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Global Algae Protein Market was valued at US$ 699.41 Mn in 2019 and is expected to reach US$ 1107.2 Mn by 2027, at a CAGR of 6.78% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Global Algae Protein Market Dynamics:
On the basis of type, spirulina segment is expected to propel the global algae protein market growth as it has high nutritional content and increased usage supplements across the globe. Based on the application, the food products segment is projected to drive the global algae protein market growth as rising concerns regarding health and healthy food among consumers globally. In addition, the growth in vegetarian and vegan population across the globe, which is estimated fuel the demand for algae proteins in food products.
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