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Global Microalgae Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Jul 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Microalgae Market, By Product Type (Dunaliella Salina, 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, Cosmetics Grade and Others), Application (Food and Beverage, Dietary Supplements, Pharmaceuticals, Cosmetics and Personal Care, Bio-Fuel, Inks, Animal Feed and Others), Distribution Channel (Indirect and Direct) – Industry Trends and Forecast to 2029

 

Microalgae Market

Microalgae Market Analysis and Size

Microalgae are minute planktons that can be found in the sediment of both freshwater and marine systems. They are also referred to as macrophytes. These unicellular animals have the ability to live singly, in communities, or in chains. Their size can vary from one microns to a hundred microns depending on the species.

Data Bridge Market Research analyses that the microalgae market which was USD 950.0 million in 2021, would rocket up to USD 1537.16 million by 2029, and is expected to undergo a CAGR of 6.20% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Microalgae Market Scope and Segmentation  

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Dunaliella Salina, 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, Cosmetics Grade and Others), Application (Food and Beverage, Dietary Supplements, Pharmaceuticals, Cosmetics and Personal Care, Bio-Fuel, Inks, Animal Feed and Others), Distribution Channel (Indirect and Direct)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Cellana Inc. (U.S.), DSM (Netherlands), Biofuels Digest (U.S.), Corbion (Netherlands),  Algarithm (U.S.), Cyanotech Corporation (U.S.), Henry Lamotte Oils GmbH (U.S.), Algaecytes (U.K.), Australian Spirulina (Australia), Algatech LTD (Israel), Lyxia (U.S.), BASF SE (Germany), Kuehnle AgroSystems Inc. (U.S.), ALGISYS Biosciences Inc. (U.S.), euglena Co., Ltd. (Japan)

Market Opportunities

  • Rising malnutrition
  • Rising demand for products derived from spirulina

Market Definition

Microalgae, commonly known as single-celled algae, are tiny forms of algae. Either singly or as colonies, they are able to live. These are microscopic organisms that can photosynthesize in both freshwater and saltwater. They can vary in size and shape depending on their species, with sizes ranging from micrometres to hundreds of micrometres. Microalgae's primary job is to create algal biomass from sunlight, carbon dioxide, and water.

Microalgae Market Dynamics

Drivers

  • Rising vegetarianism

The market is expanding due to factors such as rising vegetarianism, strict regulations regarding the use of synthetic colours and flavours, rising malnutrition, rising demand for products derived from spirulina, particularly Omega-3 fatty acids, expanding use of spirulina in aquaculture, rising investments from top colour houses, and expanding use of spirulina in aquaculture.

  • Rising value due to microalgae cleaning

Chlorella is a highly investigated alga with several papers from hospitals, research institutes, and academic institutions. With more than 30% of the population using it as their primary health supplement, it is the most well-liked health food supplement in Japan. The market value for this niche is increased by its cleansing, nourishing, and renewing properties, which make the body's natural defence and repair mechanisms more efficient.

  • Rise in ageing population

The growth of the supplement industry are the ageing population, growing consumer understanding of preventative healthcare, the rise of the self-directed consumer (self-diagnosis over health practitioner diagnosis), channel proliferation (various marketing techniques and E-Commerce), and the shift from ingredient-focused messaging to broader brand positioning (grouping supplements together solely to form a healthy benefits package). The value and sales of nutritional, herbal, and vitamin goods are rising significantly on a global scale.

Opportunities

  • Increase in the number of research and development activities   

The rising investment in algae production acts as an opportunity for the growth of the microalgae market. Many top microalgae businesses are building in the UK algae sector to accelerate their carbon footprint reduction and renewable energy generation strategies. 

Restraints/Challenges

On the other hand, the elements involved in the creation of microalgae or biofuels derived from microalgae are more expensive, which can impede the expansion of the microalgae industry as small businesses consider entering the microalgae market for production.

