Algae Products Market Scope
Algae is an extremely diverse group of organisms that make up the lower phylogenetic echelons of the plant kingdom. An algae have many obvious characteristics with higher (land) plants, whereas their distinguishing features from other plant groups are varied and more subtle. The methods of production of commercial products from algae range from, at one extreme, the harvesting of wild stands of macro algae with minimal postharvest processing and at the other extreme, the intensive cultivation of microalgae in closed culture systems such as fermentation systems or their photosynthetic equivalent with extensive postharvest processing.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | DSM (Netherlands), BASF (Germany), Cyanotech Corporation (United States), Cargill (United States), Dowdupont (United States), Kerry Group (Ireland), Ingredion Incorporated (United States), CP Kelco (United States), Corbion (Netherlands) and Roquette Frères (France) |
CAGR | 6.6% |
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Algae Products market throughout the predicted period.
DSM (Netherlands), BASF (Germany), Cyanotech Corporation (United States), Cargill (United States), Dowdupont (United States), Kerry Group (Ireland), Ingredion Incorporated (United States), CP Kelco (United States), Corbion (Netherlands) and Roquette Frères (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Fenchem Biotek (China), Algatechnologies (Israel) and E.I.D. Parry (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Algae Products market by Type , by Application (Food & Beverages, Nutraceuticals & Dietary Supplements, Feed, Pharmaceuticals, Personal Care Products and Others) and Region with country level break-up.
On the basis of geography, the market of Algae Products 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).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In May 2019 Solabia Group announces that it has acquired Algatech Ltd. a global innovative leader in the development, cultivation and commercialisation of ingredients delivered from microalgae and used by leading food supplement, food and cosmetic brands
In March 2023,Triton Algae Innovations, a San Diego-based future food startup company, has announced the launch of a new CPG (consumer packaged goods) product: an Asian-style dumpling with a cabbage, onion & alternative pork filling. This new dumpling, which will be marketed under the brand name Too Good To Be was rolled out at the annual Natural Products Expo West trade show, which is taking place at the Anaheim Convention Center, March 8-12, 2023.
The Harmful Algal Bloom and Hypoxia Research and Control Amendments Act of 2014 (also known as HABHRCA) requires the National Oceanic and Atmospheric Administration (NOAA) and USEPA to advance the scientific understanding and ability to detect, monitor, assess, and predict HAB and hypoxia events in marine and freshwater in the U.S. These act also requires to maintain and enhance a national program to control and mitigate harmful algal bloom and hypoxia events, delineates the role of the Task Force (Interagency Working Group or IWG), and to develop reports and plans to reduce the likelihood of HABs formation and to mitigate their damage.
Influencing Trend:
Rise in Demand for Natural Ingredients by Consumers
Market Growth Drivers:
Growing Population and Increase in Demand for Natural Ingredient, Research & Development of Algae into Essential Commercial Products and Increasing Government Initiatives Toward Algae
Challenges:
High Processing Cost of Algae Products
Restraints:
Impact on Algae Production Due to Climatic Conditions
Opportunities:
Easy To Cultivate Due to Advancements in Cultivation Technology
Key Target Audience
Manufacturers of Algae Products, Suppliers of Algae Materials, Wholesalers, Distributers and Retailers of Algae Products, Food Industry, Governmental Bodies and Research Firms