Dublin, June 14, 2023 (GLOBE NEWSWIRE) -- The "Global Algae and Seaweed Protein Market" report has been added to ResearchAndMarkets.com's offering.
The global market for algae and seaweed protein was valued at $904.7 million in 2022 and is expected to reach $1.3 billion by the end of 2028, at a CAGR of 6.8% from 2023 to 2028. The Asia-Pacific region accounts for the largest share of the global market, while the North American market is projected to show the highest CAGR, at 7.7%, during the forecast period.
The global market is segmented into microalgae and seaweed/macroalgae. In 2022, the microalgae segment accounted for 88.1% of the global market, and is expected to have a CAGR of 7.0% during the forecast period.
By application, the global market is segmented into food and beverages, dietary supplements, animal feed and other segments. In 2022, the food and beverage segment accounted for the largest share of the market. The dietary supplements segment is projected to have the highest CAGR during the forecast period, at 7.8%.
Demand for algae and seaweed protein will increase over the forecast period due to factors such as the growing number of vegans, higher product use in food and beverage applications, and growing consumer awareness of the benefits of a healthy lifestyle.
The main factors driving the expansion of the algal protein market are the rising demand for naturally produced foods and health supplements, an increase in the number of health-conscious customers, and the continuing increase in the world population.
The COVID-19 epidemic has had only a minor impact on the market for algal protein. Growing consumer demand for dietary supplements made from algae, particularly those made from spirulina, fueled industry expansion throughout the pandemic.
The report also discusses the major players in each regional market. The report concludes with a focus on the competitive landscape and includes profiles of the major vendors.
Company profiles of the leading global players, including Algenuity Ltd., Arizona Algae Products LLC, Corbion N.V., DIC Corp., E.I.D. Parry (India) Ltd., Earthrise Nutritionals LLC, Nutrex Hawaii, Seaweed & Co., and Tianjin Norland Biotech Co., Ltd.
Report Includes
- Analyses of the global market trends, with market revenue data (sales figures) for 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Estimation of actual market size and revenue forecast for global algae and seaweed protein market, and corresponding market share analysis based on the type, application, and region
- Country specific data analysis and market growth forecasts for the U.S., Canada, Mexico, Brazil, China, India, Japan, Italy, Germany, France, the U.K., South Africa, and Saudi Arabia etc.
- Discussion of the market growth drivers, opportunities and restraints, technology updates, and key regulations affecting the market for algae and seaweed protein as a basis for projecting demand in the next few years (2023-2028)
- A comparative study and SWOT analysis of the global algae and seaweed protein market, which could further assist stakeholders in formulating appropriate strategies
- Analysis of market opportunities and trends with a holistic review of the Porter's five forces analysis and value chain analysis considering both micro and macro environmental factors prevailing in the marketplace
- Review of the patent filings and patent publications for innovations in algae and seaweed protein market
- Insight into the recent industry structure, competitive aspects of each product segment, increasing investment on R&D activities, market development strategies, and company value share analysis
- Identification of major stakeholders and analysis of the company competitive landscape based on their recent developments, financial performance, segmental revenues, and operational integration
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 128 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $962.8 Million |
| Forecasted Market Value (USD) by 2028 | $1338.4 Million |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Industry Overview
- Market Outlook
- Industry Overview
- Regulatory Landscape
- Supply Chain Analysis
- Raw Materials Procurement
- Algae and Seaweed Protein Manufacturing
- Sales and Distribution
- End-users
- Algae and Seaweed Protein Production Process
- Strain Selection
- Algae Cultivation
- Drying of Algal Biomass
- Cell Disruption
- Protein Separation
Chapter 4 Esg Perspective
- Importance of Esg in the Alternative Protein Industry
- Esg Pillars in Algae and Seaweed Protein Industry
- Esg Ratings and Metrics: Understanding the Data
- Esg Practices in the Algae and Seaweed Protein Industry
Chapter 5 Market Dynamics
- Porter's Five Forces Analysis of the Market for Algae and Seaweed Proteins
- Market Growth Drivers
- Growing Market for Alternative Proteins
- Growing Animal Feed Industry
- Increasing Demand for Dietary Supplements
- Market Restraints
- Higher Market Penetration of Animal-Based Protein
- Allergic Reactions to Algae Protein
- Market Opportunities
- Growing Interest in Veganism
- SWOT Analysis
Chapter 6 Market Breakdown by Type
- Introduction
- Microalgae
- Spirulina
- Chlorella
- Others
- Seaweed/Macroalgae
Chapter 7 Market Breakdown by Application
- Introduction
- Food and Beverages
- Animal Feed
- Dietary Supplements
- Others
Chapter 8 Market Breakdown by Region
- Global Market for Algae and Seaweed Proteins
- North American Market for Algae and Seaweed Protein
- United States
- Canada
- European Market for Algae and Seaweed Proteins
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- Asia-Pacific Market for Algae and Seaweed Protein
- China
- Japan
- India
- Rest of Asia-Pacific
- Latin America Market for Algae and Seaweed Protein
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa Market for Algae and Seaweed Protein
- South Africa
- Saudi Arabia
- Rest of the Middle East and Africa
Chapter 9 Patent Review
Chapter 10 Competitive Landscape
- Market Share Analysis
- Strategic Developments by Companies in the Market
For more information about this report visit https://www.researchandmarkets.com/r/2h4vh0
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