Future Prospects of Algae Protein Market
DESCRIPTION The global algae protein market is expected to grow at a CAGR of 6.85% to reach US$886.802 million by 2024, from US$596.027 million in 2018. The growing global population is increasing the demand for protein worldwide as a result of which sustainable plant-based protein sources are gaining popularity to meet the growing global demand for protein-rich food. The existing methods of obtaining protein are not sustainable to meet the ever growing demand and as such, the alternative sources of protein, especially the plant-based protein, are gaining popularity.
Some Key Questions Answered By The Report
What will be Global Algae Protein Market from 2019 to 2024? How are the major drivers and restraints affecting the Global Algae Protein Market. growth and the opportunities which exist for key vendors? Which segment and region will drive or lead the market growth and why?
Health Benefits of Algae Protein The product is a perfect source of plant protein and has a range of health benefits. Another company, ADM has partnered up with algae cultivator company Qualitas Health to offer three different Onavita DHA and Almega EPA blends. These blends contain omega-3, omega-6 and omega-9. On October 15, 2018, KYN Capital Group Inc. announced that it had completed the acquisition of Algae World Inc., which is a manufacturer of algae protein products that are derived from blue-green algae and has many subsidiaries worldwide.Â
end-user industries of Algae Protein Market  Algae protein is used in many of the end-user industries such as ass dietary supplements, food, food additives, pharmaceutical, and cosmetics.  Algae-based proteins have been used in dietary supplements for quite some time are an essential and rich protein source.  The pharmaceutical industry is also witnessing the use of algae protein in some of the medicines in order to supplement the mineral or vitamin deficiencies and hold the potential to increase over the forecast period.
Geography
North America
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United States
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Canada
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Mexico
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Others
South America
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Brazil
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Argentina
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Others
GEOGRAPHY Europe Germany France Italy United Kingdom Others
Middle East and Africa Israel Saudi Arabia UAE Others
Asia Pacific Japan China India Others
ALGAE PROTEIN MARKET : MARKET DYNAMICS The expected increase in global population in the coming years will stimulate
the demand for protein thereby, driving the demand for algae proteins as well. According to the United Nations, the global population is significantly booming and is expected to reach 9.8 billion in 2050 from 7.6 billion currently. Expanding urbanization and improving living standards is posing a challenge on existing food production techniques and available resources. The growing consumption of seaweed as a source of protein in Western
economies is expected to offer substantial opportunities for the algae protein market players in the coming years.
SEGMENT ANALYSIS
We have included all segments of this market in market
research report. This Market has been segmented by Type, by End User
Industry, and Geography with country level analysis For complete segment information visit us https://www.knowledge-sourcing.com/resource/blogs/algae-protein-a -popular-trend-in-the-food-and-beverage-industry
COMPANY PROFILES Corbion Biotech, Inc. Nutrex Hawaii Cyanotech Corporation Earthrise Nutritional Far East Bio-Tec Co., Ltd. (ALGAPHARMA BIOTECH CORP.) Algatechnologies Ltd. Phycom Microalgae.
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