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Algae Protein Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
Algae Protein Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The algae protein market size is expected to see rapid growth in the next few years. It will grow to $5.86 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%.” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, September 17, 2024 /EINPresswire / -- The algae protein market has experienced robust growth in recent years, expanding from $3.50 billion in 2023 to $3.87 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increase in demand for plant-based proteins, rise in awareness of the environmental impact, increase in recognition of algae's nutritional profile, increase in venture capital and government funding for algae protein research and development, and increase in use in food and beverage sector.
What Is The Estimated Market Size Of The Global Algae Protein Market And Its Annual Growth Rate?
The algae protein market is projected to continue its strong growth, reaching $5.86 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to expanding product applications, increasing consumer awareness and education, increasing regulatory support, rise in favorable policies and regulations promoting sustainable food sources, and increasing adoption of algae protein in emerging markets.
Explore Comprehensive Insights Into The Global Algae Protein Market With A Detailed Sample Report:
Growth Driver of The Algae Protein Market
The surge in the vegan population is expected to propel the growth of the algae protein market going forward. The vegan population refers to the group of people who follow a diet and lifestyle that excludes all animal products and by-products. The surge in the vegan population is due to increased awareness of animal welfare, health benefits, environmental concerns, and the availability of plant-based food options. Algae protein serves as a sustainable, nutrient-rich source of plant-based protein for the vegan population.
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Which Market Players Are Driving The Algae Protein Market Growth?
Key players in the algae protein market include Roquette Freres SA, I Limited, Corbion NV, Now Health Group Inc., Rainbow Light Nutritional Systems, Far East Bio-Tec Co. Ltd., Cyanotech Corporation, Heliae Development LLC, Earthrise Nutritionals LLC, Algenol Biotech LLC, Algenuity Limited, Triton Algae Innovations Ltd., AlgaEnergy, Prairie Naturals, ALGAMA Foods, Qualitas Health Inc., ENERGY bits Inc., Vimergy LLC, AlgoSource SA, Aliga ApS, Pond Technologies Holdings Inc., Seagrass Tech Private Limited, EnerGaia Pte Ltd., GreenCoLab, Phycom BV.
What Are The Key Trends That Influence Algae Protein Market Share Analysis?
Major companies operating in the algae protein market are adopting strategic partnerships approach to develop innovative algae-based protein products. Strategic partnerships help algae protein companies by combining resources and expertise, enhancing research and development capabilities, and accelerating commercialization.
How Is The Global Algae Protein Market Segmented?
1) By Type: Microalgae, Macroalgae
2) By Source: Freshwater, Marine
3) By Application: Dietary Supplements, Human Food, Animal Feed, Pharmaceutical, Other Applications
Geographical Insights: Asia-Pacific Leading The Algae Protein Market
Asia-Pacific was the largest region in the algae protein market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the algae protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Algae Protein Market Definition
Algae protein is derived from various types of algae, including microalgae (spirulina and chlorella) and macroalgae (seaweed). Algae are rich in proteins, essential amino acids, vitamins, minerals, and other bioactive compounds, making them a valuable source of nutrition and functional ingredients. It is a versatile and sustainable source of high-quality nutrition, with applications in food, supplements, cosmetics, and animal feed.
Algae Protein Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global algae protein market report covering trends, opportunities, strategies, and more
The Algae Protein Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on algae protein market size, algae protein market drivers and trends, algae protein market major players, algae protein competitors' revenues, algae protein market positioning, and algae protein market growth across geographies. The algae protein market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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What Does the Business Research Company Do?
The Business Research Company publishes over 15,000 reports across 27 industries and 60+ geographies. Our research is powered by 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. We provide continuous and custom research services, offering a range of specialized packages tailored to your needs, including Market Entry Research Package, Competitor Tracking Package, Supplier & Distributor Package, and much more.
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Oliver Guirdham
The Business Research Company
+44 20 7193 0708
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