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Market & Trends

Algae Protein Market to Be Worth $709M by 2028 as Demand for Sustainable Proteins Increases

According to a report by Allied Market Research, the global algae protein market will be worth $709 million by 2028, up from $361.4 million in 2020. The market will register a CAGR of 8.9% over the forecast period. Algae is considered highly sustainable as it produces a higher protein yield than traditional crops (4-15 tons per hectare per year for microalgae, compared to 0.6-1.2 tons for crops such as soybeans). Another advantage is that algae can be grown in freshwater, saltwater, or on non-arable land. These factors, along with increasing consumer interest in health and wellness following the pandemic, are expected to drive market growth. The spirulina segment currently leads the market, and this is expected to continue over the forecast period. On the other …

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A close shot of woman hands splitting in two a peanut chocolate bar

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Market & Trends

Vegan Chocolate Market to Be Worth $2Bn by 2032, Growing at 13.1% CAGR

According to a report by Allied Market Research, significant growth is expected for the vegan chocolate market over the coming decade, with the market value expected to rise from $585.8 million in 2022 to $2 billion in 2032 — a CAGR of 13.1%. Demand will be driven by an increased focus on sustainable and animal-friendly options, along with the perception of plant-based products as a healthier choice. However, the market could be restrained by a lack of production capacity, along with the difficulty of sourcing ingredients at a reasonable cost. Additionally, plant-based chocolate typically requires significant R&D due to the challenge of replicating the taste and texture of dairy-based products, and distribution is more limited than for conventional chocolate. To counter these challenges, the report …

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Silk Creamer

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Market & Trends

Global Non-Dairy Creamer Market to Be Worth $2.38Bn by 2027, Growing With 7.3% CAGR

A report by Allied Market Research has predicted that the non-dairy creamer market will grow with a CAGR of 7.3% through to 2027, reaching a value of $2.38 billion. Demand will be driven by increasing desire for plant-based products and a growing vegan population. New opportunities will be provided by the rising number of consumers with dairy allergies and the introduction of different flavors. However, the high cost of non-dairy creamers could pose a challenge, along with competition from low-fat conventional creamers. North America currently has almost two-fifths of the total market share, and is expected to continue to lead due to growing health awareness, successful marketing strategies, and new product launches. The Asia-Pacific region will see the largest CAGR at 8.6%, as consumers increasingly …

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