Demand For Clean Label Food Ingredients Expected To Enrich the Algal Proteins Market
Algal proteins are increasingly being recognized as a superfood as they boasts of a higher protein content as compared to other natural sources of protein. In some strains of algae, proteins comprise around 40-60% by weight of the algal extract. Therefore, in the backdrop of increasing health awareness and demand for clean-label and natural food ingredients, algal proteins market is expected to become one the fastest growing segment in the food industry. Spirulina, which is an important strain in the algal proteins industry, is riding high on the success of its use as a functional food ingredient as well as a natural food color. Algal proteins manufacturers are also focusing on offering algal proteins at reasonable prices, which reflects a high competitive scenario amongst key players across the globe. However, algal proteins market has yet to pass the tests of approvals from the regulatory bodies which may slightly hinder the growth of the market. Algal proteins have garnered very little awareness and consumer trust amongst consumers and false claims and hype about algal proteins is tampering the image of algal proteins in the market. For instance, Soylent Corporation, which manufacturer protein substitute products, was compelled to formulate products free of algal flour due to violent illness caused by the algal flour.
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Algal Proteins Market: Regional Analysis
Since, health awareness and consumer expenditure on niche and premium food ingredients is high in regions such as North America, Western Europe, China and Japan, the demand for algal proteins is also high in these regions. Currently, food innovation is the key focus of the food processors in the developed regions which paves more opportunities for the growth of the algal proteins market. In APEJ, manufacturers are being increasingly confronted with the challenge of contamination, from where the algae for the extraction of algal proteins is sourced from. Since food regulations in the developed regions are stringent, European manufacturers find it hard to source the raw materials from regions like APEJ, obstructing international trade of algal proteins. On the other hanc, in countries like India, initiatives by the government are also encouraging demand for algal proteins. For instance, in March 2016, the Karnataka government, a state government in India launched Balposhna scheme for eradicating malnutrition. Under this scheme, the government provided 2gm of Spirulina for 180 days to 25,000 children across the state.
Algal Proteins Market: Key Participants
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Some of the market participants in the algal proteins market are: AlgaEnergy, S.A. Power Organics Corbion Biotech, Inc. Affinity Energy and Health Limited Algatech Ltd, etc.
The research report presents a comprehensive assessment of the Algal Proteins market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, application, and end use.
The report covers exhaustive analysis on: Algal Proteins Market Segments Algal Proteins Market Dynamics Algal Proteins Market Size Algal Proteins Supply and Demand Current Trends/Issues/Challenges pertaining to Algal Proteins Market Competition Landscape and Emerging Market Participants in Algal Proteins Market Technology related to Production/Processing of Algal Proteins Value Chain Analysis of the Algal Proteins Market
Regional analysis includes: North America (U.S., Canada) Latin America (Mexico, Brazil) Europe (Germany, U.K., France, Italy, Spain, Poland, Russia) East Asia (China, Japan, South Korea) South Asia (India, Thailand, Malaysia, Vietnam, Indonesia) Oceania (Australia, New Zealand) Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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