Algae Products Market 2021-2026 | Industry Trends, Size, Share, Demand and Forecast

According to the latest report by IMARC Group, titled, "Algae Products Market Research: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", the global algae products market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026.

Algae products refer to the essential sources of minerals, vitamins, fatty acids, etc., that are widely utilized in the preparation of dietary supplements. They have numerous beneficial properties, including being antioxidant, antihypertensive, anticoagulant, antiproliferative, immunostimulatory, etc. These products help in increasing dopamine, preventing diseases, healing wounds, promoting healthy skin, etc. Moreover, algae products find extensive applications in food products and beverages as stabilizers, emulsifiers, thickeners, main ingredients, flavoring agents, etc.

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Market Trends

The elevating global population levels, coupled with the rising prevalence of chronic diseases, are among the primary factors driving the algae products market. Moreover, the changing consumer lifestyles and the rising popularity of healthy food products and dietary supplements are further augmenting the market growth. Besides this, algae products are being increasingly used in the sequestering and removing of pollutants, such as nutrients, heavy metals, xenobiotics, etc., from wastewater. Additionally, their surging adoption in the beauty and personal care sector for detoxifying, cleansing, and toning the skin, as well as for improving skin elasticity and suppleness, aiding the renewal of damaged skin cells, etc., is bolstering the product demand. Furthermore, due to their abundant, resilient, and cost-effective nature, they are being utilized in biologic drugs across the globe, which is also stimulating the market. Apart from this, the growing product adoption for producing livestock for aquaculture varieties, including fish for cultivation, is expected to catalyze the algae products market over the forecasted period.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

ACCEL Carrageenan Corporation
Algatechnologies Ltd
Algenol
Archer-Daniels-Midland Company
BASF SE, Caldic B.V.
Cargill Incorporated
Cellana Inc
Corbion N.V.
Cyanotech Corporation
DuPont de Nemours Inc
Koninklijke DSM N.V.
TBK Manufacturing Corporation.

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The report has segmented the market based on type, source, form, distribution channel and application.

Breakup by Type:
Lipids
Carrageenan
Carotenoids
Algal Protein
Alginate
Others

Breakup by Source:
Brown Algae
Blue-Green Algae
Red Algae
Green Algae

Breakup by Form:
Solid
Liquid

Breakup by Distribution Channel:
Online
Offline

Breakup by Application:
Food and Beverages
Nutraceuticals and Dietary Supplements
Personal Care
Feed
Pharmaceuticals
Chemicals
Others

Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

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