Global Algae Proteins Market Analysis Report 2023: Market to Reach $1.5 Billion by 2030 - Spirulina and Chlorella Account for Majority of the Market


Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Algae Proteins: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Algae Proteins Market to Reach $1.5 Billion by 2030

The global market for Algae Proteins estimated at US$882.1 Million in the year 2022, is projected to reach a revised size of US$1.5 Billion by 2030, growing at a CAGR of 6.8% over the analysis period 2022-2030.

Spirulina, one of the segments analyzed in the report, is projected to record a 7.3% CAGR and reach US$880.3 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Chlorella segment is readjusted to a revised 6.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $235.1 Million, While China is Forecast to Grow at 9% CAGR

The Algae Proteins market in the U.S. is estimated at US$235.1 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$251.3 Million by the year 2030 trailing a CAGR of 9% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 6.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$152.1 Million by the year 2030.

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages510
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$882.1 Million
Forecasted Market Value (USD) by 2030$1500 Million
Compound Annual Growth Rate6.9%
Regions CoveredGlobal

MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Health Foods Buck the Trend of Reducing Consumer Spends Across a Multitude of Categories
  • An Introduction to Algae Protein
  • 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
  • Sources of Algae Protein
  • Analysis by Application: Dietary Supplements Account for the Largest Share
  • Regional Analysis: Europe and North America Lead the Algae Protein Market
  • Competitive Scenario: Exciting Algae-Oriented Developments
  • Recent Market Activity
  • Product of Select Leading Companies in Algae Protein Market
  • Algae Proteins - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

MARKET TRENDS & DRIVERS

  • Changing Protein Consumption Worldwide
  • Food Needs of Expanding Global Population Improve Market Prospects
  • Algae Proteins in Dietary Supplements
  • 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
  • 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

FOCUS ON SELECT PLAYERS (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 Klotze GmbH & Co. KG
  • Seagrass Tech Private Limited

For more information about this report visit https://www.researchandmarkets.com/r/k9tnnb

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Global Market for Algae Proteins

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