Africa Algae Protein Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Africa Algae Protein Market Analysis
The Africa Algae Protein Market is anticipated to register a CAGR of 6.10% during the forecast period (2020 - 2025).
- The Africa Algae Protein Market is anticipated to register a CAGR of 6.10% during the forecast period (2020-2025).due to the increasing number of health-conscious consumers, and constant growth in population, are some of the major drivers for the Africa algae protein market.
- Algae-based ingredients consist of essential fatty acids that have a broad range of health benefits, including cardiovascular, eye and brain health, for which it is widely used in the various end-user applications, like dietary supplements, infant nutrition, functional food and beverages, and pharmaceutical and clinical nutrition. These properties of algae are propelling the boost of the market.
Africa Algae Protein Market Trends
This section covers the major market trends shaping the Africa Algae Protein Market according to our research experts:
Chlorella Holds A Prominent Share
Various health benefits of consuming chlorella are another major driver for this market. It is a good source of fiber, fats, chlorophyll, protein, carbohydrates, vitamins, and minerals. Moreover, it is a nutrient-dense superfood that contains 60% protein, 18 amino acids (including all the essential amino acids), and various vitamins and minerals. One of its unique properties is a phytonutrient called CGF.
The expanding global vegan population is one of the primary growth drivers of the chlorella ingredients market. Algae-based ingredients like chlorella are rich in protein and may offer health and wellness attributes to food products. For example, they may boost plant protein levels in cheese crackers or smoothies, or they may improve the nutritional profile of an ice cream product. Microalgae like chlorella have emerged as a promising sustainable alternative protein source.
South Africa Dominates The Market
Changing consumer lifestyles and rising healthcare expenditure are playing a vital role in the growth of the plant protein market in the country. Moreover, the flourishing growth of the retail sector is escalating the growth of the market. The concerns over clean labels, ease of digestion, the need for avoiding allergy-causing substances, and sustainability among the public are adding the demand for algae proteins, in the country. Algae ingredients in sports nutrition constitute the major share in the market, followed by animal feed. Manufacturers are constantly embracing open innovation to gain cost-leadership and fixed suppliers in the early development stage.
Africa Algae Protein Industry Overview
Africa Algae Protein market is a fragmented market. Unique cultivation methods and upcoming innovative applications are expected to help the market growth in the years to come. The competition in this market is expected to intensify further, in the coming years, due to increased industrialization leading to product extensions, technological innovations, and the high-quality of the products manufactured.
Africa Algae Protein Market Leaders
-
Roquette Frères
-
Cyanotech Corporation
-
Corbion N.V.
-
Taiwan Chlorella Manufacturing Company
*Disclaimer: Major Players sorted in no particular order
Africa Algae Protein Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
-
4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 By Type
- 5.1.1 Spirulina
- 5.1.2 Chlorella
- 5.1.3 Other Types
-
5.2 By Application
- 5.2.1 Food & Beverages
- 5.2.2 Dietary Supplements
- 5.2.3 Pharmaceuticals
- 5.2.4 Other Applications
-
5.3 By Geography
- 5.3.1 South Africa
- 5.3.2 Egypt
- 5.3.3 Nigeria
- 5.3.4 Rest of Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Position Analysis
-
6.3 Company Profiles
- 6.3.1 Roquette Freres
- 6.3.2 Cyanotech Corporation
- 6.3.3 Corbion N.V.
- 6.3.4 DIC Corporation
- 6.3.5 Taiwan Chlorella Manufacturing Company
- 6.3.6 Solabia Group
- 6.3.7 See Algae Technology, GmbH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Africa Algae Protein Industry Segmentation
The Africa Algae Protein Market is segmented by Type into Spirulina, Chlorella, and Other Types. The market is segmented by Application into Food & Beverages, Dietary Supplements, Pharmaceuticals, and Others. The report is also segmented by geography.
| By Type | Spirulina |
| Chlorella | |
| Other Types | |
| By Application | Food & Beverages |
| Dietary Supplements | |
| Pharmaceuticals | |
| Other Applications | |
| By Geography | South Africa |
| Egypt | |
| Nigeria | |
| Rest of Africa |
Africa Algae Protein Market Research FAQs
What is the current Africa Algae Protein Market size?
The Africa Algae Protein Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029)
Who are the key players in Africa Algae Protein Market?
Roquette Frères, Cyanotech Corporation, Corbion N.V. and Taiwan Chlorella Manufacturing Company are the major companies operating in the Africa Algae Protein Market.
What years does this Africa Algae Protein Market cover?
The report covers the Africa Algae Protein Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Africa Algae Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Africa Algae Protein Industry Report
Statistics for the 2024 Africa Algae Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Africa Algae Protein analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
