The global Algae
Products market is foreseen to grow at 6.5%, from USD 5.21 Billion in 2021 to
USD 8.62 Billion in 2029. Consumer awareness regarding the health benefits of
Omega-3, Multi-industry coverage, Growth in consumer awareness regarding the
health benefits of algae-based products is seen to propel the market growth
over the forecast period. However, Lack of R&D activities in
under-developed countries, Impact of climatic conditions on algae production yet
remains one of the factors restraining market growth.
Market Definition
What is Algae Products?
Commercial and
industrial algae cultivation has numerous uses, including production of food
ingredients such as omega-3 fatty acids or natural food colorants and dyes,
food, fertilizer, bioplastics, chemical feedstock (raw material),
pharmaceuticals, and algal fuel, and can also be used as a means of pollution
control.
Research Scope
The report
provides market value for base year 2021 and a yearly forecast from 2022 to
2029 in terms of revenue (USD Million). Market for each segment is present on
North America, Europe, Asia Pacific, Latin America and Middle East & Africa
as well as regional basis for the above-mentioned forecast period.
Key industry
dynamics, regulatory scenario, major material dynamics and Hip replacement
devices future markets are analyzed to understand their impact on demand for
the forecast period. Growth rates have been estimated using correlation,
regression and time-series analysis.
Market Overview
Algae Products
market report also provide a thorough understanding of the cutting-edge
competitive analysis of the emerging market trends along with the drivers,
restraints, challenges, and opportunities in the Algae Products market to offer
worthwhile insights and current scenario for making right decision. The report
covers the prominent players in the market with detailed SWOT analysis,
financial overview, and key developments of the products/services from the past
three years. Moreover, the report also offers a 360º outlook of the market
through the competitive landscape of the global industry player and helps the
companies to garner Algae Products market revenue by understanding the
strategic growth approaches.
Algae Products
Market study by “Zettabyte Analytics” provides details about the market
dynamics affecting the market, Market scope, Market segmentation and overlays
shadow upon the leading market players highlighting the favorable competitive
landscape and trends prevailing over the years.
Market Segmentation
For the purpose
of this report, the global Algae Products market is segmented on the basis of Product
Type, Source, Form, Application and region:
|
Product Type
|
|
Lipids
|
|
Carrageenan
|
|
Carotenoids
|
|
Algae protein
|
|
Alginates
|
|
Other Types (agar, algal flour, and dried algae)
|
|
|
|
Source
|
|
Brown Algae
|
|
Blue-green Algae
|
|
Green Algae
|
|
Red Algae
|
|
Other Sources (yellow-brown and golden algae)
|
|
|
|
Form
|
|
Solid
|
|
Liquid
|
|
|
|
Application
|
|
Food & Beverage
|
|
Nutraceutical & Diet Supplement
|
|
Animal Feed
|
|
Personal Care
|
|
Pharmaceutical
|
|
Other Applications (infant food, fortified food,
and pet food)
|
Product Type Outlook:
On the basis of
Product Type, the market is segmented into Lipids, Carrageenan, Carotenoids,
Algae protein, Alginates, Other Types.
Figure 1 - Algae Products Market, By Product
Type (Market Size And Forecast By Value - USD Million, 2021 & 2029)