Algae Protein Market revenue to hit $1 billion by 2026, Says Global Market Insights, Inc.

Algae Protein Industry is expected to achieve over 6% CAGR from 2020 to 2026, supported by increasing consumption of protein supplements.

Selbyville, Delaware, UNITED STATES

Selbyville, Delaware, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Global algae protein market value is anticipated to cross USD 1 billion by 2026, according to a new research report by Global Market Insights, Inc. Growing concern and awareness among consumer towards healthy and nutritious food products will escalate the product growth globally.

According to market analysis, chlorella-based protein products consist of numerous active ingredients containing fatty acids, dietary essential amino acids, beta-carotene, RNA/DNA, and more than 20 vitamins and minerals. Chlorella cultivation process under direct sunlight in mineral-rich freshwater ponds is monitored by biologists to ensure optimum nutrient quantity. Chlorella algae protein are widely used as food supplements to improve immunity, lower blood cholesterol and maintain gut bacteria.

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Algae proteins also witness demand as pigmentation ingredient in personal care industry in skin care creams, ointments, lotions and hair care products. Algae are oxygenic photosynthetic organisms which regulate the sebaceous gland functioning, promote blood circulation, moisture levels and keeps the skin hydrated, thereby supporting the global market demand.

Some major findings of the algae protein market report include:

  • Rising penetration of algae including chlorella in personal care products as it promotes collagen production in skin will support algae protein industry outlook over the estimated timeframe
  • Increasing demand for algae proteins as a potential ingredient for food and animal feed products will foster overall product demand.
  • Some of the key algae protein market players are Corbion NV, Heliae Development LLC, Far East Bio-Tec Co., Ltd, TerraVia Holdings, Inc., Cyanotech Corporation and Phycom Microalgae
  • Market statistics for micro algae was the highest and is further anticipated to witness significant gains due to its increased demand in production of dietary foods
  • Asia Pacific region acquired significant share in the global algae proteins market

Browse key industry insights spread across 220 pages with 457 market data tables and 20 figures & charts from the report, “Algae Protein Market Outlook By Application (Dietary Supplements, Food & Beverage (Bakery & Confectionery, Protein Drinks, Breakfast Cereals, Snacks), Animal Feed, Cosmetics), Source (Seaweed {Brown Algae, Green Algae and Red Algae}, Micro algae {Blue-Green Algae, Others}), Products (Spirulina, Chlorella), Dosage Form (Capsules, Liquid, Powder),  Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

As per market trends & analysis, market demand from algae protein capsules will witness gains over 6% by 2026 due to increasing demand among sports athletes. Pills or capsules can be easily carried to various locations in comparison to powdered or liquid form. Further, ongoing research by NASA’s (National Aeronautics and Space Administration) for its consumption as primary food in long term space missions will foster algae protein market growth. 

Europe algae protein industry is anticipated to witness growth over 6.0% by the end of 2026. Hectic lifestyles, changing food habits along with rising health issues has urged European consumers to spend more on nutritional supplements to provide adequate nutrients to the body. Regarded as safe by European Commission (EC), spirulina and chlorella protein products are widely sold as functional foods owing to their high mineral, vitamin content and neutral flavor profile.

Industry leaders are majorly involved in expansion initiatives, mergers & acquisitions, partnerships, R & D activities in order to achieve significant market share and compete with existing major players. For instance, Terravia, one of the leading players in global algae protein market, claims that AlgaVia, protein rich whole algae witness enhanced traction among food manufacturers and pioneering plant-based brands. TerraVia is catering to market needs for new, alternative plant-based proteins which are vegan and are also being adopted as innovative solution for sustainable sources of protein.       

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.


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