Top Companies in Algae Protein Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Algae Protein Market is projected to reach a value of USD 4,700.6 Million by 2028 at a CAGR of 8.1% over the forecast period.
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The Global Algae Protein Market is valued at USD 2,945.8 Million in 2021 and is projected to reach a value of USD 4,700.6 Million by 2028 at a CAGR of 8.1% over the forecast period. The sector for algae protein will benefit significantly from an increase in the consumption of protein supplements in APAC emerging nations.
During the forecast, the market for algal protein is anticipated to expand owing to factors like the growing vegan population, high product usage in food and beverage applications, and growing consumer awareness of the benefits of a healthy lifestyle.
The Indian sports nutrition industry has grown significantly over the past few years due to the nation's expanding sports culture. Sales of health supplements and energy drinks have increased dramatically due to the growing population of sportsmen and bodybuilders, as well as a vital sports infrastructure. Also, the pandemic has significantly increased demand for functional foods and nutraceuticals worldwide, creating a lucrative potential for producers of algal proteins.
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Due to the wide range of health advantages provided by marine algae and its predominance in Asian cuisine, seaweed is becoming more and more popular in western nations. Also, the need for health supplements to strengthen the immune system would increase due to rising health awareness and the prevalence of infectious diseases. Due to increased worries about the virus spread, the development of COVID-19 alone hastened the sale of nutritional supplements. In addition, the creation of brand-new plant-based protein supplements is anticipated to fuel segment demand.
The Global Algae Protein market is dominated by well-known players like Cyanotech Corporation (US), ENERGY bits Inc. (US), Far East Bio-Tec Co. Ltd. (China), Prairie Naturals (Canada), E.I.D. - Parry Limited (India), Rainbow Light (US), Earthrise Nutritional (US), NOW Foods (India), and Vimergy LLC (US) among others. As well, a lot of participants in the market make the worldwide algae protein sector quite competitive. For end-user industries like cosmetics, animal feed, and food & beverage, the leading corporations are concentrating on capacity expansions, collaborations, mergers & acquisitions, and new product developments.
Let’s Take a Look at the Top Market Players that are Captivating the Algae Protein Market
- Cyanotech Corporation (US)
The Cyanotech Corporation uses microalgae to create natural products. The business sells NatuRose natural astaxanthin, utilized worldwide in animal feed and agriculture. Moreover, Cynotech offers phycobiliproteins, fluorescent pigments used in the immunological diagnostics industry, and Spirulina Pacifica, a dietary supplement rich in nutrients.
- Far East Bio-Tec Co. (China)
Taiwan-based FEBICO (Far East Bio-Tec co. Ltd.) is a reputable production and research organization for microalgae. The business has been selling high-quality spirulina and chlorella products to research, cosmetic, and nutritional supplement industries worldwide.
- E I.D. - Parry Limited (India)
E.I.D. - Parry (India) Ltd. is a well-rounded producer of seeds, sugar, ceramics, insecticides, fertilizers, and electronics. The business is also branching out into producing acetic acid, wall tiles, organic fertilizers, and bio-pesticides.
- Rainbow Light (US)
All of Rainbow Light's formulas start with a foundation of healthy, whole foods. They are designed to give components the finest possible potencies, forms, and combinations for absorption and effectiveness. To support all bodily systems, they meticulously blend pure foods, botanical extracts, and nutrients in potency appropriate for the targeted health purpose. The business offers the top-selling organic prenatal, female, and male vitamins.
- Earthrise Nutritional (US)
The Earthrise pioneers created the first spirulina farm in the sweltering California desert in 1982. With their GMP-approved, 100% sustainable facility in California, they still produce the best spirulina in the world.
- NOW Foods (India)
Elwood Richard founded NOW in 1968, and since then, it has developed from a modest family business to a renowned producer of natural health goods. Around 1,500 dietary supplements, natural foods, sports nutrition, and personal care products are produced and sold by NOW. In addition, NOW has a cutting-edge manufacturing plant that has been GMP certified since 2000 and some of the greatest quality testing laboratories in the business.
- Prairie Naturals (Canada)
A privately held company with its main office in Canada's British Columbia region is called Prairie Naturals. Its primary business is developing, marketing, and distributing more than 200 high-end nutritional supplements, natural hair care products, and body care products made from natural ingredients. Hundreds of retail locations throughout Canada sell products under the Prairie Naturals brand.
- Vimergy LLC (US)
Vimergy was founded in 2012, and since then, the company has thoroughly investigated and tested each of its products. As a result, they have consistently produced non-GMO, gluten-free, soy-free, vegan, and paleo-friendly vitamins.
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