Home / Food & Beverage / Algae Products Market By Application (Nutraceuticals, Food & Feed Supplements, Pharmaceuticals, Paints & Coatings, Pollution Control, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Algae Products Market By Application (Nutraceuticals, Food & Feed Supplements, Pharmaceuticals, Paints & Coatings, Pollution Control, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Published: Nov 2018 | Report Code: 57848-11-18

Industry Outlook

The global market for algae products was valued at US$ US$ 32.60 Bn in 2017 and expected to reach US$ 53.43 Bn by 2026, expanding at a CAGR of 5.8% during the forecast period. Europe accounted for the major market share in 2017 and expected to retain market dominance throughout the forecast period. The region is also expected to display the fastest growth during the forecast period.

Growing demand for algae products from the nutraceuticals and pharmaceutical industries is one of the key factors augmenting market growth of algae products. Algae is emerging as one of the most promising source of sustainable crops with potential health benefits including Omega 3, antioxidants and protein. The Nutraceuticals and pharmaceutical prospective of the large variety of algae species has received ever increasing interest. Algae are rich and contains wide ranging source of pharmacologically active natural products and Nutraceuticals. There are ranges of pharmaceutical and Nutraceuticals products derived from algae. The major products currently being commercialized or under consideration for commercial extraction include phycobilins, carotenoids, polysaccharides, fatty acids, vitamins, sterols, and biologically active molecules for use in human and animal health. Use of algae, especially the cyanobacteria (blue-green algae), for antibiotics and pharmacologically active compounds has received ever increasing interest. There are a range of pharmaceutical products derived from algae. Some of them include: antimicrobials, antivirals & antifungals, neuroprotective products, therapeutic proteins, and drugs. The growing use of algae biomass for nutraceutical purposes is expected to provide an attractive revenue stream for algae producers. While nutraceutical content in the baseline algae strain is very small, current market values for these products are extremely high. Physiologically-active nutraceuticals from algae include food supplements, dietary supplements, value-added processed foods as well as non-food supplements such as tablets, soft gels, capsules etc. Some of the noteworthy products that can be derived from algae: Omega 3 polyunsaturated fatty acids (PUFA), carotenoids, and β-Carotene.

Market Synopsis: Value

Algae Products Market

Nutraceuticals Segment, based by Application Expected to Continue Dominating the Algae Products Market in the Coming Years

Based on application, the nutraceuticals segment accounted for the major market share in 2017 and expected to retain market dominance throughout the forecast period. Algae can be cultivated to produce a wide range of end use products. It is a rich source of active natural products and nutraceuticals. Algae products due to its benefits are used on a large scale in manufacturing nutraceuticals products. The products which are commercially used for extraction include carotenoids, fatty acids, vitamins, sterols and biologically active molecules for use in animal and human health. The increasing use of algae biomass in manufacturing nutraceuticals is expected to offer high growth in revenue stream for algae producers in the market worldwide. Nutraceuticals may include herbal products, dietary supplements and isolated nutrients among others which are used on a large scale in the market worldwide.

Algae Products Market

Europe Expected to Continue Dominating the Global Market for Algae Products in the Coming Years as Well

Based on region, the global market for algae products was dominated by Europe in 2017, and the region is expected to display similar trends in the coming years as well. Increasing demand for algae products from the pharmaceutical and nutraceutical industry in Europe has boosted growth of global algae products market. The beneficial properties of algae products have attracted the manufacturers of nutraceuticals and medicines in the region. Therefore, algae products is expected to gain high demand from the pharmaceutical and nutraceutical industry in the region. Algae products market in Europe was led by the growing demand from the nutraceutical industry in 2017 and is expected to boost demand for algae products in the near future. In 2017, the algae products market in Europe was led by the nutraceutical application segment. Growing demand for nutraceuticals in the region has led to high demand for algae products in the region. Therefore, rising demand for algae products from nutraceutical and pharmaceutical products industry is one among the factors promoting growth of algae products in the region.

Asia Pacific is also expected to display prominent growth for algae products in the coming years as well. The algae products market in the region is majorly driven by the perpetually growing demand from food & feed supplements and nutraceuticals industry in the region. India and China uphold huge growth potential due to rising health awareness among the people in the region. China is one of the prime markets in Asia Pacific that determine the overall trend in the region. Further, rising awareness about health and wellbeing among the Indian population is another factor driving market growth of algae products in India.

