Microalgae-based Aquafeed Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Microalgae-based Aquafeed Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Microalgae-based Food Market

The global microalgae-based food market size was valued at USD 613.96 million in 2023 and is projected to grow from USD 670.45 million in 2024 to USD 1298.25 million by 2032, exhibiting a CAGR of 8.61% during the forecast period of 2023-2032.

From the beginning of the pandemic until now, the manifestations have been evident and are driving changes in supply chain and consumer behaviors. Consequently, the demand has also fluctuated. It's the untold story of some segments profiting from such interests. In contrast, others shrank the market due to economic difficulties and changing goals of consumers, affecting microalgae-based foods market growth.

Microalgae food supply is a huge market that attracts many consumers because it is nutritionally rich and sustainable. It is also a product that can be used for multiple purposes. Per the trend among health- and environment-aware consumers today, the demand for products of this kind is increasing.

The plant-based protein wave is getting a microalgae boost! Consumers are increasingly searching for options for meat and soy because of fitness, environmental, and moral issues. Microalgae are stepping as much as the plate (or as a substitute, the petri dish) as a wholly unique and sustainable answer, impeding the rise in microalgae-based food market share globally. These tiny powerhouses are packed with protein and essential vitamins, making them a sport-changer inside the plant-primarily based protein marketplace. Microalgae provide a robust fit for the growing demand for plant-primarily based alternatives, positioning them as a critical participant in the future of sustainable food.

Comprehensive Analysis of Microalgae-based Food Market

Microalgae-derived grocery shop categorization is based on the particular species and products. As far as species are concerned, the marketplace covers chlorella, nannochloropsis, isochrysis, and spirulina. Spirulina, which is readily available and possesses a wide range of nutritious benefits, takes a lion’s share of the sector. The significant presence of amino acids among other nutrients in Spirulina puts it among the most essential microalgae for processing into consumable products like nutritional dietary supplements. Nannochloropsis is a fast-growing nutrient value nowadays used for vital nutrients and food color programs. Therefore, it is worth considering and launching. However, the market's histopathological diagnosis reveals nutraceuticals to be the primary factor with the rising ones' use, which is contributed significantly by the millennium, thereby creating recognition of these for their proteins and minerals, initiated by the World Health Organization as their health values without harmful effects.

The North American region led the medical devices market by benefitting a size of USD 228.20 million in 2023 due to the presence of massive food enterprise conglomerates with the capability to make investments in a vast quantity in R&D centers.

The leading players in the microalgae-based food market significantly influence its growth trajectory and set industry standards. These key players include BASF SE (Germany), Cyanotech Corporation (U.S.), Corbion N.V. (Netherlands), DIC CORPORATION (Japan), Earthrise Nutritionals, LLC (U.S.), Terranova Synergistic Nutrition (U.K.), AstaReal Co., Ltd. (Japan), Koninklijke DSM N.V. (Netherlands), Solabia Group (France), and The Archer-Daniels-Midland Company (U.S.) contribute to a competitive landscape, driving innovation and market advancement.

In April 2023, The ProVeg Incubator program invited 12 startups from across the sector, aiming at all the aspects that can help them grow and create more networks, individualized mentorship, and investment opportunities of up to 330k USD to ensure speedy introduction of their alternative protein products in the market.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 8.61% from 2024 to 2032

Unit Value (USD Million)

Segmentation By Species

Spirulina

Chlorella

Nannochloropsis

Isochrysis

Others

By Application

Nutraceuticals

Packaged Food

Beverage

Others

By Region

North America (By Species, Application, and Country)

U.S.

Canada

Mexico

Europe (By Species, Application, and Country)

Germany

France

Spain

Italy

U.K.

Rest of Europe

Asia Pacific (By Species, Application, and Country)

China

India

Japan

South Korea

Rest of Asia Pacific

South America (By Species, Application, and Country)

Argentina

Brazil

Rest of South America

Middle East & Africa (By Species, Application, and Country)

