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North American Algae Protein Market - Forecast(2023 - 2028)
North America Algae Protein Market Overview
North America Algae Protein Market size is projected to reach $700 million by 2026, growing at a CAGR of 6.5% over the period 2021-2026. Algae protein is derived from algae that contains essential and non-essential amino acids in order to develop the quality of proteins. Blue algae and green algae are some kinds of proteins that are grown in fresh water and marines and are used in dietary supplements. Algae is an integral part of food chain that is used as an alternative protein source and offers vitamins, minerals. There are various types of algae proteins that are used for human and animal nutrition as well as aquaculture. Currently, spirulina and chlorella algae proteins are used for supplementing animal feed owing to their nutritional benefits and high level of protein. Algae is also used in the production of biofuel but it is too expensive to be available commercially. The increasing prevalence of obesity and cardiovascular diseases among people and rising consumption of healthy food and beverages products owing to increasing consciousness about diet is the major factor driving the growth of North America Algae Protein Market. Furthermore, growing development in food and beverage industry and rising research and development activities is set to further enhance the overall market demand for North America Algae Protein Market for the period 2021-2026.
Report Coverage
The report: “North America Algae Protein Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the North America Algae Protein Market.
By Type: Spirulina, Chlorella, and Others
By Form: Powder, Tablet, and Liquid
By Application: Functional Food and Beverages, Nutritional and Dietary Supplements, Animal Feed, Pharmaceuticals, Cosmetics & Personal Care Products, and Others.
By Country: U.S., Canada, and Mexico
Key Takeaways
- In 2020, U.S. dominated the North America Algae Protein Market owing to rising awareness of consuming healthy foods, increasing vegan population and growing research in food and beverage industry.
- Furthermore, increasing prevalence of obesity and cardiovascular diseases among people and rising consumption of healthy food and beverages products owing to increasing consciousness about diet are enhancing the growth of the North America Algae Protein Market.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the North America Algae Protein Market report.
- High cost associated with algae protein products are set to restrain the growth for the North America Algae Protein Market.
North America Algae Protein Market Size, By Form 2020-2026 (USD Million)
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North America Algae Protein Segment Analysis – By Type
Based on Type North America Algae Protein Market can be further segmented into Spirulina, Chlorella, and Others. The Spirulina segment hold the major share in 2020. This is mainly owing to its nutritional benefits such as anti-hypertension, renal protective, anti-hyperlipidaemia, and anti-hyperglycaemic that increases the use of spirulina in plant based foods. Moreover, easy digestibility, high protein, vitamin and mineral content increases the preference of spirulina algae protein among consumers. The Chlorella segment is estimated to register the fastest CAGR of 7.1% for the period 2021-2026. This is mainly owing to the increasing consumption of dietary supplements as chlorella ingredients which are mostly used in health drinks owing to its refreshing taste and more nutritional benefits that increases the adoption of chlorella algae proteins products among consumers that are boosting the growth of North America Algae Protein Market.
North America Algae Protein Segment Analysis – By Form
Based on Form North America Algae Protein Market can be further segmented into Powder, Tablet, and Liquid. The Powder segment recorded for the highest North America Algae Protein market share in 2020. This is mainly owing to its easy and flexible property that helps in mixing the algae protein with meal which increases the preference of consumers towards powder form. Moreover, new flavors of algae protein are mostly available in powdered form that increases the adoption among consumers. The Tablet segment is forecasted to register the fastest CAGR of 7.9% over 2021-2026. This mainly owing to the fact that algae protein tablets contains more protein that increases the demand of tablets among consumers that are driving the growth of North America Algae Protein Market.
North America Algae Protein Segment Analysis – By Geography
U.S. dominated the North America Algae Protein Market with major share of 39.7% in 2020. This is owing to rising consumption of vegan based diet, increasing awareness about the health and growing research in food and beverage industry. Moreover, various regulatory agencies such as FDA (Food and Drug Administration) are approving algae protein products that increase the preference among consumers and are boosting the growth of North America Algae Protein Market.
However, Canada is estimated to be a significant growing market during the forecast period 2021-2026 owing to rising popularity of algae protein products among consumers. Moreover, rising health benefits of algae protein increase the production of algae protein and are driving the growth of North America Algae Protein Market.
North America Algae Protein Market Drivers
Increasing Prevalence of Obesity and Cardiovascular Diseases
Rising prevalence of obesity and cardiovascular diseases increases the demand for healthy supplements that rising the production of algae protein products are driving the growth of North America Algae Protein Market. According to Center for Disease Control and Prevention (CDS), about 42.5% of adults are suffering from obesity in 2019 that increases the preference of healthy diets among population which expanding the need of algae protein are therefore boosting the growth of the North America Algae Protein Market over 2021-2026.
Rising Consumption of Healthy Food and Beverages Products
Changing lifestyle and busy schedule among people increases the need of healthy food and beverages products that are driving the growth of North America Algae Protein Market. Moreover, rising preference for plant protein sources than animal protein among consumers owing to rising environmental concerns increasing the demand for algae protein products and are driving the growth of North America Algae Protein Market over 2021-2026.
