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Global algae products market is expected to USD 5,383.9 Million by 2025 at a CAGR of 6.7% during the forecast period from 2018-2025. Rising demand for natural products and proactive efforts by market players to formulate algae-based consumable products, rise in global population and rising demand for food and customization of the functional food product are some factors affecting the demand of the market.

Market Overview:

Algae are defined as photosynthetic, oxygen-exhaling, unicellular, or multicellular microorganisms with varied properties such as consumption of carbon-dioxide, storage of essential nutrients, minerals, and vitamins in microorganisms. Algae compose organic food molecules from carbon dioxide and water with the help of photosynthesis. They are used in a large number of industries to commercially produce useful end products such as food pharmaceuticals and medicines, animal feed, fertilizer and as fuel. For instance, in Oct 2018, Texas-based companies and universities worked with the Algae Biomass Organization to bring the 2018 Algae Biomass Summit, an annual conference of investors, scientists and entrepreneurs to The Woodlands, October 14-17. It was the first time in its 12-year history that the largest algae conference in the world was held in Texas.

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Report Description:

  • The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The algae products market is analyzed by value (USD Million).
  • The report provides the key data of Production (‘000 Units), Consumption (‘000 Units), Import & Export (‘000 Units), Demand, Supply, and Gap Analysis to understand the present and future scenario of the market.
  • The study delivers a comprehensive analysis of global algae products market by type, source, application, form, and regions.
  • The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
  • Porter’s Five Forces model is used to recognize the competitive scenario in the global algae products market. This report incorporates the industry analysis which is focused on providing an extensive view of the algae products market.
  • The study also includes attractiveness analysis of type, source, application, form, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
  • The report provides company profile of the key players operating in the algae products market and a comparative analysis based on their business overviews, industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.

Market Dynamics: 

Drivers:

  • Growing demand for natural products and proactive efforts by market players to formulate algae-based consumable products.
  • Increase in global population and rising demand for food and customization of functional food product
  • Increased use of algae for production of livestock for aquaculture species.
  • Rising consumer awareness related to the health benefits of algae-based products

Restraints:

  • The negative effect of climatic conditions on algae production

Opportunities:

  • Favorable government initiatives to support research & development in algaculture
  • Increased preference of consumers for natural ingredients

Challenges:

  • Cost of processing is too high

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Regional Segmentation Analysis:

The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America held the largest market share of approximately40.20% in 2017.TheNorth America region is dominating region because of the growing aging population, rising healthcare awareness and rising incidences of health allergies which have all contributed to the growth of the nutraceutical industry, thereby contributing to the growth of the algae products market in the region

Competitive Analysis:

The major players ofmarketinclude BASF,Ingredion,Roquette Frères,FenchemBiotek, Corbion,Kerry, E.I.D Parry, DowDuPont, DSM, euglena Co., Ltd., Algae Systems LLC., Cyanotech Corporation, Cargill, Incorporated, Algenol Biofuels Inc., BIOPROCESS ALGAE, LLC, Algatechnologies, Cellana Inc., CP Kelco, and Earthrise Nutritional

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