Europe Algae Protein Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.14 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Algae Protein Market Analysis
The Europe algae protein market is anticipated to witness a CAGR of 6.14 % during the forecast period (2020 - 2025).
- The increased availability of seaweed in a wider range of foods products in the region is expected to familiarize consumers with the ingredient and portrays a bright future for the potential segment.
- In spite of the proportion of European consumers who consider themselves vegetarians or vegans still being relatively small, the preference for natural, healthy and flexible diets is becoming more mainstream which is further expected to promote the market growth in the near future.
- The consumer demand for alternative sources of protein is already rising in the region and, with algae aligning well with the growing quest for both greener and naturally functional foods, is likely to flourish in the upcoming time due to its vivid applications.
Europe Algae Protein Market Trends
This section covers the major market trends shaping the Europe Algae Protein Market according to our research experts:
The Popularization of Functional Foods is Likely to Foster the Market Growth
Algae are marine sourced plants which have been getting attention as a functional food in recent years across the region. Their nutritional profile makes them uniquely suited and apt to meet the demands of consumers willing for more plant-centric diets. Algae are also considered a sustainable food source for animals. Algae's superfood character calls for a more overt usage in food and drink products in the European countries, owing to the transforming consumer food habits in the region. Educating consumers about the nutritional benefits available in algae will be critical to overcoming cultural perceptions. Moreover, many European consumers are not yet familiar with eating algae outside of sushi, so the brands are putting a strong focus on taste, e.g. by combing algae with popular flavors, to encourage consumer uptake.
German Beverage Market is Promoting Algae Protein Use
As concerns over the health and environmental impacts of consuming animal-based products have grown in Germany, the interest in alternative-protein sources, including seaweeds such as algae, chlorella, and spirulina has also developed among the consumers.
The younger generation of the country is readily accepting healthier drinks sourced from algae sources due to their urge to trying innovative products. This is primarily because the young adults are incorporating more protein in their daily diets and their quest for an ideal alternative protein is met by algae protein, which supports the health claims like any other good plant-protein source.
Thus, algae protein found a natural home in the juices and smoothies. Some launches in Germany include Rabenhorst's Wheatgrass Drink with Spirulina Micro-Algae and Green Tea Extract, Alnavit's Green Hero with Spirulina and Matcha and True Fruits' Green Smoothie with Rocket, Mint & Chlorella.
Europe Algae Protein Industry Overview
The European algae protein market is competitive in nature having a large number of domestic and multinational players competing for market share. Emphasis is on the geographical expansions and product innovation primarily. Moreover, partnerships and mergers and acquisitions are also considered as an effective means of strengthening the brand value.
The manufacturers are indulged in new product development as strategic approaches to develop versatile solutions that can be utilized in multiple applications. Also, one of the main targets of the manufacturers is to alter the typical taste of algae and suppress it by flavor addition so that consumers can accept algae-based products more readily. Thus, the overall market of algae protein has good potential in the region and offers plenty of opportunities for the manufacturers to experiment on, to enhance their market reputation.
Europe Algae Protein Market Leaders
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Corbion Biotech, Inc.
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Duplaco
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Roquette Klotze GmbH & Co. KG
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Phycom BV
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Algama
*Disclaimer: Major Players sorted in no particular order
Europe Algae Protein Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables and Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Spirulina
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5.1.2 Chlorella
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5.1.3 Other types
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5.2 By Application
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5.2.1 Food & Beverages
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5.2.2 Dietary Supplements
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5.2.3 Pharmaceuticals
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5.2.4 Others
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5.3 By Country
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5.3.1 United Kingdom
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5.3.2 France
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5.3.3 Germany
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5.3.4 Netherlands
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5.3.5 Italy
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5.3.6 Rest of Europe
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Corbion Biotech, Inc.
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6.3.2 Duplaco
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6.3.3 Roquette Klotze GmbH & Co. KG
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6.3.4 Phycom BV
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6.3.5 The Algae Factory BV
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6.3.6 Algama
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6.3.7 Alver
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Algae Protein Industry Segmentation
Europe algae protein market is segmented by type into spirulina, chlorella, and other types. By application, the market is classified into food & beverages, dietary supplements, pharmaceuticals, and others. The market is also segmented on a country basis as the United Kingdom, France, Germany, Netherlands, Italy, and the rest of Europe.
| By Type | |
| Spirulina | |
| Chlorella | |
| Other types |
| By Application | |
| Food & Beverages | |
| Dietary Supplements | |
| Pharmaceuticals | |
| Others |
| By Country | |
| United Kingdom | |
| France | |
| Germany | |
| Netherlands | |
| Italy | |
| Rest of Europe |
Europe Algae Protein Market Research FAQs
What is the current Europe Algae Protein Market size?
The Europe Algae Protein Market is projected to register a CAGR of 6.14% during the forecast period (2024-2029)
Who are the key players in Europe Algae Protein Market?
Corbion Biotech, Inc., Duplaco, Roquette Klotze GmbH & Co. KG, Phycom BV and Algama are the major companies operating in the Europe Algae Protein Market.
What years does this Europe Algae Protein Market cover?
The report covers the Europe Algae Protein Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Algae Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Algae Protein Industry Report
Statistics for the 2024 Europe Algae Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe 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.
