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Global Microalgae Market Projected to Reach USD 75 Million by 2026

17-Jun-2020 | Facts and Factors

Findings from Facts and Factors report “Microalgae Market By Type (Spirulina, Chlorella, Dunaliella Salina, Red Aphanocapsa, and Others), By Distribution Channel (Online Sales, Hyper Market or Super Market, Retail Stores), and By End-Users (Food, Feed, Pharmaceuticals, Bio fuels, and Others):  Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Microalgae market in 2019 was approximately USD 55 million. The market is expected to grow above a CAGR of 4.9% and is anticipated to reach over USD 75 million by 2026.

Microalgae are nothing but microscopic algae, and generally found in a marine system and fresh water, living in sediment and water column both. Microalgae are a unicellular species which can exists individually or in group. Microalgae does not have root, stem or leaves like other plants. Microalgae perform the photosynthesis and they are generally used in greenhouse gas carbon dioxide to grow photoautotrophically. They are extensively utilized as a food and live feed in agriculture. Microalgae consist of high nutrition and high value compound including fatty acids, pigments and anti-oxidants. Additionally, major species of microalgae is used to acquire a significant quantity of lipids, and later it is converted into biodiesel by transesterification process.

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Browse the full “Microalgae Market By Type (Spirulina, Chlorella, Dunaliella Salina, Red Aphanocapsa, and Others), By Distribution Channel (Online Sales, Hyper Market or Super Market, Retail Stores), and By End-Users (Food, Feed, Pharmaceuticals, Bio fuels, and Others):  Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/microalgae-market-by-type-spirulina-chlorella-dunaliella-salina-1207

Microalgae are a rich source of enzymes, fiber, carbohydrates and protein, and it is widely used as major source of food ingredients. It is also used as supplement or natural food colorant in snacks food, pasta and drinks. Thus, increasing demand of microalgae as a food ingredient in various countries is driving the market growth. Microalgae are a source of numerous valuable compounds carbohydrates, essential minerals and vitamins. Microalgae biomass is supplied in the form of liquids, capsules and tablets that are used as dietary supplements. Moreover, new technological and scientific developments and innovations such as high maturity in cultivation of microalgae and processing technology can surge the market growth in the future years. However, there are various challenges in microalgae production such as low customer demand, climate condition, changing regulations of food authority. Moreover, for the harvesting and recovery process of microalgae requires concentration of microalgae dilute suspension and it also includes techniques such as flocculation, filtration, and centrifugation. These techniques require more processing time, cost and energy. These limitations in microalgae harvesting can restraints the market growth. On the other hand, major players are continuously investing in research and development to reduce the cost of recovery and harvesting of microalgae is expected to create ample opportunities in the market.

By type segmentation, the market is divided into spirulina, chlorella, dunaliella salina, red aphanocapsa, and others. Among these, spirulina is expected to contribute the largest market share in the global microalgae market owing to its use in nutritional supplement in food and its high adoption in animal feed activities.

On the basis of distribution channel, the online stores category is anticipated to grow in the future years attributed to increasing use of microalgae in various food ingredients and expanding online availability of microalgae product.

By end-user segment, the food category is projected to be the largest growing segment over the forecast period due to the nutritional value of microalgae in food products.

By geography, the North America continues to dominate the global market for the microalgae owing to high adoption of microalgae in food and other uses and technological advancement in the harvesting and extraction of microalgae.

Top key players operating in the market are Cyanotech Corporation, DIC Corporation, TerraVia Holdings, Inc. E.I.D, Parry (India) Limited, Cellana LLC, Fuqing King Dnarmsa Spirulina Co. Ltd, Algae.Tec Limited, Taau Australia Pty Ltd, and others.

This report segments the microalgae market as follows:

Global Microalgae Market: By Type Segmentation Analysis

  • Spirulina
  • Chlorella
  • Dunaliella Salina
  • Red Aphanocapsa
  • Others

Global Microalgae Market: By Distribution Channel Segmentation Analysis

  • Spirulina
  • Chlorella
  • Dunaliella Salina
  • Red Aphanocapsa
  • Others

Global Microalgae Market: By End-Users Segmentation Analysis

  • Online Sales,
  • Hyper Market Or Super Market,
  • Retail Stores

Global Microalgae Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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