Increasing concern and awareness regarding healthy and nutritious food products have led to the demand for algae protein across the globe. The product is recognized as an essential ingredient in food and animal feed products. Algae like chlorella are used in personal care products as it promotes collagen production in the skin.
A research led by Global Market Insights, Inc., meanwhile claims that the algae protein market may surpass $1 billion by 2026.
Companies like Cyanotech Corporation, Far East Bio-Tec Co., Ltd, Phycom Microalgae, Corbion NV, TerraVia Holdings, Inc., and Heliae Development LLC among others have emerged as some of the notable industry players in the algae protein market. These firms are initiating expansion initiatives, R&D activities, partnerships, mergers & acquisitions to achieve a substantial market share and compete with the other key players.
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Citing an example, Terravia claims that its algae protein AlgaVia recorded increased traction among food manufacturers as well as pioneering plant-based brands. The company is further catering to the market requirements for new, substitute plant-based proteins which are vegan, and are being adopted as an innovative solution for a viable protein sources.
Mentioned below are some of the key trends that will foster algae protein market size over 2026:
Increased adoption of chlorella algae protein
Chlorella-based protein products have gained significant prominence as the product comprise of various active ingredients like beta-carotene, fatty acids, around 20 vitamins & minerals, dietary essential amino acids, and RNA/DNA.
Under the supervised of biologists, the cultivation process of chlorella in direct sunlight and in freshwater ponds is monitored in order to guarantee ideal nutrient quantity. The product is majorly utilized as food supplements in order to maintain gut bacteria, lower blood cholesterol, and improve immunity.
Increasing use in personal care products
Algae protein has emerged as a prominent pigmentation ingredient in the personal care sector and is increasingly used for making hair care and skin care products like lotions, ointments, and creams. It is known to be oxygenic photosynthetic organisms which promotes blood circulation, moisture levels, normalizes the functioning of sebaceous gland and keeps the skin well-hydrated.
Proliferating demand for algae protein capsules
According to research report, the demand from algae-based protein capsules is anticipated to surge significantly, with profit growing over 6% by 2026, owing to rising product demand among sports athletes.
Algae protein capsules are easy to carry compared to liquid or powdered form. Meanwhile, a research conducted by NASA suggests consumption of capsules as primary food might be vital in long-term space missions.
Rising demand across Europe
The algae protein market of Europe is expected to grow by over 6% over the forthcoming timeframe. Rising health concerns, changing food habits and busy lifestyles have led consumers in Europe to spend much more on nutritional supplements in order to provide suitable nutrients to the body.
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The EC (European Commission) considers chlorella and spirulina protein products to be safe for human use. These products are extensively sold as functional foods due to their high vitamin, mineral content as well as neutral flavor.
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