“Meticulous Research” in its latest publication states that, the “Algae Products Market is projected to reach USD 3,318.1 million by 2022 growing at a CAGR of 6.7% during the forecast period of 2017 to 2022.”
Algae Products Market by Value (Medium Value, High Value, And Low Value), Products (Hydrocolloids, Carotenoids, Omega-3 PUFA, Spirulina, Chlorella, And Others), Application (Food and Feed, Nutraceutical, Cosmetics, Chemicals, And Others)
The Global Algae Products Market is driven by factors such as growing demand for algae products from the pharmaceutical and nutraceuticals industries, increasing utilization of pigments from microalgae due to strict regulations regarding the use of synthetic colors and flavors, and growing consumer preference to algae sourced products. Moreover, the emergence of new application areas, growing use of microalgae in aquaculture, and increasing use of algae in biofuel production provides significant opportunities for the various stakeholders in this market.
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# Scope of the report -
Market by Value -
• Medium value
• High value
• Low value
Market by Product -
• Omega-3 PUFA
Market by Application -
• Food and Feed
Geographically, Asia Pacific region is expected to witness a significant growth during the forecast period due to growing health food industry, pharmaceutical sector, demand of personal care products; high investments; and various government initiatives for microalgae production in the region.
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Geographically, the global algae products market is segmented into North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia Pacific (China, India, Japan, and RoAPAC), Latin America, and Middle East & Africa. North America commanded the largest share in the global algae products market in 2016, followed by Europe, and Asia-Pacific. The large share of this market is mainly attributed to growing U.S nutraceutical market which is primarily driven by aging population, increasing healthcare awareness, and higher incidences of allergies and intolerance.
The key players operating in the global algae products market are DIC Corporation (Japan), Cellana Inc. (U.S.), Taiwan Chlorella Manufacturing Company (China), Algaetech International Sdn Bhd (Malaysia), Cyanotech Corporation (U.S.), BlueBioTech Int. GmbH (Germany), Algatechologies ltd. (Israel), Pond Technologies Inc. (Canada), E.I.D. - Parry (India) Limited (India), Tianjin Norland Biotech Co., Ltd., (China), AlgaeCan Biotech Ltd. (Canada), Corbion NV (The Netherlands), Qponics Limited (Australia), Royal DSM (The Netherlands), Heliae Development, LLC (U.S.), and SUN CHLORELLA CORPORATION (Japan).
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