Algae Products Market

Joint Ventures & Partnerships is a Key Strategies of the Companies Operating in the Algae Products Market

Key players operating in the global algae products market include Algaetech International Sdn Bhd, Aurora Algae, Cellana Inc., DIC Corporation, Cyanotech Corporation, Taau Australia Pty Ltd., Fuqing King Dnarmsa Spirulina Co. Ltd., Alltech Algae, Parry Nutraceuticals and BlueBio Tech International among others.

In February 2017, Cellana Inc., and Living Ink Technologies entered into a joint development and commercialization of inks that contain Cellana’s renewable algae biomass. The sustainable algae-derived ink by Living Inks is totally plant based, biodegradable and renewable. Majority of the ink is algae is ink, which is turned into ink and then applied on paper. This ink is expected to replace conventional inks that use petroleum products and other chemicals, which are toxic. This development is expected to benefit the company, and would allow the company to fight for a better market position in the algae products market.

Algae Products Market

Historical & Forecast Period

2016 – Historical Year

2017 – Base Year

2018-2026 – Forecast Period

Our study analyzed each market segment during the period from 2016 to 2026 with 2017 as the base year. Forecast period between 2018 and 2026 considered for the CAGR calculation.

Report Scope

The report enlightens the thorough outline of global algae products market by categorizing the market in different segment given below:

Application Segment (2016–2026; Kilo Tons, US$ Bn)

  • Nutraceuticals
  • Food & Feed Supplements
  • Pharmaceuticals
  • Paints & Coatings
  • Pollution Control
  • Others

Geography Segment (2016–2026; Kilo Tons, US$ Bn)

  • North America
    • United States
      • by Application
    • Canada
      • by Application
  • Europe
    • Germany
      • by Application
    • U.K.
      • by Application
    • France
      • by Application
    • Rest of Europe
      • by Application
  • Asia Pacific (APAC)
    • China
      • by Application
    • India
      • by Application
    • Japan
      • by Application
    • Rest of Asia Pacific
      • by Application
  • Latin America (LATAM)
    • Brazil
      • by Application
    • Mexico
      • by Application
    • Rest of Latin America
      • by Application
  • Middle East & Africa (MEA)
    • GCC
      • by Application
    • Rest of Middle East & Africa
      • by Application

Algae Products Market

This research report describes leading continents and their major countries, along with profiles of key players operating in overall market and their planned developments. Our report further defines the overall market dynamics such as drivers, challenges, and opportunities prevalent in the market to understand global algae products market more explicitly. Our in-depth quantitative and quantitative analysis of each segment up to country level highlights revenue pockets and investment opportunities in the market.

Key questions answered in this report

  • Who are the major manufacturers and distributors operating in the algae products market?
  • What are the largest segments in the market during the forecast period from 2018 to 2026?
  • Which are the fastest growing segments in the market for the forecast period?
  • What are the current market trends in the algae products market and valuable opportunities for the players?
  • How are the regulatory frameworks affecting the global as well as regional markets?
  • Which are the key players operating in the global market and the strategies adopted by them?
  • What is the market size and trend in emerging and developed markets?

Chapter 1 Preface 13
1.1 Report Scope and Description 13
1.1.1 Study Purpose 13
1.1.2 Target Audience 13
1.1.3 USP and Key Offerings 13
1.2 Research Scope 14
1.3 Research Methodology 15
1.3.1 Phase I – Secondary Research 15
1.3.2 Phase II – Primary Research 16
1.3.3 Phase III – Expert Panel Review 16
1.3.4 Approach Adopted 16
1.3.5 Top-Down Approach 17
1.3.6 Bottom-Up Approach 17
1.3.7 Assumptions 18
1.4 Market Segmentation 18

Chapter 2 Executive Summary 19
2.1 Market Snapshot: Global Algae Products Market 20
2.1.1 Global Algae Products Market, by Application, 2017 (Kilo Tons) (US$ Bn) 22
2.1.2 Global Algae Products Market, by Geography, 2017 (Kilo Tons) (US$ Bn) 22

