Global Algae Products Market 2023-2029

Algae are photosynthetic organisms that possess photosynthetic pigments such as chlorophyll. Algae are economically important in a variety of ways. The natural substance can be used as a food source, a fodder, in fish farming, and as a fertilizer. It also plays a key role in alkaline reclaiming, can be used as a soil binding agent, and is used in a variety of commercial products. Certain marine algae are primary sources of the long chain polyunsaturated fatty acids DHA and EPA, found in fish and other seafood products. In addition, many species of microalgae can synthesize beta carotene, which is considered as an orange pigment and vitamin A precursor. The global algae products market size is projected to grow by USD 0.7 billion from 2023 to 2029, registering a CAGR of 4.3 percent, according to the latest market data.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global algae products market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the form, product, source, end user, and region. The global market for algae products can be segmented by form: solid, liquid. Globally, the solid segment made up the largest share of the algae products market. Algae products market is further segmented by product: astaxanthin, beta carotene, chlorella, hydrocolloids, spirulina. The hydrocolloids segment captured the largest share of the market in 2022. Based on source, the algae products market is segmented into: blue-green algae, brown algae, green algae, red algae. According to the research, the brown algae segment had the largest share in the global algae products market. On the basis of end user, the algae products market also can be divided into: animal feed, food and beverages, personal care, pharmaceuticals and nutraceuticals, others. The food and beverages segment held the largest revenue share in 2022. Algae products market by region is categorized into: Asia Pacific, Europe, North America, Rest of the World (RoW).

The food and beverages market is further segmented into bakery and confectionery, beverages, meat substitutes, others. The bakery and confectionery segment was the largest contributor to the global algae products market in 2022.

Market Segmentation
By form: solid, liquid
By product: astaxanthin, beta carotene, chlorella, hydrocolloids, spirulina
By source: blue-green algae, brown algae, green algae, red algae
By end user: animal feed, food and beverages, personal care, pharmaceuticals and nutraceuticals, others
By region: Asia Pacific, Europe, North America, Rest of the World (RoW)



The global algae products market report offers detailed information on several market vendors, including Algae Systems, LLC, AlgaTechnologies Ltd., Algenol, LLC, Archer Daniels Midland Company, BASF SE, Cargill Incorporated, Cellana, Inc., Corbion NV, Cyanotech Corporation, DIC LIFETEC Co., Ltd. (Earthrise Nutritionals, LLC), Euglena Co., Ltd., J.M. Huber Corporation, Koninklijke DSM N.V., Progress Biotech B.V., TBK Manufacturing Corporation, VG Energy, Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
• To analyze and forecast the market size of the global algae products market.
• To classify and forecast the global algae products market based on form, product, source, end user, region.
• To identify drivers and challenges for the global algae products market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global algae products market.
• To identify and analyze the profile of leading players operating in the global algae products market.

Why Choose This Report
• Gain a reliable outlook of the global algae products market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.