Algae Products Market Size, Share, By Product Type (Lipids, Carotenoids, Alginate, Carrageenan, Algal Proteins, and Others), By Source (Blue-Green Algae, Brown Algae, Green Algae, and Red Algae), By Form (Dry, and Liquid), By Application (Food and Beverag

Algae Products Market Size, Share, By Product Type (Lipids, Carotenoids, Alginate, Carrageenan, Algal Proteins, and Others), By Source (Blue-Green Algae, Brown Algae, Green Algae, and Red Algae), By Form (Dry, and Liquid), By Application (Food and Beverages, Cosmetics and Personal Care, Pharmaceuticals, Bio-fuels, and Others), and By Region - Trends, Analysis and Forecast till 2034

Consumers increasing preference for algae-based products is one of the major trends driving growth of target market. Additionally, rising vegetarianism, increasing demand for natural food colors are some of the factor propelling the growth of the global market. Furthermore, the growing demand for biofuels is expected to boost the growth of the market during forecast period.

Algae Products Market Report Highlights:

• In 2023, algae products market was estimated to be worth USD 5.5 billion.
• The target market is anticipated to reach USD 9.8 billion by 2034.
• The target market is growing at a 6.5% CAGR.
• Asia Pacific held the largest share of the market in 2024.
• North America is projected to be the fastest-growing market in the coming years.
• By product type, lipids segment dominate the target market growth.
• By source, blue-green algae holds largest share in the market growth.
• By form, dry algae products expected to dominate the target market growth.
• By application, Pharmaceutical dominate the target market growth.

Algae Products Market Key Highlights:

• In December 2023, Koralo, a German fermentation startup based in South Korea, has developed a fish fillet by using microalgae and mycelium. This fish is a clean-label product, rich in omega-3s, probiotics, vitamins B2 and B12.
• In October 2023, U.S. material science company Algenesis Corporation has developed a technology which uses plants and algae to make bio based plastic.

Algae Products Market Report Analysis:

Algae Food Products as a Healthcare Solution

For instance, according to the research report published by MDPI, in September 2023, Macroalgae are one of the most promising sources of sustainable food raw materials. They can grow rapidly in water, which simplifies the manufacturing process and reduces production costs. Although macroalgae have been used for millennia in Eastern countries such as China, Japan and Korea as raw or processed food, their introduction as a food source in Western society occurred only a few decades ago, when health was declining and food-related diseases were on the rise.

To combat this dietary deficiency, algae play an important role as they are rich in bioactive compounds such as polysaccharides (e.g., alginate, fucoidan, agar and carrageenan); proteins such as phycobiliproteins; carotenoids (beta-carotene and fucoxanthin); phenolic compounds (phlorotannins); vitamins and minerals, which have also been studied against diseases such as hyperglycemia, diabetes, obesity, metabolic disorders and neurodegenerative and cardiovascular diseases.

Browse ∼50 market data tables and ∼45 figures through ∼188 slides and in-depth TOC on “Algae Products Market Size, Share, By Product Type (Lipids, Carotenoids, Alginate, Carrageenan, Algal Proteins, and Others), Source (Blue-Green Algae, Brown Algae, Green Algae, and Red Algae), Form (Dry and Liquid), Application (Food and Beverages, Cosmetics and Personal Care, Pharmaceuticals, Bio-fuels, and Others), and Region - Trends, Analysis, and Forecast till 2034”

Algae Products Market Competitive Landscape:

The key players operating in the algae products market are Algatech LTD, BASF SE, BDI BioLife Science GmbH, Bluetec Naturals Co. Ltd., Cargill Incorporated, Cynotech Corporation, DSM-FIRMENICH, Corbion, CP Kelco U.S. Inc., DIC Corporation, Lyxia Corporation, Seagrass Tech Private Limited, Tianjin Norland Biotech Co. Ltd., and Algae Products International Ltd.