Global Algae Products Market Anticipated to Grow at a CAGR of 5.7% during the forecast period from 2019 to 2024 - Axiom MRC

Axiom Market Research & Consulting added a, “Global Algae Products Market Report, By Nutritional Value, Type, Application And Geography – Global Market Share, Trend Analysis And Forecast Upto 2024”.

Global Algae Products market is segmented based on the nutritional value, type, application and geography. Based on the nutritional value, the market is segmented into high value products, medium value products and low value products. On the basis of type, the market is segmented into Eucheuma, Laminaria Japonica, Gracilaria, Undaria Pinnatifida, Porphyra and others. In terms of application, the global algae product market is segmented into nutraceuticals, food and feed supplements, pharmaceuticals, paints and coatings, pollution control and others. Based on geography, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the world region.

Europe accounted as the largest market for algae product, globally. In 2016, the region accounted for around 38% of the overall algae product market’s revenue. Growing demand for algae products from nutraceuticals and pharmaceutical industries in Europe has led to growth of algae products in the market. Furthermore, Asia Pacific is expected to witness the fastest growth during the forecast period. China, India, Japan, Australia, and South Korea are among the major markets for algae product market in this region. Growing health awareness among the people is another factor driving the growth of algae products market in the region.

Key players in the market include Algaetech International, Cellana Inc., DIC LIFETEC Co. Ltd., Cyanotech Corporation, Taau Australia Pty. Ltd., Fuqing King DnarmsaSpirulina Co., Ltd., Alltech Algae, Parry Nutraceuticals, and BlueBioTech International.

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