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Algae Market Market 2018 : By Key Players Cyanotech Corporation, Dic Corporation, Corbion N.V, Valagro Spa, Far East Microalgae Industries Co. Ltd., Beijing Gingko Group, Heliae Development Llc, Pond Technologies Holdings Inc.
Algae
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The U.S. Department of Energy (DOE) encourages the production of fuels to blend stocks derived from biomass. This feed stock is applied in fundamental research that advances biomass conversion, production, and sustainability. For instance, the National Renewable Energy Laboratory (NREL) investigates economic production of these fuels, which includes technologies such as algal biomass systems and terrestrial biomass.
The global algae market was valued at US$ 3,769.6 million in 2018, and is expected to register a CAGR of 5.3% in terms of revenue over the forecast period (2019 – 2027), to reach US$ 5,978.4 million by 2027.
North America accounted for the largest market share in the global algae market in 2018. This is owing to the increasing use of algae in feed additives. Furthermore, Asia Pacific is predicted to record the fastest growth over the forecast period, attributing to rising spending of the populace on cosmetics and skincare products in the region.
Major players operating in the global algae market include Cyanotech Corporation, Dic Corporation, Corbion N.V, Valagro Spa, Far East Microalgae Industries Co. Ltd., Beijing Gingko Group, Heliae Development Llc, Pond Technologies Holdings Inc., Algaetech International Sdn Bhd, Fuqing King Dnarmsa Spirulina Co. Ltd., Sun Chlorella Corporation, and Ecoduna Ag.
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