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Edible Algae Market By Product type (Red algae, Brown algae, Green algae) By Form type (Liquid, Dried) By End-use (Pharmaceutical industry, Food and beverages industry, Chemical, Others) - Growth, Share, Opportunities & Competitive Analysis, 2016 – 2028

About this report

The global Edible Algae Market report explores the critical analysis of the Edible Algae industry using key parameters. The report consists of investment strategies, the need for investments in the Edible Algae industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the Edible Algae industry, as well as how economic and non-economic barriers are helping the Edible Algae market grow. Moreover, the report provides an in-depth analysis of the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors' positioning, STAR analysis and SRC analysis. It also provides key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis and value chain analysis.

edible-algae-market

Key Highlights of the report

How are the major segments performing in the Edible Algae Market?

  • In 2021, red algae dominated the component segment. It can contain a high number of proteins and vitamins. They can be made as a great source of alternative proteins and are used for carrageenan, a food source. 
  • In 2021, the dried category dominated the edible algae market as seaweed powder is used in food and cosmetics products, and powders are easily stored. The converting process of macroalgae extracts to powder remove water and increase shelf life. Therefore, due to these factors, the demand for dried edible algae increased in the edible algae market in 2021. 
  • In 2021, the food and beverages segment in the end-use segment dominated the market. Entrepreneurs' food and beverages industry recognized algae as an alternative protein source to meet the protein demand. These factors are contributing to the segment's expansion. 
  • The supermarket and hypermarkets segment dominated the edible algae market's growth due to customers' high inclination to purchase edible algae globally. 

Which region dominated the Edible Algae Market?

In 2021, Asia pacific is dominating with the highest market share in the global edible algae market. Due to the growing consumer awareness, the high use of algae products, food products, and feed supplements is consumed in developing countries such as China and India. These countries have focused on R&D projects in algae products to control pollution and boost the market growth in 2021. Furthermore, increasing demand for both nutraceuticals and the pharmaceutical industry is increasing the growth of the edible algae market in this region.  

What is the competitive environment of the Edible Algae Market?

The edible algae industry's competitive environment offers information on the total economic profit made by suppliers and businesses, the sales and revenues produced in this sector, the edible algae market share globally, the business organization overview, and the expansion of the companies globally. For instance, in April 2022, Acadian Sea plants Ltd a producer of algae-based products in the North American region, announced its microbial testing laboratory at their Deveau Center Extraction Facility in Cornwallis, Canada. Thus, this expansion strengthens the company to develop new and innovative algae-based products used in various end-use industries such as food and beverages, pharmaceuticals, and others.

Executive Summary

How is the personal care industry enhancing the Edible Algae Market growth?

The development of edible algae is in the personal care industry. The expansion of the companies in the global edible algae market is being driven by an increase in demand for food and beverage, personal care, and other industries. For instance, in June 2020, according to Frontier’s organization, a researcher named Katiyar and Arora mentioned that edible algae oil is considered a useful oil with excessive commercial potential and has the potential to be a raw material for ordinary edible oil. Thus, these research activities in the personal care industry by edible algae are expected to aid the global edible algae market growth during the forecast period.

Which are the key investments by the players in the Edible Algae Market?

Algae have been used in various industries due to their exceptional benefits and environment-friendly nature. The key players make various investments. For instance, in March 2019, Sapec, an agritech company, purchased 31% of the shares of Alagia SA, a manufacturer of algae-based ingredients for many industries such as food, feed, and personal care. Similarly, in July 2022, DIC Corporation, a Tokyo-based chemical company, funded an undisclosed amount to a Chicago-based food tech company that develops algae-based products.

Some of the major players in the market are Acadian Sea plants Ltd., North American Kelp, Ocean Organics Corp, Vitamin Sea Seaweed Co., Mendocino Sea Vegetable Company, Dulse & Rugosa and Irish Seaweeds.

What are the Major Driving Factors for the Edible Algae Market?

The rising pharmaceutical industries of algae for producing antivirals, neuroprotective products and antifungal medicines. The major factors in the market are the stable growth in the global population and the growing demand for food product portfolios. The increased applications of algae in domestic livestock, poultry and aquaculture production are also helping to increase the market growth. Moreover, algae fuel is a liquid fossil fuel used as a source of energy-rich oils. It is also viable for well-known biofuels such as corn and sugarcane. These factors are expected to drive the growth of the edible algae market during the forecast period. 

What are the Major Risks for the Edible Algae Market?

The production of algae requires a high cost due to the increasing water pollution and the mixing of toxic waste chemicals and plastics from industrial sewages. They challenge the harvesting from ocean beds and therefore increase the final cost of the edible algae market. These factors are impacted hamper the market growth. Furthermore, the off taste and flavor of functional ingredients also hamper the market growth.  

