Global Algal Proteins Market: Detailed Analysis, Drivers, Trends, Future Opportunities, Applications, Growth, And Market Forecast To 2028

                                          
Global Algal Proteins Market 2021: By Form (Powder, Liquid), By Source (Marine Algae, Fresh Water Algae), By Product Type (Spirulina, Chlorella, Phytoplankton), By Nature (Conventional, Organic), By End-use Industry (Food and Beverage, Dietary Supplements, Animal Feed, Cosmetics & Personal care), By Distribution Channel (Direct, Indirect)

Global Algal Proteins Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global algal proteins market report has been segmented on the basis of form, source, product type, nature, end-use industry, distribution channel, and region.Request Covid - 19 Impact

The Global Algal Proteins market size was valued at USD $573.2 Million in 2020, USD $617.63 Million in 2021, forecasted to reach  USD $665.49 Million in 2022, and is projected to reach USD $1167.6 Million by 2030, and is anticipated to expand at a CAGR of 7.75% over the forecast period from 2020 to 2030.

Global Algal Proteins Market: Overview

Algal proteins are obtained from different types of algae and contain higher nutritional value including essential amino acids, protein, and appropriate nutritional acceptability. Some of the major functional properties of algal include water absorption and fat absorption capability, gelation, foaming capacity, emulsification capacity, among others. In addition, algae are easy to cultivate and grow rapidly and it is possible to control production of some specific compounds by manipulating the cultivation conditions.

Consumers benefit from a healthy dosage of fat and fiber with each serving of algal proteins. Normally, Spirulina or Chlorella microalgae species are consumed. Companies are producing algal proteins via fermentation as they can secure sustainable production processes. These processes can offer twice as much protein as compared to pea, soy and rice proteins.

Algal Proteins Market: Driving and Hampering Elements

Increasing R&D activities by major players for development of alternative sources of protein, coupled with manufacturers approach towards adoption of algal in production of nutritional products in order to cater the ongoing demand for high protein among consumers are major factors expected to drive growth of the global market. In addition, flourishing cosmetic industry and increasing adoption of algal by manufacturers as a harmless and efficient natural protein ingredient in cosmetic products is another factor expected to support growth of the target market to certain extent.

Risk of cardiovascular diseases and non-alcoholic fatty liver diseases can be lowered by consuming algal proteins by improving blood lipid profiles. Increasing demand for algal proteins from pharmaceutical manufacturers, owing to its various health benefits is another factor expected to further support growth of the market.

Rising vegan population and increasing demand for alternative sources of proteins other than dairy products or non-vegetarian food are factors expected to spur demand for algal proteins and fuel growth of the target market.

However, stringent government regulations related to product approvals is a major factor that could hamper growth of the global market.

Opportunities and Trends

Increasing investments by some of the prominent players for technological advancements and R&D activities in order to develop innovative products is expected to present new revenue opportunities for manufacturers and raw material suppliers operating in the global market over the next few years.

Key trend in the global market is that manufacturers are focusing on offering the products on online retails platforms to expand their customer base, which is expected to further support market growth.

Segment Analysis By Source:

Among the source segments, the spirulina segment is expected to account for a dominant share in terms of value in the target market.

By Nature:

Among the nature segments, the organic segment is anticipated to grow at a substantial growth rate over the 10-year period. The conventional segment is expected to account for the highest revenue share owing to its cost-effectiveness.

By End-use Industry:

Among the end-use industry segments, the food & beverage segment is expected to dominate in the target market and is projected to continue to dominate over the next few years. The dietary supplements segment is anticipated to register notable growth rate owing to rapidly growing demand for dietary supplements in various countries across the globe.

Algal Proteins Market: Region Analysis

The market in North America is estimated to account for the largest revenue share in the global algal proteins market. This is attributable to growing cosmetics and personal care products industries, combined with increasing demand for algal proteins these industries for production of cosmetics and personal care products. In addition, high adoption of algal proteins by food industry as it is a rich source of proteins, and presence of large number of prominent manufacturers of algal proteins in countries in the region are other factors expected to support growth of the NA algal proteins market. The Europe market is estimated to account for a considerable growth rate, owing to growing merger and acquisition activities between regional and international players in this region. The APAC market is expected to witness higher growth rate, owing to increasing demand from manufacturers of animal feed products, growing food and cosmetics & personal care products industries, and rising number of prominent players in economies such as China and India in the Asia Pacific.

Below are the leading companies profiled in this Algal Proteins Market Report:

  
Affinity Energy and Health Limited
  
AlgaEnergy, S.A.
  
Algatech Ltd.
  
Algenol biotech
  
C.B.N. Bio-engineering Co.Ltd
  
Corbion Biotech, Inc.
  
Cyanotech Corporation
  
Duplaco
  
E.I.D. - Parry Limited
  
Earthrise Nutritionals LLC
  
ENERGYbits Inc.
  
Far East Bio-Tec Co., Ltd.
  
Far East Microalgae Industries Co.Ltd.
  
Fuqing King Dnarmsa Spirulina Co.ltd.
  
Gong Bih Enterprise Co.Ltd.
  
NB Laboratories
  
NOW Foods
  
NP Nutra
  
Nutress B.V.
  
Nutrex Hawaii, Inc.
  
Parry Nutraceuticals
  
Power Organics
  
Prairie Naturals
  
Rainbow Light Nutritional Systems, Inc.
  
Roquette Klötze GmbH & Co. KG
  
Seagrass Tech Private Limited
  
Sun Chlorella Corporation
  
Taiwan Chlorella Manufacturing Company Ltd
  
TerraVia Holdings, Inc.
  
Tianjin Norland Biotech Co.Ltd
  
Vimergy LLC.

Global Algal Proteins Market Segmentation

Segmentation by Form

  
Powder
  
Liquid

Segmentation by Source

  
Marine Algae
  
Fresh Water Algae

Segmentation by Product Type

  
Spirulina
  
Chlorella
  
Phytoplankton

Segmentation by Nature

  
Conventional
  
Organic

Segmentation by End-use Industry

  
Food and Beverage
  
Dietary Supplements
  
Animal Feed
  
Cosmetics & Personal care

Segmentation by Distribution Channel

  
Direct
  
Indirect
This research comprehensively answers the following 9 important questions:

  
Q.1. What are some of the most promising growth trends in the Algal Proteins market worldwide?
  
Q.2.Which segments and sub-segments will grow at a faster pace and why? Which segment is nearing the peak and demand saturation?
  
Q.3.Which region will witness a higher growth rate and why? Which region might see a slower or negative growth region?
  
Q.4.What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in Algal Proteins market?
  
Q.5.What are the business risks and who pose challenges to the global leaders and are competitive threats in this Algal Proteins market?
  
Q.6.What are the emerging trends post COVID-19 reshuffle in this Algal Proteins market and the what are reasons behind these trends and do they translate in global exploration?
  
Q.7. Who are the major global and regional players in the Algal Proteins market? Which are the strategic initiatives key players are pursuing for business growth?
  
Q.8.Which are the competing products in Algal Proteins market and how big of a threat do they pose for loss of market share by material or product substitution?
  
Q.9.What M & A activity has occurred in the last 5 years and what is its impact on the Algal Proteins industry?