A recent report published by Infinium Global Research on algae products market provides in-depth analysis of segments and sub-segments in the global as well as regional algae products market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional algae products market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global algae products market. According to the report, the global algae products market is projected to grow at a CAGR of 5.1% over the forecast period of 2019-2025.
The continuously growing demand for a different type of food additive, cosmetics, nutritional supplements, fertilizers, and whole algae is helping to grow the demand of the algae-based products around the world. Nowadays algae-based products are getting numerous industrial applications to produce an organic product to satisfy a large chunk of the consumers. The growing awareness about the sea-based food, fertilizers and medicine and its health benefits among the consumers is helping to exponentially grow its market around the world.
The continuously growing trend of using healthy food among the young and middle-class consumers owing to the growing disposable income among these consumer group is helping to grow the demand for algae-based food products. Additionally, growing awareness among the animal farmers about the health benefits of regular application of algae-based feed for the animal is helping to grow the demand of the algae in the animal feed production. Further, the continuously growing application of the algae in the pharmaceutical sector for the preparation of the different type of medicine is helping to boost the growth of the market in the near future. However, the cost factor of the algae-based products is restricting the growth of the algae-based products in the potential regions.
Geographically, algae products market is segmented into four regions, North America, Europe, the Asia-Pacific, and RoW. North America is the largest market of the algae products owing to the presence of numerous company engaged in the pharmaceutical, food processing, feed manufacturing using algae for different products. Further, the presence of the large chunk of the consumers, who are aware for the health benefits of the algae products is helping to grow the demand of the different type of algae-based products in this region. Europe is the second-largest market for the algae-based product, after North America. The Asia-Pacific’s algae products market is expected to grow at the highest CAGR during the forecast period, owing to the growing awareness among the young, middle-class consumers and animal farmers about the health benefits about it.
The report on global algae products market covers segments such as type, source, form, and application. On the basis of type, the sub-markets include lipids, carrageenan, carotenoids, algal protein, alginate, and other types. On the basis of source, the sub-markets include brown algae, blue-green algae, red algae, green algae, and other sources. On the basis of form, the sub-markets include solid, and liquid. On the basis of application, the sub-markets include food and beverages, nutraceuticals and dietary supplements, feed, personal care products, pharmaceuticals, and other applications.
The report provides profiles of the companies in the market such as Fenchem Biotek Ltd., Roquette Frères, Corbion N.V., Cp Kelco, Ingredion Incorporated, Kerry Group plc, DuPont de Nemours, Inc., Cargill, Incorporated, Cyanotech Corporation, and BASF SE.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of algae products market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.