South Africa

Turkey

Rest of ME&A

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1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Trends
4. Key Insights
4.1. Overview of the Global Aquaculture Market
4.2. Regulatory Analysis For Global Microalgae-based Aquafeed Market
4.3. Supply Chain Landscape
4.4. Pricing Analysis
4.5. New Product Launches— Global Microalgae-based Aquafeed Market
4.6. Recent Industry Developments: Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
4.7. Market Analysis and Insights (in Relation with COVID-19)
5. Global Microalgae-based Aquafeed Market Analysis, Insights and Forecast, 2017-2030
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecast
5.2.1. By Species(Value)
5.2.1.1. Spirulina
5.2.1.2. Chlorella
5.2.1.3. Nannochloropsis
5.2.1.4. Isochrysis
5.2.1.5. Others
5.2.2. By Aquatic Animal (Value)
5.2.2.1. Fish
5.2.2.2. Crustaceans
5.2.2.3. Mollusks
5.2.2.4. Others
5.2.3. By Region (Value)
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia Pacific
5.2.3.4. South America
5.2.3.5. Middle East and Africa
6. North America Microalgae-based Aquafeed Market Analysis, Insights and Forecast, 2017-2030
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecast
6.2.1. By Species(Value)
6.2.1.1. Spirulina
6.2.1.2. Chlorella
6.2.1.3. Nannochloropsis
6.2.1.4. Isochrysis
6.2.1.5. Others
6.2.2. By Aquatic Animal (Value)
6.2.2.1. Fish
6.2.2.2. Crustaceans
6.2.2.3. Mollusks
6.2.2.4. Others
6.2.3. By Country (Value)
6.2.3.1. U.S.
6.2.3.2. Canada
6.2.3.3. Mexico
7. Europe Microalgae-based Aquafeed Market Analysis, Insights and Forecast, 2017-2030
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecast
7.2.1. By Species(Value)
7.2.1.1. Spirulina
7.2.1.2. Chlorella
7.2.1.3. Nannochloropsis
7.2.1.4. Isochrysis
7.2.1.5. Others
7.2.2. By Aquatic Animal (Value)
7.2.2.1. Fish
7.2.2.2. Crustaceans
7.2.2.3. Mollusks
7.2.2.4. Others
7.2.3. By Country (Value)
7.2.3.1. France
7.2.3.2. Germany
7.2.3.3. Norway
7.2.3.4. Russia
7.2.3.5. U.K
7.2.3.6. Rest of Europe
8. Asia Pacific Microalgae-based Aquafeed Market Analysis, Insights and Forecast, 2017-2030
8.1. Key Findings / Summary
8.2. Market Size Estimates and Forecast
8.2.1. By Species(Value)
8.2.1.1. Spirulina
8.2.1.2. Chlorella
8.2.1.3. Nannochloropsis
8.2.1.4. Isochrysis
8.2.1.5. Others
8.2.2. By Aquatic Animal (Value)
8.2.2.1. Fish
8.2.2.2. Crustaceans
8.2.2.3. Mollusks
8.2.2.4. Others
8.2.3. By Country (Value)
8.2.3.1. China
8.2.3.2. India
8.2.3.3. Indonesia
8.2.3.4. Vietnam
8.2.3.5. Rest of Asia Pacific
9. South America Microalgae-based Aquafeed Market Analysis, Insights and Forecast, 2017-2030
9.1. Key Findings / Summary
9.2. Market Size Estimates and Forecast
9.2.1. By Species(Value)
9.2.1.1. Spirulina
9.2.1.2. Chlorella
9.2.1.3. Nannochloropsis
9.2.1.4. Isochrysis
9.2.1.5. Others
9.2.2. By Aquatic Animal (Value)
9.2.2.1. Fish
9.2.2.2. Crustaceans
9.2.2.3. Mollusks
9.2.2.4. Others
9.2.3. By Country (Value)
9.2.3.1. Brazil
9.2.3.2. Argentina
9.2.3.3. Rest of South America
10. Middle East & Africa Microalgae-based Aquafeed Market Analysis, Insights and Forecast, 2017-2030
10.1. Key Findings / Summary
10.2. Market Size Estimates and Forecast
10.2.1. By Species(Value)
10.2.1.1. Spirulina
10.2.1.2. Chlorella
10.2.1.3. Nannochloropsis
10.2.1.4. Isochrysis
10.2.1.5. Others
10.2.2. By Aquatic Animal (Value)
10.2.2.1. Fish
10.2.2.2. Crustaceans
10.2.2.3. Mollusks
10.2.2.4. Others
10.2.3. By Country (Value)
10.2.3.1. South Africa
10.2.3.2. Turkey
10.2.3.3. Rest of Middle East & Africa
11. Competitive Matrix
11.1. Key Industry Developments
11.2. Global Market Ranking/Share Analysis (2022)
11.3. Company Profiles (Overview, Products, SWOT Analysis, Recent Developments, Strategies, financials (Based on Availability)
11.3.1. A4F Algae for future
11.3.1.1. Overview
11.3.1.2. Description
11.3.1.3. Product Portfolio
11.3.1.4. Financials (Data as available in public domain and/or on paid databases)
11.3.1.5. Recent Developments
11.3.2. Cellana Inc.
11.3.2.1. Overview
11.3.2.2. Description
11.3.2.3. Product Portfolio
11.3.2.4. Financials (Data as available in public domain and/or on paid databases)
11.3.2.5. Recent Developments
11.3.3. Algalimento SL
11.3.3.1. Overview
11.3.3.2. Description
11.3.3.3. Product Portfolio
11.3.3.4. Financials (Data as available in public domain and/or on paid databases)
11.3.3.5. Recent Developments
11.3.4. Corbion N.V.
11.3.4.1. Overview
11.3.4.2. Description
11.3.4.3. Product Portfolio
11.3.4.4. Financials (Data as available in public domain and/or on paid databases)
11.3.4.5. Recent Developments
11.3.5. Evergen Resources
11.3.5.1. Overview
11.3.5.2. Description
11.3.5.3. Product Portfolio
11.3.5.4. Financials (Data as available in public domain and/or on paid databases)
11.3.5.5. Recent Developments
11.3.6. Greentech Group
11.3.6.1. Overview
11.3.6.2. Description
11.3.6.3. Product Portfolio
11.3.6.4. Financials (Data as available in public domain and/or on paid databases)
11.3.6.5. Recent Developments
11.3.7. Kessler Zoologiegrosshandel GmbH & Co. KG
11.3.7.1. Overview
11.3.7.2. Description
11.3.7.3. Product Portfolio
11.3.7.4. Financials (Data as available in public domain and/or on paid databases)
11.3.7.5. Recent Developments
11.3.8. Koninklijke DSM N.V.
11.3.8.1. Overview
11.3.8.2. Description
11.3.8.3. Product Portfolio
11.3.8.4. Financials (Data as available in public domain and/or on paid databases)
11.3.8.5. Recent Developments
11.3.9. Solabia Group
11.3.9.1. Overview
11.3.9.2. Description
11.3.9.3. Product Portfolio
11.3.9.4. Financials (Data as available in public domain and/or on paid databases)
11.3.9.5. Recent Developments
11.3.10. The Archer-Daniels-Midland Company
11.3.10.1. Overview
11.3.10.2. Description
11.3.10.3. Product Portfolio
11.3.10.4. Financials (Data as available in public domain and/or on paid databases)
11.3.10.5. Recent Developments
12. Strategic Recommedations

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