Asia-Pacific Microalgae Market, By Product Type (Dunaliella Salin, Spirulina, Chlorella, and Others), Microalgae Strain (Haematococcus Pluvialis, Phaeodactylum Tricornutum, Porphyridium Cruentum, Nannochloropsis and Others), Category (Organic and Inorganic), Form (Powder/Dry and Liquid), Grade (Food Grade, Feed Grade, Fuel Grade, Cosmetic Grade and Others), Application (Food & Beverages, Dietary Supplements, Pharmaceuticals, Cosmetics & Personal Care, Biofuel, Inks, Animal Feed and Others), Distribution Channel (Indirect and Direct), Country (Japan, China, Australia, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Asia-Pacific microalgae market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.6% in the forecast period of 2021 to 2028 and is expected to reach USD 486.23 million by 2028. Technological and scientific innovations and developments and multiple industry coverage are the major drivers which propelled the demand of the market in the forecast period.
Microalgae comprises features such increasing need for safe and effective product will impact in launching new product by the manufactures into the market which enhance its demand as well as increasing investment in research and development leads to the market growth. Currently various research studies are taking place which is expected to create a competitive advantage for manufacturers to develop new and innovative microalgae products which is expected to provide various other opportunities in the microalgae market. However, harvesting and processing of microalgae and limitation of downstream market expected to restraint the market growth in the forecast period.
The microalgae market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal.
The microalgae products market is categorized into seven segments which are based on the basis of product type, microalgae strain, category, form, grade, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the microalgae market is segmented into dunaliella salin, spirulina, chlorella, and others. In 2021, Spirulina segment is expected to dominate the microalgae market as most of the market layers are engaged in culturing of Spirulina. Moreover Spirulina possess potential for several industry types including food, cosmetic, feed among others.
- On the basis of microalgae strain, the microalgae market is segmented into haematococcus pluvialis, phaeodactylum tricornutum, porphyridium cruentum, nannochloropsis, and others. In 2021, Haematococcus pluvialis is expected to dominate the market because it synthesizes astaxanthin as its protective layer, which has anti- oxidant properties and hence explored for several health benefits.
- On the basis of category, the microalgae market is segmented into organic and inorganic. In 2021, organic segment is expected to dominate the microalgae market as most off the microalgae culturing is done on organic carbon source, moreover consumer prefer microalgae grown on organic medium.
- On the basis of form, the microalgae market is segmented into powder/dry and liquid. In 2021, powder/dry is expected to dominate the market as this form can easily blend with several food grade materials.
- On the basis of grade, the microalgae market is segmented into food grade, feed grade, fuel grade, cosmetics grade, and others. In 2021, food grade segment is expected to dominate the microalgae market due to increasing awareness among consumers about the health benefits of microalgae products.
- On the basis of application, the microalgae market is segmented into food & beverage, dietary supplements, pharmaceuticals, cosmetics & personal care, bio-fuel, inks, animal feed and others. In 2021, dietary supplements are expected to dominate the market because of increasing use of microalgae based product in nutritional and medical applications.
- On the basis of distribution channel, the microalgae market is segmented into indirect and direct. In 2021, direct segment is expected to dominate the global microalgae market as it provides high quality microalgae products at an efficient cost.
Microalgae Market Country Level Analysis
The microalgae market is analyzed and market size information is provided on the basis of product type, microalgae strain, category, form, grade, application and distribution channel.
The countries covered in the microalgae market report are the Japan, China, Australia, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines and Rest of Asia-Pacific.
Powder/dry segment in Asia-Pacific region is expected to grow with the highest growth rate in the forecast period of 2021 to 2028 because dry forms are more stable in environment. China is leading the growth of the Asia-Pacific market and powder/dry segment is dominating in this country due to presence of leading manufacturers and higher microalgae production rate. Japan is the fastest growing in this region because of number strategic initiatives taken by the government for the biodiesel production from microalgae.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia- Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Up of New Markets Based on Products Derived From Microalgal Biomass and Technological and Scientific Innovations and Developments are Boosting the Market Growth of Microalgae
Microalgae market also provides you with detailed market analysis for every country growth in Microalgae industry with Microalgae drugs sales, impact of advancement in the Microalgae technology and changes in regulatory scenarios with their support for the Microalgae market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Microalgae Market Share Analysis
Microalgae market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Microalgae market.
The major companies which are dealing in the microalgae are Cellana Inc., DSM, BIOPROCESS ALGAE, LLC., Cyanotech Corporation, Australian Spirulina, Algatech LTD, Lyxia, BASF SE, Corbion, E.I.D. - Parry (India) Limited, ALGISYS LLC, euglena Co., Ltd., AlgaEnergy, among others.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the microalgae market.
- In November 2017, Algaecytes expanded its business by opening of new facility at Discovery Park in Sandwich with an aim to boost up the manufacturing of health ingredients derived from microalgae. This initiative boosted the company’s research and development activities and allowed it to earn more revenue.
- In July 2017, Australian Spirulina product Spirulina has been recognized as best product for human consumption, moreover proven to be free from heavy metals. This recognition enhanced the product sales in Australia and New Zealand.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company market in the Microalgae market which also provides the benefit for organization to improve their offering for Microalgae.
Customization Available : Asia-Pacific Microalgae Market
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