Algae Market - Algae as living biocatalysts for a green industry
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.
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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.
Global Algae Market, By Cultivation Technology:
Global Algae Market, By Product Type:
Global Algae Market, By Application:
Food & Beverages
Animal and Fish Feed
Waste Water Treatment
Specialty Chemicals and Polymers
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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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