Microalgae are microscopic algae which are also called single-celled algae. They can either live independently or in the form of colonies. These are photosynthetic microorganisms that reside in freshwater or salty water. According to their species, they can vary in size and shape whose size ranging from micrometers to hundred micrometers. The main function of microalgae is to convert sunlight, carbon dioxide, and water into algal biomass. Microalgae are used in the food, nutraceuticals, feed, and cosmetic industries and it is also used to make paper ink. Microalgae have been considered as most promising in the field of biodiesel feedstock and have been known as third-generation feedstock. Microalgae are members of the larger group of phytoplankton.
Access Full Report at @ https://www.databridgemarketresearch.com/reports/us-microalgae-market
The U.S. Microalgae Market is expected to reach USD 593.16 million by 2030 from USD 355.61 million in 2022 growing with a substantial CAGR of 6.7% in the forecast period of 2023 to 2030.
Key Findings of the Study
Increasing Awareness among Consumers about Health Benefits of Microalgae Products
Microalgae cultivation is done on a large scale for the production of high-quality dietary products. Microalgae are exploited for their high protein content which has fulfilled the unmet diet demand of the growing population. Along with dietary components, microalgae also comprises several other bio-active components having anti-oxidative, anti-carcinogenic, and anti-hypertensive properties. Microalgae have been utilized for thousands of years due to their high dietary content. As new microalgae-containing products keep on launching, several market players are adopting initiatives to create awareness among consumers towards their innovative brands. Increasing awareness is boosting product sales which in turn positively impacts the microalgae market growth.
The increasing trend of plant-based food and rising health-related issues has increased the chances of microalgae-based products to dominate the market with their nutrition-rich products serving the demand of consumers in various domains of life ranging from human food to animal feed and nutrition to biofuel. Thus, the increasing awareness among consumers about the health benefits of algae products acts as a driver for market growth.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Million
|
|
Segments Covered
|
Type (Spirulina, Chlorella, Haematococcus Pluvialis, Dunaliella Salina, Isochrysis, Phaeodactylum Tricornutum, Chlamydomonas Reinhardtii, Porphyridium Cruentum, Nannochloropsis, Other), Category (Organic and Inorganic), Form (Powder/Dry and Liquid), Grade (Food Grade, Feed Grade, Fuel Grade, Cosmetic Grade, and Others), Application (Food & Beverage, Dietary Supplements, Pharmaceuticals, Cosmetics & Personal, Bio-Fuel, Inks, Animal Feed and Others), Distribution Channel (Indirect and Direct)
|
|
Countries Covered
|
U.S.
|
|
Market Players Covered
|
Cellana Inc. (U.S.), DSM (Netherlands), Cyanotech Corporation (U.S.), Algatech LTD (Israel), Corbion (Netherlands), Heliae Development, LLC (U.S), AlgaEnergy (Spain), AstaReal AB (Japan), Parry Nutraceuticals (India), Earthrise Nutritionals, LLC (U.S.), Inner Mongolia Zaihuishou Bioengineering Co., Ltd. (China), Far East Bio-Tec Co., Ltd. (China), and DIC CORPORATION (Japan) among others
|
|
Data Points Covered in the Report
|
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.
|
Segment Analysis
The U.S. microalgae market is categorized into six segments, which are on the basis of type, category, form, grade, application and distribution channel.
- On the basis of type, the market is segmented into spirulina, chlorella, haematococcus pluvialis, dunaliella salina, isochrysis, phaeodactylum tricornutum, chlamydomonas reinhardtii, porphyridium cruentum, nannochloropsis, others.
In 2023, spirulina segment is expected to dominate the U.S. microalgae market
In 2023, the spirulina segment is expected to dominate the market due to higher production rate and consumption demand. Moreover, spirulina is the most widely cultivated microalgae and have numerous potential uses in the field of cosmetic, food, ink, and others, with a market share of 24.17%.
- On the basis of category, the market is segmented into organic and inorganic.
In 2023, in-organic segment is expected to dominate the U.S. microalgae market
In 2023, the in-organic segment is expected to dominate the market due to its cost-effectiveness and scalability in producing microalgae for various applications, such as food additives, biofuels, and nutraceuticals, with a market share of 61.08%.
- On the basis of form, the market is segmented into powder/dry and liquid. In 2023, the powder/dry segment is expected to dominate the market with a market share of 69.39%.
- On the basis of grade, the market is segmented into food grade, feed grade, fuel grade, cosmetics grade and others. In 2023, the food grade segment is expected to dominate the market with a market share of 46.38%.
- On the basis of application, the market is segmented into food & beverage, dietary supplements, pharmaceuticals, cosmetics & personal, bio-fuel, inks, animal feed and others. In 2023, the dietary supplements segment is expected to dominate the market with a market share of 25.23%.
- On the basis of distribution channel, the market is segmented direct and indirect. In 2023, the direct segment is expected to dominate the market with a market share of 64.37%.
Major Players
Data Bridge Market Research analyzes DSM (Netherlands), Corbion (Netherlands), Earthrise Nutritionals, LLC (U.S.), and DIC CORPORATION (Japan), Algatech LTD (Israel) are the major market players.
Recent Developments
- In July 2022, AlgaEnergy announced that it has joined the Technology Platform Food for Life-Spain (PTF4LS) as an associate, led by the Spanish Food and Drink Industry Federation (FIAB). This is considered the largest technological platform in the Spanish agri-food sector. This collaboration will help the organization develop more product portfolios.
- In September 2021, DSM, a science-based organization, declared the fulfillment of its procurement of best option elements for a venture worth USD 453 million. The securing of best option fixings, the main provider of dairy-based exquisite flavouring.
- In September 2021, DIC Corporation reported that it would make a natural venture of roughly yuan 1.2 billion (USD 9.0 million) at auxiliaries Earthrise Nutritionals, LLC, in the U.S. province of California, and Hainan DIC Microalgae Co., Ltd., in Individuals' Republic of China (PRC), the two of which produce eatable blue-green growth Spirulina and Spirulina-determined normal blue food shading LINABLUE.
- In October 2020, Corbion expanded the adoption of AlgaPrime DHA in collaboration with the Thai Union. AlgaPrime DHA is an omega-3-rich algal feed ingredient derived from microalgae. As per the partnership, the company will provide AlgaPrime DHA to the Thai Union to feed of large-scale fish population. This collaboration helped the company to earn lucrative growth in the market.
- In September 2019, Corbion strengthened its partnership with Brenntag in Europe and the Middle East and Africa. Brenntag has a wide EMEA region product portfolio and efficient distribution capabilities. This partnership allowed the company to go beyond traditional distribution capabilities and manufacture high-quality products.
For more detailed information about the U.S. microalgae market report, click here – https://www.databridgemarketresearch.com/reports/us-microalgae-market
