Algae Market, By Cultivation Technology (Open Pond, Natural Settings, and Closed System), By Product Type (Microalgae and Macroalgae), By Application (Food & Beverages, Nutraceutical, Pharmaceutical, Cosmetics, Animal and Fish Feed, Biofuel, Waste Water T

Algae Market, By Cultivation Technology (Open Pond, Natural Settings, and Closed System), By Product Type (Microalgae and Macroalgae), By Application (Food & Beverages, Nutraceutical, Pharmaceutical, Cosmetics, Animal and Fish Feed, Biofuel, Waste Water Treatment, Fertilizer, and Specialty Chemicals and Polymers), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

Algae is a diverse group of organisms ranging from unicellular to multicellular. The complex and largest marine algae are called seaweeds. Algae consist of chloroplast, which is similar to cyanobacteria in structure. Algae has wide applications in agar, alginates, fertilizer, energy source, nutrition, pigments, and bioremediation. Algae has a wide range of use in pollution control. It is also used as an alternative to toxic chemicals in order to treat sewers, capture fertilizer runoff in farms, and to treat water in ponds and aquaria.

Market Driver:

Increasing applications of algae:

The term “algae” covers many different aquatic organisms that are capable of producing oxygen through photosynthesis. Algae plays a vital role in environment and well-being of human as it produces half of the oxygen in the earth’s atmosphere. Furthermore, algal biofuels can be used as an alternative for fossil fuels, owing to its ability to produce energy-rich oils. All these factors are expected to increase demand for algae in the neard future.

For instance, On July 2022, DIC Corporation has completed investment in Back of the Yards Algae Sciences Inc. (BYAS), a sustainable food technology startup focused on developing innovative extracts and alternative proteins, headquartered in Chicago, Illinois. The move strategically advances DIC’s growing business position in more sustainable and circular algae-derived products, including natural food colorants, natural food additives, and biostimulants—vital for improving vertical farming yields.

Market Restraint:

Government rules and regulations on algae market:

In the European Union, medicinal products based on ingredients from macroalgae must comply with the EU law on medicines. The EU rules for human medicines are set out in Directive 2001/83/EC.

For Instance, According to United Nations Environment Program, Regulation on closer rules and conditions for aquaculture and sea algae organic production. This Regulation sets the necessary rules and minimum conditions (technical, procedural) as regards the organic production of aquatic animals/aquaculture and sea algae (also fish and other aquatic organisms such as shellfish and crabs).

This Regulation also contains the provisions of Commission Regulation (EC) No 889/2008 of 5 September 2008 on detailed rules for the implementation of the Council Regulation 834/2007.

The Annex is an integral part of this publication.

Market Dynamics

Among product type, the microalgae segment is expected to hold a significant market share in the global algae market over the forecast period. In 2021, the segment accounted for over 70.0% share of the global algae market in terms of revenue. Increasing biofuel production from microalgae is expected to boost the growth of the microalgae segment, owing to high photosynthetic efficiency of microalgae.

Among region, North America held a dominant position in the global algae market in terms of revenue share, in 2021. The region held around 31.50% of the total revenue share generated across the globe. Algae is used in feed additives. North America and Asia Pacific are the top two consumers of feed additives. Rising demand for algae from the feed additives industry is expected to drive market growth in the near future.

Key features of the study:

• This report provides an in-depth analysis of the global algae market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2023– 2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategy adopted by key players
• It profiles key players in the global algae market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include Cyanotech Corporation, Dic Corporation, Corbion N.V, Valagro SpA, Far East Microalgae Industries Co. Ltd., Beijing Gingko Group, Heliae Development Llc, Pond Technologies Holdings Inc., Algaetech International Sdn Bhd, Fuqing King Dnarmsa Spirulina Co. Ltd., Sun Chlorella Corporation, and Ecoduna Ag
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
• Global algae market report caters to various stakeholders in this industry including investors, suppliers, algae manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global algae market

Detailed Segmentation:

• Global Algae Market, By Cultivation Technology:
• Open Pond
• Natural Settings
• Closed System
• Global Algae Market, By Product Type:
• Microalgae
• Macroalgae
• Global Algae Market, By Application:
• Food & Beverages
• Nutraceutical
• Pharmaceutical
• Cosmetics
• Animal and Fish Feed
• Biofuel
• Watertreatment
• Fertilizer
• Specialty Chemicals and Polymers
• Global Algae Market, By Region:
• North America
• U.S.
• Canada
• Latin America
• Mexico
• Brazil
• Argentina
• Rest of Latin America
• Europe
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Middle East & Africa
• Middle East
• Africa
• Company Profiles
• Cyanotech Corporation*
• Company Overview
• Product Portfolio
• Financial Performance
• Key Strategies
• Recent Developments
• Future Plans
• Dic Corporation
• Corbion N.V
• Valagro SpA
• Far East Microalgae Industries Co. Ltd.
• Beijing Gingko Group
• Heliae Development Llc
• Pond Technologies Holdings Inc.
• Algaetech International Sdn Bhd
• Fuqing King Dnarmsa Spirulina Co. Ltd.
• Sun Chlorella Corporation
• Ecoduna Ag

“*” marked represents similar segmentation in other categories in the respective section