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Algae Products Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Algae Products Market
The algae products market is set to expand in response to the increasing consumption of healthy food items. Nutritious foodstuffs pack a variety of wellness-boosting nutrients and aid in preserving energy. Algae products, rich in beneficial elements like carbohydrates, polyunsaturated fatty acids, vital minerals, and vitamins, are often included in nutritious food preparation. For instance, data from the Good Food Institute (GFI) and the Plant-Based Foods Association (PBFA), two US-based organizations, showed that the popularity of healthier substitutes resulted in 27 % of individuals opting to reduce meat consumption in favor of plant-based food by March 2022. Consequently, the rising demand for nutritious food items bolsters the expansion of the algae products market.
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What Is the projected market size and growth rate for the algae products market?
There has been a robust growth in the size of the algae products market in the recent past. The market is projected to escalate from $14.03 billion in 2024 to $15.12 billion in 2025, expanding at a compound annual growth rate (CAGR) of 7.8%. The historical growth can be mainly attributed to aspects such as growing sustainability concerns, recognition of nutritional benefits, exploration of alternative protein sources, application in cosmetics and personal care, as well as environmental regulations.
The market size for algae products is projected to witness substantial expansion in the coming years, reaching a value of $21.91 billion in 2029, with a compound annual growth rate (CAGR) of 9.7%. The anticipated growth during this period is linked to factors such as efforts to tackle climate change, the use of algae in aquaculture and animal feed, plant-based food developments, the production of biofuels and renewable energy, and initiatives for a circular economy. Key trends expected within this forecast period encompass the revolution in plant-based food, the use of sustainable protein sources, the inclusion of marine elements in cosmetic products, applications for carbon storage, and the progression of biotechnology.
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What new trends are reshaping the algae products market and its opportunities?
A prominent trend rising in the algae products market is the exploration of alternative protein sources like microalgae. The creation of these alternate protein avenues is essential in facilitating a more robust and fair food ecosystem. As an example of this, Unilever, a consumer goods company from the UK, has entered into a partnership with Algenuity, a UK-based firm specializing in algae products. They aim to create pioneering microalgae products for Unilever's vegan range. Algenuity will collaborate with the Research and Development team from Unilever's Foods and Refreshment (F&R) division to examine the various possibilities of incorporating microalgae in different food items.
What major market segments define the scope and growth of the algae products market?
The algae products market covered in this report is segmented -
1) By Type: Lipids, Carrageenan, Carotenoids, Alginate, Algal Protein
2) By Form: Liquid, Solid
3) By Source: Blue-Green Algae, Brown Algae, Green Algae, Red Algae
4) By Distribution Channel: Online, Offline
5) By Application: Food and Beverage, Nutraceutical and Diet Supplement, Animal Feed, Personal Care, Pharmaceutical, Other Applications
Subsegments:
1) By Lipids: Omega-3 Fatty Acids (EPA, DHA), Phospholipids, Triglycerides
2) By Carrageenan: Kappa Carrageenan, Iota Carrageenan, Lambda Carrageenan
3) By Carotenoids: Beta-Carotene, Astaxanthin, Lutein
4) By Alginate: Sodium Alginate, Calcium Alginate, Potassium Alginate
5) By Algal Protein: Spirulina Protein, Chlorella Protein, Other Microalgae Proteins
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Which region dominates the algae products market?
North America was the largest region in the algae products market in 2024. The regions covered in the algae products market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the algae products industry growth?
Major companies operating in the algae products market include BASF SE, Cargill Inc., E. I. du Pont de Nemours and Company, DSM Nutritional Products AG, East India Distilleries & Parry Limited, Cellana Inc., BlueBioTech International GmbH, Corbion NV, Earthrise Nutritionals LLC, Cyanotech Corporation, AlgaeCan Biotech Ltd., Bioprocess Algae LLC, Algenol Biofuels Inc., Euglena Co. Ltd., Kerry Group plc, DIC Corporation, CP Kelco ApS, Algae Systems LLC, Acadian Seaplants Limited, Wild Irish Seaweeds Ltd., Beijing Leili Marine Bioindustry Inc., Archer Daniels Midland Company, ACCEL Carrageenan Corporation, Koninklijke DSM N.V., International Flavors & Fragrances Inc., Algae Bio-Tech India (P) Ltd., Algaen Corp, Algaeventure Systems (AVS), Algaetech International, Algarithm Ingredients Inc., Algix LLC
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What Is Covered In The Algae Products Global Market Report?
•Market Size Forecast: Examine the algae products market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the algae products market for a structured understanding.
•Key Players Overview: Analyze major players in the algae products market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the algae products market.
•Segment Contributions: Evaluate how different segments drive overall growth in the algae products market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the algae products market.
•Industry Challenges: Identify potential risks and obstacles affecting the algae products market.
•Competitive Landscape: Review strategic developments in the algae products market, including expansions, agreements, and new product launches.
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The global Algae products market was valued at USD 2,276.0 Million in 2020, and is projected to reach USD 4286.8 Million by 2031, growing at a CAGR of 4.88% from 2022 to 2031.
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