Algae Products Market was valued at USD 3.74 billion in 2017 and is estimated to grow at a CAGR of 6.5% from 2017 to 2024.
Algae Products MarketAlgae Products Market1Algae have chlorophyll as their main photosynthetic pigment and lack sterile coverage of cells around their reproductive cells. Green algae are examples of algae that have primary chloroplasts derived from endosymbiosis cyanobacteria.
The Algae Products Market is fueled by growing demand for algae from the pharmaceutical and nutraceutical industries, increase in use of microalgae pigments due to stringent regulations on the use of synthetic dyes and flavors, and increasing consumer preference for algae. In addition, the emergence of new areas of application and the growing usage of algae in biofuel production offers significant opportunities in the Algae Products Market.
Algae Products Market is segmented by application, type, source, form, and region. Other objectives include analyzing market opportunities for stakeholders and providing a competitive landscape of market trends, analyzing the macro and microeconomic indicators of this market to provide factor analysis and projecting the growth rate of the Algae Products Market.
Geographically, North America held the largest share of the algae products market in 2016, followed by Europe and Asia-Pacific. However, the Asia-Pacific region is expected to experience significant growth over the forecast period due to the growth of the health food industry, the pharmaceutical sector and the demand for personal care products. In addition to this, it is the high investments and the government initiatives for the production of micro-algae in the region that is further expected to boost the Algae Products Market.
The key players in the algae products market include BASF (Germany), DowDuPont (US), DSM (Netherlands), Cyanotech Corporation (US), Cargill (US), Kerry (Ireland), Ingredion (US), Corbion (Netherlands), Fenchem Biotek (China), and E.I.D. Parry (India).
The years that have been considered for the study are:
- Base year – 2016
- Estimated year – 2017
- Forecast period – 2017 to 2024
- Regulatory and research organizations
- Raw material producers (algae cultivators), suppliers, and distributors
- Food & beverage, nutraceuticals products retailers
- Algae products manufacturers, traders, distributors, and dealers
Algae Products Market Key Segment:
Algae Products Market – On the basis of Application
- Food & beverages
- Nutraceuticals & dietary supplements
- Personal care products
- Others (pet food, fortified food, and infant food)
Algae Products Market – On the basis of Type
- Algal protein
- Others (algal flour, dried algae, and agar)
Algae Products Market – On the basis of Source
- Brown algae
- Blue-green algae
- Green algae
- Red algae
- Others (yellow-brown algae and golden algae)
Algae Products Market – On the basis of Form
- BASF (Germany)
- DowDuPont (US)
- DSM (Netherlands)
- Cyanotech Corporation (US)
- Cargill (US)
- Kerry (Ireland)
- Ingredion (US)
- Corbion (Netherlands)
- Fenchem Biotek (China)
- E.I.D. Parry (India).
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Algae Products Market, By Region
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Rest of the World (ROW)
- Latin America
This Report Is Submitted By @Global Market Research Company
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