Algae Products Market to Attain US$ 9.1 Billion at a CAGR of 4.8% by 2032

The global algae products market is currently valued at US$ 4.96 billion and is anticipated to expand at a CAGR of 4.8% to reach US$ 9.1 billion by 2032-end.

Algae are cultivated using both agriculture and aquaculture methods and are incorporated in a variety of end products such as ice cream, cakes, anti-obesity and anti-diabetic agents, toothpaste, aquatic feed ingredients, and moisturisers.

For more insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=845

Growth Drivers of the Algae Products Market:

The algae products market has witnessed significant growth, driven by several factors:

A. Sustainability and Environmental Concerns: With growing environmental awareness, industries are seeking eco-friendly alternatives, and algae products offer a renewable and carbon-neutral solution.

B. Nutritional Benefits: Algae are rich in essential nutrients, including proteins, omega-3 fatty acids, vitamins, and minerals, making them valuable ingredients in the food and nutraceutical industries.

C. Versatility in Applications: Algae products find
applications in various industries, including food, pharmaceuticals, cosmetics, agriculture, biofuels, and wastewater treatment.

D. Technological Advancements: Advancements in cultivation and extraction technologies have increased algae product yields and improved cost-effectiveness.

Competitive landscape:

With a significant number of large-scale suppliers commanding a majority of the market share, the global algae products market is fragmented. A majority of businesses are investing heavily in intensive R&D, especially to create environment-friendly products. Key market players are resorting to acquisitions and product portfolio expansion as primary growth tactics.

• Yemoja introduced EPS-Revive, an external polysaccharide sulphate (EPS) topical beauty ingredient produced from a red algae species, as part of a new line of algae-based skincare products, in April 2021. Protein-rich, vitamin-rich, and antioxidant-rich red algae help the skin retain moisture and restore its natural hydration.

• In March 2022- Ingredient company CP Kelco is partnering with food tech startup Shiru to develop and scale up next-generation plant proteins as more sustainable solutions for several common ingredients.

• In July 2021-Solabia-Algatech Nutrition is launching BioGlena for immune support - a 100 percent natural beta-glucan ingredient from whole Euglena gracilis algae. The ingredient boasts a high beta-glucan content of over 55 percent, in addition to complete proteins, essential vitamins, minerals and fatty acids.

Key Segments Covered in Algae Products Industry Research:

• By Product :
• Hydrocolloids
• Carotenoids & Pigments
• Lutein
• Beta Carotene
• Lycopene
• Astaxanthin
• Fucoxanthin
• Others
• Antioxidants
• Lipids
• Proteins
• Others

• By Form :
• Powder
• Liquid

• By Application :
• Food & Beverages
• Dietary Supplements & Pharmaceuticals
• Animal & Aquaculture Feed
• Cosmetics & Personal Care
• Others

• By Sale Channel :
• Direct Sales of
• Indirect Sales of
• Store-based Retailing
• Hypers/Supers
• Pharmaceutical/Drug Stores
• Specialty Stores
• Others

• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

For in-depth competitive analysis, Buy Now:
https://www.factmr.com/checkout/845

How will be insights and market estimations provided in the Fact.MR report on the Demand of Algae Products make a difference?

• The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions

• The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period

• The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets

• Provides scrutiny of the industry trends that have shaped recent government policies
• Provides an account of major breakthroughs in all segments that might change the course of the market considerably

• Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Algae Products Market

• Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future

• Evaluates the role of various stages of funding on new growth avenues in key regional markets

Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

About US:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year.

This release was published on openPR.