Microalgae Fertilizers Market Analysis

Microalgae fertilizers are some of the fastest-growing factions in the fertilizer market. The microalgae fertilizer has enormous potential and it is expected the market will rise in the coming years to eventually reach a valuation of over US$ 22 million. Microalgae is phytoplankton which is not visible to the naked eye but is found in fertilizer. It is an organic material that explains the rise of demand in the microalgae fertilizer market. There is a trend in the global market fixating on ways of having better and more sustainable farming. It is necessary to recognize that the eutrophication caused by normal fertilizer is no longer acceptable in the fertilizers market. The Microalgae fertilizer marker provides a counterpoint to the problems of inorganic fertilizers. Technology improvement has also added to the greater demand in microalgae fertilizers markets.

Global Microalgae Fertilizers market is expected to witness CAGR of 9.75% during the forecast period. The revenue generated by the global Microalgae Fertilizers market in 2021 was over USD 11.33 million and expected to generate revenue worth USD 22.28 million in 2028. The incremental growth opportunity offered by the global Microalgae Fertilizers is estimated to be USD 120.3 million between 2022 and 2028.     

Interesting Facts about Microalgae Fertilizers Industry

• Microalgae are highly efficient in recovery of nutrients and have strong potential as source of fertilizers
• Large scale commercial production of microalgae fertilizers still has lot of challenges
• Microalgae can be grown using CO₂
• Microalgae fertilizers is still in its nascent stage and need to be researched
• S. and UK are leading research & development in the field of microalgae fertilizers

Growing Trend of Organic Food & Farming

As there is a greater trend in the more sustainable farming of food products, we see an opportunity for the microalgae fertilizers market. There is also a rise in demand for microalgae made in marine water rather than in freshwater, so as the demand grows, people are likely to move from microalgae in freshwater to that in marine water. There will be a rise in organic farming due to industry-wide trends, where the microalgae fertilizers market can flourish. The rise in organic food consumption will lead to a rise in organic food production, which means a greater need for bio-fertilizers. An increase in the need for bio-fertilizers will lead to a rise in microalgae fertilizers. Microalgae also leave room for R&D practices on how effectively companies can provide fertilizers for organic production. The trends also support the shift to better agricultural practices for greater soil stability and enhanced productivity. Companies may invest in further research on microalgae to understand if they can use these cohesively for their benefit. Governments are also supporting the agricultural industry in the form of granting funds. There is funding for raw materials, agrochemicals, and other products to help drive the demand for microalgae fertilizers. Consumers now have better lifestyles and healthier habits. The trend has led to creating better and more organic food products, strengthening the demand for bio-fertilizers to improve food quality. This fact can prove fruitful for the industry in the long run as health is closely related to the quality of life.

Spirulina to Lead the Demand

Spirulina, Chlorella, Dunaliella, Schizochytrium, Euglena, Nannochloropsis, Nostoc and Others are some of the major species used in microalgae fertilizers. Spirulina ia leading type of species used in microalgae fertilizers and accounted for over 35% share of the total revenue generated in 2021. Biofertilizers, Biocontrole, Soil microalgae, Biostimulants and Soil Conditioner are major applications for microalgae fertilizers.

Unfavorable Climate Change or Pose Major Challenge

Climate change is one of the major restraints in the microalgae fertilizers market. As climate change affects different countries, the microalgae production in different fresh water and marine water bodies may reduce. There's also the restraint of accessibility. Countries in the developing world do not have access to the tools to extract microalgae from these bodies. Thus the restraint for the microalgae fertilizers market may be that of accessibility. The developing world also lacks awareness, which can severely hamper the adoption of microalgae in the fertilizer sector.

Fresh Water Microalgae Fertilizers to Dominate

Fresh water and marine water are two major sources for the microalgae fertilizers. Fresh water microalgae fertilizers are leading the demand with over 70% share in total revenue generation in 2021. Growing government support, rising demand for organic products, growing awareness among end-user regarding heath benefits of organic products are some of major factors fueling the demand for microalgae fertilizers in North America. North America accounted for over 35% share in 2021 and closely followed by Europe. While, Asia Pacific is likely to report strong growth over the forecast period in the years to come.

Some of the key players operating in the global microalgae fertilizers market include but not limited to Algaenergy, Algatec (Lusoamoreiras), Algatechnologies Ltd., Algenol, Algix, Allmicroalgae, BASF SE, BGG (Beijing Gingko Group), Cellana LLC, Cyanotech Corporation, DIC Corporation, Fuji Chemical Industries Co., Ltd., Inner Mongolia Rejuve Biotech Co. Ltd., INNOBIO Corporation Limited, KDI Ingredients, Koninkliijke DSM NV, Nikken Sohonsha, Nikken Sohonsha Corp, Parry Nutraceuticals, Roquette Frères and Sinoway Industrial Co., ltd.

Frequently asked questions about global Microalgae Fertilizers industry