Chapter 3 Market Dynamics 23
3.1 Introduction 23
3.2 Market Dynamics 24
3.2.1 Market Drivers 24
3.2.1.1 Rising Demand for Algae Products from the Nutraceutical and Pharmaceutical Industries 24
3.2.1.2 Growing Health Awareness among Consumers Driving Market Growth for Algae Products 25
3.2.2 Market Restraints 26
3.2.2.1 Wide Availability of Substitutes Restraining Market Growth 26
3.2.3 Market Opportunities 27
3.2.3.1 Growing Demand for Algae Products in Aquaculture 27
3.2.3.2 Suitability of Algae Biofuels as an Alternative to Renewable Energy 27
3.3 Attractive Investment Proposition, by Geography, 2017 28

Chapter 4 Global Algae Products Market, by Application 29
4.1 Overview 29
4.1.1 Global Algae Products Market Value Share, by Application, 2017 & 2026 (Value, %) 30
4.1.2 Global Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 30
4.2 Nutraceuticals 31
4.2.1 Global Algae Products Market, by Nutraceuticals, 2016 – 2026 (Kilo Tons) (US$ Bn) 31
4.3 Food & Feed Supplements 32
4.3.1 Global Algae Products Market, by Food & Feed Supplements, 2016 – 2026 (Kilo Tons) (US$ Bn) 32
4.4 Pharmaceuticals 33
4.4.1 Global Algae Products Market, by Pharmaceuticals, 2016 – 2026 (Kilo Tons) (US$ Bn) 33
4.5 Paints & Coatings 34
4.5.1 Global Algae Products Market, by Paints & Coatings, 2016 – 2026 (Kilo Tons) (US$ Bn) 34
4.6 Pollution Control 35
4.6.1 Global Algae Products Market, by Pollution Control, 2016 – 2026 (Kilo Tons) (US$ Bn) 35
4.7 Others 36
4.7.1 Global Algae Products Market, by Others, 2016 – 2026 (Kilo Tons) (US$ Bn) 36

Chapter 5 Global Algae Products Market, by Geography 37
5.1 Overview 37
5.1.1 Global Algae Products Market Value Share, by Geography, 2017 & 2026 (Value %) 38
5.1.2 Global Algae Products Market, by Geography, 2016 – 2026 (Kilo Tons) (US$ Bn) 38
5.2 North America 39
5.2.1 North America Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 39
5.2.2 North America Algae Products Market, by Country, 2016-2026, (Kilo Tons) (US$ Bn) 39
5.2.3 U.S. 39
5.2.3.1 U.S. Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 39
5.2.4 Canada 40
5.2.4.1 Canada Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 40
5.3 Europe 41
5.3.1 Europe Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 41
5.3.2 Europe Algae Products Market, by Country, 2016-2026, (Kilo Tons) (US$ Bn) 41
5.3.3 Germany 41
5.3.3.1 Germany Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 41
5.3.4 U.K. 42
5.3.4.1 U.K. Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 42
5.3.5 France 42
5.3.5.1 France Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 42
5.3.6 Rest of Europe 42
5.3.6.1 Rest of Europe Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 42
5.4 Asia Pacific 43
5.4.1 Asia Pacific Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 43
5.4.2 Asia Pacific Algae Products Market, by Country, 2016-2026, (Kilo Tons) (US$ Bn) 43
5.4.3 China 43
5.4.3.1 China Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 43
5.4.4 India 44
5.4.4.1 India Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 44
5.4.5 Japan 44
5.4.5.1 Japan Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 44
5.4.6 Rest of Asia Pacific 45
5.4.6.1 Rest of Asia Pacific Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 45
5.5 Latin America 45
5.5.1 Latin America Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 45
5.5.2 Latin America Algae Products Market, by Country, 2016-2026, (Kilo Tons) (US$ Bn) 45
5.5.3 Brazil 46
5.5.3.1 Brazil Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 46
5.5.4 Mexico 46
5.5.4.1 Mexico Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 46
5.5.5 Rest of Latin America 46
5.5.5.1 Rest of Latin America Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 46
5.6 Middle East & Africa 47
5.6.1 Middle East & Africa Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 47
5.6.2 Middle East & Africa Algae Products Market, by Country, 2016-2026, (Kilo Tons) (US$ Bn) 47
5.6.3 GCC 48
5.6.3.1 GCC Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 48
5.6.4 Rest Of Middle East & Africa 48
5.6.4.1 Rest Of Middle East & Africa Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) (US$ Bn) 48

