Europe Algae Protein Market Size to Hit $250 Mn by 2026
The Europe algae protein market is set to register favorable growth over the forthcoming time period due to the rising consumption of plant-based supplements among consumers. The product has gained immense popularity among consumers who follow vegetarian diets. Besides, the multi-nutrient properties of algae protein, which are rich in fatty acids, non-essential and essential amino acids, as well as omega 3 would also be driving the market globally.
Subsequently, the rising consumers focus on the prevention of chronic diseases like hypertension, hyperlipidemia, and diabetes has also increased the demand for essential nutrients. This, in turn, is contributing to the global demand for algae protein-rich products. High consumer spending on personal care products has also fueled the demand for numerous skin care products for revitalizing and hydrating the skin. This shift is likely to create ample opportunities for the Europe algae protein market.
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The seaweed source segment is anticipated to gather substantial gains of more than 7% over the forthcoming time period. Seaweed are known to be a high source of vitamins, fibers, proteins and minerals and have anti-microbial and anti-inflammatory properties. These are essentially used for extracting algae protein since these are a rich source of protein and other nutrients. Overall, the demand for algae protein is rapidly increasing owing to the growing consumption of inexpensive and alternative protein sources.
Micro-algae such as blue-green algae segment held a large market share back in 2019. Blue-green algae, also called Cyanobacteria, are largely present in terrestrial or freshwater environments. They comprise of various bioactive compounds like phycocyanin, fibers, and carotenoids, which have been known to help boost human health.
Blue-green algae is also used to protect against oxidative stress and in decreasing inflammation. Due to these properties, the product is useful in improving the cardiovascular health conditions of humans, which has led to the increased consumption of Europe algae protein market. Additionally, consumers in the region are also choosing diet regimes that can aid in preventive care and chronic ailments. This is further expected to spur the consumption of nutritional supplements in the region.
With respect to dosage forms, in 2019, the powder segment held around $80 million of the industry share. This notable growth is further forecast to continue the momentum and progress at rapid pace over the projected period. The multi-nutrient properties of Europe algae protein market, and benefits such as anti-inflammatory, antioxidant, and pain-relieving effects are largely driving segment growth.
These benefits have encouraged consumers, especially athletes, to shift towards powdered protein supplements. Over the years, consumers across the globe are increasingly opting to lead a healthy lifestyle owing to the widespread health awareness. They are now frequently participating in numerous sports activities, and further adding up to the product demand.
In terms of application, in 2019, the dietary supplements segment dominated the overall market with a market share of more than 45%. Algae-based dietary supplements aid in enhancing the health by providing all the necessary nutrients such as vitamins, minerals, and proteins. The product is seen as a rich source of fatty acids, omega 3, non-essential and essential amino acids. The product’s numerous benefits as a source of dietary supplement has increased its demand among consumers who are mainly switching to plant-based diets.
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Prairie Naturalsm, Roquette Klötze GmbH & Co. KG, Terravia Holdings Inc., Vimergy LLC, Phycom, Far East Bio-Tec Co., Ltd, Corbion NV, Allmicroalgae, E.I.D. - Parry Limited, and Prolgae among many others are some of the key producers in the Europe algae protein market.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market definitions
1.2 Market assumptions & forecast parameters
1.3 Appendix
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
Chapter 2 Executive Summary
2.1 Europe Algae Protein industry summary, 2015 - 2026
2.1.1 Business trends
2.1.2 Source trends
2.1.3 Product trends
2.1.4 Dosage Form trends
2.1.5 Application trends
2.1.6 Country trends
Chapter 3 Europe Algae Protein Market Insights
3.1 Industry segmentation
3.2 Industry outlook, 2015 - 2026
3.3 Value Chain
3.4 Regulatory overview
3.5 Market factor analysis
3.5.1 Growth drivers
3.5.2 Growth restraints
3.6 Competition review
3.7 Porter’s analysis
3.8 PESTEL analysis
3.9 Impact of COVID-19 on alage protein demand by application
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