• Skip to main content
  • Skip to primary sidebar

Growth opportunities in microalgae market forecasted

Asia Food Journal
  • Home
  • Latest News
  • Channels
    • Packaging
    • Processing
    • Ingredients
    • Industry
    • Automation
    • Guest Posts
    • Market Trends
  • Subscribe
  • Advertise
  • Event Calendar
  • Contact Us
    • Submit Guest Posts
Share
Leaderboard of Asia Food Journal

Growth opportunities in microalgae market forecasted

January 10, 2022 by Asia Food Journal

Laker/Pexels

Microalgae is microscopic algae found in marine and fresh water. This natural product is rich in vitamins A, B2, C, E and nutrients such as protein, iron and magnesium. In the food and beverage segment, it is being increasingly adopted particularly as an alternative protein source.

As more people are going the vegan route and companies are investing in fortified food and dietary supplements for health, the microalgae market is poised for growth. Additionally, disposable income allocated to health and wellness is on the rise, as an effect of the COVID-19 pandemic. It is estimated that the market will be valued at $1.48 billion by 2028, with a CAGGR of 5.4% from 2021 to 2028, according to Allied Market Research.

Leaderboard of Asia Food Journal

Spirulina accounted for 2/5 of the market in 2020, out of the other variants namely: chlorella, dunaliella salina, aphanizomenon flos-aquae. The Asia-Pacific region will see the highest growth, with CAGR of 6.7%.

Researchers also noted how climate change is affecting spirulina production, which presents as a huge factor in limiting the market growth. Additionally, the boom in other alternative protein sources, relatively low product awareness, restrictions on mobility and increased prices of raw materials can all hinder growth.

Other Topics: Allied Market Research, alternative protein, alternative protein ingredient, alternative protein source, healthy ingredients, Ingredients, microalgae, microalgae ingredients, microalgae market, microscopic algae, natural ingredients, natural protein, spirulina, vegan, vegan ingredient

Related Articles

  • Balchem to fuel innovation at SupplySide West 2023 with the launch of new Food & Beverage ingredients  
  • Ingredient Excellence Center

    Courtesy of ofi

    ofi marks dairy-focused milestone moment in line with strategy to build a value-added ingredients and solutions-led organization  
  • Asia Pacific Agri-Food Innovation Summit

    Courtesy of Rethink Events

    Meet the innovators accelerating the transition to a climate-smart food system at the Asia-Pacific Agri-Food Innovation Summit on 31 October – 2 November, Singapore
  • SIGEP 2024

    Courtesy of Italian Exhibition Group

    EG: SIGEP 2024 Announces a Total Sell-Out,  90% of Exhibition Space Already Sold  
  • Meatable

    Courtesy of Meatable

    Cultivated Meat Company Meatable Unveils Innovative Products in Singapore
  • Vitalis™

    Courtesy of Nutrition Technologies

    Nutrition Technologies Launches Vitalis™ A Liquid Bio-fertilizer from Insect Frass 
Leaderboard of Asia Food Journal

Primary Sidebar

Stay Connected


Trending News

Subsribe to Our News Letter

Subscribe To
Our Newsletter


By submitting this form, you consent to receive marketing emails from Asia Food Journal. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

© 2023 Harvest Information. All rights reserved. Privacy Policy.

Become an F&B industry insider

Your go-to resource for all the latest trends, innovations, and news about the food and beverage industry!

 

By submitting this form, you consent to receive marketing emails from Asia Food Journal. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Disclaimer: Translations on this website are automated using Google Translate. While we strive for accuracy, please be cautious, as machine translations may contain errors. For critical or sensitive content, consider seeking professional human translation. We are not liable for any reliance on the translated content.