Chapter 6 Competitive Landscape 49
6.1 Market Positioning of Key Players, 2017 49
6.2 Company Profiles 50
6.2.1 Algaetech International 50
6.2.2 Alltech Algae 52
6.2.3 Aurora Algae 53
6.2.4 Blue Bio Tech International 54
6.2.5 Cellana Inc. 55
6.2.6 Cyanotech Corporation 56
6.2.7 DIC Corporation 57
6.2.8 Fuqing King Dnarmsa Spirulina Co. Ltd. 58
6.2.9 Parry Nutraceuticals 59
6.2.10 Taau Australia Pty Ltd. 60

FIG. 1 Global Algae Products Market: Research Methodology 15
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach 17
FIG. 3 Global Algae Products Market Segmentation 18
FIG. 4 Global Algae Products Market, by Application, 2017 (Kilo Tons) (US$ Bn) 22
FIG. 5 Global Algae Products Market, by Geography, 2017 (Kilo Tons) (US$ Bn) 22
FIG. 6 Attractive Investment Proposition, by Geography, 2017 28
FIG. 7 Global Algae Products Market Value Share, by Application, 2017 & 2026 (Value, %) 30
FIG. 8 Global Algae Products Market, by Nutraceuticals, 2016 – 2026 (Kilo Tons) (US$ Bn) 31
FIG. 9 Global Algae Products Market, by Food & Feed Supplements, 2016 – 2026 (Kilo Tons) (US$ Bn) 32
FIG. 10 Global Algae Products Market, by Pharmaceuticals, 2016 – 2026 (Kilo Tons) (US$ Bn) 33
FIG. 11 Global Algae Products Market, by Paints & Coatings, 2016 – 2026 (Kilo Tons) (US$ Bn) 34
FIG. 12 Global Algae Products Market, by Pollution Control, 2016 – 2026 (Kilo Tons) (US$ Bn) 35
FIG. 13 Global Algae Products Market, by Others, 2016 – 2026 (Kilo Tons) (US$ Bn) 36
FIG. 14 Global Algae Products Market Value Share, by Geography, 2017 & 2026 (Value %) 38
FIG. 15 Global Market Positioning of Key Algae Product Manufacturers, 2017 49

TABLE 1 Market Snapshot: Global Algae Products Market Volume 20
TABLE 2 Market Snapshot: Global Algae Products Market Value 21
TABLE 3 Global Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 30
TABLE 4 Global Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 30
TABLE 5 Global Algae Products Market, by Geography, 2016 – 2026 (Kilo Tons) 38
TABLE 6 Global Algae Products Market, by Geography, 2016 – 2026 (US$ Bn) 38
TABLE 7 North America Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 39
TABLE 8 North America Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 39
TABLE 9 North America Algae Products Market, by Country, 2016-2026, (Kilo Tons) 39
TABLE 10 North America Algae Products Market, by Country, 2016-2026, (US$ Bn) 39
TABLE 11 U.S. Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 39
TABLE 12 U.S. Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 39
TABLE 13 Canada Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 40
TABLE 14 Canada Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 40
TABLE 15 Europe Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 41
TABLE 16 Europe Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 41
TABLE 17 Europe Algae Products Market, by Country, 2016-2026, (Kilo Tons) 41
TABLE 18 Europe Algae Products Market, by Country, 2016-2026, (US$ Bn) 41
TABLE 19 Germany Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 41
TABLE 20 Germany Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 41
TABLE 21 U.K. Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 42
TABLE 22 U.K. Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 42
TABLE 23 France Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 42
TABLE 24 France Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 42
TABLE 25 Rest of Europe Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 42
TABLE 26 Rest of Europe Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 43
TABLE 27 Asia Pacific Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 43
TABLE 28 Asia Pacific Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 43
TABLE 29 Asia Pacific Algae Products Market, by Country, 2016-2026, (Kilo Tons) 43
TABLE 30 Asia Pacific Algae Products Market, by Country, 2016-2026, (US$ Bn) 43
TABLE 31 China Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 44
TABLE 32 China Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 44
TABLE 33 India Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 44
TABLE 34 India Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 44
TABLE 35 Japan Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 44
TABLE 36 Japan Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 44
TABLE 37 Rest of Asia Pacific Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 45
TABLE 38 Rest of Asia Pacific Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 45
TABLE 39 Latin America Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 45
TABLE 40 Latin America Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 45
TABLE 41 Latin America Algae Products Market, by Country, 2016-2026, (Kilo Tons) 45
TABLE 42 Latin America Algae Products Market, by Country, 2016-2026, (US$ Bn) 46
TABLE 43 Brazil Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 46
TABLE 44 Brazil Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 46
TABLE 45 Mexico Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 46
TABLE 46 Mexico Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 46
TABLE 47 Rest of Latin America Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 47
TABLE 48 Rest of Latin America Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 47
TABLE 49 Middle East & Africa Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 47
TABLE 50 Middle East & Africa Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 47
TABLE 51 Middle East & Africa Algae Products Market, by Country, 2016-2026, (Kilo Tons) 47
TABLE 52 Middle East & Africa Algae Products Market, by Country, 2016-2026, (US$ Bn) 47
TABLE 53 GCC Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 48
TABLE 54 GCC Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 48
TABLE 55 Rest Of Middle East & Africa Algae Products Market, by Application, 2016 – 2026 (Kilo Tons) 48
TABLE 56 Rest Of Middle East & Africa Algae Products Market, by Application, 2016 – 2026 (US$ Bn) 48
TABLE 57 Algaetech International: Company Snapshot (Business Description; Product/Business Portfolio; Financial Information; Business Overview and Recent Development) 50
TABLE 58 Alltech Algae: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 52
TABLE 59 Aurora Algae: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 53
TABLE 60 Blue Bio Tech International: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 54
TABLE 61 Cellana Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 55
TABLE 62 Cyanotech Corporation: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 56
TABLE 63 DIC Corporation: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 57
TABLE 64 Fuqing King Dnarmsa Spirulina Co. Ltd.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 58
TABLE 65 Parry Nutraceuticals: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 59
TABLE 66 Taau Australia Pty Ltd.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 60

