Algae Protein Market Size - By Source (Seaweed (Brown Algae, Green Algae, Red Algae), Micro algae {Blue-Green Algae, Green Algae}), By Application (Dietary Supplements, Food & Beverage, Animal Feed, Cosmetics), Dosage Form & Forecast, 2024-2032

Algae Protein Market Size

Algae Protein Market size was valued at USD 876 million in 2023 and is anticipated to register 5.4% CAGR between 2024 and 2032, driven by the rising demand for sustainable and plant-based protein sources worldwide. For instance, in May 2024, Muscle Milk by CytoSport launched plant-based protein shakes in Chocolate and Caramel Vanilla flavors, containing 30g of protein per serving.
 

As consumers become more health-conscious and environmentally aware, there is a major shift towards foods that emphasize sustainability and reduce environmental impacts. Algae protein stands out as an eco-friendly alternative to traditional animal-derived and other plant-based proteins given its efficient agricultural production, which requires less land, water, and resources. A diet rich in algae protein, enriched with essential amino acids, vitamins, and minerals further aligns with growing trends in health and wellness, making it increasingly popular as a superfood.

Increasing investments in R&D activities leading to innovative applications and products is also fueling the market growth. Advancements in biotechnology and manufacturing processes have made it possible to incorporate algae proteins into various food and beverage (F&B) products including protein supplements, dietary supplements, and meat substitutes. For instance, in April 2024, GreenCoLab, a biotech organization specialized in algae valorization, presented its algae-based prototypes at Vitafoods for industry use. Cosmetic and personal care companies are further exploring the benefits of algae protein for its anti-aging and skin nourishment properties, driving the algae protein market growth.
 

However, the cultivation and processing of algae proteins requires specialized technologies and materials, which can be expensive, leading to higher end-product costs compared to established protein sources. The taste and uniqueness of algae-based products do not appeal to all consumers. The lack of knowledge about the benefits of algae protein may also restrict the market growth to some extent.
 

Algae Protein Market Trends

Lately, consumers are seeking customized dietary solutions that meet specific health needs and goals, further making way for the incorporation of nutrient-rich proteins into personalized nutrition plans and supplements. Algae protein is widely used in products that offer additional health benefits beyond basic nutrients, such as boosting immunity and enhancing gut health.
 

Innovations in food technology have also led to the development of tastier and more usable algae protein products, making them easier to incorporate into everyday diets. The rise of plant-based diets and veganism will continue to push the demand for algae protein as a sustainable and ethical alternative to animal-based protein. For example, in February 2024, Israeli company SimpliiGood created plant-based chicken and salmon alternatives using microalgae ingredients.
 

Algae Protein Market Analysis

Based on source, the market value from the seaweed segment is expected to cross USD 722.67 million by 2032, due to its high nutritional value and sustainable cultivation methods. Seaweed is rich in protein, vitamins, minerals, and antioxidants, making it an attractive option for health-conscious consumers looking for a nutrient-dense, plant-based source of protein.
 

Seaweed production is also eco-friendly and does not require fresh water, fertilizers, or pesticides. It also helps absorb carbon dioxide, which is helpful in keeping the marine ecosystem healthy. The versatility offered by seaweed in the kitchen, from snacks and condiments to functional food, is further enhancing the product appeal.
 

Based on dosage form, the algae protein market from the powder segment is poised to generate over USD 742.4 million by 2032, owing to its convenience, versatility, and extended shelf life. Powdered algae protein can be easily added to a wide range of products, including smoothies, shakes, baked goods, and nutritional supplements to meet a variety of consumer preferences and dietary needs.
 

Given its light weight and packed form, this form of algae protein is ideal for retail and multi-purpose applications, emerging accessible to private consumers and food manufacturers. Compared to liquid form, algae protein powder further reduces spoilage and transportation costs, emerging more affordable and profitable for mass distribution.
 

North America algae protein market size dominated around USD 266 million in 2023 and is set to witness 4.8% CAGR from 2024 to 2032, attributed to increasing consumer demand for plant-based and sustainable protein sources coupled with rising health consciousness in the region. Complex strategies for biotechnology and food innovation are facilitating advanced R&D activities, leading to the development of algal protein products that meet specific dietary needs, such as gluten-free, allergen-free, and nutrient-dense possibilities.
 

Expanding vegetarian and vegan population, as well as the increasing environmental awareness are further supporting the shift towards more environmentally friendly protein options. Supportive regulatory frameworks and government policies promoting sustainable agriculture and clean labels are also accelerating the regional market growth.
 

Algae Protein Market Share

These firms are adopting key strategies, such as investments in R&D activities to innovate and improve product lines for ensuring that they cater to different consumer needs. They are forming strategic partnerships and collaborations with food and beverage manufacturers to expand brands and reach wider audiences. Marketing efforts are also being strengthened through educational campaigns, highlighting the nutritional benefits and shelf life of algae proteins.
 

Algae Protein Market Share

Major companies operating in the algae protein industry include:

• Heliae Development LLC
• AlgalR NutraPharms Pvt Ltd
• ENERGYbits Inc
• Fuqing King Dnarmsa Spirulina Co., Ltd
• Far East Bio-Tec Co., Ltd. (FEBICO)
• Bliss Lifesciences LLP
• Cyanotech Corporation
• Euglena Co Ltd
• Roquette Klötze GmbH & Co. KG
• Veramaris
• Nutrex Hawaii Inc
• JUNE Group of Companies (JUNE Spirulina)
• Prolgae Spirulina Supplies Pvt. Ltd
• Corbion NV, Allmicroalgae
• Yunnan Green A Biological Project Co., Ltd
• JFE Steel Corporation
• Phycom Microalgae
• E.I.D. Parry (India) Limited
• Earthrise Nutritionals LLC. (DIC Corporation)
   

Algae Protein Industry News

• In September 2023, Phycom secured €9 million investment to scale microalgae production for sustainable proteins and nutritious food.
   
• In September 2022, DIC Corporation invested $9M in environmental initiatives at Earthrise and Hainan DIC to achieve zero water emission by 2023 while producing Spirulina, an edible blue-green algae and LINABLUE®.
   

The algae protein market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Tons) from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Source

• Seaweed
  • Brown Algae
  • Green Algae
  • Red Algae
• Micro algae
  • Spirulina (Blue-green algae)
  • Chlorella (Green Algae)
  • Others

Market, By Dosage Form

• Capsules
• Liquid
• Powder
• Others

Market, By Application

• Dietary Supplements
• Food & Beverage
  • Bakery & Confectionery
  • Protein Drinks
  • Breakfast Cereals
  • Snacks
• Animal Feed
• Cosmetics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Malaysia
• Latin America
  • Brazil
• Middle East & Africa
  • UAE
  • South Africa