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Growing Demand For Healthy Food Drive The Algae Products Market: An Emerging Driver Transforming The Algae Products Market Landscape
Algae Products
What Is the Projected Growth of the Algae Products Market?
There has been significant growth in the algae products market size in recent years. This market is set to expand from $14.03 billion in 2024 to $15.12 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.8%. Factors such as sustainability issues, health benefits, alternative protein sources, the use in cosmetics and personal care, and environmental laws have contributed to this growth during the historic period.
In the coming years, a robust expansion is likely in the algae products market. The market is predicted to surge to $21.91 billion by 2029, with a compound annual growth rate (CAGR) of 9.7%. This projected growth within the given period can be linked to efforts to mitigate climate change, aquaculture and animal feed, plant-based edibles, biofuels and renewable energy, as well as circular economy initiatives. Key trends for the forecasted timeline encompass the revolution of plant-based foods, sustainable protein sources, the use of marine ingredients in cosmetics, applications of carbon sequestration, and advancements in biotechnology.
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What Are the Different Algae Products Market Segments?
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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What Are the Primary Drivers Shaping the Algae Products Market?
The surge in demand for nutritious food items is set to boost the algae products market's expansion. Nutritious food items are those enriched with nutrients that enhance health and help in energy conservation. Algae products are beneficial as they are rich in several valuable components such as carbohydrates, polyunsaturated fatty acids, vital minerals and vitamins, which are widely used in nutritious food items. For example, in March 2022, the Good Food Institute (GFI), a non-profit organization based in the US, and the Plant Based Foods Association (PBFA), a US food association, reported that due to an upsurge of interest in healthier alternatives, 27% of individuals opted to reduce their meat consumption in favor of plant-based foods. Thus, the rise in demand for nutritious food items propels the algae products market's growth.
Which Companies Are Leading in the Algae Products Market?
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
What Are the Major Trends Shaping the Algae Products Market?
Alternative protein sources like microalgae are becoming increasingly popular in the algae products market, marking a significant trend. This importance is highlighted in the quest for a more equitably distributed and resilient food system. An example of this trend is the UK-based consumer goods company Unilever partnering with Algenuity, another UK based company operating in the algae products market, to create innovative microalgae offerings for Unilever's plant-based range. Algenuity will collaborate with the Research and Development team in Unilever's Food and Refreshment division to explore various microalgae-based foods.
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What Are the Top Revenue-Generating Geographies in 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Algae Products Market?
2. What is the CAGR expected in the Algae Products Market?
3. What Are the Key Innovations Transforming the Algae Products Industry?
4. Which Region Is Leading the Algae Products Market?
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