Algae Products Market by 2025 with Industry Key Players euglena Co., Ltd., Algae Systems LLC., Cyanotech Corporation, Cargill Incorporated, Algenol Biofuels Inc.
Increase in global population and rise in demand for convenience food products such as pasta, drinks, cakes, bread, gravies, and pastry drive the growth of the market. Moreover, increased demand for nutritional food additives due to the growing requirement for healthy food products, aquaculture feed for fish breeding, and omega3 fatty acid supplement the market growth.
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According to the report by Allied Market Research, the global algae products market was valued at $2.47 billion in 2017 and is projected to reach $3.45 billion by 2025, registering a CAGR of 4.2% from 2018 to 2025. The report offers in-depth analyses of the global algae market by closely monitoring the market trends, drivers & opportunities, top investment pockets, key growth strategies, and competitive landscape.
Changes in calcium level and fluctuation in blood pressure due to the consumption of algae-based pharmaceutical products is expected to hamper the market growth. Nevertheless, promotion of algae research and production by government organizations worldwide to reduce carbon footprint, technological advancements to bring down the cost of biofuels manufactured using algae as a raw material, and use of byproducts of the process as a stimulator or fertilizer for soil as well as feedstock for animals would offer lucrative prospects to the market.
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