How to Algae Products Market Revenue Continues to Dominate with CAGR of 4.2% to 2025
Algae are a diverse group of plants without steam and roots that convert carbon dioxide, nutrient & minerals from water, and sunlight into organic matter. They are used as replacement for feed additives, fossil fuel, and fish & palm oil manufactured protein used in animal feedstock. An estimated 200,000 species of algae are found across the globe of which 200 species are used for various applications such as feed, food, pharmaceutical, and chemical applications. Algae a source of essential nutrient, is divided based on thallus color, brown, red, green, and blue green. Among all seaweeds, green algae are consumed on large scale due to high algal protein content and commercial application such as production of organic beta-carotene in Australia; thus it holds a dominant position in the global algae products market.
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Increase in prevalence of disease and rise in demand of quality food product & livestock feed are the prime concerns for consumer inclination for consumption of naturally synthesized algae products. One of the factors that drives the growth of the market includes the approval of chlorella, spirulina and other algae for use in food, feed, nutraceutical & dietary supplements as well as the personal care industry. Nori, a species of red algae used to wrap sushi roll, is sold as roasted snack in American grocery stores owing to migration of occupants from Asia-Pacific countries to Europe and North American countries. In addition, North America focuses on the development of sustainable sea food communities by developing underwater algae garden for algae farming. The technique of farming is known as 3D ocean farming that utilizes entire column of water to grow various species of algae and also helps restore the ocean. R&D on algae leads to increase in its applications such as fertilizer, biofuel, animal feed and wastewater treatment and untapped markets in North America and Europe are anticipated to open new opportunities for the manufacturers of algae products.
Hydrocolloids dominated the algae products market in 2017, accounting for around 49.2% of the overall market revenue. Hydrocolloids form gel in the presence of water, influence texture, and viscosity, and hence are used in different food & beverage applications. Beta carotene, a carotenoid algae product, is expected to be a significant rate during the forecast period.
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Key Benefits for Algae Products Market:
• This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global algae products market size from 2018 to 2025 to identify the prevailing market opportunities.
• The key countries in all the majors regions are mapped based on their market shares.
• Porters five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier buyer network.
• A comprehensive analysis of factors that drive and restrict the growth of the global algae products market is provided.
• An in-depth analysis of the global algae products market helps determine the prevailing market opportunities.
• The report includes details of the analysis of the regional and global markets, key players, market segments, application areas, and growth strategies.
Algae Products Market Key Market Segments:
• Beta Carotene
• Hydrocolloids (Agar, Alginates, and Carrageenans)
• Brown Algae
• Blue-Green Algae
• Red Algae
• Green Algae
• Food & Beverages
• Nutraceuticals & Dietary Supplements
• Personal Care
• North America
• Euglena Co., Ltd.
• Algae Systems LLC
• Cyanotech Corporation
• Cargill, Incorporated
• Algenol Biofuels Inc
• BIOPROCESS ALGAE, LLC
• Cellana Inc
• Earthrise Nutritional.
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