An ever-growing number of population coupled with factors such as changing socio-economic demographics and preferential shifts among consumers has placed an added pressure on the world’s resources to provide not only more but different types of food.
Realizing the unsustainability of energy requirements and ecological consequences of mass production of animal protein, a number of alternative proteins are appearing on the scene. In recent years, alternative proteins including wheat protein and pea protein are attracting considerable financial investments, research attention, and interest in media. In recognition of animal farming as one of the major contributors to greenhouse gas (GHG) emissions, algal proteins in particular are emerging as a pathway to meet the nutritional needs and food demands in heathy and sustainable manner.
In light with emerging protein gap and rising concerns regarding environmental impact of animal agriculture, the use of algae as protein, food, and dietary supplements is gaining increasing attention. Moreover, notable surge in consumers demand for more sustainable and nutritious dietary options remains instrumental to the growth of algal proteins market.
As novel proteins require the development of new value chains and attention to challenges such as production costs, safety, and consumer acceptance, Future Market Insights brings to fore credible insights and forecast statistics of the algal proteins market.
Some of the key players active in the algal proteins market include AlgaEnergy, S.A., Corbion Biotech, Inc., Algatech Ltd, Power Organics, and Affinity Energy and Health Limited.
Amid the gradual shift away from animal-based to plant-based products, a number of companies are pursuing a variety of approaches to create the eating experience without any animals as input. This, in turn, has led to surge in demand for plant-based including wheat protein and soy protein. However, due to growing number of consumers allergic to gluten and soy, a shift in focus towards algal proteins has been evident in current scenario. With greater awareness of science behind the use of microalgae as a proteins and growing concerns about carbon footprint and sustainability, the demand for algal proteins is expected to be strong going forward.
With an extremely high sustainability score, natural food ingredients have attracted huge attention from consumers in recent times. Owing to far more access to information than before, there has been increasing awareness of contribution of proteins to healthy aging. Additionally, consumers believe that food & beverage options with recognizable ingredients are healthier, thereby potentially raising the demand for algal proteins. On the account of meteoric proliferation of clean labels, F&B manufacturers are under pressure to improve health profiles of their products and to offer ‘better-for-you’ options. The result is projected to lead to increased demand for algal proteins. However, aspects related to food safety of algae are not well-known in terms of presence of allergens or contaminants generated during processing – representing a potential threat to market growth.
Alternative proteins represent a rapidly emerging new domain within the food systems, which is projected to benefit from rise in demand for protein snacks and protein bars from health conscious consumers. As consumers are increasingly trading in beef for beans, manufacturers are focusing on offering algal proteins at affordable prices. With myriad of disease-fighting properties such as fiber and phytonutrients which are not found in animal-based proteins, spirulina has been riding high on the success of its use as natural food color and functional food ingredient. In an attempt to cater to ever-increasing demand, manufacturers are tapping the potential of chlorella and phytoplankton as important strains in the algal proteins industry. It is pertinent to note that plant protein sources tend to lack certain essential amino acids required by the human body, while digestibility and bioavailability of algal proteins is not yet fully understood. Manufacturers are thus hard pressed to demonstrate quality of their products through scientific evidence.
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 algal proteins market segments and geographies.
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Algal Proteins Market
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