings and have a range of applications, including dietary supplements, human food, animal feed, pharmaceuticals, and other uses.

The algae protein market research report is one of a series of new reports from The Business Research Company that provides algae protein market statistics, including the algae protein industry global market size, regional shares, competitors with algae protein market share, detailed algae protein market segments, market trends, and opportunities, and any further data you may need to thrive in the algae protein industry. These algae protein market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The algae protein market size has grown rapidly in recent years. It will grow from $3.50 billion in 2023 to $3.87 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth observed during the historic period can be attributed to several factors, including the rising demand for plant-based proteins, heightened awareness of environmental impacts, greater recognition of algae's nutritional benefits, increased venture capital and government funding for algae protein research and development, and a growing application in the food and beverage sector.

The algae protein market size is expected to see rapid growth in the next few years. It will grow to $5.86 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The projected growth during the forecast period can be attributed to several factors, such as expanding product applications, growing consumer awareness and education, increasing regulatory support, the rise of favorable policies and regulations promoting sustainable food sources, and the expanding adoption of algae protein in emerging markets. Key trends for the forecast period include advancements in extraction technologies, the use of genetic modification to develop algae strains with higher protein content, the integration of automation and artificial intelligence for monitoring, the application of nanotechnology to improve bioavailability, and the development of new formulations.

The growth of the algae protein market is anticipated to rise with the increasing vegan population. This group adheres to a diet and lifestyle that excludes all animal products and by-products. The rise in the vegan population is attributed to greater awareness of animal welfare, health benefits, environmental issues, and the availability of plant-based food options. Algae protein is a sustainable and nutrient-dense plant-based protein source ideal for vegans. For example, in April 2023, the Plant-Based Foods Association, a US-based trade association for the plant-based food industry, reported that in 2022, 70% of the US population consumed plant-based foods, up from 66% in 2021. This increase in the vegan population is expected to drive the growth of the algae protein market.

Leading companies in the algae protein sector are forming strategic partnerships to create innovative algae-based protein products. These partnerships allow companies to pool resources and expertise, improve research and development, and speed up commercialization. For example, in September 2022, Turtle Island Foods, a US-based vegan food manufacturer, teamed up with Triton Algae Innovations, a US-based plant-based protein producer. This collaboration focuses on commercializing new meat alternatives using Triton's protein-rich, non-GMO essential red algae. Triton's process involves stimulating green algae (Chlamydomonas reinhardtii) to turn red and produce heme, which imparts a unique nutritional and functional profile. The whole algae ingredient (Essential Red) contains 40-50% protein, minerals, and carotenoids such as astaxanthin and beta-carotene.

In August 2022, Aliga Microalgae, a Denmark-based microalgae manufacturer, acquired Duplaco's algae production facility in the Netherlands for an undisclosed amount. This acquisition enhances chlorella algae production by incorporating Duplaco B.V.'s Netherlands-based chlorella microalgae facility. Duplaco B.V. is a Netherland-based chlorella microalgae manufacturer.

Major companies operating in the algae protein market are Roquette Freres SA, E.I.D-Parry Limited, Corbion NV, Now Health Group Inc., Rainbow Light Nutritional Systems, Far East Bio-Tec Co. Ltd., Cyanotech Corporation, Heliae Development LLC, Earthrise Nutritionals LLC, Algenol Biotech LLC, Algenuity Limited, Triton Algae Innovations Ltd., AlgaEnergy, Prairie Naturals, ALGAMA Foods, Qualitas Health Inc., ENERGY bits Inc., Vimergy LLC, AlgoSource SA, Aliga ApS, Pond Technologies Holdings Inc., Seagrass Tech Private Limited, EnerGaia Pte Ltd., GreenCoLab, Phycom BV