Covid-19 Impact:
COVID-19 pandemic had greatly affected the growth of North America Algae Protein Market. During pandemic, people are looking for healthy products that helps to increase their immunity which increases the production of algae protein products and are positively impacted the growth of North America Algae Protein Market.
North America Algae Protein Market Challenges
High Cost Associated with Algae Protein Products
The factor that is set to impede the growth of the North America Algae Protein Market are the rising regulatory approval of algae protein products that decreases the production and limits the number of manufacturer which are set to create hurdles for the North America Algae Protein Market.
North America Algae Protein Landscape
Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the North America Algae Protein Market. North America Algae Protein top 10 companies are Corbion Biotech, NP Nutra, Algama, Arizona Algae Products, LLC, Global Algae Innovations, Inc., Algenol Biotech LLC, Triton Algae Innnovations, Pond Technologies Holdings Inc., Earthrise Nutritionals LLC., and Cyanotech Corporation.
Development
- In December 2019, Corbion Biotech Inc. has partnership with Nestle in order to develop protein-rich Microalgae-Based Ingredients that increases the sales of algae protein products and are further increasing its market growth.
Relevant Reports:
Report Code: FBR 0063
Report Code: FBR 88773
For more Food and Beverage Market related reports, please click here
1. North America Algae Protein Market Overview
1.1 Definitions and Scope
2. North America Algae Protein Market Executive Summary
2.1 Market Size and Key Trends
2.2 Key trends by Type
2.3 Key trends by Form
2.4 Key trends by Application
2.5 Key trends by Country
3. North America Algae Protein Market Landscape
3.1 Market Share Analysis- Key Companies
3.2 Product Benchmarking- Key Companies
3.3 Financial Analysis - Key Companies
3.4 Patent Analysis
3.5 Pricing Analysis
4. North America Algae Protein Market- Startup companies Scenario Premium Premium
4.1 Key startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Application Analysis
4.1.4 Venture Capital and Funding Scenario
5. North America Algae Protein Market- Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case Studies of successful ventures
6. North America Algae Protein Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters Five Force Model
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Powers of Customers
6.3.3 Threat of New Entrants
6.3.4 Rivalry Among Existing Players
6.3.5 Threat of Substitutes
7. North America Algae Protein Market Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. North America Algae Protein Market – By Type (Market Size -$Million/$Billion)
8.1 Spirulina
8.2 Chlorella
8.3 Others
9. North America Algae Protein Market – By Form (Market Size -$Million/$Billion)
9.1 Powder
9.2 Tablet
9.3 Liquid
10. North America Algae Protein Market– By Application (Market Size -$Million/$Billion)
10.1 Functional Food and Beverages
10.2 Nutritional and Dietary Supplements
10.3 Animal Feed
10.4 Pharmaceuticals
10.5 Cosmetics & Personal Care Products
10.6 Others
11. North America Algae Protein Market- By Country (Market Size -$Million/$Billion)
11.1.1 U.S.
11.1.2 Canada
11.1.3 Mexico
12. North America Algae Protein Market Entropy
13. North America Algae Protein Market- Industry / Segment Competition landscape Premium Premium
13.1 Market Share Analysis
13.1.1 Market Share by Country- Key companies
13.1.2 Competition Matrix
13.1.3 Best Practices for Companies
14. North America Algae Protein Market- Key Company List by Country Premium Premium
15. North America Algae Protein Market Company Analysis
15.1 Company Revenue, Products, M&A, Developments
15.2 Company 1
15.3 Company 2
15.4 Company 3
15.5 Company 4
15.6 Company 5
15.7 Company 6
15.8 Company 7
15.9 Company 8
15.10 Company 9
15.11 Company 10
"*Financials for private companies would be provided on a best efforts basis”.
