Algal Protein Market Analysis

Algal protein market is segmented on the basis of product form, type, application, and distribution channels.

On the basis of product form, algal protein market is segmented into powder and liquid forms. Amongst all the segments, powder segment accounts for major revenue share and is expected to register significant growth during the forecast period.

On the basis of product source, algal protein market segments include marine and fresh water algae. Among both segments, fresh water algae segment holds the major share and is expected to register a significant growth during the forecast period. Due to increasing demand for fresh water algae, growers are improving existing methods of aquaculture by providing sterilized water, nutrients, oxygen, and carbon dioxide at the appropriate rates to the algal plants.

On the basis of product type, algal protein market segments include spirulina, chlorella and other algae. Among all the segments, spirulina segment holds the major share and is expected to register a significant growth during the forecast period.

On the basis of application, algal protein market is segmented into food and beverages, nutritional and dietary supplements, animal feed, and cosmetics & personal care products. Among all these segments, nutritional and dietary supplements segment accounts for major share due to a historically high usage. Furthermore, use of algal protein as a natural food colorant is a major driver for the global market.

On the basis of distribution channel, it is segmented into direct and indirect sales. The indirect sales segment is further sub-segmented into wholesaler, trader and retailer. Among the various retail segments, increasing online sales are a major factor driving the market as online medium substantially reduces the distribution and marketing costs of small-scale producers.

Algal Protein Market Regional Outlook:

The algal protein market in North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA is covered in the report.

North America accounts for major revenue share of global algal protein market, followed by Europe and is expected to register a moderate growth over the forecast period. The market in Asia Pacific is expected to accounts an increase in demand for natural food additives and dietary supplements.The U.S. market is one of the major suppliers of algal protein. Consumption of algal protein in this region is rapidly growing due to increasing consumer preference for plant based dietary supplements.

Algal Protein Market Dynamics:

Increasing awareness among consumers regarding algae proteins such as spirulina for its health benefits is a major factor driving the global algal protein market. Algal protein as a natural substitute for animal proteins such as whey protein and gelatin is attracting the target group which is allergic to whey protein and vegetarian.

Algal Protein Market Key Players:

Some of the key players participating the global algal protein marketinclude TerraVia Holdings, Inc., Nutress BV, Nutrex Hawaii Inc., Cyanotech Corporation, Far East Bio-Tec Co., Ltd., Earthrise Nutritionals LLC, and Rainbow Light Nutritional Systems, Inc.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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