Global Algae Product Market Size grew from approximately US$ 3 Billion in 2017 to approximately US$ 5 billion in 2022 – Ken Research

ByKen Research

GLOBAL ALGAE PRODUCT MARKET BY SOURCE

The Global Algae Product market is segmented by Source into Brown Algae, Red Algae, Green Algae, Blue-green Algae and Others.

The brown algae segment accounted for the largest market share in 2022, because of its extensive usage in the food and beverages industry.

Brown algae are a group of algae belonging to the class Phaeophycean. Brown algae are algal species characterized by being multicellular and having a brown or greenish-brown color.

Brown algae is highly used as edible seaweed such as laminaria, sargassum, and others. After extracting the alginic acid, it is widely used in the food industry as a thickening agent.

COMPETITION SCENARIO IN GLOBAL ALGAE PRODUCT MARKET

The global algae product market is moderately competitive with ~100 players which include globally diversified players, country-niche, and players as well as a majority number of regional players having their niche in producing, manufacturing, and distributing algae products.

Regional players constitute the largest by type. While large global players control about 25%. Some of the major players in the market include Cargill Incorporated, ADM, Kerry Group, DSM, Cyanotech Corporation, Caldic B.V., TBK Manufacturing Corporation, Cellana Inc., Algatech Ltd, Corbion, and others.

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What is the Expected Future Outlook for the Overall Global ALGAE PRODUCT Market Across the globe?

The Global Algae Product market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Algae Product market is driven by the extensive usage of algae into various end-products including cakes, ice-creams, aquatic-feed agents, moisturizer, and other agriculture products. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing innovation and emergence of new products, the Global Algae Product market is changing rapidly. For instance, In April 2021, Yemoja released a new algae-based skincare component with external polysaccharide sulfate (EPS) topical beauty ingredient derived from red algae. In February 2020, Cargill introduced the WavePure ADG series which is sourced from Gracilaria red seaweed, which is considered a traditional food ingredient in the European Union.

Furthermore, COVID-19 has decelerated the growth of the algae product market. This is because of the temporary shutdown of manufacturing plants, country-wide lockdowns, and disruption in the supply chain. But as the market is recovering, restrictions are easing down, and people are more aware of the health regime, is likely to be estimated that the algae product market will gain healthy returns within the forecast period.

The global algae product market witnessed significant growth during the period 2017-2021, owing to the awareness among people regarding health and various other infectious diseases. The growth rate is expected to remain significant during the forecast period. Though the market is significantly competitive with ~100 participants, the majority of regional players dominate the market share by type, and global players hold a significant share.

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Key Topics Covered in the Report

  • Snapshot of the Global Algae Product Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Global Algae Product Market
  • Historic Growth of the Overall Global Algae Product Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of the Global Algae Product Industry
  • Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
  • COVID-19 Impact on the Overall Global Algae Product Market
  • Future Market Forecast and Growth Rates of the Total Global Algae Product Market and by Segments
  • Market Size of Source / Application Segments with Historical CAGR and Future Forecasts
  • Analysis of the Global Algae Product Market
  • Major Production/Supply and Consumption/Demand Hubs in Each Major Region
  • Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Major Continent

Notable Emerging Companies Mentioned in the Report

  • Algal Bio Co., Ltd.
  • Affiliate Nutra
  • Primary Ocean Producers
  • Redono
  • SMPNutra

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Algae Product Manufacturing Companies
  • Algae Product Distribution Channels
  • Algae Product Oil Extracting Companies
  • Potential Investors in Algae Product Companies
  • Algae Additives Manufacturing and Extracting Companies
  • Supplements Manufacturing & Distributing Company
  • Algae and Vegetable Oil Extracting Companies
  • Consulting Companies in the Algae Product Market
  • Government And Research Organizations Working in Food Industry
  • Investment Banks Targeting Food Industry
  • Company Research and Development Institutes
  • Market Research & Consulting Firms
  • Banking and Financial Service Providers
  • Government & Regulatory Authorities
  • Packaging Material Suppliers
  • Investors in Food Start-ups
  • Start-ups & Incumbents in Food Sector
  • Certification & Inspection Companies
  • F&B Marketing Agencies

Time Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022-2028F

For more insights on the market intelligence, refer to the link below:-

Global Algae Products Industry Outlook

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