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Microalgae - Global Market Trajectory & Analytics

  • ID: 5140359
  • Report
  • February 2022
  • Region: Global
  • 526 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Algatechnologies Ltd.
  • Beijing Gingko Group
  • Bluetec Naturals Co., Ltd
  • Cyanotech Corporation
  • DIC Corporation
  • DSM N.V.

Global Microalgae Market to Reach US$1.3 Billion by the Year 2026


Microalgae, also known as microphytes, are minute algae that cannot be seen with the human eye. Microalgae are phytoplankton that lives in both the sediment and the water column and can be found in both freshwater and marine systems. Microalgae are fast emerging as the next-in-line resources that show promising potential for resolving the most urgent needs of the agricultural and industrial sectors. Microalgae can help answer the need for new and safe antioxidants that can be extracted from natural sources (plant materials) and prevent oxidative food deterioration and also lower oxidative harm to living cells. Since microalgae can generate biomass quite rapidly, they can be used for producing high-value products such as human health and nutrition products, animal feed, aquaculture, pharmaceuticals, transport fuels and industrial chemicals. Further, there is also no risk of microalgae-based products containing pesticides, herbicides or other toxic substances, due to the possibility of controlling the qualities of microalgal cells with the use of clean nutrient media when growing microalgae. Microalgae offers promising potential for biofuel-based mobility, decreasing reliance on fast exhausting natural resources for fuel generation. As already demonstrated by researchers, biofuel can be produced by using lipids extracted from freshly grown microalgae by removing maximum water content. The most recent technological advancements in areas including algal cultivation and harvesting, synthetic biology, phenotyping (high-throughput phenomics), and IoT-enabled automation can help augment the industrial potential and enhance the productivity of microalgae.

Amid the COVID-19 crisis, the global market for Microalgae estimated at US$939.4 Million in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2026, growing at a CAGR of 5.3% over the analysis period. Spirulina, one of the segments analyzed in the report, is projected to grow at a 6.2% CAGR to reach US$577.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Chlorella segment is readjusted to a revised 4.5% CAGR for the next 7-year period. This segment currently accounts for a 29.4% share of the global Microalgae market. The use of algae, ranging from chlorella to spirulina, in food and nutrition related applications is growing. Several companies offer spirulina tablets as super foods. These serve as useful ingredients in various energy enhancement and wellness products.



The U.S. Market is Estimated at $286.1 Million in 2021, While China is Forecast to Reach $253.5 Million by 2026


The Microalgae market in the U.S. is estimated at US$286.1 Million in the year 2021. The country currently accounts for a 29.14% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$253.5 Million in the year 2026 trailing a CAGR of 6.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR while Rest of European market (as defined in the study) will reach US$70.1 Million by the end of the analysis period. Millennials are creating strong demand for immunity enhancing foods and drinks. This immunity boost trend is expected to keep growing and become stronger even after the arrival of vaccines for COVID-19. In developed countries of North America and Europe foods and drinks supporting immune system became a major interest area for consumers. Plant based products and natural solutions are being increasingly sought after.

Dunaliella Salina Segment to Reach $211.8 Million by 2026


In the global Dunaliella Salina segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$122.5 Million in the year 2020 will reach a projected size of US$179.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$25.6 Million by the year 2026.

Select Competitors (Total 184 Featured) -

  • Algatechnologies Ltd.
  • Allmicroalgae - Natural Products, SA
  • Beijing Gingko Group
  • Bluetec Naturals Co., Ltd
  • C.B.N.Bioengineering Co., Ltd.
  • Cyanotech Corporation
  • DIC Corporation
  • DSM N.V.
  • E.I.D. - Parry (India) Limited
  • Earthrise® Nutritionals LLC
  • Fuji Chemical Industries Co., Ltd.
  • Fuqing King Dnarmsa Spirulina Co., Ltd.
  • Jiangshan Comp Spirulina Co., Ltd.
  • Naturex S.A
  • Novozymes A/S
  • NOW Health Group, Inc.
  • Phycom
  • Taiwan Chlorella Manufacturing Company
  • Yunnan Green A Biological Project Co., Ltd.
  • Zhejiang Binmei Biotechnology Co.,Ltd.
Frequently Asked Questions about the Global Market for Microalgae

What is the estimated value of the Global Market for Microalgae?

The Global Market for Microalgae was estimated to be valued at $939.4 Million in 2020.

What is the growth rate of the Global Market for Microalgae?

The growth rate of the Global Market for Microalgae is 5.6%, with an estimated value of $1300.0 Million by 2026.

What is the forecasted size of the Global Market for Microalgae?

The Global Market for Microalgae is estimated to be worth $1300.0 Million by 2026.

Who are the key companies in the Global Market for Microalgae?

Key companies in the Global Market for Microalgae include Algatechnologies Ltd., Allmicroalgae, Natural Products, SA, Beijing Gingko Group, Bluetec Naturals Co., Ltd, C.B.N.Bioengineering Co., Ltd., Cyanotech Corporation, DIC Corporation and E.I.D..

