DUBLIN, January 17, 2022--(BUSINESS WIRE)--The "Microalgae - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Microalgae Market to Reach US$1.3 Billion by the Year 2026
The global market for Microalgae estimated at US$939.4 Million in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2026, growing at a CAGR of 5.3% over the analysis period. Spirulina, one of the segments analyzed in the report, is projected to grow at a 6.2% CAGR to reach US$577.8 Million by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Chlorella segment is readjusted to a revised 4.5% CAGR for the next 7-year period. This segment currently accounts for a 29.4% share of the global Microalgae market.
The use of algae, ranging from chlorella to spirulina, in food and nutrition related applications is growing. Several companies offer spirulina tablets as super foods. These serve as useful ingredients in various energy enhancement and wellness products.
Microalgae are fast emerging as the next-in-line resources that show promising potential for resolving the most urgent needs of the agricultural and industrial sectors. Microalgae can help answer the need for new and safe antioxidants that can be extracted from natural sources (plant materials) and prevent oxidative food deterioration and also lower oxidative harm to living cells.
Since microalgae can generate biomass quite rapidly, they can be used for producing high-value products such as human health and nutrition products, animal feed, aquaculture, pharmaceuticals, transport fuels and industrial chemicals. Further, there is also no risk of microalgae-based products containing pesticides, herbicides or other toxic substances, due to the possibility of controlling the qualities of microalgal cells with the use of clean nutrient media when growing microalgae.
Microalgae offers promising potential for biofuel-based mobility, decreasing reliance on fast exhausting natural resources for fuel generation. As already demonstrated by researchers, biofuel can be produced by using lipids extracted from freshly grown microalgae by removing maximum water content.
The most recent technological advancements in areas including algal cultivation and harvesting, synthetic biology, phenotyping (high-throughput phenomics), and IoT-enabled automation can help augment the industrial potential and enhance the productivity of microalgae.
The U.S. Market is Estimated at $286.1 Million in 2021, While China is Forecast to Reach $253.5 Million by 2026
The Microalgae market in the U.S. is estimated at US$286.1 Million in the year 2021. The country currently accounts for a 29.14% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$253.5 Million in the year 2026 trailing a CAGR of 6.5% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR while Rest of European market (as defined in the study) will reach US$70.1 Million by the end of the analysis period.
Millennials are creating strong demand for immunity enhancing foods and drinks. This immunity boost trend is expected to keep growing and become stronger even after the arrival of vaccines for COVID-19. In developed countries of North America and Europe foods and drinks supporting immune system became a major interest area for consumers. Plant based products and natural solutions are being increasingly sought after.
Dunaliella Salina Segment to Reach $211.8 Million by 2026
In the global Dunaliella Salina segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$122.5 Million in the year 2020 will reach a projected size of US$179.5 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$25.6 Million by the year 2026.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Urgency of Ensuring Sustainability & Robust Investments in Algal Biotechnology as a Means to Achieve the Goal Provides the Foundation for Growth
Sustainability Becomes More Important than Ever. Here's Why
Interest Deepens in Algal Biotechnology as a Potent Tool for Establishing a Circular Bioeconomy
The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
These are Times When Questions Abound & Answers Are Few
So How Fast Or Slow Are We Moving?
Split Scenarios Unfold: The Great Vaccine Divide Emerges
Progress on Vaccinations, Why Should Businesses Care?
With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
Microalgae: A Quick Primer
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 184 Featured)
E.I.D Parry (India) Ltd.
Fuqing King Dnarmsa Spirulina Co., Ltd.
Kent BioEnergy Corporation
Taau Australia Pty Ltd.
TerraVia Holdings, Inc.
3. MARKET TRENDS & DRIVERS
Robust Outlook for Nutraceuticals Strengthened by Pandemic Induced Focus on Immunity Drives Opportunities for Algae as Supplements and Nutritional/Functional Food Sources
Nutraceuticals Market Outlook
Marine Nutraceuticals in the Spotlight
Expanding Population, Rising Food Security & Increasing Consumption of Meat Drive Popularity of Microalgae as Feed Ingredients for Livestock Production
Ban on Use of Antibiotics Drives Demand for Microalgal-Based Feed
Increasing Animal Feed Sources with Algae: A Review
Growing Popularity of Non-Animal Based Protein Bodes Well for the Rise of Algae Proteins
Microalgae in the Food Industry is Poised for Healthy Growth
Microalgae Emerges Into the Spotlight as the Biofuel of the Future
Biodiesel Outlook in the Wake of Decarbonization Efforts
Growing Consensus that the Widely Adopted Biofuel Strategy to Reduce Vehicle Emission in Reality Is a Mistake, Drives Interest in Algae Biofuel
Algae Based Biofuel Storms into the Spotlight With the Promise of Remedying the Situation
Algae Based Inks Emerges as the Future of Inks
Here's What is Going on the Field of Algae Based Inks
Strong Demand for Eco-Friendly Ink from the Packaging Industry Bodes Well for Growth in this Segment
Algae Cosmetics Promises to Slice Through the Lucrative Cosmetics Industry Supported by the Trend Towards Natural Ingredients
Algae's Role the Future of the Global Beauty Industry: A Review
Robust Demand for Pharmaceutical Drugs Expands Algae & Microalgae Applications in Drug Formulations
Algae in Medicine: A Review
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
Total Companies Profiled: 184
For more information about this report visit https://www.researchandmarkets.com/r/ed11vz.
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