On the basis of its application, the algae products market is categorized into following segments:

  • Nutraceuticals
  • Food & Feed Supplements
  • Pharmaceuticals
  • Paints & Colorants
  • Pollution Control
  • Others

Algae Products Market

Algae are termed to be one of the vital microorganisms. On the basis of application, algae products market is segmented into food & feed supplements, neutraceuticals, paints & colorants, pollution control, pharmaceuticals and others. Among these, neutraceuticals dominated the global algae products market in 2016. Algae are a very rich source of active natural products and neutraceuticals. The neutraceuticals and pharmaceutical content in the algae strain is very diminutive, but the current value of these products in the market is very high. Increase in the use of algae biomass in the neutraceuticals sector is anticipated to provide an smart revenue stream for algae producers. The products under neutraceuticals form algae include dietary supplements, food supplements and non-food supplements such as tablets, capsules, etc. Food & feed supplements accounted as the second largest application segment of global algae products market. Microalgae are rich in proteins and many possess amino acid profile. It is also known as a protein source for various foods and feed application. It is highly used as protein source for fish meal in aquaculture. Hence, food and feed supplements are expected to generate high demand for algae products in the market. Other applications such as paints & colorants, pollution control, pharmaceuticals and other applications are also expected to boost market demand for algae products during the forecast period from 2016 to 2023.

On the basis of geography, the global algae products market is segmented into following categories,

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Latin America
  • Middle East & Africa

Algae Products Market

 
Europe accounted for the largest share of global algae products market in 2015. Growing demand for algae products from neutraceuticals and pharmaceutical industries in Europe has led to growth of algae products in the market. North America accounted as the second largest region for algae products market. The rising demand for algae from the nutraceuticals industry is anticipated to boost market demand for algae products in the region. High demand for natural colorant in North America food processing industry is another factor boosting growth of algae products market. The ability of algae to produce Omega-3 oils makes it a suitable product for replacing volatile priced fish oil and fishmeal products. Hence, high demand is reported for algae products from North America. Asia Pacific accounted as the third largest market for algae products and is expected to boost growth of global algae products market in the near future. Growing health awareness among the people is another factor driving the growth of algae products market in the region. Other regions such as Europe, Middle East & Africa and Rest of the World are also expected to contribute to the growth of global algae products market during the forecast period from 2016 to 2023.

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