FEATURED COMPANIES

  • Algatechnologies Ltd.
  • Beijing Gingko Group
  • Bluetec Naturals Co., Ltd
  • Cyanotech Corporation
  • DIC Corporation
  • DSM N.V.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Microalgae - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Urgency of Ensuring Sustainability & Robust Investments in Algal Biotechnology as a Means to Achieve the Goal Provides the Foundation for Growth
  • Sustainability Becomes More Important than Ever. Here’s Why
  • The Time to Get Our Act Together & Move Towards a Circular Bioeconomy Has Come: Global CO2 Emissions (In Billion Metric Tons) for Years 1930, 1940, 1950, 1960, 1970, 1980, 1990, 2000, 2010, & 2020
  • Sustainable Investments to Emerge Into an Unstoppable Force in the Coming Decade: Global Investments in Sustainability (In US$ Billion) for Years 2015, 2018, 2020 and 2022
  • Interest Deepens in Algal Biotechnology as a Potent Tool for Establishing a Circular Bioeconomy
  • After Years of Neglect, The Current Focus on Sustainability is Bringing Algae Biotechnology Back Into the Spotlight: Global Market for Algae Biotechnology (In US$ Billion) for Years 2021, 2023, 2025 and 2027
  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
  • These are Times When Questions Abound & Answers Are Few
  • So How Fast Or Slow Are We Moving?
  • How & When Will the World Be Vaccinated? Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • Split Scenarios Unfold: The Great Vaccine Divide Emerges
  • Vaccine Imbalances to Stretch the Pandemic Further into 2022: Global Percentage (%) of Population Administered With Vaccines by Region as of October 2021
  • Time is of Essence! What We Know So Far - “Vaccine Efficiency Against New Strains is Decreasing”
  • Progress on Vaccinations, Why Should Businesses Care?
  • With IMF’s Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
  • A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • Microalgae: A Quick Primer
  • Recent Market Activity
  • Innovations
  • World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Robust Outlook for Nutraceuticals Strengthened by Pandemic Induced Focus on Immunity Drives Opportunities for Algae as Supplements and Nutritional/Functional Food Sources
  • Nutraceuticals Market Outlook
  • Increasing Familiarity With & Confidence in Nutraceuticals Primes the Market for Acceptance of Algae Based Food & Supplements: Global Opportunity for Nutraceuticals (In US$ Billion) for Years 2021, 2023, 2025 and 2027
  • Marine Nutraceuticals in the Spotlight
  • Expanding Population, Rising Food Security & Increasing Consumption of Meat Drive Popularity of Microalgae as Feed Ingredients for Livestock Production
  • Rise in Animal Meat Production Drives Demand for Feed Fortification by Algae Among Livestock Farmers: Strong Demand for Global Meat Production Volume in Million Metric Tonnes for Beef & Veal, Pork, and Chicken Meat for the Years 2019 through 2021
  • Global Market for Animal Feed (In US$ Billion) for Years 2021, 2023, 2025 and 2027
  • Ban on Use of Antibiotics Drives Demand for Microalgal-Based Feed
  • Increasing Animal Feed Sources with Algae: A Review
  • Growing Popularity of Non-Animal Based Protein Bodes Well for the Rise of Algae Proteins
  • Rising Carbon Footprint of Animal Agriculture Leads to Shift in Consumer Preference for Non-Animal Based Protein Alternatives: Animal Agriculture Contribution to Environmental Pollution (In %)
  • A Growing Market for Protein Alternatives Expands the Addressable Market Opportunity for Algae Proteins: Global Market for Protein Alternatives (In US$ Million) for Years 2021, 2023, 2025 and 2027
  • Microalgae in the Food Industry is Poised for Healthy Growth
  • Microalgae Emerges Into the Spotlight as the Biofuel of the Future
  • Biodiesel Outlook in the Wake of Decarburization Efforts
  • Robust Growth Projected for Biodiesel Brightens the Outlook for Algae Biofuel: Global Market for Biofuel (In US$ Billion) for Years 2020, 2022, 2024 & 2026
  • Growing Consensus that the Widely Adopted Biofuel Strategy to Reduce Vehicle Emission in Reality Is a Mistake, Drives Interest in Algae Biofuel
  • Algae Based Biofuel Storms into a Spotlight With the Promise of Remedying the Situation
  • Algae Based Inks Emerges as the Future of Inks
  • Here’s What is Going on the Field of Algae Based Inks
  • Strong Demand for Eco-Friendly Ink from the Packaging Industry Bodes Well for Growth in this Segment
  • Algae Cosmetics Promises to Slice Through the Lucrative Cosmetics Industry Supported by the Trend Towards Natural Ingredients
  • Consumers Switching to Natural & Organic Cosmetics Lead Manufacturers to Explore the Potential of Using Algae in Cosmetics: Global Natural Cosmetics Sales in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • Algae’s Role the Future of the Global Beauty Industry: A Review
  • Robust Demand for Pharmaceutical Drugs Expands Algae & Microalgae Applications in Drug Formulations
  • More Drugs Being Manufactured Means More Opportunities for the Use of Algae in Medicines & Drug Development: Global Opportunity for Pharmaceutical Contract Manufacturing (In US$ Billion) for Years 2020, 2022, 2024, and 2026
  • Algae in Medicine: A Review

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Microalgae Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Microalgae Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Microalgae Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Microalgae Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Microalgae Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Microalgae Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Microalgae Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

REST OF EUROPE

ASIA-PACIFIC

  • Microalgae Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

REST OF WORLD

IV. COMPETITION

  • Total Companies Profiled: 184

A selection of companies mentioned in this report includes:

  • Algatechnologies Ltd.
  • Allmicroalgae - Natural Products, SA
  • Beijing Gingko Group
  • Bluetec Naturals Co., Ltd
  • C.B.N.Bioengineering Co., Ltd.
  • Cyanotech Corporation
  • DIC Corporation
  • DSM N.V.
  • E.I.D. - Parry (India) Limited
  • Earthrise® Nutritionals LLC
  • Fuji Chemical Industries Co., Ltd.
  • Fuqing King Dnarmsa Spirulina Co., Ltd.
  • Jiangshan Comp Spirulina Co., Ltd.
  • Naturex S.A
  • Novozymes A/S
  • NOW Health Group, Inc.
  • Phycom
  • Taiwan Chlorella Manufacturing Company
  • Yunnan Green A Biological Project Co., Ltd.
  • Zhejiang Binmei Biotechnology Co.,Ltd.