What is Microalgae Market Scope?
Microalgae refer to unicellular species typically found in marine and freshwater systems and live in both water column and sediment. It has numerous applications in the production of cosmetics, food and feed additives, and for energy production. Increasing awareness about microalgae as a rich source of nutrients driving the demand in the food and feed industry. Further, the rising application of microalgae in cosmetic products as they are useful in the treatment of skin disorders such as tanning, pigment disorder, and aging. In addition. Market players are focusing on the technological developments in the algaculture expected to drive the demand for microalgae over the forecasted period.
The Microalgae market study is being classified by Type (Spirulina, Chlorella, Arthrospira, Tetraselmis and Others), by Application (Food and Feed, Pharmaceuticals and Biofuels) and major geographies with country level break-up.
Number of players are present in the market hence fragmented nature of the market. Market players are focusing on the technological developments for the use of microalgae in the energy production. In addition. Increasing demand from the emerging economies expected to generate lucrative opportunities for the companies involved in the microalgae production. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Microalgae market throughout the predicted period.
Cyanotech Corporation (United States), DIC Corporation (Japan), TerraVia Holdings, Inc. (United States), E.I.D. Parry Limited (India), Cellana, LLC (United States), Fuqing King Dnarmsa Spirulina Co. Ltd. (China), Algae.Tec Limited (Australia), Taau Australia Pty Ltd. (Australia), Algenol (United States), Kent Bioenergy Corporation (United States), BASF (Germany) and DSM (Netherlands) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Cargill (United States), Kerry (Ireland), Ingredion (United States), Corbion (Netherlands) and Fenchem Biotek (China).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Microalgae market by Type, Application and Region.
On the basis of geography, the market of Microalgae has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
“The Food and Drug Administration (FDA, we, or the Agency) is amending the regulations for food additives permitted in feed and drinking water of animals to provide for the safe use of dried marine microalgae as a source of docosahexaenoic acid (DHA) for use in complete, dry foods for adult dogs. The food additive, marine microalgae, may be safely used as a source of docosahexaenoic acid (DHA) and other omega-3 fatty acids in accordance with the following prescribed conditions: Good manufacturing and feeding practices not to exceed 16.5 pounds per ton (7.5 kilograms (kg) per 1000 kg of complete, dry, adult maintenance dog food. The additive consists of not less than 17.0 percent hexaenoic acid (docosahexaenoic acid or DHA). The label and labeling of the additive, any feed premix, and complete feed, shall contain the name of the additive, marine microalgae.”
Influencing Market Trend
- Increasing Application of Microalgae as Major Source of Food Ingredients
- Rise In Demand for Microalgae as a Natural Food Colorants
Market Drivers
- Increasing Use of Microalgae as a Substitute for Biodiesel Feedstock
- Growing Research and Development in the Algaculture
Opportunities
- Increasing Demand for Microalgae for Cosmetics Production
- Rising Demand from the Emerging Economies for Energy Production
Restraints
- Stringent Government Regulation Regarding Use of Microalgae in the Food and Feed Industry
- High Processing Cost Associated with Microalgae Products
Challenges
- Impact of Climatic Conditions on the Production of Microalgae
Key Target Audience
Regulatory and Research Organizations, Raw Material Producers [Algae Cultivators], Suppliers and Distributors, Food & Beverage, Nutraceutical Products Retailers, Microalgae Products Manufacturers, Traders, Distributors, and Dealers and Others
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