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Algae Market Outlook 2022- Explains COVID-19 Impact, Share And Future Growth 2028

Algae Market Outlook 2022- Explains COVID-19 Impact, Share

Market Overview:
Global Algae Market was valued at USD 2.98 billion in 2021 and is expected to reach USD 3.76 billion by the year 2028, at a CAGR of 3.36%.

Algae are defined as a class of aquatic, photosynthetic, nucleus-bearing organisms which contains lack the true roots, stems, leaves, and specialized multicellular reproductive systems of plants. Algae rapidly reproduce and they simply require sunlight or another form of energy such as sugar. There are tens of thousands of algae species around the world. Using enhanced CO2, autotrophic microalgae are grown on land in sizable ponds or in closed "photobioreactors." Large fermenters are used to cultivate heterotrophic microalgae using starch or sugar. Seawater is used to grow seaweed (macroalgae). There are many industries that use algae. They are utilized in fertilizer products, organic farming, animal and aquaculture feed, and human meals.

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Market Dynamics:
The high demand from the pharmaceutical industries for Algae products such as carrageenan is used as novel extrusion aids in the manufacture of pellet polymers, matrices for oral sustained-release tablets, and stabilizers for micro- or nanoparticle systems. Due to the unique properties of carrageenan, such as gelling and high negative charge, it is used as a gelling agent and viscosity improver for controlled release and longer retention of drugs. In addition, sodium alginate obtained from brown algae is used in medicine as a gel. It is also used in skin care products which support the growth of the market of Algae.

Algae extraction and production require expensive equipment and processes. Governments and businesses are expected to spend a lot of money on research and development to improve manufacturing processes and reduce costs, which will present a huge opportunity for the industry. For example, production costs can be reduced by using algal strains that do not require long retention in photobioreactors.

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Segmentation Analysis of Algae Market

By Type, Open pond systems are the most common system of algae cultivation, already used commercially in the United States to produce nutritional products and treat wastewater. Open pond systems use shallow (typically one-foot deep) ponds, from about one acre to several acres in size, in which the algae are exposed to natural solar radiation (sunlight) which they convert into biomass.

By Application, Docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) are essential for humans, as well as for marine fish species. Fish oil is currently the main source of these fatty acids. Docosahexaenoic acid (DHA) defines Omega-3 and other PUFAs for pharmaceutical applications. It has extensive experience handling and purifying omega-3 from various biomass sources including fish oil, algae, etc.

By Type
• Open Ponds Cultivation
• Raceway Ponds Cultivation
• Closed Photo bioreactor Cultivation
• Closed Fermenter Systems Cultivation

By Application
• DHA Production (Protein Sales)
• DHA Production (Pharmaceutical Applications)
• Bioplastics
• Others

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Regional Analysis of Algae Market
North America is expected to dominate the algae products market During the forecast period, owing to the growing nutraceutical market in the United States, which is attributed to a variety of factors including an aging population, increased healthcare awareness, a higher incidence of allergies, and intolerance, and rising demand from emerging economies. Furthermore, rising health concerns and awareness, as well as changing lifestyles, are having a significant impact on all sectors of the food, cosmetics, and personal care industries, resulting in increased demand for functional food and beverages, as well as personal care products enriched with functional ingredients and active constituents, which is propelling the North American algae products market forward.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered In Algae Market Are
• Algae Tec
• Pond Biofuels Incorporated
• LiveFuels
• Algae Systems
• Diversified Energy Corporation
• Algenol
• Algix
• DSM Nutritional Products
• Dao Energy
• Phycal
• Kent BioEnergy Corporation and other major players.

Recent Industry Developments In Algae Market

• January 2021, Corbion to Expand Lactic Acid Capacity in North America. It will increase its capacity for producing lactic acid in North America by around 40% to meet the growing demand for natural ingredients in multiple industries.
• October 2020, Cyanotech Corporation Launches BioAstin Cyanotech Corporation, a world leader in microalgae-based, high-value nutrition and health products, announces its launch of BioAstin Hawaiian Astaxanthin in a new delivery form, water dispersible powder, available in both 1% and 2% concentrations.
• May 2020, DSM boosts maternal and infant nutrition portfolio with new plant-based high potency DHA oil.

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Table Of Content
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Application
Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing
Chapter 5: Algae Market by Type
 5.1 Algae Market Overview Snapshot and Growth Engine
 5.2 Algae Market Overview
 5.3 Open Ponds Cultivation
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Open Ponds Cultivation: Grographic Segmentation
 5.4 Raceway Ponds Cultivation
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Raceway Ponds Cultivation: Grographic Segmentation
 5.5 Closed Photo bioreactor Cultivation
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Closed Photo bioreactor Cultivation: Grographic Segmentation
 5.6 Closed Fermenter Systems Cultivation
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size (2016-2028F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Closed Fermenter Systems Cultivation: Grographic Segmentation

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Introspective Market Research ( is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.

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