Algae Products Market by Application and Geography - Forecast and Analysis 2022-2026

The algae products market share is expected to increase by USD 1.31 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.74%.

This algae products market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers algae products market segmentation by application (food and beverages, pharmaceutical, personal care, dietary supplements, and others) and geography (Europe, APAC, North America, South America, and MEA). The algae products market report also offers information on several market vendors, including Algatech Ltd., BASF SE, Cargill Inc., Corbion nv, CP Kelco US Inc., Cyanotech Corp., DuPont de Nemours Inc., E.I.D. - Parry (India) Ltd., FENCHEM, and Koninklijke DSM NV among others.

What will the Algae Products Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Algae Products Market Size for the Forecast Period and Other Important Statistics

 

Algae Products Market: Key Drivers and Challenges

The health benefits associated with algae products are notably driving the algae products market growth, although factors such as high processing costs for algae products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the algae products industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Algae Products Market Driver

Algae are a natural source of omega-3 fatty acids, essential for the human body. Omega-3 fatty acids are known as anti-inflammatory agents that reduce blood clots in the body. The fats derived from algae are sustainable and serve as a vegan alternative for animal fats-based supplements. The consumption of algae products such as DHA omega-3 is essential during pregnancy to aid brain growth in the fetus and support a healthy pregnancy. The consumption of DHA during pregnancy results in higher novelty preference on visual recognition memory and higher scores for verbal intelligence of the child. The consumption of algae products is also good for eye health. Moreover, the consumption of algae fats is known to regulate heartbeat, reduce blood pressure, decrease blood clot formation, reduce overall inflammation, and improve cardiovascular health.  These health benefits of algae products will fuel the growth of the market during the forecast period.

Key Algae Products Market Challenge

The high processing cost of algae products from algae is a major challenge to the market. The cost of processing the products generated from algae is higher than the current market selling price. A multi-product biorefinery is essential to make the microalgal production of algae fats economically feasible. There are different ways to process algae products from algal biomass, including one done in Photobioreactors (PBR) and others procured from open water bodies like ponds. The cost to produce algal biomass in a PBR is much lower than for algal biomass produced from open water bodies like ponds. However, most of the algae are found in open water bodies, and therefore, require extensive capital and labor to process products like fats and oils. 

This algae products market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Algae Products Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Algatech Ltd.
• BASF SE
• Cargill Inc.
• Corbion nv
• CP Kelco US Inc.
• Cyanotech Corp.
• DuPont de Nemours Inc.
• E.I.D. - Parry (India) Ltd.
• FENCHEM
• Koninklijke DSM NV

 

This statistical study of the algae products market encompasses successful business strategies deployed by the key vendors. The algae products market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The algae products market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Algae Products Market?

For more insights on the market share of various regions Request for a FREE sample now!

33% of the market's growth will originate from APAC during the forecast period. China is a key market for algae products in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Algae Products Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The algae products market share growth by the foods and beverages segment will be significant during the forecast period. The growing global demand for macroalgal and microalgal foods is attributable to the increasing consumption of algae for functional benefits that are beyond the traditional considerations of nutrition and health. The increasing use of algae in the food and beverage sector worldwide is attributable to the growing awareness of the health-promoting benefits of algae. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the algae products market size and actionable market insights on post COVID-19 impact on each segment.

You may be interested in:

Algae-based Animal Feed and Ingredients market - The market share is expected to increase by USD 822.67 million from 2021 to 2026.

Algae Omega 3 Ingredient market - The market share is expected to rise to USD 797.48 million from 2021 to 2026.

Algae Protein market - The market share is expected to increase by USD 171.7 million from 2021 to 2026.

Algae Products Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 6.74%
Market growth 2022-2026	$ 1.31 billion
Market structure	Fragmented
YoY growth (%)	5.60
Regional analysis	Europe, APAC, North America, South America, and MEA
Performing market contribution	APAC at 33%
Key consumer countries	US, UK, China, France, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Algatech Ltd., BASF SE, Cargill Inc., Corbion nv, CP Kelco US Inc., Cyanotech Corp., DuPont de Nemours Inc., E.I.D. - Parry (India) Ltd., FENCHEM, and Koninklijke DSM NV
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

What are the Key Data Covered in this Algae Products Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive algae products market growth during the next five years
• Precise estimation of the algae products market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the algae products industry across Europe, APAC, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of algae products market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch