Algae Products Market

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The Global Algae Products Market will grow at a CAGR of 6.7% from 2017 to 2022 to reach USD 3,318.1 million by 2022, according to the latest publication from Meticulous Research®. The global algae products market is driven by factors such as growing demand for algae products from the pharmaceutical and nutraceuticals industries, increasing utilization of pigments from microalgae due to strict regulations regarding the use of synthetic colors and flavors, and growing consumer preference to algae sourced products. Moreover, the emergence of new application areas, growing use of microalgae in aquaculture, and increasing use of algae in biofuel production provides significant opportunities for the various stakeholders in this market.


Key Market Segments to Watch
The global algae products market is mainly segmented by product (hydrocolloids, carotenoids, omega-3 PUFA, spirulina, chlorella, and others), value (medium value, high value, and low value), application (food and feed, nutraceutical, cosmetic, chemicals, and others), and geography.


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On the basis of product type, algal hydrocolloid commanded the largest share in the global algae products market in 2016, mainly due to the growing demand from food, pharmaceutical, medicinal, and biotechnological industries due to their distinct physico-chemical properties such as hydrophilicity, biodegradability, biocompatibility, non-toxicity, pleasant taste & odor; and low cost. However, algal omega-3 PUFA is expected to witness a fastest growth during the forecast period, as there are many shortcomings of fish derived omega-3 PUFA, an alternative to algal omega-3 PUFA. The various aspects of fish derived omega-3 PUFA such as undesirable taste & odor, diminishing supplies, objections by vegetarians, its chemical processing methods, and presence of contaminants such as mercury, dioxins, and polychlorinated biphenyls propels the adoption of algal omega-3 PUFA which is considered as one of the best alternatives in various parts of the globe.


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On the basis of application, food and feed accounted for the major share of the global algae products market in 2016, owing to increasing demand for hydrocolloids, spirulina, and pigments from this segment. However, the nutraceutical segment is expected to grow at a considerable pace in the next few years, mainly attributed to the consumers’ growing desire for natural alternatives, rising health and wellness trend, and growing incidence of chronic diseases.


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Top companies in the global algae products market
The key players operating in the global algae products market are DIC Corporation (Japan), Cellana Inc. (U.S.), Taiwan Chlorella Manufacturing Company (China), Algaetech International Sdn Bhd (Malaysia), Cyanotech Corporation (U.S.), BlueBioTech Int. GmbH (Germany), Algatechologies ltd. (Israel), Pond Technologies Inc. (Canada), E.I.D. – Parry (India) Limited (India), Tianjin Norland Biotech Co., Ltd., (China), AlgaeCan Biotech Ltd. (Canada), Corbion NV (The Netherlands), Qponics Limited (Australia), Royal DSM (The Netherlands), Heliae Development, LLC (U.S.), and SUN CHLORELLA CORPORATION (Japan).


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About Meticulous Research®
Meticulous Research® is founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Contact Us:
Viren Shrivastava
AVP- Global Sales and Marketing
Meticulous Research®
Tel: +1-646-781-8004
Email: viren@meticulousresearch.com

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