Growing demand for products derived from spirulina, notably Omega-3 fatty acids.
The global algae products market size is estimated to be valued at USD 4.7 billion in 2021 and projected to reach USD 6.4 billion by 2026, recording a CAGR of 6.3% during the forecast period.
The global algae products market size is estimated to be valued at USD 4.7 billion in 2021 and projected to reach USD 6.4 billion by 2026, recording a CAGR of 6.3% during the forecast period.
Various factors have played a major role in driving the algae products market growth across the globe.
According to MarketsandMarkets, the global algae products market size is estimated to be valued at USD 4.7 billion in 2021 and projected to reach USD 6.4 billion by 2026, recording a CAGR of 6.3% during the forecast period.
Algae-derived products find applications in multiple industries such as food & beverage, feed, nutraceutical, personal care, and pharmaceutical. This is expected to be a major driver for the growth of the market.
The basic objective of the report is to define, segment, and project the global market size for algae products on the basis of application, type, source, form, and region.
The algae products market was valued at USD 3.78 Billion in 2017; this is projected to grow at a CAGR of 5.4%, to reach USD 5.17 Billion by 2023.
The other objectives include analyzing the opportunities in the market for stakeholders and providing a competitive landscape of market trends, analyzing the macro and microeconomic indicators of this market.
Algae-derived products find applications in multiple industries such as food & beverage, feed, nutraceutical, personal care, and pharmaceutical.
The direct consumption of algae as a food product makes it a reliable food alternative with high nutritional value, which is a necessity for the growing population. This factor can also be considered as a driver for this industry.
The direct consumption of algae as a food product makes it a reliable food alternative with high nutritional value, which is a necessity for the growing population. This factor can also be considered as a driver for this industry.
The direct consumption of algae as a food product makes it a reliable food alternative with high nutritional value, which is a necessity for the growing population. This factor can also be considered as a driver for algae industry.
Algae-derived products find applications in multiple industries such as food & beverage, feed, nutraceutical, personal care, and pharmaceutical. This is expected to be a major driver for the growth of the algae products market.
Companies such as Cargill (US), DowDuPont (US), and BASF (Germany) have acquired leading market positions through the provision of a broad product portfolio, along with a focus on diverse end-user segments.
The direct consumption of algae as a food product makes it a reliable food alternative with high nutritional value, which is a necessity for the growing population. This factor can also be considered as a driver for this industry.
The market is driven by factors such as rising health concerns (which include obesity and diabetes) due to consumption of high-calorie products.
Algae-derived products find applications in multiple industries such as food & beverage, feed, nutraceutical, personal care, and pharmaceutical.
The direct consumption of algae as a food product makes it a reliable food alternative with high nutritional value, which is a necessity for the growing population. This factor can also be considered as a driver for this industry.