KWANCHANOK LIPONTHA
Bio, Circular, Green or BCG economy is a policy on sciences and technology to support the Scurve strategy of the government. One of market drivers of food industry is health concern of consumers, which drives the continuous growth of nutraceutical and functional food markets. Moreover, the high demand of plantbased food for vegetarian and/or healthconcern consumers causes the increasing of market size of 8,000 billion USD in 2018 at the growth rate of about 7.4 per year to the size of 13,000 billion USD in 2025. A sector of this market is the algalbased market with the size of 4700 million USD in 2021 at the growth rate of about 6.3 per year to the size of 6,400 billion USD in 2026. Algalprotein market is also a sector of the algalbased market with the size of 1,008 million USD in 2025, and 56 of the algalbased proteins in this market used for nutraceutical and feed supplement. Therefore, within 3 years, this set of projects will employ our expertise i.e. process extraction technology for bioactive compounds, bioactive peptide analytical platform, nanoencapsulation and alternative protein product development for the production of functional food/ingredients from algae used as nutraceuticals.
