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Algae Products Market Expected to Boost USD 5.98 Billion at a CAGR of 5.5% 2026 | Reports and Data

Reports And Data

Reports And Data

Algae Products Market Trends – Product launches and research for advanced products are key factors contributing during the forecast period. 

The global algae products market was valued at USD 3.89 Billion in 2018 and is expected to reach USD 5.98 billion by the year 2026, at a CAGR of 5.5%.”
— Reports and Data

NEW YORK CITY, NEW YORK, UNITED STATES, May 23, 2023 / -- According to the current analysis of Reports and Data, the global algae products market was valued at USD 3.89 Billion in 2018 and is expected to reach USD 5.98 billion by the year 2026, at a CAGR of 5.5%. These are plants that range from microscopic to large seaweeds. They are fastest growing plant organisms which are converting sunlight, CO2, and nutrients into organic matter that can replace many commonly used oils such as fish, palm. They are having the characteristics such as consumption of carbon-dioxide, storage of essential nutrients, minerals, and vitamins in microorganisms. These form organic food molecules from carbon dioxide and water through the development of photosynthesis, in which they acquire energy from sunlight. Similar to land plants, they are at the presence of the food chain, and, agreed that plants are virtually absent from the oceans, the existence of nearly all marine life—including whales, seals, fishes, turtles, shrimps, lobsters, clams, octopuses, sea stars, and worms—ultimately depends upon algae.

Increasing prevalence of various life-threatening diseases is one of the main reasons for changing consumer's preference for the naturally derived item. The demand for cosmetic applications such as in skin care items including, anti-aging, regenerate care stuffs, emollient and as an anti-irritant in peelers is further adding up to the growing industry during the forecast period. Application in fertilizer industry to improve the water binding capacity and mineral composition of the soil is another factor creating industry growth opportunity for shortly. Some of the factors such as rising demand from the nutraceuticals and pharmaceutical industries, increase in global population and increasing usage of microalgae pigments are driving the industry. The significant growth hampering factor for the industry is due to the impact of bad weather on its cultivation.

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Further key findings from the report suggest

These products are used in various applications such as F&B, nutraceuticals & dietary supplements, personal care, chemical, feed, and pharmaceuticals.
Increasing use of these products in healthy food items to produce natural nutrient supplements, thereby emerging as a promising substitute for animal-based nutrition.
The occurrence of key Phyto-ingredients like beta-carotene, carotenoids, omega three fatty acids, and astaxanthin in products with health benefits is experiencing a high demand from food supplement manufacturers, pharmaceutical, and nutraceuticals industry.
Growing application of these products in the pharmaceutical sector for manufacturing antimicrobials, antivirals and anti-bacterial medicines, neuroprotective products, human therapeutic proteins, drugs for cancer treatment is another key factor expected to fuel the market during the forecast period.
North America is anticipated to grow due to growing healthcare awareness and increasing incidences of health allergies. Moreover, Asia Pacific is also expected to grow during the forecast period owing to increasing demand from food & feed supplements and nutraceuticals industry.
Asia-Pacific regional segment of these product market is expected to remain highest growing segment during 2019-2026, at a CAGR of 6.2%; owing it to the untapped market potential offered by these products in developing nations such as China & India.
In 2016, DDW Inc. launched a product in the form of made from Spirulina with light stability improved by up to 40%. Demand for these products for cosmetic application is further adding up to the growing market over the forecast period.
The Pharmaceuticals segment is expected to have a 20% market share during 2018-2026. These products are used in many pharma industries and end-use industries for production.
Consumption of algae-based drug products, such as sun chlorella, microalgae, spirulina caused gastrointestinal, abdominal, and nausea health problem is expected to hamper the market growth during the forecast period.

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Type (Revenue, USD Million; 2016–2026)

Beta Carotene
Hydrocolloids (Agar, Alginates, and Carrageenans)

Application (Revenue, USD Million; 2016–2026)

Food & Beverages
Nutraceuticals & Dietary Supplements
Personal Care

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Regional Outlook

For comprehensive understanding of market dynamics, the global Algae Products Market is analysed across key geographies namely: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). Each of these regions is analysed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of the Algae Products Market

– Changes in industry market dynamics

– Detailed market segmentation by type, application, etc.

– Historical, current and projected market size in terms of quantity and value

– Recent industry trends and developments

– Competition situation of Algae Products Market

– Key companies and product strategies

– Potential niche segment/region showing promising growth.

Finally, the Algae Products Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.

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About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Nikhil Morankar
Reports and Data
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