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Type: PDF
Status: Syndicate
Categories: Biotechnology
Report Code : BT23
No. of Pages : 150
Algae proteins are the protein extricates taken from algae by cultivating, extracting, drying and refining seawater algae. They cater to several needs in food & beverages, animal husbandry and health & personal care. Algae proteins are obtaining importance as alternative plant protein due to its balanced proportions of all the amino acids.
Algae Protein Market was USD 740.14 Million in 2023 and anticipated to reach USD 1,222.56 Million by 2030 with the CAGR of 7.4% over the forecast period. Rising awareness about the algae proteins and their associated advantages has resulted in the expanding acceptance of algae proteins around the world. Moreover, escalating demand for algae proteins as functional ingredients in processed foods has increased the demand for algae proteins.
Rising consumption of algae proteins in the form of processed foods due to the urbanization and surging demand for convenience foods is projected to have a positive impact on the algae protein market. On the other hand, the presence of alternative protein food products may restrict the market growth.
The market for glutathione is intensely competitive and is highly fragmented. The vendors in the glutathione market compete based on product portfolio, product differentiation, applications, and the pricing of products. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features, into their product.
Key players in the market are Corbion, Vimergy LLC, Cyanotech Corporation, NOW Foods, Earthrise Nutritional, Prairie Naturals, E.I.D. - Parry Limited, ENERGYbits Inc., Rainbow Light, Far East Bio-Tec Co., Ltd and others.
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