Algae Products Market Overview
The Algae Products Market is expected to index a valuation of $XX million from a value of $XX registered in 2021. Over the course of this forecast timeline, the global scroll & absorption chillers market is slated to index a CAGR of X.X%.
The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.
The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global algae products market report has been segmented on the basis of application, source, and region.
Algae are found in a range of aquatic habitats and are usually grown in moist areas. Algae is widely used as a primary as well as a secondary source of ingredient in various products which includes nutraceutical, medicinal, personal care, biofuel, bio fertilizer, etc.
Algae is also used for pollution control and has the ability to offer a higher yield as compared to biofuel feedstock.
Increasing usage of algae in the pharmaceutical industries for manufacturing antimicrobials, neuroprotective products, antivirals, and antifungal medicines is a key factor expected to drive the growth of the global algae products market over the forecast period. An increasing number of research activities for developing algae-based products having wider application scope is another factor expected to boost the growth of the market over the forecast period.
Increasing demand for algae in food & beverages, dietary supplements, and feeds as well as in the plastic industry for manufacturing biodegradable plastic is another factor expected to contribute to the growth of the global algae products market over the forecast period. Growing awareness regarding the health benefits provided by algae-based products is expected to drive the growth of the market.
However, the high setup cost for the production system of algae is a major factor expected to restrain the growth of the global algae products market over the forecast period.
North American market dominates the global algae products market in terms of revenue contribution as compared to that of markets in other regions. This is attributed to the presence of a large number of companies engaged in the cultivation of algae, and favorable government support in the region.
Europe accounts for a larger revenue share contribution to the global algae products market, followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively.
The market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 10 years, owing to the increasing number of cases of high blood pressure, and diabetes as well as increasing funding for research and development by the players operating in the market.
Global Algae Products Market Segmentation:
Global algae products market segmentation, by application:
- Food & beverages
- Dietary supplements
- Personal care products
- Others (pet food, and infant food)
Global algae products market segmentation, by form:
Global algae products market segmentation, by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Koninklijke DSM N.V.
- BASF SE
- Cyanotech Corporation
- The Dow Chemical Company
- Kerry Group
- Ingredion Incorporated
- Sapphire Energy Inc.
- AlgaTechnologies Ltd.
- Kent BioEnergy Corporation
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