The global algae products market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
Algae products are essential sources of vitamins, minerals, and fatty acids. They have antihypertensive, anticoagulant, antioxidant, antiproliferative, and immunostimulatory properties. Their consumption assists in increasing dopamine, preventing diseases, promoting healthy skin, and healing wounds. As a result, they are widely utilized in the preparation of dietary supplements. Besides this, they are also used as stabilizers, thickeners, emulsifiers, main ingredients, and flavoring agents in the production of various food products and beverages across the globe.
Algae Products Market Trends:
Due to the growing prevalence of chronic diseases, rising global population and changing lifestyles of individuals, there is a significant rise in the consumption of healthy food products and dietary supplements around the world. This represents one of the key factors strengthening the growth of the market. Apart from this, algae products are extensively utilized in sequestering and removing or transforming pollutants, including nutrients, heavy metals, and xenobiotics from wastewater. Moreover, these products aid in increasing the elasticity and suppleness of the skin and stimulating the renewal of damaged skin cells. Apart from this, as they also aid in detoxifying, cleansing, and toning the skin, they are widely employed in the beauty and personal care sector across the globe. Furthermore, as green algae products are abundant, resilient, and cost-effective, they find extensive application in biologic drugs around the world. They are used in the manufacturing of medicines, vitamins, vaccines, nutraceuticals, and other nutrients for the treatment of diabetes, multiple sclerosis, and cancer. This, along with the rising adoption of algae products to produce livestock for aquaculture varieties, such as fish for cultivation, is acting as another factor impelling the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global algae products market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, source, form, distribution channel and application.
Breakup by Type:
- Algal Protein
Breakup by Source:
- Brown Algae
- Blue-Green Algae
- Red Algae
- Green Algae
Breakup by Form:
Breakup by Distribution Channel:
Breakup by Application:
- Food and Beverages
- Nutraceuticals and Dietary Supplements
- Personal Care
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ACCEL Carrageenan Corporation, Algatechnologies Ltd, Algenol, Archer-Daniels-Midland Company, BASF SE, Caldic B.V., Cargill Incorporated, Cellana Inc, Corbion N.V., Cyanotech Corporation, DuPont de Nemours Inc, Koninklijke DSM N.V. and TBK Manufacturing Corporation.
|Base Year of the Analysis
||Type, Source, Form, Distribution Channel, Application, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ACCEL Carrageenan Corporation, Algatechnologies Ltd, Algenol, Archer-Daniels-Midland Company, BASF SE, Caldic B.V., Cargill Incorporated, Cellana Inc, Corbion N.V., Cyanotech Corporation, DuPont de Nemours Inc, Koninklijke DSM N.V. and TBK Manufacturing Corporation
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Key Questions Answered in This Report:
- How has the global algae products market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global algae products market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the source?
- What is the breakup of the market based on the form?
- What is the breakup of the market based on the distribution channel?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global algae products market and who are the key players?
- What is the degree of competition in the industry?