This microalgae market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the microalgae market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Microalgae Market

Trade groups in the nutritional products sector claim that the global supply chain for functional foods and dietary supplements has been significantly damaged, impacting end-user consumption of microalgae market growth. Sales of microalgae in the first quarter of 2020 were significantly delayed in the algal industry due to logistical and transportation issues. The supply of raw materials for culture medium and manufacturing, packaging, and biomass delivery were all disrupted along the whole value chain. China, one of the world's main producers and consumers of microalgal species, began to experience the COVID-19 pandemic's effects on this market in 2020.

Recent Development

  • In October 2020, Cyanotech Corporation introduced BioAstin, a product made from microalgae. The launched has demonstrated effectiveness in the treatment of, among other things, joint health, skin illness, and cardiovascular disease. The newly released product expanded the company's product line and increased income.
  • In January 2019, Omega-3 DHA algal oil produced by Algarithm was granted non-GMO certification. This accreditation demonstrated that the company is trying to adhere to best GMO practises and strict requirements to maintain the product's quality. This accreditation strengthened the company's reputation in the microalgae market.

Global Microalgae Market Scope

The microalgae market is segmented on the basis of product type, microalgae strain, category, form, grade, and application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Dunaliella Salina
  •  Spirulina
  • Chlorella
  • Others

Microalgae Strain

  • Haematococcus Pluvialis
  • Phaeodactylum Tricornutum
  • Porphyridium Cruentum
  • Nannochloropsis
  • Others

Category

  • Organic
  • Inorganic

 Form

  • Powder/Dry
  • Liquid

 Grade

  • Food Grade
  • Feed Grade
  • Fuel Grade
  • Cosmetics Grade
  • Others

 Application

  • Food and Beverage
  • Dietary Supplements
  • Pharmaceuticals
  • Cosmetics and Personal Care
  • Bio-Fuel
  • Inks
  • Animal Feed
  • Others

 Distribution Channel

  • Indirect
  • Direct

Microalgae Market Regional Analysis/Insights

The microalgae market is analysed and market size insights and trends are provided by country, product type, microalgae strain, category, form, grade, and application and distribution channel as referenced above.

The countries covered in the microalgae market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America region is expected to grow with the highest growth rate in the forecast period of 2022 to 2029 due to the organic cultivation are ecofriendly and economical for the production.

Asia-Pacific is dominating the market due to government initiatives raising awareness towards ecofriendly products.

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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Microalgae Market Share Analysis

The 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to microalgae market.

Some of the major players operating in the microalgae market are:

  • Cellana Inc. (U.S.)
  • DSM (Netherlands)
  • Biofuels Digest (U.S.)
  • Corbion (Netherlands)
  • Algarithm (U.S.)
  • Cyanotech Corporation (U.S.)
  • Henry Lamotte Oils GmbH (U.S.)
  • Algaecytes (U.K.)
  • Australian Spirulina (Australia)
  • Algatech LTD (Israel)
  • Lyxia (U.S.)
  • BASF SE (Germany)
  • Kuehnle AgroSystems Inc. (U.S.)
  • ALGISYS Biosciences Inc. (U.S.)
  • euglena Co., Ltd. (Japan)

Research Methodology: Global Microalgae Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

Global Microalgae Market segmented By Application such as Food & Beverage, Dietary Supplements, Pharmaceuticals, Cosmetics & Personal Care, Bio-Fuel, Inks, Animal Feed and Others.
The major companies which are dealing in the microalgae are Cellana Inc., DSM, BIOPROCESS ALGAE, LLC., Corbion,  Algarithm, Cyanotech Corporation, Henry Lamotte Oils GmbH, Algaecytes, Australian Spirulina, Algatech LTD, Lyxia, BASF SE, Corbion,  E.I.D. - Parry (India) Limited, Kuehnle AgroSystems Inc., ALGISYS LLC, euglena Co., Ltd.,  Heliae Development, LLC, AlgaEnergy, ALGENOL, AstaReal AB among others.
The Microalgae Market is to grow at a CAGR of 6.20% during the forecast by 2029.
The Microalgae Market value is expected USD 1537.16 million by 2029.