Algal Protein Market is set to Reach US$ 1010 Mn by 2032

NEWARK, Del, Aug. 10, 2022 (GLOBE NEWSWIRE) — The global algal protein market is anticipated to create an absolute dollar opportunity by generating a revenue of US$ 700 Mn by the end of 2022. The sales of algal protein are expected to exceed US$ 1,010 Mn by 2032, projecting growth at a robust CAGR of nearly 8% to 9% during the forecast period 2022-2032. There is a massive consumer shift seen in the market from adopting animal-based proteins to plant-based protein alternatives is estimated to augment the demand for algal protein.

Algae is known as an abundant form of plant life that contains chlorophyll, found in both freshwaters and marines as well. Algal protein is the protein derived from algae, ranging from single-cell microalgae to large seaweeds. The protein derived from different algae, such as microalgae and seaweed, contains high protein levels.

The algal proteins are commonly extracted from specific types of algae such as blue algae, green algae, and red algae which has the ability to be processed into various forms including pastes, liquids, powder, and capsules. Algae living in marine waters contain approximately 60% of protein of their weight, which is way higher in comparison to algae living in freshwater.

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Key Takeaways

  • Some algae such as chlorella and spirulina compose high protein content and other freshwater algal proteins that are majorly derived from spirulina are one of the richest sources of protein containing all essential minerals, amino acids, and carotenoids. Therefore, increasing consumption of algal proteins, owing to the growing awareness regarding their health benefits is estimated to bolster sales in the global market.
  • Algal proteins that are extracted from freshwater and marine water are gaining massive popularity among industries such as food & beverage, cosmetics, and animal feed owing to their excellent nutritional capabilities, amino acid profile, cell damage repairing properties, and others.
  • There is a wide range of application of these proteins across the nutrition and supplement sectors, as consumption of algal proteins assist in boosting the immune system, reducing fatigue, improving digestion, building endurance, and boosting energy levels. Owing to these numerous health benefits, algal proteins are gaining traction amongst athletes, sportspersons, bodybuilders, and others, thereby facilitating the growth in the market.
  • A swift inclination towards veganism and vegetarianism is also being witnessed across the globe, resulting in the rising awareness concerning physical health, animal welfare, and ethical reasons. This significant rise in the vegan and vegetarian population is estimated to accelerate the sales of plant-based proteins such as algal proteins, thereby bolstering the growth in the global market.

competitive landscape

Far East Microalgae Industries, Co., Ltd., Bio-engineering Co., Ltd., Tianjin Norland Biotech Co., Ltd., Prolgae, NB Laboratories, Cyanotech Corporation, CBN, Gong Bih Enterprise Co., Ltd., Taiwan Chlorella Manufacturing Company Ltd, Algenol Biotech, Fuqing King Dnarmsa Spirulina Co., Ltd., Sun Chlorella Corporation are some of the key companies profiled in the full version of the report.

Leading players are aiming at launching new products and expanding their production capacity to gain an edge in the highly competitive market. Key supplement manufacturers are increasingly emphasizing launching novel plant-based protein products to capitalize on the existing opportunities.

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More Insights into the Algal Protein Market

The North American region is anticipated to dominate the global algal protein market by accounting for the maximum market share between 2022 and 2032, states Future Market Insights.

Countries including Canada and the US are witnessing a significant rise in the burden of diseases such as thrombosis, atherosclerosis, cancers, and arthritis, creating strong demand for preventive supplements.

According to a study conducted by the American Cancer Society, nearly 1.9 million new cases of cancers were estimated to be diagnosed across the US, causing around 608,570 fatalities in the year 2021. The surge in such lethal diseases has led to a significant rise in the demand for algal protein in the global market.

Algal protein is increasingly being prescribed for the prevention of chronic diseases as it contains omega-3 fatty acids and carotenoids which assist in enhancing the immune system, improving cardiovascular function, and reducing allergies & inflammation within the body. Thus, the growing prevalence of such diseases is projected to increase the demand for algal protein in the North American market.

According to IMF analysis, the Asia Pacific region is anticipated to project rapid growth in the global algal protein market during the forecast period 2022-2032.

Owing to the rising population of vegetarian and vegan people due to its increased health benefits, the demand for plant-based proteins is surging at a rapid pace.

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Key Segments Profiled in the Algal Protein Market Survey

By Product Form:

By Product Source:

  • Marine Algae
  • Fresh Water Algae



  • Dietary Supplements
  • Food & Beverage
  • animal feed
  • Cosmetics
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japanese
  • Middle East and Africa

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Table of Contents

1.Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2.Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3.Market Background

3.1. Market Dynamics

3.1.1. drivers

3.1.2. restrictions

3.1.3. Opportunity

3.1.4. trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

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Explore IMF’s related ongoing Coverage on Food and Beverage Domain

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Wheat Protein Market Analysis: Wheat Protein Market is estimated to be valued at USD 3.3 billion in 2022 and is projected to reach USD 5.1 billion by 2032 recording a CAGR of 4.8%.

Silk Protein Market Overview: Silk protein market is set to grow at 5.9% CAGR through 2032.

Insect Protein Market Forecast: Insect protein market is expected to witness a prominent CAGR of 9.2% to reach the value of USD 838.5 Mn in 2032.

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Mussels Market Outlook: Mussels market is accelerating with a CAGR of 4.6% by 2022-2032.

Carnauba Wax Market Share: Carnauba wax market is anticipated to have an effective CAGR of 4.2% during the period 2022-2032.

Milk Powder Market Trends: Milk powder market is expected to grow at a CAGR of 4.5% by 2022 – 2032.

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Download complimentary copy of Future Market Insights White Paper in collaboration with PBFIA, on the Plant Based Market that throws light on potential opportunities and investments made in the Global plant based market

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