Algae Products Market Growth Accelerates: Strategic Forecast Predicts $21.91 Billion by 2029

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What Will the Algae Products Industry Market Size Be by 2025?
In recent times, the algae products market has witnessed robust growth. Its size is projected to increase from $14.03 billion in 2024 to $15.12 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.8%. This growth in the historic period can be attributed to factors such as concerns for sustainability, nutritional advantages, alternative sources of protein, use in cosmetics and personal care, and environmental regulations.

What's the Long-Term Growth Forecast for the Algae Products Market Size Through 2029?
The market size for algae products is predicted to witness significant expansion in the upcoming years. It is projected to increase to $21.91 billion in 2029 with a compound annual growth rate (CAGR) of 9.7%. This growth during the forecasted period is associated with climate change mitigation, application in aquaculture and animal feed, the rise of plant-based foods, the use of biofuels and renewable energy, as well as circular economy initiatives. The major trends to look out for during this period involve a surge in plant-based food, the adoption of sustainable protein sources, the inclusion of marine extracts in cosmetics, applications for carbon capture, and progressive advancements in biotechnology.

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What Are the Key Growth Drivers Fueling the Algae Products Market Expansion?
The uptick in the need for nutritious food items is projected to stimulate expansions in the algae products market. Nutritious food items are defined as those packed with nutrients that contribute to overall health and energy preservation. Algae products, rich in valuable components like carbohydrates, polyunsaturated fatty acids, essential minerals, and vitamins, are typically incorporated into such nutrient-dense foods. To illustrate, in March 2022, the Good Food Institute (GFI) - a non-profit organization in the US, along with the Plant Based Foods Association (PBFA) - another US-based food association, indicated that due to growing interest in healthful substitutes, 27% of individuals are opting to cut down on meat consumption in favor of plant-based products. As such, the escalating demand for healthful food items is compelling the algae products market expansion.

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What Are the Key Trends Driving Algae Products Market Growth?
The exploration of alternative protein sources, particularly microalgae, is an emerging and influential trend within the algae products market. The creation of these protein alternatives is vital for fostering a balanced, resilient food system. For example, Unilever, a consumer goods business in the UK, collaborated with Algenuity, a UK firm specializing in algae products, to create innovative microalgae-based products for Unilever's plant-based range. Algenuity will collaborate with Unilever's Foods and Refreshment (F&R) division's R&D team to investigate the application of microalgae in various foods.

How Is the Algae Products Market Segmented?
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 Companies Are Leading the Charge in Algae Products Market Innovation?
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

Which Regions Are Leading the Global Algae Products Market in Revenue?
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.

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