Algae emerged as a new alternative for food and are cultivated globally utilized for providing human nutrition. This is due to the fact that algae hold a strong potential in being cultivated in areas that are not suitable for growing plants, thus, they are not affected by the seasonality. At present, the most commonly consumed algae proteins are from the Chlorella and Spirulina due to their rich protein content and other bioactive compounds. Algae protein is further utilized as a feed supplement in aquaculture and poultry industries too apart from being used for human nutrition supplements.

This report provides forecast and analysis of the global algae protein market which is estimated to grow at a good CAGR of 6.85% over the forecast period 2019-2024. The surge in market growth is attributed to the growing population worldwide, further increasing the demand for proteins and protein-rich food. Also, the growing popularity of algae-based protein is due to the high-protein content of algae comprising of around 50% to 60% of protein content compared to other plant-based protein sources like soybean. Furthermore, growing consumer awareness regarding the protein intake with the changing dietary patterns is fueling the market demand during the forecast period.

Geographically, North America is expected to hold a significant market share followed by the Asia Pacific region to be the fastest-growing. Additionally, with the growing trend towards the consumption of alternative sources of protein apart from animal protein is further impacting the market growth in a positive manner. However, the wide availability of cheaper substitutes may pose a risk in hampering the growth of the global algae protein market in the forecast period.

Some of the major players covered as part of the report are Cyanotech Corporation, Far East Bio-Tec Co., Ltd., and Algatechnologies Ltd. among others.

This report segmented the global algae protein market on the basis following terms:

• By Type
o Spirulina
o Chlorella
o Seaweed
o Others
• By End-User
o Dietary Supplements
o Food Items
o Animal Feed
o Pharmaceutical
o Cosmetics and Personal Care
• By Geography
o North America
o South America
o Europe
o Middle East and Africa
o Asia Pacific

Purchase complete report or request sample: https://www.knowledge-sourcing.com/report/global-algae-protein-market

Knowledge Sourcing Intelligence is a market research and consulting firm based out of India. Driven by industry experts, the company provides syndicated reports, custom research, and consulting services. Our proprietary data analytics model blended with quality primary and secondary research data, assists in generating quality reports providing crucial insights to managers and decision-makers. The services offered by us helps companies to gain required competitive edge. Our expertise across 10 industries such as ICT, Chemicals, Semiconductors, Healthcare among others caters to diverse client needs.