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Europe Algae Protein Market to Undertake Strapping Growth $250 Mn by 2026

Author : Ronak Bora | Published Date : 2021-09-03 

Europe algae protein market size is anticipated to exceed USD 250 million through 2026. The growing demand for vital nutrients is likely to drive Europe algae protein industry forecast through the next five years. According to the United Nations, there will be around 9.8 billion people on the planet by 2050, necessitating the production of a massive amount of protein per year, approximately 50% more than the current consumption.

With increasing food demand, the development of more sustainable production techniques is becoming vital. That is why, Europe is increasingly embracing algae proteins. Terravia Holdings Inc., Corbion NV, Phycom, Prolgae, Roquette Klötze GmbH & Co. K, and Prairie Naturalsm.Vimergy LLC are among the leading algae protein companies in Europe.

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These factors are defining the industry trends:

Surging demand for seaweed

According to reports, the seaweed segment is anticipated to register around 7% CARG between 2020 and 2026. Because of the increasing protein shortfall, the usage of seaweed and algae as a food or dietary supplement is gaining popularity. The demand for natural and high-quality supplements in Europe has created an opportunity for regional seaweed producers.

There is an increasing need for nutraceuticals, creating strong prospects for the Europe algae protein market. From 2015 to 2019, the value of imported seaweed for human use from outside the EU grew by 8.9 %. This increase is due to growing demand and a scarcity of edible seaweed in Europe, which has resulted in higher costs.

Spirulina health benefits

Europe algae protein market share from the spirulina segment will expand at a rate of more than 8% through 2026. Spirulina is a popular consumer-choice due to its efficiency in diabetes management, cholesterol reduction, weight loss, and blood pressure reduction. It is also a great diary supplement amongst vegetarian and vegan customers. The first German algae cooperative (DAG) was established in July 2020. It has the biggest spirulina production and commercialization in Europe, with 14 production firms located in northern Germany.

Rising preference for functional foods

In 2019, the micro algae segment accounted for more than half of the total Europe algae protein market share. Humans have long consumed macroalgae, but focus is increasingly shifting to their tiny cousins, microalgae, for their nutritional potential. In 2019, the EU had 126 algae-producing firms, with 57% generating macroalgae and 43% producing microalgae. Buhler and Swiss-startup Alver, for example, collaborated to produce pasta with microalgae as a key ingredient.

The use of microalgae in functional foods holds a promising future, especially due to the COVID-driven exigency for dietary supplements. Microalgae are grown in greenhouses under protected and regulated circumstances. They have a high protein, vitamin K, and iron content, as well as important amino acids, and may be employed in a number of ways in the plant-based nutrition sector. Allmicroalgae, for example, is developing algae-based functional foods such as bread, cookies, snacks, and spreads.

Increasing demand for powered proteins

Because of their anti-inflammatory and pain-relieving properties, powder form accounted for more than USD 80 million of the Europe algae protein market during 2019. Powdered protein supplements have seen a substantial surge in popularity among customers, particularly athletes, who have been looking to satisfy their daily protein requirements.

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The COVID-19 pandemic created a spur in consumer focus toward health consciousness and a balanced diet. The rising vegan and vegetarian population in the region is a major enabler of Europe algae protein market trends.

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 market 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 Industry 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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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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