Reports and Data’s Global Algae Products Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry’s driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.
The global Algae Products Market size was USD 5.48 billion in 2022, and is expected to reach USD 8.92 billion in 2032, and register a revenue CAGR of 6.8% during the forecast period. The rise in the demand for healthy sustainable food choices and the growing concern over the depletion of non-renewable resources are the main factors driving the market revenue growth. While algae products provide a high supply of minerals and protein, the rising popularity of veganism plant-based diets has been a significant influence in increasing the demand for them.
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Strategic Development:
- In 2021, Royal DSM N.V. announced the launch of its new algae-based feed ingredient for the aquaculture industry. The ingredient is produced using a unique strain of algae that is rich in essential fatty acids and other nutrients, making it an ideal feed ingredient for fish and shrimp.
- In 2020, Solazyme Inc. announced a strategic partnership with Bunge Limited to produce and commercialize microalgae-based products. The partnership was aimed at leveraging Solazyme’s expertise in microalgae-based products and Bunge’s global reach expertise in the food feed industry.
- In 2020, TerraVia Holdings, Inc. announced a joint development agreement with Nestle to develop innovative food beverage products using microalgae-based ingredients. The agreement is aimed at developing sustainable and nutritious food beverage products that meet the growing demand for healthy sustainable products.
- In 2020, Cyanotech Corporation announced a strategic partnership with NaturaExtracta to develop and commercialize microalgae-based products for the nutraceutical cosmetic industries. The partnership aimed at leveraging Cyanotech’s expertise in microalgae-based products and NaturaExtracta’s expertise in the nutraceutical cosmetic industries.
Top Companies:
- Algaetech International Sdn Bhd
- DuPont de Nemours, Inc.
- Fuji Chemical Industries Co., Ltd.
- Kyowa Hakko Bio Co., Ltd.
- Cyanotech Corporation
- EID Parry (India) Limited
- Phycom BV
- Royal DSM N.V.
- Solazyme Inc.
- TerraVia Holdings, Inc.
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By Product Type Outlook
- Food Beverages
- Nutraceuticals
- Cosmetics
- Biofuels
- Others
By Source Outlook
- Spirulina
- Chlorella
- Dunaliella
- Others
By End-use Outlook
- Food Beverages
- Nutraceuticals
- Cosmetics
- Biofuels
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
The Algae Products market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Algae Products market.
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Algae Products market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Algae Products market over the forecast years?
- Which are the leading players in the global Algae Products market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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