LIST OF TABLES
1.Global Market Segmentation Market 2019-2024 ($M)1.1 By Type Market 2019-2024 ($M) - Global Industry Research
1.1.1 Spirulina Market 2019-2024 ($M)
1.1.2 Chlorella Market 2019-2024 ($M)
1.2 By Application Market 2019-2024 ($M) - Global Industry Research
1.2.1 Dietary Supplements Market 2019-2024 ($M)
1.2.2 Food Products Market 2019-2024 ($M)
1.2.3 Animal Feed Market 2019-2024 ($M)
1.2.4 Sports Nutrition Market 2019-2024 ($M)
2.Global Market Segmentation Market 2019-2024 (Volume/Units)
2.1 By Type Market 2019-2024 (Volume/Units) - Global Industry Research
2.1.1 Spirulina Market 2019-2024 (Volume/Units)
2.1.2 Chlorella Market 2019-2024 (Volume/Units)
2.2 By Application Market 2019-2024 (Volume/Units) - Global Industry Research
2.2.1 Dietary Supplements Market 2019-2024 (Volume/Units)
2.2.2 Food Products Market 2019-2024 (Volume/Units)
2.2.3 Animal Feed Market 2019-2024 (Volume/Units)
2.2.4 Sports Nutrition Market 2019-2024 (Volume/Units)
3.North America Market Segmentation Market 2019-2024 ($M)
3.1 By Type Market 2019-2024 ($M) - Regional Industry Research
3.1.1 Spirulina Market 2019-2024 ($M)
3.1.2 Chlorella Market 2019-2024 ($M)
3.2 By Application Market 2019-2024 ($M) - Regional Industry Research
3.2.1 Dietary Supplements Market 2019-2024 ($M)
3.2.2 Food Products Market 2019-2024 ($M)
3.2.3 Animal Feed Market 2019-2024 ($M)
3.2.4 Sports Nutrition Market 2019-2024 ($M)
4.South America Market Segmentation Market 2019-2024 ($M)
4.1 By Type Market 2019-2024 ($M) - Regional Industry Research
4.1.1 Spirulina Market 2019-2024 ($M)
4.1.2 Chlorella Market 2019-2024 ($M)
4.2 By Application Market 2019-2024 ($M) - Regional Industry Research
4.2.1 Dietary Supplements Market 2019-2024 ($M)
4.2.2 Food Products Market 2019-2024 ($M)
4.2.3 Animal Feed Market 2019-2024 ($M)
4.2.4 Sports Nutrition Market 2019-2024 ($M)
5.Europe Market Segmentation Market 2019-2024 ($M)
5.1 By Type Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Spirulina Market 2019-2024 ($M)
5.1.2 Chlorella Market 2019-2024 ($M)
5.2 By Application Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Dietary Supplements Market 2019-2024 ($M)
5.2.2 Food Products Market 2019-2024 ($M)
5.2.3 Animal Feed Market 2019-2024 ($M)
5.2.4 Sports Nutrition Market 2019-2024 ($M)
6.APAC Market Segmentation Market 2019-2024 ($M)
6.1 By Type Market 2019-2024 ($M) - Regional Industry Research
6.1.1 Spirulina Market 2019-2024 ($M)
6.1.2 Chlorella Market 2019-2024 ($M)
6.2 By Application Market 2019-2024 ($M) - Regional Industry Research
6.2.1 Dietary Supplements Market 2019-2024 ($M)
6.2.2 Food Products Market 2019-2024 ($M)
6.2.3 Animal Feed Market 2019-2024 ($M)
6.2.4 Sports Nutrition Market 2019-2024 ($M)
7.MENA Market Segmentation Market 2019-2024 ($M)
7.1 By Type Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Spirulina Market 2019-2024 ($M)
7.1.2 Chlorella Market 2019-2024 ($M)
7.2 By Application Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Dietary Supplements Market 2019-2024 ($M)
7.2.2 Food Products Market 2019-2024 ($M)
7.2.3 Animal Feed Market 2019-2024 ($M)
7.2.4 Sports Nutrition Market 2019-2024 ($M)
LIST OF FIGURES
1.US North American Algae Protein Market Revenue, 2019-2024 ($M)2.Canada North American Algae Protein Market Revenue, 2019-2024 ($M)
3.Mexico North American Algae Protein Market Revenue, 2019-2024 ($M)
4.Brazil North American Algae Protein Market Revenue, 2019-2024 ($M)
5.Argentina North American Algae Protein Market Revenue, 2019-2024 ($M)
6.Peru North American Algae Protein Market Revenue, 2019-2024 ($M)
7.Colombia North American Algae Protein Market Revenue, 2019-2024 ($M)
8.Chile North American Algae Protein Market Revenue, 2019-2024 ($M)
9.Rest of South America North American Algae Protein Market Revenue, 2019-2024 ($M)
10.UK North American Algae Protein Market Revenue, 2019-2024 ($M)
11.Germany North American Algae Protein Market Revenue, 2019-2024 ($M)
12.France North American Algae Protein Market Revenue, 2019-2024 ($M)
13.Italy North American Algae Protein Market Revenue, 2019-2024 ($M)
14.Spain North American Algae Protein Market Revenue, 2019-2024 ($M)
15.Rest of Europe North American Algae Protein Market Revenue, 2019-2024 ($M)
16.China North American Algae Protein Market Revenue, 2019-2024 ($M)
17.India North American Algae Protein Market Revenue, 2019-2024 ($M)
18.Japan North American Algae Protein Market Revenue, 2019-2024 ($M)
19.South Korea North American Algae Protein Market Revenue, 2019-2024 ($M)
20.South Africa North American Algae Protein Market Revenue, 2019-2024 ($M)
21.North America North American Algae Protein By Application
22.South America North American Algae Protein By Application
23.Europe North American Algae Protein By Application
24.APAC North American Algae Protein By Application
25.MENA North American Algae Protein By Application
26.Allma, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Corbion Biotech Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Cyanotech Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Earth Rise Nutritionals, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Energybits, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Far East Bio-Tech Co., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Heliae Development LLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Klotze, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Nutress, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Nutrex Hawaii Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Plant Head, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Rainbow Light Nutritional Systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Spira, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.TerraVia Holdings Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)