Algae Protein Market - Forecasts from 2024 to 2029

Algae Protein Market - Forecasts from 2024 to 2029

The global algae protein market is expected to grow at a CAGR of 6.52% to reach a total market size of US$1,216.113 million by 2029, increasing from US$886.802 million in 2024.

Algae protein is a prevalent elective for protein sources due to its nutritional value and sustainability advantages. Produced from aquatic plants, algae incorporate all nine required amino acids, is rich in iron, and vitamins, and is low in calories, which makes it reasonable for weight management. Algae generation needs negligible land, and less water consumption, and helps in carbon sequestration, benefiting climate change mitigation. It can be utilized in food products such as protein powders, nutritional supplements, and plant-based meat alternatives, as well as in pharmaceutical items and for animal feed.

Besides, the nutritional composition and well-being impacts could be different depending on the type of algae.

The algae protein market is witnessing substantial expansion due to growing consumer demand for plant-based proteins, more knowledge about dietary benefits of algae, and technological advancements in the cultivation and extraction of algae to make it cost-effective.

Further, the market is extending to developing regions, with rising markets developing products to increase the attraction of consumers to this sustainable protein source. Companies are doing strategic collaborations to create attractive and economical algae protein items.

Further, a few challenges for algae protein incorporate cost reduction as its production could be costlier and some people could develop allergies to algae which could restrain the market growth. However, growing consumer acknowledgment of algae protein as a reasonable food source, and raising clear regulatory standards for plant-based food products including algae protein production and labeling, could lead to the continuous expansion of the market in the coming future.

Algae protein market drivers
Increasing the utilization of algae health benefits and reducing the risk of certain diseases will bolster the algae protein market globally.

Different types of algae are rich in fundamental nutrients like proteins, vitamins, and minerals, which are significant for keeping up overall health and preventing different diseases. Additionally, with the increasing health consciousness among consumers, algae protein-based items are becoming prevalent choices. For instance, the University of Exeter study published in December 2023 in the Journal of Nutrition discovered that ingestion of commercially accessible algal species, which are rich in protein and high in micronutrients, bolsters muscle remodelling in young healthy adults, proposing algae as a sustainable elective to animal-derived protein for muscle maintenance and building.

Further, Some algae species contain compounds with disease-fighting properties, such as antioxidants, anti-inflammatory agents, and antiviral substances, which can protect against chronic illness.. According to the WebMD LLC article, Spirulina contains cancer prevention agents that have anti-inflammatory impacts, which contribute to chronic inflammation and cancer. Phycocyanin, a major pigment protein in spirulina, decreases inflammation, blocks tumor development, and kills cancer cells. Further, there is ongoing research on understanding and developing the immune-enhancing potential of Spirulina in the treatment of cancer. Moreover a research article in MDPI from 2022 that seaweed compounds have the potential to treat chronic diseases such as obesity, different cancers, diabetes, osteoporosis, arthritis, and neurodegenerative diseases. There is research going to study and develop algae protein products to treat different studies which can contribute to fuelling the market growth in the coming future.

Algae Protein Market Geographical Outlook:

Europe region is predicted to hold a considerable market share.

The rising population in Europe is increasingly conscious of their health and well-being and is opting for plant-based foods which will contribute to the market growth in the region. Further, countries in Europe are emphasizing on development of eco-friendly products and the adoption of sustainability practices through policies and grants. For instance, the University of Gothenburg published news in May 2024 about their researcher, Kristof Stedt granted a royal grant from King Carl XVI Gustaf's 50th Anniversary Fund for Science, Technology, and Environment for his research on modern strategies for increasing algae as a future protein source.

Moreover, in January 2024, NRI published it being part of a two-year project to develop a new innovative technology for producing protein with an enhanced flavor from microalgae. The venture is part of the 'novel low-emission food production systems competition' financed by the Biotechnology and Biological Sciences Research Council and Innovate UK. It will be conveyed in association with London-based biotechnology start-up Arborea Ltd and Imperial College London. These initiatives will promote the algae protein market growth in the European region.

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Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

Algae Protein market is analyzed into the following segments:

By Type

Spirulina
Chlorella
Seaweed
Others

By End-User

Dietary Supplements
Food Items
Animal Feed
Pharmaceutical
Cosmetics and Personal Care

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Italy
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
Japan
China
India
South Korea
Indonesia
Thailand
Others