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Marine Algae Market

Marine Algae Market by Cultivation Technology (Open Ponds, Raceway Ponds, Closed Photo bioreactor, Closed Fermenter Systems, Others) by Application (Marine Sector, Aviation Sector, Road Transport, DHA Production (Protein Sales), DHA Production (Pharmaceutical Applications), Bioplastics, Others) – Ukraine War, Future Prospects And Competitive Analysis, 2016 – 2028

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Table Of Content

Market Insights

Global Marine Algae Market: A Study of Changing Market Dynamics, Growth, Future Prospects, and Russia – Ukraine War impact Analysis, 2016 – 2028

The marine algae market is expected to grow higher in the next forecasted period. The demand for marine algae is highly dependent on the industries that use the algae as raw material, i.e., the food, beauty, and pharmaceutical industries. These industries have been forecasted to see high growths, contributing to a steady rise in demand for marine algae.

The global Marine Algae market generated over USD 943.48 million in 2021. It is expected to exhibit a CAGR of over 8.07% during the forecast period to reach around USD 1,690.09 million by the end of 2028. At the same time, the cumulative growth opportunity offered by the global Marine Algae market stood above USD 9,565.84 million for the analysis period ranging from 2022 to 2028.

marine-algae-market

Interesting Facts about Marine Algae Industry

Marine Algae produces almost 87% of Earth’s oxygen
Marine Algae is a significant component of the marine ecosystem
Certain species of Marine Algae can be used in the pharmaceutical industry
Marine Algae is a rich source of minerals and vitamins
There are over a thousand species found in Marine Algae

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Increasing Investment in R&D to Drive the Future Growth of the Marine Algae Market

The biggest driver of the global marine algae market is the rise in research and development and the investment in R&D by leading industries. Marine algae are a relatively discovery, and widespread research is being conducted on their benefits and uses. For example, many pharmaceutical companies believe that marine algae can be used to cure fatal and chronic diseases and have conducted large-scale studies on the matter. Therefore, research on marine algae is the foremost driver of marine algae extracts and products.

Ever Expanding Application Market for Marine Algae

Some of the major application markets for marine algae include Marine Sector, Aviation Sector, Road Transport, DHA Production (Protein Sales), DHA Production (Pharmaceutical Applications), Bioplastics, and Others). Another driver to the marine algae market is a change in global lifestyles whereby more and more people are interested in using the newest and best products to enhance their health and beauty. For example, beauty products, cosmetics, vitamins, and other natural health products that use organic ingredients are highly advertised and consumed worldwide. Therefore, marine algae products are advertised as organic, highly nutritious, and beneficial, increasing their demand. Also, as veganism and vegetarianism are becoming more popularized, more people search for plant-based proteins. Therefore, marine algae food products are in high order because they offer protein alternatives to these subsets of people.

Challenges Associated with Extraction Process of Marine Algae

The complex algae extraction process is one of the most considerable restraints to the marine algae market. Not only is the process long and expensive, requiring specific technology and trained extractors, but factors like government regulations, water pollution, oil spills, and waste disposal in water bodies all make the extraction process more difficult.

Environmental Regulations to Arrest the Growth of Marine Algae

Another restraint to the market is the fight for environmental protection and management. For example, a colossal movement aims to protect algae colonies from exploitation because of their natural habitat for marine life. However, the pharmaceutical, beauty, and cosmetic industries face massive pushback from this movement.

Open Ponds Cultivation to Lead the Marine Algae Production Technology Segment

Open Ponds Cultivation Technology, Raceway Ponds Cultivation Technology, Closed Photo bioreactor Cultivation Technology, and Closed Fermenter Systems Cultivation Technology are significant segments based on Marine Algae cultivation technology. Open pond cultivation technology held over 35% share in the global industry in 2021. In contrast, Closed Fermenter Systems Cultivation is likely to grow at a considerable pace over the years to come.

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Slow Growth Rate in Developing Countries

Lastly, there is a lack of research and development in developing countries. The marine algae market has not been able to expand much outside of the North American and European regions. The market penetration in African countries is particularly low, so that the R&D and extraction in those countries are significantly low. Extraction of marine algae and the production of algae products are also very expensive, which discourages new players from entering the market.

