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 Attribute | Details |
| No. of Pages | 510 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $882.1 Million |
| Forecasted Market Value (USD) by 2030 | $1500 Million |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
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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