North America Algae Protein Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2019 |
| CAGR | 6.31 % |
| Market Concentration | High |
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North America Algae Protein Market Analysis
The North America Algae Protein Market stood at 7.12 million usd in 2021 and is projected to register a CAGR of 6.31% to reach 9.67 million usd in 2026.
- Largest Segment by Source - Supplements : The supplements segment completely dominates the algae protein market, aided by constant innovation and new entrants. However, it has not made an impact on the F&B sector.
- Fastest Growing Segment by End User - Supplements : The surging revenue of algae protein from the sports/performance nutrition sector, attributed to its sustainability, contributes to the supplements segment's leading position.
North America Algae Protein Market Trends
This section covers the major market trends shaping the North America Algae Protein Market according to our research experts:
Largest Segment By End User : <span style="font-family: 'regular_bold';color:#0e7db3;">Supplements</span>
- Supplements emerged as the largest algae protein consumer by end-users owing to its growing demand from elderly nutrition and medical nutrition segment.
- The segment is led by the promising demand for algae in the sports and elderly nutrition segments. The market is mainly benefitted by the companies constantly involved in product developments and expansions. In 2020, the US-based Arizona Algae Products initiated the construction of its state-of-the-art facility in the country. This establishment may increase the production volume of the company by more than double.
- The demand is expected to expand in other applications, such as food and beverage, with companies involved in research in the area. In 2019, Nestlé partnered with Corbion to develop microalgae-based ingredients, enabling the company to deliver sustainable, tasty, and nutritious plant-based products.
Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">United States</span>
- By country, the United States retained its top position. The demand for algal protein is rising in the country, with the recognition of the potential protein gap. Research activities are being done to make microalgae commercially viable to the mainstream industry.
- Currently, the production of microalgae is mostly done through photo-bioreactors, consisting of large glass tubes or open ponds. However, as the ingredient is gaining traction, the production is slowly moving toward industrial-scale fermenters, which is further expected to boost the market during the forecast period. The country is expected to remain the fastest-growing geographical segment, with a CAGR value of 6.59%.
- On the other hand, Canada and Mexico both captured a minor volume share in undefined, majorly driven by the supplement industry.
North America Algae Protein Industry Overview
The North America Algae Protein Market is moderately consolidated, with the top five companies occupying 49.24%. The major players in this market are Algenol Biotech LLC, Arizona Algae Products LLC, Corbion NV, Cyanotech Corporation and Pond Technologies Holdings Inc. (sorted alphabetically).
North America Algae Protein Market Leaders
Algenol Biotech LLC
Arizona Algae Products LLC
Corbion NV
Cyanotech Corporation
Pond Technologies Holdings Inc.
*Disclaimer: Major Players sorted in no particular order
North America Algae Protein Market News
- September 2017: Corbion announced the full completion of the acquisition of substantially all assets of TerraVia Holdings for USD 20 million. The acquisition gave Corbion access to Terravia's broad and diverse platform centered on innovative food and specialty ingredients derived from microalgae.
- January 2017: TerraVia’s portfolio of AlgaVia® Whole Algae Ingredients, including AlgaVia® Whole Algal Protein and AlgaVia® Whole Algal Flour, got regulatory approval from Health Canada to expand its whole algae ingredients across North America.
North America Algae Protein Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 End User Market
3.2 Regulatory Framework (*Only for the major country/countries)
3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By Country
4.1.1 Canada
4.1.2 Mexico
4.1.3 United States
4.1.4 Rest of North America
4.2 By End User
4.2.1 Supplements
4.2.1.1 Elderly Nutrition and Medical Nutrition
4.2.1.2 Sport/Performance Nutrition
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 Algenol Biotech LLC
5.3.2 Arizona Algae Products LLC
5.3.3 Corbion NV
5.3.4 Cyanotech Corporation
5.3.5 Pond Technologies Holdings Inc.
5.3.6 Roquette Frères
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Proteins CEOs
North America Algae Protein Industry Segmentation
| By Country | |
| Canada | |
| Mexico | |
| United States | |
| Rest of North America |
| By End User | ||||
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North America Algae Protein Market Research FAQs
What is the current North America Algae Protein Market size?
The North America Algae Protein Market is projected to register a CAGR of 6.31% during the forecast period (2023-2028).
Who are the key players in North America Algae Protein Market?
Algenol Biotech LLC, Arizona Algae Products LLC, Corbion NV, Cyanotech Corporation and Pond Technologies Holdings Inc. are the major companies operating in the North America Algae Protein Market.
North America Algae Protein Industry Report
Statistics for the 2023 North America Algae Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Algae Protein analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