Asia-Pacific was the largest region in the algae protein market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the algae protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the algae protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The algae protein market consists of sales of protein powders, supplements, food additives, and energy bars. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Algae Protein Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on algae protein market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for algae protein ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The algae protein market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Microalgae; Macroalgae
2) By Source: Freshwater; Marine
3) By Application: Dietary Supplements; Human Food; Animal Feed; Pharmaceutical; Other Applications
Companies Mentioned: Roquette Freres SA; E.I.D-Parry Limited; Corbion NV; Now Health Group Inc.; Rainbow Light Nutritional Systems
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r19531

1. Executive Summary

2. Algae Protein Market Characteristics

3. Algae Protein Market Trends And Strategies

4. Algae Protein Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Algae Protein Market Size and Growth

5.1. Global Algae Protein Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Algae Protein Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Algae Protein Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Algae Protein Market Segmentation

6.1. Global Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Microalgae
Macroalgae
6.2. Global Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Freshwater
Marine
6.3. Global Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Dietary Supplements
Human Food
Animal Feed
Pharmaceutical
Other Applications

7. Algae Protein Market Regional And Country Analysis

7.1. Global Algae Protein Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Algae Protein Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Algae Protein Market

8.1. Asia-Pacific Algae Protein Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Algae Protein Market

9.1. China Algae Protein Market Overview
9.2. China Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Algae Protein Market

10.1. India Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Algae Protein Market

11.1. Japan Algae Protein Market Overview
11.2. Japan Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Algae Protein Market

12.1. Australia Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Algae Protein Market

13.1. Indonesia Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Algae Protein Market

14.1. South Korea Algae Protein Market Overview
14.2. South Korea Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Algae Protein Market

15.1. Western Europe Algae Protein Market Overview
15.2. Western Europe Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Algae Protein Market

16.1. UK Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Algae Protein Market

17.1. Germany Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Algae Protein Market

18.1. France Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Algae Protein Market

19.1. Italy Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Algae Protein Market

20.1. Spain Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Algae Protein Market

21.1. Eastern Europe Algae Protein Market Overview
21.2. Eastern Europe Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Algae Protein Market

22.1. Russia Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Algae Protein Market

23.1. North America Algae Protein Market Overview
23.2. North America Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Algae Protein Market

24.1. USA Algae Protein Market Overview
24.2. USA Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Algae Protein Market

25.1. Canada Algae Protein Market Overview
25.2. Canada Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Algae Protein Market

26.1. South America Algae Protein Market Overview
26.2. South America Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Algae Protein Market

27.1. Brazil Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Algae Protein Market

28.1. Middle East Algae Protein Market Overview
28.2. Middle East Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Algae Protein Market

29.1. Africa Algae Protein Market Overview
29.2. Africa Algae Protein Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Algae Protein Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Algae Protein Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Algae Protein Market Competitive Landscape And Company Profiles

30.1. Algae Protein Market Competitive Landscape
30.2. Algae Protein Market Company Profiles
- 30.2.1. Roquette Freres SA
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. E.I.D-Parry Limited
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Corbion NV
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Now Health Group Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Rainbow Light Nutritional Systems
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Algae Protein Market Other Major And Innovative Companies

31.1. Far East Bio-Tec Co. Ltd.
31.2. Cyanotech Corporation
31.3. Heliae Development LLC
31.4. Earthrise Nutritionals LLC
31.5. Algenol Biotech LLC
31.6. Algenuity Limited
31.7. Triton Algae Innovations Ltd.
31.8. AlgaEnergy
31.9. Prairie Naturals
31.10. ALGAMA Foods
31.11. Qualitas Health Inc.
31.12. ENERGY bits Inc.
31.13. Vimergy LLC
31.14. AlgoSource SA
31.15. Aliga ApS

32. Global Algae Protein Market Competitive Benchmarking

33. Global Algae Protein Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Algae Protein Market

35. Algae Protein Market Future Outlook and Potential Analysis

35.1 Algae Protein Market In 2028 - Countries Offering Most New Opportunities
35.2 Algae Protein Market In 2028 - Segments Offering Most New Opportunities
35.3 Algae Protein Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer