Algae Products Market Accelerates at 4.8% CAGR to Hit US$ 9.1 Billion by 2032

The global algae products market is currently valued at US$ 4.96 billion and is anticipated to expand at a CAGR of 4.8% to reach US$ 9.1 billion by 2032-end.

Algae are cultivated using both agriculture and aquaculture methods and are incorporated in a variety of end products such as ice cream, cakes, anti-obesity and anti-diabetic agents, toothpaste, aquatic feed ingredients, and moisturisers.

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Key Trends:

1. Increasing Demand for Sustainable and Plant-Based Ingredients: As consumers become more conscious about their health and the environment, there is a growing demand for sustainable and plant-based ingredients.

2. Expansion of Algae-Based Food and Beverages: Algae-based food and beverages have gained popularity due to their nutritional benefits and versatility. Algae can be used as a natural food coloring, texturizing agent, and a source of omega-3 fatty acids.

3. Sustainable Aquaculture and Animal Feed: Algae are considered a sustainable and environmentally friendly alternative to conventional fishmeal and other animal feed ingredients. Algae-based feed supplements provide essential nutrients and can improve the growth, health, and quality of farmed fish and livestock.

4. Algae in Cosmetics and Personal Care Products: Algae-based ingredients are finding applications in the cosmetics and personal care industry. Algae extracts, oils, and powders are used in skincare products, hair care products, and color cosmetics due to their moisturizing, anti-aging, and antioxidant properties.

Competitive landscape:

With a significant number of large-scale suppliers commanding a majority of the market share, the global algae products market is fragmented. A majority of businesses are investing heavily in intensive R&D, especially to create environment-friendly products. Key market players are resorting to acquisitions and product portfolio expansion as primary growth tactics.

• Yemoja introduced EPS-Revive, an external polysaccharide sulphate (EPS) topical beauty ingredient produced from a red algae species, as part of a new line of algae-based skincare products, in April 2021. Protein-rich, vitamin-rich, and antioxidant-rich red algae help the skin retain moisture and restore its natural hydration.

• In March 2022- Ingredient company CP Kelco is partnering with food tech startup Shiru to develop and scale up next-generation plant proteins as more sustainable solutions for several common ingredients.

• In July 2021-Solabia-Algatech Nutrition is launching BioGlena for immune support - a 100 percent natural beta-glucan ingredient from whole Euglena gracilis algae. The ingredient boasts a high beta-glucan content of over 55 percent, in addition to complete proteins, essential vitamins, minerals and fatty acids.

Key Segments Covered in Algae Products Industry Research:

• By Product :
• Hydrocolloids
• Carotenoids & Pigments
• Lutein
• Beta Carotene
• Lycopene
• Astaxanthin
• Fucoxanthin
• Others
• Antioxidants
• Lipids
• Proteins
• Others

• By Form :
• Powder
• Liquid

• By Application :
• Food & Beverages
• Animal & Aquaculture Feed
• Cosmetics & Personal Care
• Others

• By Sale Channel :
• Direct Sales of
• Indirect Sales of
• Store-based Retailing
• Hypers/Supers
• Pharmaceutical/Drug Stores
• Specialty Stores
• Others
• Online Sales of

• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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How will be insights and market estimations provided in the Fact.MR report on the Demand of Algae Products make a difference?

• The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions

• The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period

• The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets

• Provides scrutiny of the industry trends that have shaped recent government policies

• Provides an account of major breakthroughs in all segments that might change the course of the market considerably

• Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Algae Products Market

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This release was published on openPR.