Large Number of Players to Venture into Marine Algae Industry

Algae Systems LLC, Algae Tec, Algenol, Algix, Dao Energy, LLC, Diversified Energy Corporation, DSM Nutritional Products, Kai BioEnergy Corp., Kent BioEnergy Corporation., LiveFuels, Inc, Phycal LLC, Pond Biofuels Incorporated, Sapphire Energy, Inc. and Solazyme, Inc. are some of the most promising players in global Marine Algae market. Marine Algae industry is rapidly evolving and expected to offer numerous future growth opportunities. In a quest to explore the future opportunities, large number if new entrants are expected to venture in Marine Algae industry oer the span of forecast.

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Marine Algae Market

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Marine Algae Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Cultivation Technology
3.3.2. Application
3.3.3. Geography
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Cultivation Technologys
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Top 6 Players
4.3. Top 3 Players
4.4. Major Strategies Adopted by Key Players

5. COVID 19 Impact Analysis
5.1. Global Marine Algae Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply

6. North America
6.1. North America Marine Algae Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Marine Algae Market, by Cultivation Technology, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. Open Ponds
6.2.3. Raceway Ponds
6.2.4. Closed Photo bioreactor
6.2.5. Closed Fermenter Systems
6.3. North America Marine Algae Market, by Application, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. Marine Sector
6.3.3. Aviation Sector
6.3.4. Road Transport
6.3.5. DHA Production (Protein Sales)
6.3.6. DHA Production (Pharmaceutical Applications)
6.3.7. Bioplastics
6.3.8. Others

7. Europe
7.1. Europe Marine Algae Market, by Country, 2016-2028(US$ Bn)
7.1.1. UK
7.1.2. France
7.1.3. Germany
7.1.4. Italy
7.1.5. Russia
7.1.6. Ukraine
7.1.7. Spain
7.1.8. Belgium
7.1.9. Netherland
7.1.10. Austria
7.1.11. Sweden
7.1.12. Poland
7.1.13. Denmark
7.1.14. Switzerland
7.1.15. Rest of Europe
7.2. Europe Marine Algae Market, by Cultivation Technology, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Open Ponds
7.2.3. Raceway Ponds
7.2.4. Closed Photo bioreactor
7.2.5. Closed Fermenter Systems
7.3. Europe Marine Algae Market, by Application, 2016-2028(US$ Bn)
7.3.1. Overview
7.3.2. Marine Sector
7.3.3. Aviation Sector
7.3.4. Road Transport
7.3.5. DHA Production (Protein Sales)
7.3.6. DHA Production (Pharmaceutical Applications)
7.3.7. Bioplastics
7.3.8. Others

8. Asia Pacific
8.1. Asia Pacific Marine Algae Market, by Country, 2016-2028(US$ Bn)
8.1.1. China
8.1.2. Japan
8.1.3. South Korea
8.1.4. India
8.1.5. Australia
8.1.6. New Zealand
8.1.7. Taiwan
8.1.8. Indonesia
8.1.9. Malaysia
8.1.10. Philippine
8.1.11. Rest of Asia Pacific
8.2. Asia Pacific Marine Algae Market, by Cultivation Technology, 2016-2028(US$ Bn)
8.2.1. Overview
8.2.2. Open Ponds
8.2.3. Raceway Ponds
8.2.4. Closed Photo bioreactor
8.2.5. Closed Fermenter Systems
8.3. Asia Pacific Marine Algae Market, by Application, 2016-2028(US$ Bn)
8.3.1. Overview
8.3.2. Marine Sector
8.3.3. Aviation Sector
8.3.4. Road Transport
8.3.5. DHA Production (Protein Sales)
8.3.6. DHA Production (Pharmaceutical Applications)
8.3.7. Bioplastics
8.3.8. Others

9. Latin America
9.1. Latin America Marine Algae Market, by Country, 2016-2028(US$ Bn)
9.1.1. Brazil
9.1.2. Argentina
9.1.3. Peru
9.1.4. Chile
9.1.5. Colombia
9.1.6. Rest of Latin America
9.2. Latin America Marine Algae Market, by Cultivation Technology, 2016-2028(US$ Bn)
9.2.1. Overview
9.2.2. Open Ponds
9.2.3. Raceway Ponds
9.2.4. Closed Photo bioreactor
9.2.5. Closed Fermenter Systems
9.3. Latin America Marine Algae Market, by Application, 2016-2028(US$ Bn)
9.3.1. Overview
9.3.2. Marine Sector
9.3.3. Aviation Sector
9.3.4. Road Transport
9.3.5. DHA Production (Protein Sales)
9.3.6. DHA Production (Pharmaceutical Applications)
9.3.7. Bioplastics
9.3.8. Others

