Algae Products Market– Global Opportunity Analysis And Industry Forecast (2017-2022)
Algae Products Market by Products (Hydrocolloids, Carotenoids, Omega-3 PUFA, Spirulina, Chlorella, and Others), by Value (Medium Value, High Value, And Low Value), Application (Food and Feed, Nutraceutical, Cosmetics, Chemicals, and Others) - Global Opportunity Analysis and Industry Forecast (2017 – 2022)
This report provides in-depth analysis of algae products market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2022. Global algae products market is expected to reach USD 3,318.1 million by 2022, at a CAGR of 6.7% during the forecast period of 2017 to 2022.
The factors such as growing demand for algae products from pharmaceutical and nutraceutical industries, increasing utilization of pigments from microalgae due to strict regulations regarding the use of synthetic colors and flavors, and increasing preference for algae sourced products are driving the growth of algae products market. However, factors such as complex production and low awareness about the benefits of algae are expected to hinder the growth of this market to some extent.
The study offers a comprehensive analysis of algae products market with respect to various product types and applications. The global algae products market is segmented on the basis of value (medium value, high value, and low value), product type (hydrocolloids, carotenoids, omega-3 PUFA, spirulina, chlorella, and others), and application (food and feed, nutraceutical, cosmetics, chemicals, and others).
Geographically, the market is segmented into five major geographies, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America dominated the global algae products market in 2016. The large share of North America is mainly attributed to the growing nutraceutical market. The growth of this industry is mainly due to various factors such as rising aging population, increasing healthcare awareness, and higher incidence of allergies and intolerance.
The key players operating in the global algae products market are DIC Corporation (Japan), Cellana Inc. (U.S.), Taiwan Chlorella Manufacturing Company (China), Algaetech International Sdn Bhd (Malaysia), Cyanotech Corporation (U.S.), Blue BioTech Int. GmbH (Germany), Algatechologies ltd. (Israel), Pond Technologies Inc. (Canada), E.I.D. - Parry (India) Limited (India), Tianjin Norland Biotech co., ltd., (China), AlgaeCan Biotech Ltd. (Canada), Corbion NV (The Netherlands), Qponics Limited (Australia), Royal DSM (The Netherlands), Heliae Development, LLC (U.S.), and Sun Chlorella Corporation (Japan).
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