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Algae Protein Market Trends

Report ID: GMI4550
Published Date: Jun 2024
Report Format: PDF

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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.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The market size of algae protein reached USD 876 million in 2023 and is set to witness 5.4% CAGR from 2024 to 2032, led by the rising demand for sustainable and plant-based protein sources worldwide.

The seaweed source segment is projected to surpass USD 722.67 million by 2032, due to its high nutritional value and sustainable cultivation methods.

The powder dosage form segment in the algae protein industry is poised to account for USD 742.4 million by 2032, owing to its convenience, versatility, and extended shelf life.

North America market size dominated around USD 266 million in 2023 and is slated to grow at 4.8% CAGR between 2024 and 2032, led by the increasing consumer demand for plant-based and sustainable protein sources