Microalgae-based Products Market Overview
Microalgae are minute unicellular algae that live in sediments and water columns in both marine and freshwater settings. Microalgae-based products are employed in a variety of biotechnological applications, including wastewater bioremediation, biodiesel generation, and human and animal nutrition dietary supplements. Food and beverage, personal care goods, pharmaceuticals, nutraceuticals, and dietary supplements, chemicals, fuel, and animal feed all use microalgae-based products. The global Microalgae-based Products market is projected to grow at a significant rate in the forthcoming years.
Currently, microalgae-based products are widely used in the manufacture of food supplements and nutraceuticals. The global Microalgae-based Products market is being driven by a growth in consumer knowledge about nutrition and health, as well as a preference for natural alternatives to standard pharmaceutical products.
Another key factor driving the global Microalgae-based Products market is the increased use of high-value compounds in microalgae, such as fatty acids and pigments, in the manufacturing of dietary supplements. Furthermore, manufacturers and public research institutes are increasing their attention on R&D efforts in order to accelerate technological breakthroughs, and new technologies for product development are also projected to boost the market over the forecast period.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Product, Application, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | EID Parry Ltd., euglena Co, Ltd, Cyanotech Corporation, AstaReal Group, BlueTech International GmbH., Far East Bio-Tec Co., Ltd, Cellana Inc., Ocean Nutrition, Algae Health Sciences - A BGG Company, Earthrise Nutritional, NOW, Necton, Algae International Berhad (AIB), Proalgen Biotech Ltd. |
Covid-19 Impact on Microalgae-based Products Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Microalgae-based Products Market Segment Overview
According to Product, the Spirulina segment dominated the global microalgae-based products market in 2020. Spirulina is a protein supplement as well as a health food. As a result, it has acquired appeal in the human nutraceutical business in a variety of developing and undeveloped nations, such as Asia and Africa, where malnutrition is common. Spirulina demand is expected to be high in the near future, thanks to increased consumer knowledge of the health advantages of spirulina-based food products and the vast range of natural colours created by spirulina. The governments of India and South Africa are supporting spirulina production because of its health benefits.
Microalgae-based Products Market, By Product
· Spirulina
· Chlorella
· Dunaliella Salina
· Astaxanthin
· Beta-carotene
· PUFA Fatty Acid
· Lutein
· Others
Microalgae-based Products Market, By Application
· Food & Beverages
· Personal Care
· Nutraceuticals & Dietary Supplements
· Pharmaceuticals
· Chemicals
· Fuel
· Animal Feed
· Others
Microalgae-based Products Market Regional Overview
Region-Wise, Europe contributed to the maximum share in the global microalgae-based products market. The presence of a strong industrial base with important manufacturers of medicines and nutraceuticals, as well as packaged food and drinks, is principally responsible for the region's supremacy in the microalgae-based product's market. Microalgae-based products are in high demand in Europe, with applications ranging from food and drinks to animal feed, pharmaceuticals and nutraceuticals, personal care, chemicals, and biofuels. Rising investment in cultivation technologies, combined with a growing emphasis on sustainable solutions, presents lucrative opportunities for the region's microalgae-based products market to grow. Moreover, the market in the Asia Pacific is expected to grow at higher rate in the coming years. North America is also major region for the market.
Microalgae-based Products Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Microalgae-based Products Market Competitor overview
Some key developments and strategies adopted by manufacturers in Microalgae-based Products are highlighted below.
· In September 2018, The Algae Biomass Organization (ABO), the trade association for the algae industry, announced Cyanotech Corporation, a world leader in microalgae-based, high-value nutrition and health products, as its newest Gold-level member. As a Gold member of ABO, Cyanotech joins an elite group of companies and organizations that are coordinating the market strategies, policy support and technology advances that will develop algae into a sustainable source of countless products and services.
· In September 2018, Cyanotech® Corporation, a world leader in microalgae-based, high-value nutrition and health products, announced that it has signed an Asset Purchase Agreement with Cellana LLC to acquire a six-acre production and research facility, known as the Kona Demonstration Facility (KDF), located adjacent to Cyanotech’s existing 90-acre site at the Natural Energy Laboratory of Hawaii Authority (NELHA). The acquisition includes all existing equipment and other assets necessary to operate the facility.
Microalgae-based Products Market, Key Players
· EID Parry Ltd.
· euglena Co, Ltd
· Cyanotech Corporation
· AstaReal Group
· BlueTech International GmbH.
· Far East Bio-Tec Co., Ltd
· Cellana Inc.
· Ocean Nutrition
· Algae Health Sciences - A BGG Company
· Earthrise Nutritional
· NOW
· Necton
· Algae International Berhad (AIB)
· Proalgen Biotech Ltd.
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the Microalgae-based Products market?
