Algae Protein Market Growth, Opportunity and Forecast 2023-2023

1. Algae Protein Market Size to Cross USD 1.3 Bn by 2032 Global Market Insights Inc.

2. Overview of Algae Protein Market • The algae protein market is predicted to be reach USD 1.3 billion by 2032, as reported in a research study by Global Market Insights Inc. • A surge in the consumption of protein supplements in developing economies of Asia Pacific will offer lucrative business prospects for the algae protein market. Over the last few years, the sports nutrition sector in India has experienced significant growth driven by the growing sports culture in the country. Due to the increasing number of athletes, and bodybuilders along with a robust sports infrastructure, health supplements, and energy drinks sales have escalated rapidly. Additionally, the pandemic has catalyzed the demand for nutraceuticals and functional foods all across the globe, resulting in substantial opportunities for algae protein manufacturers. • Algae protein market valuation from seaweed source segment is expected to surpass USD 460 million by the end of 2032. The increasing popularity of seaweed in western countries can be attributed to the myriad of health benefits offered by marine algae and its predominant use in Asian cuisine. For instance, a group of researchers from the University of Connecticut (UConn) & Connecticut Sea Grant is leveraging R&D and community outreach to improve the accessibility & profitability of seaweed in the U.S. Marine algae such as seaweed are rich in iodine, which is a crucial mineral that helps regulate and improve thyroid function. Global Market Insights Inc.

3. Continue… • Algae protein market size from capsules is set to grow at 5.5% CAGR between 2023-2032. Growing health awareness and rising prevalence of infectious diseases will accelerate the need for health supplements to boost the immune system. The emergence of COVID-19 alone expedited the sale of dietary supplements due to growing concerns associated with the spread of infection. Innovation and development of novel plant-based protein supplements are expected to pave the way for segment demand. • Cosmetics applications segment is estimated to exceed USD 160 million by 2032. The booming personal care and cosmetics sector will boost the use of algae protein in beauty products. Rising disposable income, growing demand for luxury cosmetics, and increasing beauty awareness are fostering new trends in the beauty sector such as vegan cosmetics and organic skincare. In recent years, cosmetics companies have ramped up the use of a wide variety of algal species, particularly brown kelp, red & green seaweed, and spirulina due to their anti-aging properties. A high concentration of antioxidants ensures effective combat against free radicals, preventing faster aging. Global Market Insights Inc.

4. Continue… • Europe algae protein market is expected to reach USD 320 million by 2032. A solid footprint of end-user industries such as food & beverage, cosmetics, and animal feed will propel the demand for algae protein in the region. Burgeoning population growth has emphasized on the need for large-scale production of food and food alternatives. Several EU bodies are encouraging the production of microalgae to address the growing concerns associated with food shortage. • Notable participants in the Algae Protein market include Heliae Development LLC, Fuqing King Dnarmsa Spirulina Co., Ltd, Far East Bio-Tec Co., Ltd. (FEBICO), Roquette Klötze GmbH & Co. KG, Nutrex Hawaii Inc, Prolgae Spirulina Supplies Pvt. Ltd, Cyanotech Corporation, Yunnan Green A Biological Project Co., Ltd, ENERGYbits Inc., Veramaris, Euglena Co Ltd, Bliss Lifesciences LLP, AlgalRNutraPharms Pvt Ltd Global Market Insights Inc.

5. Browse Full Research Report On Algae Protein Market@ https://bit.ly/42cYT2U Request for a sample of this research report @ https://bit.ly/3MI1KLN Global Market Insights Inc.

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