Global Algae Products Market Report 2022 – Market Forecast, Trends And Strategies
19 Sep, 2022
The global algae products market size is expected to grow from $10.96 billion in 2021 to $12.02 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The global algae product market size is expected to grow to $15.73 billion in 2026 at a CAGR of 7%.
What is the Global Algae Products Market?
The algae products market consists of sales of algae products by entities (organizations, sole traders, and partnerships) that refer to a class of photosynthetic organisms found in both marine and freshwater habitats and are used in various industries for different purposes. As these organisms have a short doubling time, they are considered among the fastest-growing creatures. Algae are oxygen-exhaling, unicellular, or multicellular microorganisms that consume carbon dioxide and store essential nutrients, minerals, and vitamins.
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What drives the Global Algae Products Market?
The growing demand for healthy food products is expected to propel the growth of the algae products market going forward. Healthy food products are those that contain nutrients that support the body's well-being and aid in energy retention. Algae products contain a variety of beneficial elements, including carbohydrates, polyunsaturated fatty acids, essential minerals, and vitamins, which are commonly utilized in healthy foods. For instance, according to BioMed Central (BMC), a UK-based open-access publisher, in 2020 16.7% of the population improved their food behaviour by consuming nutritious food which helps in maintaining their immunity, while 34.4% of responders increased their appetite in consumption of nutritious food. Therefore, growing demand for healthy food products drives the growth of the algae products market.
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Global Algae Products Market Segments
The global algae products market is segmented:
By Type: Lipids, Carrageenan, Carotenoids, Alginate, Algal Protein
By Source: Blue-Green Algae, Brown Algae, Green Algae, Red Algae
By Distribution Channel: Online, Offline
By Application: Food and Beverage, Nutraceutical and Diet Supplement, Animal Feed, Personal Care, Pharmaceutical, Others
By Geography: The regions covered in the algae products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global algae products market.
Algae Products Global Market Report 2022 provides market size and growth forecasts for the global algae products market, global algae products market share, algae products market segments and geographies, algae products market competitive landscape including leading competitors’ revenues, profiles and market shares. The algae products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Algae Products Industry Players include BASF SE, Cargill Incorporated, DuPont de Nemours Inc., DSM Nutritional Products AG, EID Parry, Cellana Inc., BlueBioTech Int. GmbH, Corbion NV, Earthrise Nutritionals LLC, Cyanotech Corporation, AlgaeCan Biotech Ltd., Bioprocess Algae LLC, Algenol Biofuels Incorporated, Euglena Co. Ltd, Kerry Group PLC, DIC Corporation, CP Kelco, and Algae Systems LLC. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.