The global Microalgae-based Products market is being driven by a growth in consumer knowledge about nutrition and health, as well as a preference for natural alternatives to standard pharmaceutical products.
Q2. Which Segments are covered in the Microalgae-based Products Market report?
Product, Application, and Region. these segments are covered in the Microalgae-based Products market report.
Q3. Which segment is projected to hold the largest share in the Microalgae-based Products Market?
Spirulina segments are projected to hold the largest share in the Microalgae-based Products Market.
Q4. Which region holds the largest share in the Microalgae-based Products market?
Europe held the largest share in the global Microalgae-based Products market
Q5. Which are the prominent players in the Microalgae-based Products Market?
EID Parry Ltd., euglena Co, Ltd, Cyanotech Corporation, AstaReal Group, BlueTech International GmbH., Far East Bio-Tec Co., Ltd, Cellana Inc., Ocean Nutrition, Algae Health Sciences - A BGG Company, Earthrise Nutritional, NOW, Necton, Algae International Berhad (AIB), Proalgen Biotech Ltd. are some key players in the Microalgae-based Products Market.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Microalgae-based Products Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product
- 5.2.1. Spirulina
- 5.2.2. Chlorella
- 5.2.3. Dunaliella Salina
- 5.2.4. Astaxanthin
- 5.2.5. Beta-carotene
- 5.2.6. PUFA Fatty Acid
- 5.2.7. Lutein
- 5.2.8. Others
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Food & Beverages
- 5.3.2. Personal Care
- 5.3.3. Nutraceuticals & Dietary Supplements
- 5.3.4. Pharmaceuticals
- 5.3.5. Chemicals
- 5.3.6. Fuel
- 5.3.7. Animal Feed
- 5.3.8. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Microalgae-based Products Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product
- 6.2.1. Spirulina
- 6.2.2. Chlorella
- 6.2.3. Dunaliella Salina
- 6.2.4. Astaxanthin
- 6.2.5. Beta-carotene
- 6.2.6. PUFA Fatty Acid
- 6.2.7. Lutein
- 6.2.8. Others
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Food & Beverages
- 6.3.2. Personal Care
- 6.3.3. Nutraceuticals & Dietary Supplements
- 6.3.4. Pharmaceuticals
- 6.3.5. Chemicals
- 6.3.6. Fuel
- 6.3.7. Animal Feed
- 6.3.8. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Microalgae-based Products Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product
- 7.2.1. Spirulina
- 7.2.2. Chlorella
- 7.2.3. Dunaliella Salina
- 7.2.4. Astaxanthin
- 7.2.5. Beta-carotene
- 7.2.6. PUFA Fatty Acid
- 7.2.7. Lutein
- 7.2.8. Others
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Food & Beverages
- 7.3.2. Personal Care
- 7.3.3. Nutraceuticals & Dietary Supplements
- 7.3.4. Pharmaceuticals
- 7.3.5. Chemicals
- 7.3.6. Fuel
- 7.3.7. Animal Feed
- 7.3.8. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Microalgae-based Products Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product
- 8.2.1. Spirulina
- 8.2.2. Chlorella
- 8.2.3. Dunaliella Salina
- 8.2.4. Astaxanthin
- 8.2.5. Beta-carotene
- 8.2.6. PUFA Fatty Acid
- 8.2.7. Lutein
- 8.2.8. Others
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Food & Beverages
- 8.3.2. Personal Care
- 8.3.3. Nutraceuticals & Dietary Supplements
- 8.3.4. Pharmaceuticals
- 8.3.5. Chemicals
- 8.3.6. Fuel
- 8.3.7. Animal Feed
- 8.3.8. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Microalgae-based Products Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product
- 9.2.1. Spirulina
- 9.2.2. Chlorella
- 9.2.3. Dunaliella Salina
- 9.2.4. Astaxanthin
- 9.2.5. Beta-carotene
- 9.2.6. PUFA Fatty Acid
- 9.2.7. Lutein
- 9.2.8. Others
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Food & Beverages
- 9.3.2. Personal Care
- 9.3.3. Nutraceuticals & Dietary Supplements
- 9.3.4. Pharmaceuticals
- 9.3.5. Chemicals
- 9.3.6. Fuel
- 9.3.7. Animal Feed
- 9.3.8. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. EID Parry Ltd.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. euglena Co, Ltd
- 10.6. Cyanotech Corporation
- 10.7. AstaReal Group
- 10.8. BlueTech International GmbH.
- 10.9. Far East Bio-Tec Co., Ltd
- 10.10. Cellana Inc.
- 10.11. Ocean Nutrition
- 10.12. Algae Health Sciences - A BGG Company
- 10.13. Earthrise Nutritional
- 10.14. NOW
- 10.15. Necton
- 10.16. Algae International Berhad (AIB)
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
