Microalgae-based Products Market by Type (Spirulina, Chlorella, Dunaliella Salina, Astaxanthin, Beta-carotene, PUFA Fatty Acid, Lutein, Others) by Application (Food & Beverages, Personal Care, Pharmaceuticals, Nutraceuticals & Dietary Supplements, Chemicals, Fuel, Animal Feed, Others): Growth, Future Prospects, and Competitive Analysis, 2015 – 2027

Market Insights

The global Microalgae-based Products market is expected to cross market value of USD 61,876.0 million in 2027 from USD 40,635.8 million in 2020. It is expected to grow at a CAGR of over 6.2% during the forecast period.

Conventionally, microalgae such as chlorella are and spirulina are directly available in the market as supplements. The markets for these products were developed several years ago and their markets are relatively matured and are produced in significantly large quantities. Major production of spirulina is concentrated in Asia Pacific and the US while chlorella is primarily produced in Asia, both algae are produced in other smaller countries with prevalent warm climates.

Apart from such whole dried algae, other specific and high-value microalgae are also being produced on increasing scales. These molecules however are less competitive than the standard or conventional alternatives. Yet, some microalgae molecules have higher and more specific advantages over their conventional counterparts which increases their commercial viability. One of such examples is Astaxanthin, for instance taken from dried Heamtococcus Pluvialis is the most commonly developed molecule, available as dietary supplement or food additive. Growing awareness regarding superior benefits of microalgae based products and molecules over conventional products and supplements, therefore, is a prime factor that is supporting the growth of the global microalgae-based products market. Another critical factor supporting the market growth is technological development supporting mass scale production of novel microalgae products.

Key Market Drivers and Restraints

This report identifies and analyzes various factors supporting and inhibiting the growth of the microalgae-based products. It also takes into consideration major factors that will determine future growth opportunities in the global microalgae-based products industry.

Impact of COVID 19

In line with the upsets occurring in the overall food and beverages, and dietary supplements business, the COVID-19 pandemic has also had a prominent setback to the growth of the overall microalgae-based products industry. Key opinion leaders indicate that uptake of even the conventionally matured segments such as spirulia has had experienced setback in its growth. This is mainly due to the fact that microalgae based food and beverages products are not considered as a part of mainstream supplementation regimen, and have easily available substitutes in the form of cheaper synthetic supplementation products.

Europe to have Command on the Global Microalgae-based Products Market

Currently, Europe dominates the global microalgae-based products market and shall continue its lead through the forecast period. Europe market is characterized by strong economical base to establish its position as a prominent zone for microalgae research and production. These products are touted in the region as a new natural source of supplementation. Application of microalgae-based products in life sciences application is also witnessing high traction in the region. Europe is also characterized by domicile of several giants in this space such as DSM.

In terms of regional demarcation, the global microalgae-based products market is categorized into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America closely follows the lead of Europe, while a boost in production shall be witnessed in Asia Pacific markets.

Spirulina to Continue its Leading Position in the global Microalgae-based Products Market

Based on product types, the global microalgae-based products market is segmented into Dunaliella Salina, Chlorella, Spirulina, Beta-carotene, Astaxanthin, Lutein, PUFA Fatty Acid and Others. Among these, spirulina leads in terms of global market share and has highest production volume worldwide. Health benefits such as anti-inflammatory, brain-protective advantage, and anti-oxidative properties tout the dominance of this segment.

Global Micro-algae Based Products Market to be Commanded by Usage in Dietary Supplements Segment

Among its several applications, microalgae-based products have the highest usage in dietary supplements industry. Other major applications considered in this report are nutraceuticals & dietary supplements, pharmaceuticals, personal care, fuel, chemicals, animal feed and others. There is a consistently increasing demand for natural dietary supplements in the global markets, due to their proven safety and long-lasting effects. Such factors contribute to the dominance of this segment.

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 Microalgae-based Products Market

3.Market Dynamics

3.1.Introduction
3.1.1. Global Microalgae-based Products Market Value, 2015-2027, (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, 2020
3.3.1.Type
3.3.2.Application
3.3.3.Geography

4.Market Positioning of Key Players, 2020

4.1.Company market share of key players, 2020
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 Microalgae-based Products Market Pre Vs Post COVID 19, 2019 – 2027
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply

6.North America

6.1.North America Microalgae-based Products Market, by Country, 2015-2027 (US$ Bn)
6.1.1.U.S.
6.1.2.Canada
6.1.3.Mexico
6.2.North America Microalgae-based Products Market, by Product, 2015-2027 (US$ Bn)
6.2.1.Overview
6.2.2.Spirulina
6.2.3.Chlorella
6.2.4.Dunaliella Salina
6.2.5.Astaxanthin
6.2.6.Beta-carotene
6.2.7.PUFA Fatty Acid
6.2.8.Lutein
6.2.9.Others
6.3.North America Microalgae-based Products Market, By Application, 2015-2027 (US$ Bn)
6.3.1.Overview
6.3.2.Food & Beverages
6.3.3.Personal Care
6.3.4.Pharmaceuticals
6.3.5.Nutraceuticals & Dietary Supplements
6.3.6.Chemicals
6.3.7.Fuel
6.3.8.Animal Feed
6.3.9.Others

