Algae Products Market Size, Share & Growth, Industry Analysis, Trends, Forecast Report 2027

The global Algae Products market size is projected to reach US$ 7935.5 million by 2026, from US$ 6765 million in 2019, at a CAGR of 2.3% during 2021-2026. Algae products are simple plants that can range from the microscopic (microalgae), to large seaweeds (macroalgae), such as giant kelp more than one hundred feet in length.

Algae products can be grown using water resources such as brackish-, sea-, and wastewater unsuitable for cultivating agricultural crops. When using wastewater, such as municipal, animal, and even some industrial runoff, they can help in its treatment and purification, while benefiting from using the nutrients present.

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Algae products refer to simple plants that can range from the microscopic (microalgae), to large seaweeds (macroalgae), such as giant kelp more than one hundred feet in length. Algae products could be classified as eucheuma, laminaria japonica, gracilaria, undaria pinnatifida, porphyra and others, and mainly be applied in animal & aquaculture feed, biofuels & bioenergy, food, chemicals, and others. At present, the food industry is the largest consumer of algae products, which occupied 33.60% market share in 2017.

The algae products industry is developing fast in the last five years. The global production increased from 24580.7 K MT in 2013 to 28073.1 K MT in 2017, with a CAGR of 3.38%.

For the aquaculture environment factor, this industry is distributed around the coastline. As a result, China is the largest production base. As for the consumption region, China is also the largest consumer of algae products. In 2017, China consumed 11338.0 K MT of algae products. Indonesia is the follower with about 20% consumption share.

Currently, as the downstream demand is rising, algae products are developing in steady growth.

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Algae Products Market Segment by Type

o Eucheuma
o Laminaria Japonica
o Gracilaria
o Porphyra
o Undaria Pinnatifida
o Others

Algae Products Market Segment by Application

o Animal & Aquaculture Feed
o Biofuels & Bioenergy
o Food
o Chemicals
o Others

The major players in the market include Weihai Shidai Marine Biotechnology, Shandong Lidao Oceanic Technology, Fujian Lianjiang Tianyuan Aquatic, Xunshan, Qingdao Gather Great Ocean Algae, Fujian Yiyuan Sea Food, Fujian Huangqiwan Sea Food Biotechnology, Rongcheng Lidao Chenfenzhuang Hongqiang Kelp, Rongcheng Lidao Chenfenzhuang Weijian Kelp, Rongcheng Yandunjiao Aquatic, Shandong Gaolv Aquatic, Shandong Haizhibao Technology, Matsumaeya, Shemberg, Karagen Indonesia, MCPI, etc.

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This release was published on openPR.