The Global Algae Products Market is a dynamic sector encompassing a diverse range of products derived from algae, a photosynthetic organism. Algae products have gained prominence across various industries, including food and beverages, pharmaceuticals, cosmetics, and biofuels, due to their rich nutritional content and versatility. As industries increasingly focus on sustainable practices the global algae products market is poised for continued expansion, with diverse opportunities for businesses and consumers.
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Data Bridge Market Research analyses that the Global Algae Products Market is growing at a CAGR of 7.21% in the forecast period of 2022-2029. Spirulina and chlorella, prominent algae types, boast high levels of proteins, vitamins, minerals, and antioxidants. Growing consumer awareness of these nutritional advantages fuels a rising demand for algae-based supplements and functional foods, reflecting a health-conscious trend in dietary choices worldwide.
Key Findings of the Study
Global population growth and food security concerns are expected to drive the market's growth rate
With the global population expanding, the imperative for sustainable food sources intensifies. Algae cultivation emerges as a viable solution, offering a nutrient-rich and sustainable food supply. Its efficient resource utilization and rapid growth make algae an attractive prospect in addressing food security concerns. As the world grapples with feeding a growing population, the potential of algae as a sustainable food source aligns with the urgent need for resilient and environmentally friendly solutions. Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Segments Covered
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Type (Lipids, Carrageenan, Carotenoids, Alginate, Algal Protein, Others), Form (Solid, Liquid), Source (Brown Algae, Blue-Green Algae, Red Algae, Green Algae, Others), Application (Food and Beverages, Nutraceuticals and Dietary Supplements, Feed, Personal Care Products, Pharmaceuticals, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa
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Market Players Covered
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Algatech LTD (Israel), Euglena Co. Ltd. (Japan), Algae Systems LLC (U.S.), Cyanotech Corporation (U.S.), Cargill, Incorporated (U.S.), Algenol Biofuels (U.S.), Bioprocess Algae LLC (U.S.), Cellana Inc. (U.S.), Earthrise Nutritionals LLC (U.S.), DuPont (U.S.), ADM (Archer Daniels Midland) (U.S.), DSM (Netherlands), BASF SE (Germany), E.I.D. - Parry (India) Limited (India), Corbion NV (Netherlands), CP Kelco U.S., Inc. (U.S.), BlueBioTech International GmbH (Germany), Pond Tech (Canada), Heliae Development, LLC (U.S.), SUN CHLORELLA CORP. (Japan) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global algae products market is segmented on the basis of type, form, source, and application.
- On the basis of type, the algae products market is segmented into lipids, carrageenan, carotenoids, alginate, algal protein, and others
- On the basis of form, the algae products market is segmented into solid and liquid
- On the basis of source, the algae products market is segmented into brown algae, blue-green algae, red algae, green algae, and others
- On the basis of application, the algae products market is segmented into food and beverages, nutraceuticals and dietary supplements, feed, personal care products, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major global algae products market players in global algae products market are E.I.D. - Parry (India) Limited (India), Corbion NV (Netherlands), CP Kelco U.S., Inc. (U.S.), BlueBioTech International GmbH (Germany), Pond Tech (Canada), Heliae Development, LLC (U.S.), SUN CHLORELLA CORP. (Japan)
Market Developments
- In September 2022, Denmark's Aliga Microalgae (Aliga) completed the acquisition of a substantial chlorella algae facility in the Netherlands. With strategic intent, Aliga aims to leverage this modern production facility for the commercialization of its chlorella algae products. This acquisition marks a significant step for Aliga in expanding its presence and capabilities, tapping into the growing market demand for chlorella algae-based products in various industries, including food, pharmaceuticals, and cosmetics
- In April 2022, Koninklijke DSM N.V. expanded its 'life' range of algal-sourced omega-3 products with two line extensions. The company aimed to provide a high-quality and potent omega-3 alternative to fish oil. The product line includes life's OMEGA and life's DHA. A notable addition is life's OMEGA O1030DS, DSM's most effective algal omega-3 formulation, containing both EPA and DHA from a single, sustainable source, reinforcing their commitment to delivering nutritional solutions with environmental consciousness
- In September 2021, AAK unveiled a strategic partnership with Progress Biotech, signaling a milestone collaboration to provide premium algae-based DHA for infant formula. This venture underscores AAK's commitment to sourcing high-quality ingredients. By integrating Progress Biotech's expertise in algae-derived DHA, AAK aims to enhance the nutritional profile of infant formula, aligning with the growing demand for healthier and sustainable alternatives in the infant nutrition sector. This partnership represents a strategic move to address evolving consumer preferences and industry standards
- In May 2020, DSM expanded its nutrition business by introducing life’sDHA SF55-O200DS, a plant-based DHA oil produced from Schizochytrium algae. Specifically designed for mothers and infants, this product enriches nutrition. The launch strategically broadened DSM's product portfolio, strengthening its position in the market. By addressing the nutritional needs of a crucial demographic, the company anticipates heightened market appeal and increased business opportunities, aligning with the growing demand for plant-based solutions in the nutrition sector
Regional Analysis
Geographically, the countries covered in the global algae products market report are U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa
As per Data Bridge Market Research analysis:
North America is the dominant region in the global algae products market during the forecast period 2022-2029
North America dominates the algae products market and will sustain its dominance in the forecast period. The region's leadership is propelled by increasing disease incidences, such as diabetes and high blood pressure. Factors such as a growing geriatric population and heightened healthcare awareness further contribute to market growth. With these trends, North America remains a key player, steering the algae products market as it continues to address health challenges and capitalize on expanding healthcare consciousness within the region.
Asia-Pacific is estimated to be the fastest-growing region in the global algae products market for the forecast period 2022-2029
Asia-Pacific is expected to dominate the algae products market during the forecast period of 2022-2029. The region's prominence is fueled by a surging demand for feed and food supplements. Ongoing projects further contribute to this growth, reflecting the dynamic landscape of algae cultivation and its diverse applications in the rapidly expanding Asian markets. The focus on sustainable solutions and the nutritional benefits of algae align with the region's evolving preferences, propelling the market forward.
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