Algae proteins are protein extracted from freshwater algae as well as marine water algae by harvesting, extracting, and drying the algae. Algal proteins are used as an ingredients in the food industry. Because of their nutritional physiological characteristics, they are having wide applications in dietary supplements, animal feeds, and food and beverages industries. Algae proteins are effective in promoting weight loss and averting heart diseases, diabetes, and fatigue.
MARKET SCOPE
The "Global Algae Protein Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the algae protein market with detailed market segmentation by source, product type, form, application, and geography. The report provides key statistics on the market status of the algae protein market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on source, the global algae protein smarket is segmented into seaweed and microalgae
- Based on product type, the global algae protein market is segmented into spirulina, chlorella, and others
- Based on form, the market is bifurcated into powder, liquid, and others
- Based on application , the market is bifurcated into dietary supplements, food & beverage, animal feed, cosmetics, and others
MARKET DYNAMICS
Drivers
- The growing demand from various end use industries due to remarkable functional properties of algae protein.
- The growing awareness about algae proteins and their associated benefits further contributes for the market growth.
Restraints:
- The presence of alternative products and high cost of the algae protein are expected to restraint the growth of algae protein market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The algae protein market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the algae protein in these regions.
IMPACT OF COVID-19 ON ALGAE PROTEIN MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the algae protein market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from algae protein market are anticipated to lucrative growth opportunities in the future with the rising demand for algae protein in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the algae protein market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Allmicroalgae
- Far East Bio-Tec Co., Ltd
- Corbion
- Cyanotech Corporation
- ENERGYbits Inc.
- Heliae Development, LLC
- Roquette Kl?tze GmbH & Co. KG
- E.I.D. - Parry (India) Limited
- Solazyme
- Earthrise
- NOW Foods
- Prairie Naturals
- Vimergy LLC
- Thermo Fisher Scientific Inc
- Pond Tech
- ALGAMA
- NP Nutra
- Arizona Algae Products, LLC
- Algatech LTD
- Parry Nutraceuticals