Algae Protein to Replace Soybean Protein as the Dominant Force in the Plant-based Space

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BY Jocelyn SunMay 18, 2020

Algae protein shows rapid growth in the plant-based raw materials market. Estimates predict the market will be worth $1.2billion by 2023. Currently, spirulina tops the algae sector, both in production volume and market sales. On a global scale, the US is the market leader and has invested heavily in R&D. China is the world’s largest producer of microalgae (spirulina, chlorella etc.)

According to UBS ^[1], the plant-based protein market is expected to increase in the next decade, and the global plant-based protein market will soar from $4.6 billion in 2018 to $85 billion by 2030.

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Jocelyn Sun

ChemLinked Brand Strategist

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