According to the report, the algae protein market is projected to increase at a CAGR of 6.85% over the forecast period 2018-2024.The algae-protein market is expected to surge during the forecast period, which is attributable to the fact that people are getting health conscious and shifting towards healthier products, which contain proteins and other essential nutrients that need to be included in the diet. This is resulting in an increase in the demand of these products, thus boosting the market growth. Moreover, Due to the increasing vegan population, the demand for algae protein is increasing, as it is a plant-based product. This is going to bolster market growth further.

Geographically, North America is expected to hold a significant share in the market owing to the fact that there is high consumer awareness and about negative impacts of more consumption of meat and people are demanding other healthier protein-based products, which have minimal bad effects on the health. Asia Pacific region is also expected to increase its share in the algae protein market over the coming years due to the consumption of seaweed in some countries and rising demand for better animal protein substitutes. Based on end-user, dietary supplement segment is poised to hold a notable market share owing to the fact that there is a rise in disposable income of people and a change in their consumption pattern and preferences towards easy to make foods and beverages, which is boosting the demand for algae proteins and contribute to the market growth.

Furthermore, the rising investments and participation of key players and new product launches will also play a role in augmenting the market growth over the forecast period.



Some of the major players covered as part of the report are Corbin Biotech, Inc., Nutrex Hawaii, Cyanotech Corporation, Earthrise Nutritional, Far East Bio-Tec Co., Ltd. (ALGAPHARMA BIOTECH CORP.), Algatechnologies Ltd. and Phycom Microalgae.

This report segmented the 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
 USA
 Canada
 Mexico

o South America
 Brazil
 Argentina
 Others

o Europe
 Germany
 France
 United Kingdom
 Spain
 Others

o Middle East and Africa
 Saudi Arabia
 Israel
 Others

o Asia Pacific
 Japan
 China
 India
 South Korea
 Others

View a sample of the report or purchase a complete study at www.knowledge-sourcing.com/report/global-algae-protein-market

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