Major algae protein market players include Cyanotech Corporation, Corbion NV, E.I.D. Parry Limited, NOW Foods, ENERGYbits Inc., Prairie Naturals, Vimergy LLC, Earthrise Nutritional, Terravia Holdings Inc., Phycom, Prolgae, Far East Bio-Tec Co., Ltd, Allmicroalgae, Roquette Klötze GmbH & Co. K, Yunnan Green A Biological Project Co., Ltd., and Fuqing King Dnarmsa Spirulina Co., Ltd.
Pune, India, Feb. 21, 2022 (GLOBE NEWSWIRE) --
The global algae protein market size is set to grow at a significant CAGR during the forecast period, due to the growing demand for plant-based foods. Algae proteins are rich in a variety of vitamins, proteins, and minerals and contain omega-3 and nearly 40%-60% of essential fatty acids. They are used as an ingredient in several foods and beverages because of their beneficial properties. Below mentioned are the key trends that may positively impact the industry outlook:
North America (regional valuation to reach $290 million):
Plant diets may incorporate seaweed-based algae proteins:
Seaweed-based algae proteins accounted for a share worth nearly $90 million in the North America algae protein market in 2019. Sea algae is classified into different species and comes in three types – brown, red, and green algae. Algae proteins from seaweed are becoming a popular ingredient in many plant-based diets as they consist of several vitamins, proteins, and antioxidants. They are also anti-inflammatory and can protect the skin and other organs from harmful free radicals, which will increase their adoption in plant-based foods.
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The U.S. algae protein market share shows significant progress:
The U.S. market size is expected to grow at a commendable rate by 2026 as the population is increasing its focus on including some form of physical activity to enhance their quality of life. People diagnosed with chronic diseases, such as hypertension, diabetes, and obesity are switching to healthier diets to better manage their condition.
The above-mentioned factors have accelerated the production and sale of protein-rich foods and beverages to help people achieve their daily protein intake. The era of veganism has dawned on the U.S., with many people making the switch to lead a healthier life. In the process, it has also increased the demand for plant-based meat and dairy substitutes, which will amplify the use of algae proteins in the country.
Capsules become the most preferred way of algae protein consumption:
Based on dosage form, capsules held a share worth $30 million in the regional algae protein market in 2019. Algae protein capsules are majorly used to enhance a person’s skin, heart, joint, and bone health. They offer several essential nutrients, such as minerals, vitamins, and proteins. These capsules are also great for keeping one’s cholesterol level under control.
Nutraceutical products, medicines that offer the necessary nutrition to a person, are gaining traction among consumers in North America as they are becoming health conscious, which will be instrumental in boosting the use of algae protein capsules.
Europe (regional valuation may surpass $250 million):
Demand of micro algae increases:
Micro algae captured more than 50% share of the Europe algae protein industry in 2019 as it is being widely used in several food items for human consumption. It has a high percentage of proteins, carbohydrates, and lipids and contains various vitamins and minerals as well. Micro algae is also used in feed applications as it has a high nutritional value. The demand for vegan diet is increasing across the region, which will boost the use of micro algae.
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Powdered algae proteins gain momentum:
The powdered form of algae protein generated a revenue of over $80 million in the Europe market in 2019. This form of algae protein has anti-inflammatory, antioxidant, and pain-relieving properties that can help people fight several diseases. Since athletes are required to meet their protein intake targets, the demand for powdered algae protein supplements will grow. As many people are getting into sports, the adoption of powdered algae proteins will rise at a considerable rate.
Asia Pacific (regional valuation to exceed $250 million):
Occurrence of chronic diseases rises:
A large percentage of the population in APAC region is suffering from a wide range of life-threatening diseases, such as obesity, diabetes, hypertension, and high blood pressure. Moreover, many people are becoming aware of the significance and benefits of incorporating physical activities in their daily routine as they can not only keep diseases at bay, but also enhance their quality of life.
The concept of dietary supplements and nutraceuticals is picking up the pace in many countries across the region due to the consumer’s growing health consciousness and income level. They are increasingly adopting plant-based diets and are looking for substitutes for meat and dairy-based products to fulfill their daily protein requirements, which will strengthen the demand for algae proteins.
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The regional food & beverage sector grows:
The food & beverage sector of the region is expanding at a strong rate due to the growing demand for healthy foods and beverages. Many people are opting for protein-rich diets to help them lose weight and feel healthier. Additionally, several confectionary manufacturers are increasingly using algae proteins in their cakes and other baked products to fulfill their customer’s demand for guilt-free desserts. The rising consumption of breakfast cereals, protein drinks, and healthy snacks will bolster the adoption of algae proteins.
The global algae protein market outlook will be positively impacted by the growing acceptance of plant-based diets and nutraceuticals. Since young people are turning into fitness enthusiasts, they are including algae proteins in their daily diet to not only help them fulfill their nutritional requirements, but also boost their immunity.
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