Latest report titled Algae Protein Market Size, Trends, Share, Growth, Opportunities, and Forecast 2024-2031″ by Kings Research delivers a thorough analysis of the industry, encompassing market insights. It also covers competitor and regional analysis, along with recent advancements in the market.

Algae Protein Market Overview:

The global Algae Protein Market size was valued at USD 954.2 million in 2023 and is projected to grow from USD 1,002.3 million in 2024 to USD 1,483.9 million by 2031, exhibiting a CAGR of 5.77% during the forecast period.

Market Definition:

The market encompasses the production and commercialization of protein derived from various species of algae, notably microalgae and macro algae. This market is driven by the growing demand for sustainable, plant-based protein sources that offer high nutritional value.

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List of Key Companies in Algae Protein Market:

Corbion
Cyanotech Corporation.
ALGAMA FOODS
E.I.D. – Parry (India) Limited
Earthrise Nutritionals LLC
dsm-firmenich
Key Highlights:

The algae protein industry size was valued at USD 954.2 million in 2023.
The market is projected to grow at a CAGR of 5.77% from 2024 to 2031.
North America held a market share of 37.90% in 2023, with a valuation of USD 361.6 million.
Industry Developments:

The competitive landscape is marked by strategic initiatives aimed at expanding production capacities and product portfolios:

Brevel Ltd.: In June 2024, Brevel inaugurated its first commercial facility in southern Israel, spanning 27,000 square feet. This plant is equipped to produce substantial quantities of microalgae protein powder, catering to the burgeoning global alternative protein market.

Key Growth Drivers:

Health and Wellness Trends: Consumers are increasingly seeking natural and nutrient-dense food options to support holistic health. Algae protein’s high bioavailability and comprehensive nutrient composition make it a preferred choice among health enthusiasts.

Sustainability Concerns: The environmental impact of conventional livestock farming has prompted a shift towards eco-friendly protein sources. Algae cultivation offers a lower carbon footprint, aligning with global sustainability goals.

Technological Advancements: Innovations in algae cultivation and processing technologies have enhanced production efficiency and product quality, making algae protein more accessible and appealing to a broader consumer base.

Regional Insights:

North America: Accounting for approximately 29.7% of the global market share in 2024, North America’s growth is fueled by rising health awareness and a strong demand for plant-based proteins. The U.S. market alone is projected to grow at a CAGR of 3.9% from 2025 to 2030.

Europe: With a projected CAGR of 4.7% from 2025 to 2030, Europe’s market expansion is driven by stringent sustainability regulations and a growing consumer base favoring plant-based diets. Countries like Germany and the UK are at the forefront, investing in research and development to optimize algae protein production.

Asia Pacific: Representing 22.4% of the global market share in 2024, the Asia Pacific region is poised for rapid growth. Traditional consumption of algae in countries like China and Japan, combined with increasing health consciousness, propels the demand for algae protein. China holds a significant share, accounting for 34.3% of the Asia Pacific market in 2024.

Future Outlook:

The algae protein market is poised for sustained growth, driven by continuous innovations, expanding applications, and a global shift towards sustainable and health-centric consumption patterns. As consumer awareness and technological advancements converge, algae protein is set to become a cornerstone in the future of nutrition.

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