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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Algae Proteins market. Market segmentation includes Product (Spirulina, Chlorella, and Other Products); Source (Freshwater, and Marine); Application (Dietary Supplements, Food Products, Animal Feed, and Other Applications).

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24 November 3:44 a.m., Silicon Valley, California - According to the new market research report, the global market for Algae Proteins is projected to grow at a CAGR of 6.6% to reach US$1.2 billion by 2027, driven by demand from food & feed industries, need for non-meat source of proteins, vegan practices, and requirement from enzyme production. The global Algae Proteins market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Spirulina, one of the product segments analyzed and sized in this study, is forecast to grow at over 7.1% and reach a market size of US$698 million by the end of the analysis period. The United States is forecast to readjust to a 6.7% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$109.2 million growing at a CAGR of 5.0% over the next couple of years. In addition, over US$74.5 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Freshwater source will reach a market size of US$44.9 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Dietary Supplements application segment in this country against this backdrop will grow at a CAGR of 8.7% over the next couple of years to create an addressable market opportunity worth US$100.6 million by the year 2027.

Burgeoning global population along with factors like increasing income, preferential shifts and evolving socio-economic demographic requires resources to provide more and diverse forms of foods, including proteins. However, there are negative ecological and sustainability implications associated with large-scale animal protein production. Animal farming is known for its notable contribution toward greenhouse gas emissions. The need has resulted in emergence of alternative sources of proteins and food. Alternative proteins such as pea and wheat proteins are garnering significant research and financial investments. The trend shines light on algal proteins that are key pathways for satiating food and nutritional requirements in a sustainable and healthy manner. Algae proteins denote a sustainable source of proteins, and even have the capability to upend meat as the major source of protein in future. Moreover, algae proteins are also a key source of protein for consumers practicing vegan diet. Apart from the environmental and vegan credentials, the primary driver of algae proteins is the demand for healthy food, owing to the increasing consciousness for healthy lifestyles. Health foods such as health drinks and functional beverages are increasing in popularity owing to their health benefits as well as their refreshing capabilities. Algae proteins such as chlorella find extensive application within health foods and functional beverages, driving the market for algae proteins across the globe. The demand from pharmaceutical and skin care industries is expected to drive demand for algae proteins in future. In addition to the protein content, algae proteins also offer multiple benefits including vitamins & minerals, as well as essential fatty acids such as Omega-3 and Omega-6, further driving the demand for algae proteins. In addition, algae proteins are deemed to improve immunity levels, and also aid in weight loss, and other benefits such as managing stress and depression. As a result of the multiple benefits of algae proteins, demand for the products has been increasing at a healthy rate.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 383. Among this pool, 77 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 13 unique participations, a total of 6 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Corbion NV
Cyanotech Corporation
Heliae Development LLC
Nutrex Hawaii
TerraVia Holdings, Inc.
Rainbow Light
Allmicroalgae - Natural Products SA
Earth Rise Nutritionals, LLC
Energybits, Inc.
Nutress BV
Plant Head
FEBICO (Far East Bio-Tec Co., Ltd.)

Segments Covered in the Report -
Product (Spirulina, Chlorella, Other Products)
Source (Freshwater, Marine)
Application (Dietary Supplements, Food Products, Animal Feed, Other Applications)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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