Global Algae Protein Market 2017-2023 - $800+ Million Industry Trends, Opportunities and Forecasts - ResearchAndMarkets.com

The "Global Algae Protein Market - Industry Trends, Opportunities and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.

The global algae protein market is expected to grow at a CAGR of 7.03% to reach a total market size of US$0.838 billion by 2023, increasing from US$0.596 billion in 2018.

Growing global population is increasing the demand for protein worldwide as a result of which sustainable plant-based protein sources are gaining popularity to meet the growing global demand for protein-rich food. The global demand for algae protein is augmenting on account of high protein content in algae as compared to that in other plant-based protein sources including soy and pea.

According to the Environmental Working Group (EWG), the production, processing, and distribution of meat results in the high usage of pesticides, fertilizer, feed, fuel, and water while releasing greenhouse gases in the environment. As a result of the negative environmental impact of meat consumption, there is a growing shift towards alternative sources of protein, thereby positively impacting the growth of global algae protein market. However, factors such as high cost of extracting protein from algae and the availability of cheap substitutes in abundance will hamstring the growth of global algae protein market during the forecast period.

Segmentation

By Type

• Spirulina
• Chlorella
• Seaweed
• Others

By End User

• Dietary Supplements
• Food Items
• Animal Feed
• Pharmaceutical
• Cosmetics and Personal Care

By Geography

• North America
• South America
• Europe
• Middle East and Africa
• Asia Pacific
  

Companies Mentioned

• Corbion Biotech, Inc.
• Nutrex Hawaii
• Cyanotech Corporation
• Earthrise Nutritional
• Far East Bio-Tec Co., Ltd. (ALGAPHARMA BIOTECH CORP.)
• Algatechnologies Ltd.
• Nutress

For more information about this report visit https://www.researchandmarkets.com/research/hctsjm/global_algae?w=4

View source version on businesswire.com: http://www.businesswire.com/news/home/20180209005673/en/