7.Europe

7.1.Europe Microalgae-based Products Market, by Country, 2015-2027 (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.Spain
7.1.7.Belgium
7.1.8.Netherland
7.1.9.Austria
7.1.10.Sweden
7.1.11.Poland
7.1.12.Denmark
7.1.13.Switzerland
7.1.14.Rest of Europe
7.2.Europe Microalgae-based Products Market, by Product, 2015-2027 (US$ Bn)
7.2.1.Overview
7.2.2.Spirulina
7.2.3.Chlorella
7.2.4.Dunaliella Salina
7.2.5.Astaxanthin
7.2.6.Beta-carotene
7.2.7.PUFA Fatty Acid
7.2.8.Lutein
7.2.9.Others
7.3.Europe Microalgae-based Products Market, By Application, 2015-2027 (US$ Bn)
7.3.1.Overview
7.3.2.Food & Beverages
7.3.3.Personal Care
7.3.4.Pharmaceuticals
7.3.5.Nutraceuticals & Dietary Supplements
7.3.6.Chemicals
7.3.7.Fuel
7.3.8.Animal Feed
7.3.9.Others

8.Asia Pacific

8.1.Asia Pacific Microalgae-based Products Market, by Country, 2015-2027 (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.Southeast Asia
8.1.9.Central Asia
8.1.10.Rest of Asia Pacific
8.2.Asia Pacific Microalgae-based Products Market, by Product, 2015-2027 (US$ Bn)
8.2.1.Overview
8.2.2.Spirulina
8.2.3.Chlorella
8.2.4.Dunaliella Salina
8.2.5.Astaxanthin
8.2.6.Beta-carotene
8.2.7.PUFA Fatty Acid
8.2.8.Lutein
8.2.9.Others
8.3.Asia Pacific Microalgae-based Products Market, By Application, 2015-2027 (US$ Bn)
8.3.1.Overview
8.3.2.Food & Beverages
8.3.3.Personal Care
8.3.4.Pharmaceuticals
8.3.5.Nutraceuticals & Dietary Supplements
8.3.6.Chemicals
8.3.7.Fuel
8.3.8.Animal Feed
8.3.9.Others

9.Latin America

9.1.Latin America Microalgae-based Products Market, by Country, 2015-2027 (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 Microalgae-based Products Market, by Product, 2015-2027 (US$ Bn)
9.2.1.Overview
9.2.2.Spirulina
9.2.3.Chlorella
9.2.4.Dunaliella Salina
9.2.5.Astaxanthin
9.2.6.Beta-carotene
9.2.7.PUFA Fatty Acid
9.2.8.Lutein
9.2.9.Others
9.3.Latin America Microalgae-based Products Market, By Application, 2015-2027 (US$ Bn)
9.3.1.Overview
9.3.2.Food & Beverages
9.3.3.Personal Care
9.3.4.Pharmaceuticals
9.3.5.Nutraceuticals & Dietary Supplements
9.3.6.Chemicals
9.3.7.Fuel
9.3.8.Animal Feed
9.3.9.Others

10.Middle East

10.1.Middle East Microalgae-based Products Market, by Country, 2015-2027 (US$ Bn)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Turkey
10.1.5.Iran
10.1.6.Rest of Middle East
10.2.Middle East Microalgae-based Products Market, by Product, 2015-2027 (US$ Bn)
10.2.1.Overview
10.2.2.Spirulina
10.2.3.Chlorella
10.2.4.Dunaliella Salina
10.2.5.Astaxanthin
10.2.6.Beta-carotene
10.2.7.PUFA Fatty Acid
10.2.8.Lutein
10.2.9.Others
10.3.Middle East Microalgae-based Products Market, By Application, 2015-2027 (US$ Bn)
10.3.1.Overview
10.3.2.Food & Beverages
10.3.3.Personal Care
10.3.4.Pharmaceuticals
10.3.5.Nutraceuticals & Dietary Supplements
10.3.6.Chemicals
10.3.7.Fuel
10.3.8.Animal Feed
10.3.9.Others

11.Africa

11.1.Africa Microalgae-based Products Market, by Country, 2015-2027 (US$ Bn)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Africa Microalgae-based Products Market, by Product, 2015-2027 (US$ Bn)
11.2.1.Overview
11.2.2.Spirulina
11.2.3.Chlorella
11.2.4.Dunaliella Salina
11.2.5.Astaxanthin
11.2.6.Beta-carotene
11.2.7.PUFA Fatty Acid
11.2.8.Lutein
11.2.9.Others
11.3.Africa Microalgae-based Products Market, By Application, 2015-2027 (US$ Bn)
11.3.1.Overview
11.3.2.Food & Beverages
11.3.3.Personal Care
11.3.4.Pharmaceuticals
11.3.5.Nutraceuticals & Dietary Supplements
11.3.6.Chemicals
11.3.7.Fuel
11.3.8.Animal Feed
11.3.9.Others

