Algae Proteins Market is Estimated to Flourish from US$ 3.7 Bn in 2023 to hit a Revenue of US$ 8.29 Bn by year 2033-end. Data Report by Future Market Insights, Inc. Experts. – GlobeNewswire

December 06, 2022 21:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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DUBAI, United Arab Emirates, Dec. 06, 2022 (GLOBE NEWSWIRE) — According to Future Market Insights’ most recent market estimate, the algae proteins market is worth US$ 3.7 billion in 2023. A CAGR of 8.4% is anticipated in the market during the forecast period.

Algae proteins are becoming more popular owing to their superior nutritional content and sustainability. It is projected that consumers’ growing desire for plant-based proteins and their increasing concern for their health is likely to increase demand for algae proteins.
As the demand among consumers for products that boost immunity and promote metabolism rises, it is anticipated that sales of algae proteins capsules are likely to grow. Pills and capsules are simpler to transport than powdered or liquid dosage forms, which should support the growth of the capsule dosage form industry.
With more nutrients, a strengthening effect on the immune system, and other health advantages, manufacturers can search for the best market opportunities.
Customers’ preferences for plant-based and other meat substitutes have also changed as a result of growing sustainability worries, such as the increased greenhouse gas emissions and biodiversity loss associated with the production of meat.
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Additionally, the single-celled green algae genus chlorella has demonstrated promising results in detoxifying the body and lowering cholesterol levels, which boosts the market share for algae proteins.
However, humidity and climate are also the key determinants of algae cultivation. The effects of various climatic factors on algae farming may make it more difficult to adopt algae proteins in the coming years.
Asia Pacific accounted for the largest market share due to the rising exports and regional demand for ingredients made from plants. Due to its easy access to raw materials, China is one of the region’s top producers of plant-based compounds.
Key Takeaways
Competitive Landscape
Top corporations in the market are also looking to utilize their distribution ties with organizations across numerous industries by merging or acquiring in order to utilize the customer base for any prospective product launches.
AlgoSource SA, Cyanotech Corporation, Duplaco B.V, Roquette Freres, Seagrass Tech Private Limited, and others are some major players in the market.
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Table of Content
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. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
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