The Algae Products Market report has been formulated through extensive research and provides insights into the paradigm shifts observed in the market to assist readers maximize on their investments and capitalize on the recent development and competitive landscape of the global market. The report is an exhaustive assessment of the crucial aspects of the market including key geographical regions, technology, product types, application spectrum, key companies operating in the market, and overall industry overview.
According to the current analysis of Reports and Data, Algae Products Market was valued at USD 11.09 Billion in 2018 and is expected to reach USD 17.99 Billion by the year 2026, at a CAGR of 6.2%. These are plants that range from microscopic to large seaweeds. They are fastest growing plant organisms which are converting sunlight, CO2, and nutrients into organic matter that can replace many commonly used oils such as fish, palm.
The food and beverage industry is involved in transforming raw food materials into consumer food products. The sector includes groceries, oils and fats, food additives, functional foods and beverages, canned food, packaged foods, health and natural foods, baby food, animal food, syrup, baked food, soft drinks, alcoholic and non-alcoholic drinks, energy drinks, and packaging. The companies in this industry are looking for innovations in food that meet the changing consumer’s preferences in terms of global flavors, and varieties. The touchless transactions, open kitchen concept, ghost kitchens and e-commerce trends (especially during Covid 19) are reshaping the food and beverage sector.
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Key Companies:
Euglena Co., Ltd., Algae Systems LLC., Cyanotech Corporation, Cargill, BIOPROCESS ALGAE, Algenol Biofuels Inc., LLC, Corbion, Algatechnologies, Cellana Inc., and Earthrise Nutritional.
Further key findings from the report suggest:
- These products are used in various applications such as FB, nutraceuticals dietary supplements, personal care, chemical, feed, and pharmaceuticals.
- Increasing use of these products in healthy food items to produce natural nutrient supplements, thereby emerging as a promising substitute for animal-based nutrition.
- The occurrence of key Phyto-ingredients like beta-carotene, carotenoids, omega three fatty acids, and astaxanthin in products with health benefits is experiencing a high demand from food supplement manufacturers, pharmaceutical, and nutraceuticals industry.
- Asia-Pacific regional segment of these product market is expected to remain highest growing segment during 2019-2026, at a CAGR of 6.2%; owing it to the untapped market potential offered by these products in developing nations such as China India.
- In 2016, DDW Inc. launched a product in the form of made from Spirulina with light stability improved by up to 40%. Demand for these products for cosmetic application is further adding up to the growing market over the forecast period.
- The Pharmaceuticals segment is expected to have a 20% market share during 2018-2026. These products are used in many pharma industries and end-use industries for production.
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Salient Trends of the Algae Products Market
- Increase in demand for natural products and active efforts done by industry players to formulate algae-based consumable products to satisfy quality, texture, and nutritional demand of consumers.
- These stuffs are used in various types of applications such as food beverages, nutraceuticals dietary supplements, personal care, chemical, feed, and pharmaceuticals.
- In the pharmaceuticals industry, these products are used for manufacturing antimicrobials, antivirals and anti-bacterial medicines, neuroprotective products, human therapeutic proteins, drugs for cancer treatment.
- The occurrence of key Phyto-ingredients like beta-carotene, carotenoids, omega three fatty acids, and astaxanthin in supplementing health benefits is experiencing a high demand from food supplement manufacturers, pharmaceutical, and nutraceuticals industry.
- Europe was dominating the industry in 2018 accounted for a higher consumption of these supplements and food items owing to increasing consumer awareness.
Market Segmentation:
Type (Revenue, USD Million; 2016–2026)
- Spirulina
- Chlorella
- Astaxanthin
- Beta Carotene
- Hydrocolloids (Agar, Alginates, and Carrageenans)
Application (Revenue, USD Million; 2016–2026)
- Food Beverages
- Nutraceuticals Dietary Supplements
- Personal Care
- Feed
- Pharmaceuticals
- Chemicals
- Fuel
Source (Revenue, USD Million; 2016–2026)
- Brown
- Blue-green
- Green
- Red
- Others (yellow-brown algae and golden algae)
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Identifying the basic business drivers, challenges, and tactics adopted:
- The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Algae Products market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
- An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
- Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
- The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
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