10. Middle East
10.1. Middle East Marine Algae Market, by Country, 2016-2028(US$ Bn)
10.1.1. UAE
10.1.2.
10.1.3. KSA
10.1.4. Israel
10.1.5. Turkey
10.1.6. Iran
10.1.7. Rest of Middle East
10.2. Middle East Marine Algae Market, by Cultivation Technology, 2016-2028(US$ Bn)
10.2.1. Overview
10.2.2. Open Ponds
10.2.3. Raceway Ponds
10.2.4. Closed Photo bioreactor
10.2.5. Closed Fermenter Systems
10.3. Middle East Marine Algae Market, by Application, 2016-2028(US$ Bn)
10.3.1. Overview
10.3.2. Marine Sector
10.3.3. Aviation Sector
10.3.4. Road Transport
10.3.5. DHA Production (Protein Sales)
10.3.6. DHA Production (Pharmaceutical Applications)
10.3.7. Bioplastics
10.3.8. Others

11. Africa
11.1. Africa Marine Algae Market, by Country, 2016-2028(US$ Bn)
11.1.1. South Africa
11.1.2. Egypt
11.1.3. Nigeria
11.1.4. Rest of Africa
11.2. Africa Marine Algae Market, by Cultivation Technology, 2016-2028(US$ Bn)
11.2.1. Overview
11.2.2. Open Ponds
11.2.3. Raceway Ponds
11.2.4. Closed Photo bioreactor
11.2.5. Closed Fermenter Systems
11.3. Africa Marine Algae Market, by Application, 2016-2028(US$ Bn)
11.3.1. Overview
11.3.2. Marine Sector
11.3.3. Aviation Sector
11.3.4. Road Transport
11.3.5. DHA Production (Protein Sales)
11.3.6. DHA Production (Pharmaceutical Applications)
11.3.7. Bioplastics
11.3.8. Others

12. Global
12.1. Global Marine Algae Market, by Cultivation Technology, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. Open Ponds
12.1.3. Raceway Ponds
12.1.4. Closed Photo bioreactor
12.1.5. Closed Fermenter Systems
12.2. Global Marine Algae Market, by Application, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. Marine Sector
12.2.3. Aviation Sector
12.2.4. Road Transport
12.2.5. DHA Production (Protein Sales)
12.2.6. DHA Production (Pharmaceutical Applications)
12.2.7. Bioplastics
12.2.8. Others

13. Company Profiles
13.1. Algae Systems LLC
13.2. Algae Tec
13.3. Algenol
13.4. Algix
13.5. Dao Energy, LLC
13.6. Diversified Energy Corporation
13.7. DSM Nutritional Products
13.8. Kai BioEnergy Corp.
13.9. Kent BioEnergy Corporation.
13.10. LiveFuels, Inc
13.11. Phycal LLC
13.12. Pond Biofuels Incorporated
13.13. Sapphire Energy, Inc.
13.14. Solazyme, Inc.
13.15. Others

List of Figures
FIG. 1 Global Marine Algae Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Marine Algae Market Segmentation
FIG. 4 Global Marine Algae Market, by Cultivation Technology, 2019 (US$ Bn)
FIG. 5 Global Marine Algae Market, by Application, 2021 (US$ Bn)
FIG. 6 Global Marine Algae Market, by Geography, 2021 (US$ Bn)
FIG. 7 Attractive Investment Proposition, by Geography, 2021
FIG. 8 Global Market Positioning of Key Marine Algae Market Manufacturers, 2019
FIG. 9 Global Marine Algae Market Value Contribution, By Cultivation Technology, 2021 & 2028 (Value %)
FIG. 10 Global Marine Algae Market, by Open Ponds, Value, 2016-2028 (US$ Bn)
FIG. 11 Global Marine Algae Market, by Raceway Ponds , Value, 2016-2028 (US$ Bn)
FIG. 12 Global Marine Algae Market, by Closed Photo bioreactor, Value, 2016-2028 (US$ Bn)
FIG. 13 Global Marine Algae Market, by Closed Fermenter Systems , Value, 2016-2028 (US$ Bn)
FIG. 14 Global Marine Algae Market, by Others, Value, 2016-2028 (US$ Bn)
FIG. 15 Global Marine Algae Market Value Contribution, By Application, 2021 & 2028 (Value %)
FIG. 16 Global Marine Algae Market, by Aviation Sector, Value, 2016-2028 (US$ Bn)
FIG. 17 Global Marine Algae Market, by Marine Sector, Value, 2016-2028 (US$ Bn)
FIG. 18 Global Marine Algae Market, by Road Transport, Value, 2016-2028 (US$ Bn)
FIG. 19 Global Marine Algae Market, by DHA Production (Protein Sales), Value, 2016-2028 (US$ Bn)
FIG. 20 Global Marine Algae Market, by DHA Production (Pharmaceutical Applications), Value, 2016-2028 (US$ Bn)
FIG. 21 Global Marine Algae Market, by Bioplastics, Value, 2016-2028 (US$ Bn)
FIG. 22 Global Marine Algae Market, by Others, Value, 2016-2028 (US$ Bn)
FIG. 23 U.S. Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 24 Rest of North America Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 25 U.K. Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 26 Germany Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 27 France Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 28 Italy Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 29 Spain Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 30 Russia Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 31 BENELUX Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 32 Poland Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 33 Austria Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 34 Rest of Europe Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 35 Japan Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 36 China Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 37 India Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 38 South Korea Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 39 Australia Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 40 Southeast Asia Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 41 Rest of Asia Pacific Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 42 Middle East & Africa Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 43 South Africa Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 44 Nigeria Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 45 Egypt Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 46 GCC Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 47 Israel Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 48 Latin America Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 49 Mechanicalzil Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 50 Argentina Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 51 Colombia Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 52 Peru Marine Algae Market, 2016-2028 (US$ Bn)
FIG. 53 Chile Marine Algae Market, 2016-2028 (US$ Bn)

