Algae Market Revenue Analysis By Top Key Players Algaetech International, Aurora Algae, BlueBioTech International, and Alltech Algae
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Algae has the ability to offer higher yield as compared to biofuel feedstock containing sorghum, corn Stover, beet, and corn. Thus, creating immense opportunities for growth of the algae market. Growing research and development activities among manufacturers is expected to fuel the market growth. Increasing demand for reliable, sustainable, and low cost sources of energy to ease the petroleum supply chain and to meet the increasing demand from aviation and automotive sector, are major factors expected to drive growth of the global algae market during the forecast period. Moreover, the demand for algae in the plastic industry to manufacture biodegradable plastic, is another factor boosting market growth.
Algae Market Taxonomy:
On the basis of cultivation technology, the global algae market can be segmented into:
• Raceway Ponds Cultivation
• Open Ponds Cultivation Technology
• Closed Fermenter Systems Cultivation Technology
• Closed Photo Bioreactor Cultivation Technology
On the basis of application, the global algae market can be segmented into:
• Marine Sector
• Road Transport
• Bio plastic
• Aviation Sector
• DHA production( Protein sales)
• DHA production( Pharmaceutical applications)
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