Press release
Algae Protein Market Expected to Reach $709.0 Million by 2028, Fueled by Rising Demand for Sustainable Protein Sources
Algae Protein Market
โถ๏ธ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ https://www.alliedmarketresearch.com/request-sample/13069
The utilization of algae protein as an alternative source of protein is poised to witness significant adoption in the years to come. The conventional methods of animal agriculture have led to a myriad of environmental issues, including deforestation, climate change, biodiversity loss, pollution, and more. Livestock farming is a major contributor to these global challenges, emitting greenhouse gases like N2O, CO2, and CH4.
In response, the shift towards alternative protein sources derived from algae presents an opportunity to develop food products that are not only healthier but also more environmentally sustainable. Algae cultivation offers several advantages, as it can be grown in both freshwater and saline water, as well as on non-arable land. Moreover, algae demonstrates a higher protein yield per unit area and unit time compared to traditional crops. Reports indicate that microalgae can yield between 4 to 15 tons of protein per hectare per year, significantly surpassing the productivity of traditional crops like soybean, which typically yield between 0.6 to 1.2 tons of protein per hectare per year. The abundant protein content in algae is expected to drive market growth in the coming years.
โถ๏ธ ๐๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง https://www.alliedmarketresearch.com/request-for-customization/A12704
The incorporation of algae protein into functional food products remains relatively new in both developing and developed regions. This presents an untapped and lucrative opportunity for algae protein manufacturers in the functional food market. Several companies have invested in research and development to introduce unique and innovative products utilizing algae protein, particularly Spirulina. For example, Squeeze Dried introduced Spirulina-flavored mermaid lemonade, while other manufacturers are launching Spirulina-infused drinks and foods. Additionally, consumers worldwide are increasingly becoming aware of the benefits of protein supplements, further enhancing opportunities for the market.
While the COVID-19 pandemic initially disrupted global supply chains, the impact on the algae protein market has been predominantly positive. Despite encountering challenges during the pandemic's onset, engaged players have adapted and are expected to continue thriving in the evolving market landscape.
Key Findings of the Fin Fish Market:
1. Regional Dominance: North America currently dominates the global algae protein market and is expected to maintain its leading position throughout the forecast period.
2. Type Preference: The spirulina segment held the largest market share in 2020 and is projected to continue growing at a robust CAGR in the coming years.
3. Application Focus: Nutraceuticals/supplements accounted for over four-fifths of the market share in 2020 and are expected to exhibit the highest CAGR during the forecast period.
4. Segment Shift: The chlorella segment is anticipated to experience a slight decline in market share in the future.
5. Regional Growth: Asia-Pacific is poised to witness significant growth with a robust CAGR during the forecast period, indicating emerging opportunities in the region.
โถ๏ธ ๐๐๐ฅ๐ค ๐ญ๐จ ๐จ๐ฎ๐ซ ๐๐ฑ๐ฉ๐๐ซ๐ญ https://www.alliedmarketresearch.com/connect-to-analyst/A12704
The demand for algae protein surged during the pandemic due to increased consumer awareness of health and fitness.
The global algae protein market is segmented by type (spirulina and chlorella) and application (nutraceuticals/supplements, food & beverages, and others). It is analyzed across North America, Europe, Asia Pacific, and LAMEA regions.
Key players in the algae protein market include Cyanotech Corporation, C.B.N. Bio-engineering Co., Ltd, Far East Microalgae Industries, Co., Ltd., Fuqing King Dnarmsa Spirulina Co., ltd., Gong Bih Enterprise Co., Ltd., Algenol biotech, Sun Chlorella Corporation, NB Laboratories, Taiwan Chlorella Manufacturing Company Ltd, and Tianjin Norland Biotech Co., Ltd.
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