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The global algae products market stood at $ 9.9 billion in 2018 and is projected to grow at a CAGR of over 7% during 2019-2024 to reach $ 14.99 billion by 2024, on the back of increasing use of algae products in healthy food items to produce natural nutrient supplements, thereby emerging as a promising substitute for animal based nutrition. The growing application of algae products in the pharmaceutical sector for manufacturing antimicrobials, antivirals and anti-bacterial medicines, neuroprotective products, human therapeutic proteins, drugs for cancer treatment, and pharmacology is another major factor expected to fuel the market in the coming years. Some of the other market drivers are increasing investments in algae production, growing number of mergers & acquisitions, and rising demand for alternative sources of energy such as algae-based biofuels.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study:
- To analyze and forecast the global algae products market size.
- To define, classify and forecast the global algae products market on the basis of source, application, and region.
- To scrutinize the detailed market segmentation and forecast the market size on the basis of application, namely – Pharmaceutical and Nutraceutical, Food & Beverages, Cosmetics and Others.
- To analyze and forecast the market share for algae products with respect to region, namely: North America, South America, Asia-Pacific, Europe and Middle East & Africa.
- To identify tailwinds and headwinds for the global algae products market.
- To strategically profile the leading players operating in algae products market, globally.
Some of the major players operating in the global algae products market are DIC Corporation, BASF SE, Koninklijke DSM N.V., Corbion N.V., Cyanotech Corporation, AlgaTechnologies Ltd., Algaetech International Sdn Bhd, Tianjin Norland Biotech Co., Ltd., Cellana, Inc. and E.I.D Parry (India) Limited.
Both primary as well as exhaustive secondary research were performed for this study. Initially, a list of algae product manufacturers and suppliers was sourced. Subsequently, primary research surveys were conducted with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, researchers were able to include the manufacturers which could not be identified due to the limitations of secondary research. The product offerings and regional presence of all major algae product suppliers across the globe were analyzed.
The global algae products market size was calculated by using a bottom-up approach, where manufacturers’ value shares data for product source (microalgae and macroalgae) were recorded and forecast for the future years. These values were sourced from the industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as directories, databases such as company annual reports, World Bank, industry magazines, industry reports, news dailies, Algae Product Associations, Food and Agricultural Organizations, credible paid databases and proprietary databases were also studied.
Key Target Audience:
- Algae Product manufacturers, Importers and suppliers
- Research organizations and consulting companies
- Organizations, forums and alliances related to Algae
- Government bodies such as regulating authorities and policy makers
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as algae product manufacturers, distributors and dealers, customers and policy makers. The study would also help in identifying market segments that should be targeted over the coming years in order to strategize investments and capitalize on the growth of the market segment.
Report Scope:
In this report, the global algae products market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
Market, by Source:
- Microalgae
- Macroalgae
Market, by Application:
- Pharmaceutical & Nutraceutical
- Food & Beverages
- Cosmetics
- Others
Market, by Region:
- Asia-Pacific
- China
- Japan
- South Korea
- Indonesia
- Philippines
- Rest of Asia-Pacific
North America
- United States
- Canada
- Mexico
- Rest of North America
South America
- Chile
- Brazil
- Peru
- Rest of South America
Middle East & Africa
- Israel
- Saudi Arabia
- UAE
- Turkey
- Rest of Middle East & Africa
Europe
- United Kingdom
- Germany
- Belgium
- France
- Netherlands
- Rest of Europe
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global algae products market.
Please note: With the Enterprise license, the PDF product is printable and editable and comes with a market data excel sheet.
Table of Contents
1. Product Overview2. Research Methodology3. Executive Summary
Companies Mentioned
A selection of companies mentioned in this report includes:
- Algaetech International Sdn Bhd
- AlgaTechnologies Ltd.
- BASF SE
- Cellana, Inc.
- Corbion N.V.
- Cyanotech Corporation
- DIC Corporation
- E.I.D Parry (India) Limited
- Koninklijke DSM N.V.
- Tianjin Norland Biotech Co., Ltd.