List of Tables
TABLE 1 Market Snapshot: Global Beauty Devices (Marine Algae) Market
TABLE 2 Global Marine Algae Market, by Cultivation Technology, 2016-2028 (US$ Bn)
TABLE 3 Global Marine Algae Market, by Application, 2016-2028 (US$ Bn)
TABLE 4 Global Marine Algae Market, by Geography, 2016-2028 (US$ Bn)
TABLE 5 North America Marine Algae Market, by Cultivation Technology, 2016-2028 (US$ Bn)
TABLE 6 North America Marine Algae Market, by Application, 2016-2028 (US$ Bn)
TABLE 7 North America Marine Algae Market, by Country, 2016-2028 (US$ Bn)
TABLE 8 Europe Marine Algae Market, by Cultivation Technology, 2016-2028 (US$ Bn)
TABLE 9 Europe Marine Algae Market, by Application, 2016-2028 (US$ Bn)
TABLE 10 Europe Marine Algae Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 11 Asia Pacific Marine Algae Market, by Cultivation Technology, 2016-2028 (US$ Bn)
TABLE 12 Asia Pacific Marine Algae Market, by Application, 2016-2028 (US$ Bn)
TABLE 13 Asia Pacific Marine Algae Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 14 Latin America Marine Algae Market, by Cultivation Technology, 2016-2028 (US$ Bn)
TABLE 15 Latin America Marine Algae Market, by Application, 2016-2028 (US$ Bn)
TABLE 16 Latin America Marine Algae Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 17 Middle East Marine Algae Market, by Cultivation Technology, 2016-2028 (US$ Bn)
TABLE 18 Middle East Marine Algae Market, by Application, 2016-2028 (US$ Bn)
TABLE 19 Middle East Marine Algae Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 20 Africa Marine Algae Market, by Cultivation Technology, 2016-2028 (US$ Bn)
TABLE 21 Africa Marine Algae Market, by Application, 2016-2028 (US$ Bn)
TABLE 22 Africa Marine Algae Market, by Country/Region, 2016-2028 (US$ Bn)

Frequently Asked Questions

How COVID 19 Impacted Marine Algae Market?

Like other industries, Marine Algae market also suffered from COVID 19 pandemic which resulted into decline of over 8.34% in revenue generated in 2020

Which is the leading regional market for Marine Algae?

North America is the largest regional market with highest share in the total volume of Marine Algae consumed in 2021

What is the major growth driving factors for global Marine Algae market?

Growing popularity of Marine Algae in wide ranging applications coupled with increasing investment in R&D is driving the demand for Marine Algae

Which is major segment in Marine Algae market by Cultivation Technology?

Open Pond Cultivation segment dominated the Marine Algae market in 2021 with over 40% share

Which is major segment in Marine Algae market by Application?

Marine Sector application segment was the largest application of Marine Algae in 2021 with over 25% share

About Author

Shweta Bisht

Healthcare & Biotech Analyst

Shweta is a healthcare and biotech researcher with strong analytical skills in chemical and agri domains.

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Reviewed By
Gunakesh Parmar

Research Consultant

With over 15 years of dedicated experience in market research since 2009, specializes in delivering actionable insights from data.

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