Algae Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Global Algae Products Market is segmented by Source (Brown Algae, Red Algae, Green Algae, and Blue-green Algae), by Product Type (Algal Protein, Alginate, Carrageenan, Carotenoids, Lipids, and Others), By Application (Personal Care, Food & Beverage, Dietary Supplements, Pharmaceuticals, Animal Feed, and Others) and Geography.

Market Snapshot

snapshot
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5.1 %

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Market Overview

The Global Algae Products Market is forecasted to register a CAGR of 5.1% during the forecast period (2019-2024).

  • Algae have wide applications as functional ingredients in various food products since they are rich in essential oils such as Omega-3 Fatty Acids and Poly-Unsaturated Fatty Acids (PUFA). The widest application of Omega-3 Fatty Acids and PUFA is in health food products and pharmaceuticals.
  • North America holds the largest share of the Global algae products market on account of a high level of consumer awareness about the nutritional benefits of the ingredient.
  • By source, Brown Algae accounts for the largest share of the market.

Scope of the Report

The Global Algae Products Market is segmented by Source into Brown Algae, Red Algae, Green Algae, and Blue-green Algae, by Product Type into Algal Protein, Alginate, Carrageenan, Carotenoids, Lipids, and Other Products, by Application into Personal Care, Food & Beverage, Dietary Supplements, Pharmaceuticals, Animal Feed, and Others. The market is also segmented by Geography to include the trends of the top markets across the world.

By Source
Brown Algae
Red Algae
Green Algae
Blue-green Algae
By Product Type
Algal Protein
Alginate
Carrageenan
Carotenoids
Lipids
Other Product Types
By Application
Personal Care
Food and Beverage
Dietary Supplements
Pharmaceuticals
Animal Feed
Other Applications
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
United Arab Emirates
Rest of Middle East and Africa

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Key Market Trends

By Application Pharmaceuticals Occupied the Largest Market Share

As a novel extrusion aid, algae-products such as carrageenan is used for the production of pellets polymer, as a matrix in oral extended-release tablets and as a stabilizer in micro or nanoparticle systems. It is used as a gelling agent and viscosity improving agent, for the controlled drug release and prolonged retention, which is based on the special features of carrageenan, such as gelling and strong negative charge. Moreover, sodium alginate, extracted from brown seaweed is used as a gel in pharmaceutical preparations. Key players including DSM are extensively catering to the rising demand for algae products with their wide range of product offerings.

trend1

Asia-Pacific is the Fastest Growing Region of the Market Studied

The Asia-Pacific is anticipated to record the fastest growth in the market studied, during the forecast period. Algae products, that are used in food processing, is mostly grown in the Philippines, Vietnam, and Indonesia, among other Asian countries. The region is anticipated to account for a large share in the carrageenan production industry, owing to the possibility of the cultivation of high-quality carrageenan. The algae-based superfoods like Spirulina and Chlorella provide nutritious, vegan supplements for human consumption. In the Asia-Pacific region, the rising consumption nutraceuticals majorly in China and Japan is further assisting the market growth in the region.

trend2

Competitive Landscape

The market studied is held by major global players account for the significant share of the market. Kerry, Cargill, and FMC Corporation are among the major players in the market. Most manufacturers are focusing on the expansion of their current production levels, by increasing sales in various developing regions, as the market in these regions is not consolidated by major players. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Source

      1. 5.1.1 Brown Algae

      2. 5.1.2 Red Algae

      3. 5.1.3 Green Algae

      4. 5.1.4 Blue-green Algae

    2. 5.2 By Product Type

      1. 5.2.1 Algal Protein

      2. 5.2.2 Alginate

      3. 5.2.3 Carrageenan

      4. 5.2.4 Carotenoids

      5. 5.2.5 Lipids

      6. 5.2.6 Other Product Types

    3. 5.3 By Application

      1. 5.3.1 Personal Care

      2. 5.3.2 Food and Beverage

      3. 5.3.3 Dietary Supplements

      4. 5.3.4 Pharmaceuticals

      5. 5.3.5 Animal Feed

      6. 5.3.6 Other Applications

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Spain

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 Germany

        4. 5.4.2.4 France

        5. 5.4.2.5 Italy

        6. 5.4.2.6 Russia

        7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East and Africa

        1. 5.4.5.1 South Africa

        2. 5.4.5.2 United Arab Emirates

        3. 5.4.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Kerry Group Plc

      2. 6.4.2 Archer Daniels Midland Company

      3. 6.4.3 ACCEL Carrageenan Corporation

      4. 6.4.4 TBK Manufacturing Corporation

      5. 6.4.5 Cargill, Incorporated

      6. 6.4.6 Caldic B.V.

      7. 6.4.7 DuPont de Nemours, Inc.

      8. 6.4.8 FMC Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Algae Products Market market is studied from 2016 - 2026.

The Algae Products Market is growing at a CAGR of 5.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Caldic B.V., Archer Daniels Midland Company, DuPont de Nemours, Inc., Cargill, Incorporated, TBK Manufacturing Corporation are the major companies operating in Algae Products Market.

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