The Business Research Company’s report on the Algae Products Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the algae products market in recent years?
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, in March 2022, according to Good Food Institute (GFI), a US-based non-profit organization and Plant Based Foods Association (PBFA), a US-based food association, due to the increased interest in healthy alternatives, 27 % of people chose to consume less meat and prefer plant-based foods. Therefore, growing demand for healthy food products drives the growth of the algae products market.
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What is the projected market size of the algae products Industry, and how is it expected to grow?
The algae products market size has grown strongly in recent years. It will grow from $14.03 billion in 2024 to $15.12 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to sustainability concerns, nutritional benefits, alternative protein sources, cosmetics and personal care, environmental regulations.
The algae products market size is expected to see strong growth in the next few years. It will grow to $21.91 billion in 2029 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to climate change mitigation,aquaculture and animal feed, plant-based foods, biofuels and renewable energy, circular economy initiatives. Major trends in the forecast period include plant-based food revolution, sustainable protein sources, marine ingredients in cosmetics, carbon sequestration applications, biotechnology advancements.
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Who are the key players driving competition in the algae products market?
Major companies operating in the algae products market include BASF SE, Cargill Inc., E. I. du Pont de Nemours and Company, DSM Nutritional Products AG, East India Distilleries & Parry Limited, Cellana Inc., BlueBioTech International GmbH, Corbion NV, Earthrise Nutritionals LLC, Cyanotech Corporation, AlgaeCan Biotech Ltd., Bioprocess Algae LLC, Algenol Biofuels Inc., Euglena Co. Ltd., Kerry Group plc, DIC Corporation, CP Kelco ApS, Algae Systems LLC, Acadian Seaplants Limited, Wild Irish Seaweeds Ltd., Beijing Leili Marine BioIndustry Inc., Archer Daniels Midland Company, ACCEL Carrageenan Corporation, Koninklijke DSM N.V., International Flavors & Fragrances Inc., Algae Bio-Tech India (P) Ltd., Algaen Corp, Algaeventure Systems (AVS), Algaetech International, Algarithm Ingredients Inc., Algix LLC
What key trends are expected to drive the alarm monitoring market during the forecast period?
The development of alternative protein sources such as microalgae is a key trend gaining popularity in the algae products market. Developing alternative protein sources such as microalgae is a crucial step toward achieving the necessary transformation to a more equitable and resilient food system. For instance, Unilever, a UK-based consumer goods company partnered with Algenuity, a UK-based company operating in algae products to develop innovative microalgae products for Unilever’s plant-based portfolio. Algenuity will work with the R&D team within Unilever’s Foods and Refreshment (F&R) division to explore different foods with microalgae.
Which key geographies are driving the growth of the algae products market?
North America was the largest region in the algae products market in 2024. The regions covered in the algae products market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the key segments driving growth in the algae products market?
The algae products market covered in this report is segmented –
1) By Type: Lipids, Carrageenan, Carotenoids, Alginate, Algal Protein
2) By Form: Liquid, Solid
3) By Source: Blue-Green Algae, Brown Algae, Green Algae, Red Algae
4) By Distribution Channel: Online, Offline
5) By Application: Food and Beverage, Nutraceutical and Diet Supplement, Animal Feed, Personal Care, Pharmaceutical, Other Applications
Subsegments:
1) By Lipids: Omega-3 Fatty Acids (EPA, DHA), Phospholipids, Triglycerides
2) By Carrageenan: Kappa Carrageenan, Iota Carrageenan, Lambda Carrageenan
3) By Carotenoids: Beta-Carotene, Astaxanthin, Lutein
4) By Alginate: Sodium Alginate, Calcium Alginate, Potassium Alginate
5) By Algal Protein: Spirulina Protein, Chlorella Protein, Other Microalgae Proteins
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What defines the structure and scope of the algae products market?
The algae products 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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