Which is the key End-user in the Market Edible Algae Market

The food and beverages industry dominated the Edible Algae market in 2021. Due to the rapid globalization and increasing population of the industrial sector, food and beverages have experienced growth over the past two years. As a result, entrepreneurs' food and beverages industry recognized algae as an alternative protein source to accomplish the protein demand. Moreover, algae are used in the food and beverages industry as food supplements. Algae are added to meat products such as pasty, steaks, frankfurters and sausages, fish, fish, and oils to improve their quality. Furthermore, the process of food manufacturing the algae is used extensively in bakery and confectionery products as it improves their texture, color, and nutritional value. Therefore, the increased use of edible algae in food and beverages is expected to support market growth during the forecast period.

How is the Edible Algae Market performing in regions?

In 2021, Asia pacific is dominating the highest market share in the global edible algae market. India and China have focused on R&D projects in algae products to control pollution and boost the market growth. Due to the growing consumer awareness, high algae products, food products, and feed supplements are consumed in emerging countries such as India and China. Furthermore, increasing demand for both the pharmaceutical and nutraceuticals industry is increasing the growth of the edible algae market in the Asia-Pacific region. 

North America is expected to grow considerably due to surging demand for plant-based products. The increasing popularity of vegan and vegetarian diets has increased the demand for protein in this region. This region has become a valuable market for the functional food and beverages industry and further elevated the utilization of algae in various products. Moreover, the developments and technological advancements in the cultivation of algae are expected to increase the growth of the edible algae market in the North American region.

What is the regulatory landscape for the Edible Algae Market?

The regulatory landscape for the edible algae market is that governments are exploring a stricter regulatory approach across regions. For instance, in April 2022, EPA (Environmental Protection Agency) applied several restrictions on algae producers due to the negative impact on human and animal lives. Furthermore, EPA launched the Harmful Algal Bloom and Hypoxia Research and Control Act (HABHRCA); in that act, they mentioned that if a producer organizes any event on fresh and marine water which is harmful to individuals and animals in the case EPA has the authority to take actions on that company or person. Thus, this restriction on algae producers is expected to hamper the edible algae industry during the forecast period.

What is the Market Size of the Edible Algae regarding value?

The global Edible Algae Market is anticipated to grow at a substantial CAGR of xx% in the upcoming years. The global Edible Algae industry was estimated to be worth USD xx billion in 2021 and was expected to be worth USD xx billion by 2028.

What major players are planning for the future of the Edible Algae Market?

The key players in the Edible Algae market are investing heavily globally due to the growing use of edible algae in various end-use industries such as pharmaceuticals, food & beverages, chemicals, and others. Additionally, the future scenarios indicate that well-known market players would make major investments in startups and medium-sized businesses to provide effective products to the industry. There are high predictions that the major players will acquire or merge with the major companies or startups to gain a competitive edge.

Segmentation of Global Edible Algae Market-

Global Edible Algae Market – By Product type

  • Red algae
  • Brown algae
  • Green algae

 Global Edible Algae Market – By Form type

  • Liquid 
  • Dried 

Global Edible Algae Market – By End-use

  • Pharmaceutical industry
  • Food and beverages industry
  • Chemical 
  • Others

Global Edible Algae Market – By Sales channels

  • Supermarkets and hypermarkets
  • E-commerce
  • Convenience stores
  • Others

Global Edible Algae Market – By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently Asked Questions (FAQs):

The rising pharmaceutical industries of algae for producing antivirals, neuroprotective products and antifungal medicines. The major factors in the market are the stable growth in the global population and the growing demand for food product portfolios. The increased applications of algae in domestic livestock, poultry and aquaculture production are also helping to increase the market growth. Moreover, algae fuel is a liquid fossil fuel used as a source of energy-rich oils.

The global Edible Algae Market is anticipated to grow at a substantial CAGR of xx% in the upcoming years. The global Edible Algae industry was estimated to be worth USD xx billion in 2021 and was expected to be worth USD xx billion by 2028.

In 2021, Asia pacific is dominating with the highest market share in the global edible algae market. Due to the growing consumer awareness, the high use of algae products, food products, and feed supplements is consumed in developing countries such as China and India. These countries have focused on R&D projects in algae products to control pollution and boost the market growth in 2021.

The main competitors dominating the global edible algae market include Acadian Sea plants Ltd., North American Kelp, Ocean Organics Corp, Vitamin Sea Seaweed Co., Mendocino Sea Vegetable Company, Dulse & Rugosa and Irish Seaweeds.

The base year of this report is 2021.

Edible Algae Market Scope

Report Attribute Details
Market Value in 2021 USD XX Bn
Market Value in 2028 USD XX Bn
CAGR XX%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Godaddy
Published Date:  Sep 2022
Category:  Food & Beverage
Report ID:   60626
Report Format:   PDF
Pages:   190
Rating:    4.8 (17)
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