Microalgae are unicellular algal species that may either live in either colonies or singly. It consists of dinoflagellates, the diatoms, and other single-celled algal species. According to the publisher, the global microalgae market is expected to witness a significant growth rate during the forecast period. The market for global microalgae is being driven by the growing demand from the nutraceuticals industry and the technological advancements in nutritional supplements. However, the limitation such as specific climatic conditions favorable to produce microalgae and the availability of counterfeit or sub-quality products are likely to restrain the market growth. The ongoing research and feasibility studies to develop new applications for microalgae are likely to provide opportunities for market growth.
TerraVia Holdings Inc.
DSM Nutritional Products
Taiwan Chlorella Manufacturing Company
Roquette Klotze GmbH & Co. KG
Nutraceuticals are products that are derived from food sources with extra health benefits along with basic nutritional value found in foods. In recent years, nutraceuticals containing microalgae have witnessed a rapidly expanding market. Microalgae is one of the interesting sources for nutraceuticals since algae are capable of producing several biomolecules with bioactive properties, including lutein, astaxanthin, beta carotene, phycobiliprotein, and chlorophyll, among others. Nutraceuticals are attracting a significant interest of consumers due to their potential nutritional, safety, and therapeutic effects. Nutraceuticals can be used to improve health, postpone the aging process, prevent chronic diseases, or just support the functions and integrity of the body.
The global nutraceutical market has witnessed maximum growth in the last decade. In 2019, the global nutraceuticals market valued around USD 260 billion, and the demand were anticipated to grow at a significant rate in the coming years. The factors driving the growth of the nutraceuticals market include an increase in demand for preventive healthcare and a rise in medical treatment globally. Nutraceuticals are becoming a part of the consumer's daily diet. This change is majorly due to the increasing prevalence of lifestyle diseases and people taking preventive healthcare measures. Various regions across the globe are realizing the potential of the nutraceuticals industry and are investing in developing the facilities to serve the respective populations.
For instance, the nutraceuticals market in India is expected to grow from USD 4 billion in 2017 to USD 18 billion by 2025, owing to the rising demand for dietary supplements from the upper and middle-class population. The presence of a large coastline spanning over 7,500 kms, with more than 12 major and 200 minor ports, makes India an ideal manufacturing hub for the global value chain. The country is home to the largest number of US FDA approved plants located outside the US. In terms of geography, Asia-Pacific is the fastest-growing market for nutraceuticals globally, with countries such as Japan, China, and India accounting for a major share. These regions have a presence of a large population coupled with rising disposable incomes expected to drive the demand for nutraceuticals. Currently, the countries that account for major consumption of nutraceuticals include the US, Japan, and Europe, among others.
The R&D in the field of nutraceuticals is directed towards the following fields:
To test the safety, potency, and purity of products
To develop more effective and means of producing ingredients for use in products.
To develop testing methods for ensuring the consistency of the dosage of ingredients included in the company's products.
Develop the new products either by combining the existing ingredients used in nutritional supplements or identifying new ingredients that can be used in nutritional supplements.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
3. Market Analysis
3.2 Market Dynamics
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Feedstock Analysis
3.6 Regulatory Policies
3.7 Analysis of Covid-19 Impact
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter's Five Forces Analysis
4.2.1 Competition in the Industry
4.2.2 Potential of New Entrants into the Industry
4.2.3 Bargaining Power of Suppliers
4.2.4 Bargaining Power of Consumers
4.2.5 Threat of substitute products
5. Market Segmentation & Forecast
5.1 By Type
5.2 By Application
5.2.1 Dietary Supplements
5.2.2 Food and Animal Feed
6. Regional Market Analysis
7. Key Company Profiles
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/nuw3hf
View source version on businesswire.com: https://www.businesswire.com/news/home/20210915005943/en/
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