North America Algae Protein Market Size, Share & Industry Trends Analysis Report By Type (Microalgae and Macroalgae), By Source (Freshwater and Marine), By Application (Dietary Supplements, Animal Feed, Pharmaceuticals, Human Food), By Country and Growth Forecast, 2022 - 2028

Analysis of Market Size & Trends

The North America Algae Protein Market would witness market growth of 8.4% CAGR during the forecast period (2022-2028).

There are several advantages to employing algal proteins as innovative animal feed proteins. They are a sustainable solution that provides several health and environmental benefits. Due to the high protein content of both microalgae and macroalgae, this is an excellent dietary supplement for both animals and humans. As their availability increases, the market for algae-based proteins will only continue to grow in the future.

Using conventional solvent and/or enzymatic procedures, algal proteins may be extracted from algae in a straightforward manner and with a reasonable yield. Algae are dissolved in alkali under reductive circumstances in conventional procedures. The separation of soluble protein from carbohydrates is then facilitated by acidic precipitation at low pH.

Large levels of cell wall mucilage inhibit the extraction of algal proteins using conventional techniques; ionic or neutral polysaccharides can also reduce the effectiveness of protein extraction and purification. The breakage or restriction of links between polysaccharides and proteins appears to be a role in enhancing the extraction.

The National Oceanic and Atmospheric Administration of the United States Department of Commerce asserts that seaweed production is the fastest-growing aquaculture in the United States. According to the organization's records, Alaska produced over 112,000 pounds of ribbon, sugar, and bull kelp in 2019. Additionally, its output has expanded by 200 percent since 2017. In addition, Southeast Alaska is home to the biggest kelp farm in North America.

The US market dominated the North America Algae Protein Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $563.7 million by 2028.The Canada market is poised to grow at a CAGR of 10.8% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 9.9% during (2022 - 2028).

Based on Type, the market is segmented into Microalgae and Macroalgae. Based on Microalgae Type, the market is segmented into Spirulina, Chlorella and Others. Based on Source, the market is segmented into Freshwater and Marine. Based on Application, the market is segmented into Dietary Supplements, Animal Feed, Pharmaceuticals, Human Food and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

Free Valuable Insights: The Global Algae Protein Market is Estimated to reach $4.4 Billion by 2028, at a CAGR of 8.1%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cyanotech Corporation, E.I.D. Parry Limited (Murugappa Group), Rainbow Light Nutritional Systems, LLC (The Clorox Company), Corbion N.V., DIC Corporation, NOW Foods, Inc., ENERGYbits, Inc., Vimergy LLC, and Far East Microalgae Industries, Co., Ltd.

Scope of the Study

Market Segments Covered in the Report:

By Type

• Microalgae
  • Spirulina
  • Chlorella
  • Others
• Macroalgae

By Source

• Freshwater
• Marine

By Application

• Dietary Supplements
• Animal Feed
• Pharmaceuticals
• Human Food
• Others

By Country

• US
• Canada
• Mexico
• Rest of North America

Key Market Players

List of Companies Profiled in the Report:

• Cyanotech Corporation
• E.I.D. Parry Limited (Murugappa Group)
• Rainbow Light Nutritional Systems, LLC (The Clorox Company)
• Corbion N.V.
• DIC Corporation
• NOW Foods, Inc.
• ENERGYbits, Inc.
• Vimergy LLC
• Far East Microalgae Industries, Co., Ltd