BASF SE, AstaReal AB and euglena Co., Ltd. are Dominating the Global Microalgae Market in 2020

Global Microalgae Market is expected to grow with the CAGR of 6.9% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global microalgae market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.    

The major players dealing in global microalgae market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance;

  • In May 2019, AstaReal AB has achieved NutraIngredients-USA Award in recognition of its AstaReal Natural Astaxanthin. This recognition depicted the company as one of the finalist in sports nutrition market. This award and recognition helped the company to lead the manufacturing of astaxanthin containing sports nutrition products and to establish its footprint in microalgae market.

BASF SE is the dominating player in global microalgae market. The other key players existing in the market includes Cellana Inc., DSM, BIOPROCESS ALGAE, LLC., Algarithm, Cyanotech Corporation, Henry Lamotte Oils GmbH, Algaecytes, Australian Spirulina, Algatech LTD, Lyxia, Corbion, E.I.D. - Parry (India) Limited, Kuehnle AgroSystems Inc., ALGISYS LLC, euglena Co., Ltd., Heliae Development, LLC, AlgaEnergy, ALGENOL, AstaReal AB., among others.

Microalgae MarketBASF SE

BASF SE founded in 1865 and is headquartered in Ludwigshafen, Germany. The company is focused on providing the high quality products and solutions by using best resources and create a better future for the world by facing every challenge.

For instance,

  • In July 2015, BASF SE along with Solazyme launched the microalgae product that is used for the personal care. This product was considered as world’s first surfactant based derived from microalgae oil product and will be commercially available. The product, Dehyton AO 45 which contain betaine surfactant and renewable microalgae oil. The product is an alternative to amidopropyl betaine which is used in the shampoos, handwash liquids, soaps, and others. It was manufactured along with Solazyme AlgaPur Microalgae Oil which was prepared by using fermentation process in which sugarcane was converted to oil. This oil was formulated with high purity and low carbon, water and land use. The combination of BSF SE chemistry and Solazyme expertise has increased the demand of the innovative product. This product launch helped the company to increase their product portfolio as well as enhancing their market sale of the innovative product.

The company has presence across Europe, North America, South America and Asia-Pacific.

AstaReal AB

AstaReal AB is headquartered in Nacka, Sweden. The company is focused in cultivation of natural astaxanthin and to create awareness about the outstanding benefits of natural astaxanthin for human health.

For instance,

  • In November 2020, AstaReal AB has launched chewable softgel capsule for consumers who experiences difficulty in swallowing involving children and seniors. As the company is engaged in manufacturing of microalgae based products only, this initiative allowed the company to attain a lucrative growth in the market.

The company has wide presence across Europe.

euglena Co., Ltd.

euglena Co., Ltd., was founded in 2005, headquartered in Tokyo, Japan. The company is focused on research, development and production of microalgae involving Euglena for manufacturing of foods and cosmetics.

For instance,

  • In October 2020, euglena Co., Ltd. signed a sponsorship contract with Ishigakijima Athletes Club regarding its sports jelly beverage brand SPURT. The SPURT is made from the extract derived from Euglena – microalgae and has efficiency to support athletes health. The agreement signed boosted the company’s sales and allowed it to generate more revenue.

The company has wide presence across Asia-Pacific.