12.Global

12.1.Global Microalgae-based Products Market, by Product, 2015-2027 (US$ Bn)
12.1.1.Overview
12.1.2.Spirulina
12.1.3.Chlorella
12.1.4.Dunaliella Salina
12.1.5.Astaxanthin
12.1.6.Beta-carotene
12.1.7.PUFA Fatty Acid
12.1.8.Lutein
12.1.9.Others
12.2.Global Microalgae-based Products Market, By Application, 2015-2027 (US$ Bn)
12.2.1.Overview
12.2.2.Food & Beverages
12.2.3.Personal Care
12.2.4.Pharmaceuticals
12.2.5.Nutraceuticals & Dietary Supplements
12.2.6.Chemicals
12.2.7.Fuel
12.2.8.Animal Feed
12.2.9.Others

13.Company Profiles

13.1.Cellana Inc.
13.2.DSM
13.3.BIOPROCESS ALGAE, LLC.
13.4.Corbion
13.5.Algarithm
13.6.Cyanotech Corporation
13.7.Henry Lamotte Oils GmbH
13.8.Algaecytes
13.9.Australian Spirulina
13.10.Algatech LTD
13.11.Lyxia
13.12.BASF SE
13.13.E.I.D. – Parry (India) Limited
13.14.Kuehnle AgroSystems Inc.
13.15.ALGISYS LLC
13.16.euglena Co., Ltd.,
13.17.Heliae Development, LLC
13.18.AlgaEnergy
13.19.ALGENOL
13.20.AstaReal AB

List of Figures

FIG. 1 Global Microalgae-based Products Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Microalgae-based Products Market Segmentation
FIG. 4 Global Microalgae-based Products Market, by Product, 2019 (US$ Bn)
FIG. 5 Global Microalgae-based Products Market, by Geography, 2019 (US$ Bn)
FIG. 6 Attractive Investment Proposition, by Geography, 2019
FIG. 7 Global Market Positioning of Key Microalgae-based Products Market Manufacturers, 2019
FIG. 8 Global Microalgae-based Products Market Value Contribution, By Product, 2019 & 2027 (Value %)
FIG. 9 Global Microalgae-based Products Market, by Spirulina, Value, 2015-2027 (US$ Bn)
FIG. 10 Global Microalgae-based Products Market, by Chlorella, Value, 2015-2027 (US$ Bn)
FIG. 11 Global Microalgae-based Products Market, by Dunaliella Salina, Value, 2015-2027 (US$ Bn)
FIG. 12 Global Microalgae-based Products Market, by Astaxanthin, Value, 2015-2027 (US$ Bn)
FIG. 13 Global Microalgae-based Products Market, by Beta-carotene, Value, 2015-2027 (US$ Bn)
FIG. 14 Global Microalgae-based Products Market, by PUFA Fatty Acid, Value, 2015-2027 (US$ Bn)
FIG. 15 Global Microalgae-based Products Market, by Lutein, Value, 2015-2027 (US$ Bn)
FIG. 16 Global Microalgae-based Products Market, by Others, Value, 2015-2027 (US$ Bn)
FIG. 17 Global Microalgae-based Products Market Value Contribution, By Application, 2019 & 2027 (Value %)
FIG. 18 Global Microalgae-based Products Market, by Food & Beverages, Value, 2015-2027 (US$ Bn)
FIG. 19 Global Microalgae-based Products Market, by Personal Care, Value, 2015-2027 (US$ Bn)
FIG. 20 Global Microalgae-based Products Market, by Pharmaceuticals, Value, 2015-2027 (US$ Bn)
FIG. 21 Global Microalgae-based Products Market, by Nutraceuticals & Dietary Supplements, Value, 2015-2027 (US$ Bn)
FIG. 22 Global Microalgae-based Products Market, by Chemicals, Value, 2015-2027 (US$ Bn)
FIG. 23 Global Microalgae-based Products Market, by Fuel, Value, 2015-2027 (US$ Bn)
FIG. 24 Global Microalgae-based Products Market, by Animal Feed, Value, 2015-2027 (US$ Bn)
FIG. 25 Global Microalgae-based Products Market, by Others, Value, 2015-2027 (US$ Bn)
FIG. 26 U.S. Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 27 Rest of North America Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 28 U.K. Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 29 Germany Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 30 France Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 31 Rest of Europe Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 32 Japan Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 33 China Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 34 India Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 35 Rest of Asia Pacific Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 36 Middle East & Africa Microalgae-based Products Market, 2015-2027 (US$ Bn)
FIG. 37 Latin America Microalgae-based Products Market, 2015-2027 (US$ Bn)