Latest Emerging Industry research on Algae Market with Future Opportunities, Trends and Forecast 2026| Cyanotech Corporation, Dic Corporation, Corbion N.V, Valagro Spa, Far East Microalgae Industries Co. Ltd., Beijing Gingko Group, Heliae Development Llc

Algae are photosynthetic eukaryotic organisms that grow in aquatic climates and use light and carbon dioxide (CO2) in order to create biomass. The market demand is continuously growing for macro algae and micro algae food, owing to the functional benefits beyond the traditional considerations of health and nutrition. Furthermore, algae has the ability to offer higher oil yield as compared to biofuel feedstock containing sorghum, corn Stover, beet, and corn.

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Algae extraction and production involves high-cost equipment and expensive techniques. High investments in R&D for improving the production techniques to reduce cost by the government and companies is expected to serve as a major opportunity for the market.

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.

Based on application, in 2018, food & beverage segment held the largest share in the global algae market. In 2018, the segment contributed around 21.0% of the total revenue share in the algae industry worldwide. Algae is rich in fiber, particularly macroalgae, which are used to prepare food. Most of the edible macroalgae or seaweed are grown in marine algae, while freshwater algae are toxic in nature. Seaweeds are eaten across the globe, though it is mostly consumed in China, Japan, and Korea, owing to which the market share of algae in food segment is maximum for Asia Pacific.

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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