The global algae products market is currently valued at US$ 4.96 billion and is anticipated to expand at a CAGR of 4.8% to reach US$ 9.1 billion by 2032-end.
Algae are cultivated using both agriculture and aquaculture methods and are incorporated in a variety of end products such as ice cream, cakes, anti-obesity and anti-diabetic agents, toothpaste, aquatic feed ingredients, and moisturisers.
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With a significant number of large-scale suppliers commanding a majority of the market share, the global algae products market is fragmented. A majority of businesses are investing heavily in intensive R&D, especially to create environment-friendly products. Key market players are resorting to acquisitions and product portfolio expansion as primary growth tactics.
- Yemoja introduced EPS-Revive, an external polysaccharide sulphate (EPS) topical beauty ingredient produced from a red algae species, as part of a new line of algae-based skincare products, in April 2021. Protein-rich, vitamin-rich, and antioxidant-rich red algae help the skin retain moisture and restore its natural hydration.
- In March 2022- Ingredient company CP Kelco is partnering with food tech startup Shiru to develop and scale up next-generation plant proteins as more sustainable solutions for several common ingredients.
- In July 2021-Solabia-Algatech Nutrition is launching BioGlena for immune support – a 100 percent natural beta-glucan ingredient from whole Euglena gracilis algae. The ingredient boasts a high beta-glucan content of over 55 percent, in addition to complete proteins, essential vitamins, minerals and fatty acids.
Key Segments Covered in Algae Products Industry Research:
- By Product :
- Carotenoids & Pigments
- Beta Carotene
- By Form :
- By Application :
- Food & Beverages
- Dietary Supplements & Pharmaceuticals
- Animal & Aquaculture Feed
- Cosmetics & Personal Care
- By Sale Channel :
- Direct Sales of
- Indirect Sales of
- Store-based Retailing
- Pharmaceutical/Drug Stores
- Specialty Stores
- Online Sales of
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Algae Products make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Algae Products Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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