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Industry Overview of Algae Market from 2022 to 2031

๐€๐ฅ๐ ๐š๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฎ๐ญ๐ฅ๐จ๐จ๐ค ๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ

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

๐—š๐—ฒ๐˜ ๐—ฃ๐——๐—™ ๐˜€๐—ฎ๐—บ๐—ฝ๐—น๐—ฒ ๐—ณ๐—ผ๐—ฟ ๐—œ๐—ป๐—ฑ๐˜‚๐˜€๐˜๐—ฟ๐—ถ๐—ฎ๐—น ๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜๐˜€ ๐—ฎ๐—ป๐—ฑ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€ ๐—œ๐—ป๐˜๐—ฒ๐—น๐—น๐—ถ๐—ด๐—ฒ๐—ป๐—ฐ๐—ฒ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=14804

๐—ข๐˜ƒ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฒ๐˜„ ๐—ผ๐—ณ ๐—š๐—น๐—ผ๐—ฏ๐—ฎ๐—น ๐—”๐—น๐—ด๐—ฎ๐—ฒ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜

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.

๐—˜๐—ป๐—พ๐˜‚๐—ถ๐—ฟ๐˜† ๐—•๐—ฒ๐—ณ๐—ผ๐—ฟ๐—ฒ ๐—•๐˜‚๐˜†๐—ถ๐—ป๐—ด @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=14804

๐—ก๐˜‚๐˜๐—ฟ๐—ถ๐˜๐—ถ๐—ผ๐—ป๐—ฎ๐—น ๐—•๐—ฒ๐—ป๐—ฒ๐—ณ๐—ถ๐˜๐˜€ ๐—ผ๐—ณ ๐—”๐—น๐—ด๐—ฎ๐—ฒ ๐—ถ๐—ป ๐—Ÿ๐—ถ๐˜ƒ๐—ฒ๐˜€๐˜๐—ผ๐—ฐ๐—ธ ๐—™๐—ฒ๐—ฒ๐—ฑ ๐˜๐—ผ ๐——๐—ฟ๐—ถ๐˜ƒ๐—ฒ ๐—š๐—น๐—ผ๐—ฏ๐—ฎ๐—น ๐—”๐—น๐—ด๐—ฎ๐—ฒ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜

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.

๐—ฅ๐—ฒ๐—พ๐˜‚๐—ฒ๐˜€๐˜ ๐—–๐˜‚๐˜€๐˜๐—ผ๐—บ๐—ถ๐˜‡๐—ฎ๐˜๐—ถ๐—ผ๐—ป @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=14804

๐—ฆ๐˜๐—ฟ๐—ถ๐—ป๐—ด๐—ฒ๐—ป๐˜ ๐—š๐—ผ๐˜ƒ๐—ฒ๐—ฟ๐—ป๐—บ๐—ฒ๐—ป๐˜ ๐—ฅ๐—ฒ๐—ด๐˜‚๐—น๐—ฎ๐˜๐—ถ๐—ผ๐—ป๐˜€ ๐˜๐—ผ ๐—›๐—ฎ๐—บ๐—ฝ๐—ฒ๐—ฟ ๐—š๐—น๐—ผ๐—ฏ๐—ฎ๐—น ๐—”๐—น๐—ด๐—ฎ๐—ฒ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜

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.

๐—ฉ๐—ถ๐—ฒ๐˜„ ๐—–๐—ผ๐—บ๐—ฝ๐—น๐—ฒ๐˜๐—ฒ ๐—ฅ๐—ฒ๐—ฝ๐—ผ๐—ฟ๐˜ @ https://www.transparencymarketresearch.com/algae-market.html

๐—œ๐—ป๐—ฐ๐—ฟ๐—ฒ๐—ฎ๐˜€๐—ฒ ๐—ถ๐—ป ๐—œ๐—ป๐˜๐—ฒ๐—ฟ๐—ฒ๐˜€๐˜ ๐—ถ๐—ป ๐— ๐—ฎ๐—ฐ๐—ฟ๐—ผ๐—ฎ๐—น๐—ด๐—ฎ๐—ฒ ๐—–๐˜‚๐—น๐˜๐—ถ๐˜ƒ๐—ฎ๐˜๐—ถ๐—ผ๐—ป ๐—ณ๐—ฟ๐—ผ๐—บ ๐—›๐—ถ๐—ด๐—ต๐—ฒ๐—ฟ-๐—ถ๐—ป๐—ฐ๐—ผ๐—บ๐—ฒ ๐—–๐—ผ๐˜‚๐—ป๐˜๐—ฟ๐—ถ๐—ฒ๐˜€ ๐˜๐—ผ ๐—•๐—ผ๐—ผ๐˜€๐˜ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜

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.

๐—”๐—ป๐—ฎ๐—น๐˜†๐˜€๐—ถ๐˜€ ๐—ผ๐—ณ ๐—ž๐—ฒ๐˜† ๐—ฃ๐—น๐—ฎ๐˜†๐—ฒ๐—ฟ๐˜€ ๐—ถ๐—ป ๐—š๐—น๐—ผ๐—ฏ๐—ฎ๐—น ๐—”๐—น๐—ด๐—ฎ๐—ฒ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜

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.

๐—”๐—ฏ๐—ผ๐˜‚๐˜ ๐—ง๐—ฟ๐—ฎ๐—ป๐˜€๐—ฝ๐—ฎ๐—ฟ๐—ฒ๐—ป๐—ฐ๐˜† ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ฅ๐—ฒ๐˜€๐—ฒ๐—ฎ๐—ฟ๐—ฐ๐—ต

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

๐—–๐—ผ๐—ป๐˜๐—ฎ๐—ฐ๐˜:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
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Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
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