Industry Overview of Algae Market from 2022 to 2031

𝐀𝐥𝐠𝐚𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏

• The global algae market was valued at US$ 20.16 Bn in 2021
• It is estimated to grow at a CAGR of 10.9% from 2022 to 2031
• The global algae market is expected to reach US$ 55.67 Bn by the end of 2031

𝗚𝗲𝘁 𝗣𝗗𝗙 𝘀𝗮𝗺𝗽𝗹𝗲 𝗳𝗼𝗿 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗮𝗻𝗱 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗜𝗻𝘁𝗲𝗹𝗹𝗶𝗴𝗲𝗻𝗰𝗲 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=14804

𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 𝗼𝗳 𝗚𝗹𝗼𝗯𝗮𝗹 𝗔𝗹𝗴𝗮𝗲 𝗠𝗮𝗿𝗸𝗲𝘁

Algae are defined as a group of predominantly aquatic, photosynthetic, and nucleus-bearing organisms that lack true roots, stems, leaves, and specialized multicellular reproductive structures of plants. Algae reproduce rapidly and need only sunlight (or another form of energy such as sugar). There are tens of thousands of species of algae worldwide. Autotrophic microalgae are cultivated on land in large ponds, or in enclosed so-called photobioreactors, using enriched CO2. Heterotrophic microalgae are grown in large fermenters using sugar or starch. Seaweed (macroalgae) is cultivated in seawater. Algae are used in various industries. They are used in human food, animal and aquaculture feed, organic farming, and fertilizer products.

𝗘𝗻𝗾𝘂𝗶𝗿𝘆 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=14804

𝗡𝘂𝘁𝗿𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗔𝗹𝗴𝗮𝗲 𝗶𝗻 𝗟𝗶𝘃𝗲𝘀𝘁𝗼𝗰𝗸 𝗙𝗲𝗲𝗱 𝘁𝗼 𝗗𝗿𝗶𝘃𝗲 𝗚𝗹𝗼𝗯𝗮𝗹 𝗔𝗹𝗴𝗮𝗲 𝗠𝗮𝗿𝗸𝗲𝘁

The global algae market is estimated to reach US$ 22.01 Bn by end of 2022. Rise in application of algae in animal feed owing to their nutritional benefits is driving the algae market. Algae are rich in proteins, fatty acids, antioxidants, fiber, and vitamins. Algae also contain minerals such as phosphorous, zinc, iron, and magnesium, which are needed for the bodily functions of most animals including dogs, cows, buffalos, horses, and cats. Algae are also used as nutritional supplements in aquaculture, as they are a rich source of omega-3 fatty acids. They are also used in poultry and pig farming. Studies indicate that 30% to 35% of soy protein can be replaced with a mixture of microalgae. Significant investment is being made in research and development of using algae in human and animal feed. This is expected to drive the algae market.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=14804

𝗦𝘁𝗿𝗶𝗻𝗴𝗲𝗻𝘁 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝘁𝗼 𝗛𝗮𝗺𝗽𝗲𝗿 𝗚𝗹𝗼𝗯𝗮𝗹 𝗔𝗹𝗴𝗮𝗲 𝗠𝗮𝗿𝗸𝗲𝘁

The Novel Food Regulation EU 2018/2283 is applicable for algae production. Novel food is defined as food that has not been consumed to a significant degree by humans in the EU before May 15, 1997 (entry into force of the first Novel Food Regulation). Specific limits for contaminants are applied to the material used in animal and aquaculture feeds. There is a legal basis to set pathogen limits (EU Regulation 183/2005) on Feed Hygiene. The EU Organic Farming Regulation 2018/848 specifies that non-GMO microorganisms are accepted in plant production and indicate environmental provisions for the production of algae. According to EU Fertilising Products Regulation 2019/1009 (FPR), algae and algae-derived materials would therefore be allowed to be used in fertilizing products either in CE-marked products (under the EU Regulation) or in products authorized under national legislation (for national markets).

The algae market is in its nascent phase. Therefore, the payback period is also high. Need for capital investment and operational costs to overcome these issues are considerably high. These are some of the key factors restraining the demand for algae and algae-based products.

𝗩𝗶𝗲𝘄 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗥𝗲𝗽𝗼𝗿𝘁 @ https://www.transparencymarketresearch.com/algae-market.html

𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗶𝗻 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗶𝗻 𝗠𝗮𝗰𝗿𝗼𝗮𝗹𝗴𝗮𝗲 𝗖𝘂𝗹𝘁𝗶𝘃𝗮𝘁𝗶𝗼𝗻 𝗳𝗿𝗼𝗺 𝗛𝗶𝗴𝗵𝗲𝗿-𝗶𝗻𝗰𝗼𝗺𝗲 𝗖𝗼𝘂𝗻𝘁𝗿𝗶𝗲𝘀 𝘁𝗼 𝗕𝗼𝗼𝘀𝘁 𝗠𝗮𝗿𝗸𝗲𝘁

Based on type, the global algae market has been bifurcated into microalgae and macroalgae. The macroalgae segment held major share of 62.8% of the algae market in 2021. It is estimated to maintain its dominant position in the market and expand at a growth rate of more than 10.3% during the forecast period. Macroalgae cultivation is garnering increased interest from higher-income countries as a nature-based solution to economic development, as macroalgae and microalgae help mitigate carbon dioxide emission.

Macroalgae or seaweed are classified into brown seaweed (alginates, laminaria, etc.), red seaweed (red algae), and green seaweed. Macroalgae play a vital role in the aquatic ecosystem by forming the energy base of food for all aquatic organisms. They are used in food and non-food industries such as animal feed, food additives, biostimulant, biopackaging, pharma and nutraceutical, cosmetics, biodegradable plastic, and biofuel. Rise in adoption of algae biofuel can be ascribed to its fast production and high energy content. However, microalgae is cultivated in lesser quantity than macroalgae. Microalgae includes various unicellular algae species such as green microalgae (e.g. Chlorella spp.), cyanobacteria (also known as blue-green algae), and diatoms. In May 2022, the Czech Republic-based Mewery claimed to be the first Europe-based startup to develop cultivated pork on a proprietary microalgae base.

𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗼𝗳 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀 𝗶𝗻 𝗚𝗹𝗼𝗯𝗮𝗹 𝗔𝗹𝗴𝗮𝗲 𝗠𝗮𝗿𝗸𝗲𝘁

The global algae market is fragmented, with a large number of large-scale vendors controlling a majority of the share. Most of the firms are spending significantly on comprehensive research and development activities, primarily to develop environment-friendly fuels to reduce carbon emissions. Expansion of product portfolios and mergers and acquisitions are major strategies adopted by key players. Cyaotech Corporation, Algenol, FEMICO, Algae Health Science, Pond Technologies Holdings Inc., Seagrass Tech Pvt Ltd, Parry Nutraceutical, Firglas, Manta Biofuel, and Earthrise Nutritionals are the prominent entities operating in the market.

𝗔𝗯𝗼𝘂𝘁 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵

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𝗖𝗼𝗻𝘁𝗮𝗰𝘁:

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