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Algae Market - Algae as living biocatalysts for a green industry

Algae

Algae

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. Thus, creating immense opportunities for growth of the global algae market.

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.

Detailed Segmentation:

Global Algae Market, By Cultivation Technology:
Open Pond
Natural Settings
Closed System

Global Algae Market, By Product Type:
Microalgae
Macroalgae

Global Algae Market, By Application:
Food & Beverages
Nutraceutical
Pharmaceutical
Cosmetics
Animal and Fish Feed
Biofuel
Waste Water Treatment
Fertilizer
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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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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