Algae Products Market Exploring Innovations and Sustainability Trends

The global algae product sales reached approximately USD 5,531.2 million at the end of 2024. Forecasts suggest the market will achieve a 5.8% compound annual growth rate (CAGR) and exceed USD 9,720.2 million in value by 2034.

Products derived from algae are becoming popular because of their popularity as sustainable and environmentally friendly choices. Algae can be grown in non-potable water which makes it less resource intensive in terms of freshwater and arable land. This makes algae very attractive to the ecofriendly business sector or consumers. Apart from the fact that algae are a nutrient-dense food source, this makes it more common in the health and wellness industry. Companies like Spirulina World and Algenol have moved one step ahead in introducing spirulina-containing supplements high in proteins, vitamins, and antioxidants.

Algae products encompass a diverse range of applications, making them a valuable asset across various industries. Derived from these aquatic organisms, algae products offer unique functional properties:

Nutraceuticals and Pharmaceuticals: Algae are rich in omega-3 fatty acids, protein, and antioxidants, making them ideal for nutraceuticals and pharmaceuticals. They are used to create dietary supplements, anti-aging products, and medications.

Food and Beverages: Algae act as thickening agents, emulsifiers, and natural coloring agents in food and beverages. They are also a sustainable source of protein and healthy fats, catering to the growing demand for functional foods.
Cosmetics and Personal Care: Algae's anti-aging properties and ability to improve skin texture make them popular ingredients in cosmetics and personal care products. They are used in moisturizers, serums, and anti-aging creams.

Aquaculture and Animal Feed: Algae provide essential nutrients for fish and livestock, promoting growth and overall health. This is particularly relevant in the expanding aquaculture industry.
Biofuels: Algae can be a sustainable source of biofuel, offering a cleaner alternative to fossil fuels. Research and development in this area are ongoing.

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Demand on the Rise: Consumers Seek Health and Sustainability

Several key trends are fueling the burgeoning demand for algae products, attracting B2B investor interest:

Health and Wellness Awareness: Consumers are increasingly prioritizing healthy and functional ingredients in their food and personal care products, driving demand for natural alternatives like algae.

Growing Pharmaceutical Industry: The global pharmaceutical industry's expansion, particularly in developing economies, creates a rising demand for algae as a source of nutraceutical ingredients and pharmaceutical excipients.
Sustainable Food Trend: The growing interest in sustainable and eco-friendly food production methods is propelling the use of algae as a protein source and functional ingredient.

Functional Food Innovation: Food manufacturers are constantly exploring new applications for algae, incorporating them into functional foods with added health benefits.

Focus on Natural Ingredients: Consumers are seeking natural alternatives in cosmetics and personal care products, leading to increased adoption of algae-based ingredients.

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Competition Outlook
The market of algae ingredient products is cut-throat in its nature with a host of organizations fighting to claim their fair amount of the market share through innovation and collaboration.

For example, firms such as Corbion and DSM are making huge investments in research and development to produce distinctive high-valued products that may fit well within the consumer's needs. Corbion is engaged in the production of algae-derived omega-3 fatty acids that act as a replacement for fish oil but in a more environmentally friendly manner.

However, for manufacturers to counter this trend, they are more than willing to form, alliances and joint ventures. AgaeEnergy has formed a joint venture with Yokogawa Electric Corporation to improve its production and distribution capabilities. The companies are also broadening the field within which their products operate, for instance, biofuels and animal feeds among others.

For instance

In 2024, an Israeli startup, named Brevel, opened a new commercial facility with a capacity of a hundred tons, to produce highly functional and neutral-tasting algal protein. It is said to compete with soy and pea protein. The site will manufacture a white powdered concentrate of 60 to 70% microalgal protein, along with multiple high-value products.

Leading Brands
Algae Systems LLC
euglena Co.
Cyanotech Corporation
Cargill
DSM
Kerry
Cargill
Corbion
BIOPROCESS ALGAE, LLC.
BASF
Others

Segmentation Analysis in the Algae Products Market
By Form:
Solid
Liquid

By Source:
Brown Algae
Blue-green Algae
Red Algae
Green Algae

By Application:
Food & Beverage
Nutraceuticals & Dietary Supplements
Personal Care
Pharmaceuticals
Animal Feed
Other Applications

By Region:
North America
Latin America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)

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This release was published on openPR.