Algae Meal Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Algae Meal Market was valued at approximately USD 7.4 billion in 2023 and is expected to reach an impressive USD 12.7 billion by 2032.

Driving this market's growth is a pronounced shift towards plant-based protein sources. Algae's rising prominence can be attributed to its adoption in animal feed, human nutrition, and sustainable products. Moreover, advancements in algae cultivation techniques and a broader product range significantly influence this market trajectory. The expansion is further bolstered by a growing awareness of its environmental advantages. With a notably low carbon footprint and minimal water requirements, algae are increasingly being recognized as a sustainable alternative by both consumers and industries.

The algae meal industry is segmented based on source, grade, application, and region.

Market segmentation by source includes red algae, green algae, brown algae, and others. Leading the charge in 2023, red algae commanded a notable value of USD 2.6 billion, with projections set at USD 4.3 billion by 2032. This surge is largely attributed to red algae's superior nutritional profile and its diverse applications spanning food, pharmaceuticals, and biotechnology. The preference for red algae is underscored by its rich beneficial compounds, making it a sought-after choice across various sectors. Meanwhile, brown algae and other variants are witnessing a more tempered growth, underscoring red algae's pre-eminence in the market.

Market segmentation by grade includes food, feed, and fuel. Dominating the landscape, the feed grade accounted for approximately 58% of the market share in 2023 and is poised for robust growth by 2032. The algae meal market's feed segment has emerged as a powerhouse, showcasing remarkable growth. This surge can be linked to the escalating demand for sustainable, nutrient-rich ingredients in food products, underscoring the algae meal's pivotal role and dominance in the market.

In 2023, North America emerged as the front-runner in the algae meal market, raking in a revenue of USD 2.3 billion, with forecasts suggesting a climb to USD 3.8 billion by 2032. North America's leadership in the algal meal market is attributed to its cutting-edge technological landscape, robust R&D capabilities, and mature agricultural sector. The region's commitment to sustainability and innovation propels the adoption of algae-based solutions, championing them as eco-friendly and nutritious choices for animal feed.

Product Code: 6905

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Key manufacturers
- 3.1.2 Distributors
- 3.1.3 Profit margins across the industry
3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.2 Market challenges
- 3.2.3 Market opportunity
  - 3.2.3.1 New opportunities
  - 3.2.3.2 Growth potential analysis
3.3 Raw material landscape
- 3.3.1 Manufacturing trends
- 3.3.2 Technology evolution
  - 3.3.2.1 Sustainable manufacturing
    - 3.3.2.1.1 Green practices
    - 3.3.2.1.2 Decarbonization
- 3.3.3 Sustainability in raw materials
- 3.3.4 Raw material pricing trends (USD/Ton)
  - 3.3.4.1 North America
  - 3.3.4.2 Europe
  - 3.3.4.3 Asia Pacific
  - 3.3.4.4 Latin America
  - 3.3.4.5 MEA
3.4 Regulations and market impact
3.5 Porter's analysis
3.6 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Algae Meal Market Size and Forecast, By Source 2021 - 2032

5.1 Red algae
5.2 Green algae
5.3 Brown algae
5.4 Others

Chapter 6 Algae Meal Market Size and Forecast, By Grade 2021 - 2032

6.1 Food
6.2 Feed
6.3 Fuel

Chapter 7 Algae Meal Market Size and Forecast, By Application 2021 - 2032

7.1 Food and beverages
- 7.1.1 Snacks
- 7.1.2 Bakery and confectionery
- 7.1.3 Others
7.2 Nutraceuticals
7.3 Livestock
7.4 Poultry
- 7.4.1 Broiler
- 7.4.2 Layer
- 7.4.3 Turkey
- 7.4.4 Others
7.5 Swine
- 7.5.1 Starter
- 7.5.2 Grower
- 7.5.3 Sow
7.6 Cattle
- 7.6.1 Dairy
- 7.6.2 Calf
7.7 Aquaculture
- 7.7.1 Salmon
- 7.7.2 Trout
- 7.7.3 Shrimp
- 7.7.4 Carp
7.8 Pet Food
7.9 Dogs
- 7.9.1 Cats
- 7.9.2 Birds
- 7.9.3 Fish
7.10 Biofuel
7.11 Others

Chapter 8 Algae Meal Market Size and Forecast, By Region 2021 - 2032

8.1 Key trends
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Rest of Europe
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 Australia
- 8.4.6 Rest of Asia Pacific
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Rest of Latin America
8.6 MEA
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 South Africa
- 8.6.4 Rest of MEA

Chapter 9 Company Profiles

9.1 Corbion
9.2 DSM Nutritional Products
9.3 Cellana Inc.
9.4 Corbion N.V.
9.5 Archer Daniels Midland Company
9.6 AlgaEnergy S.A.
9.7 Cyanotech Corporation
9.8 Roquette Freres
9.9 Allmicroalgae - Natural Products S.A.
9.10 DIC Corporation
9.11 E.I.D. - Parry (India) Limited (Subsidiary of Murugappa Group)
9.12 Corbion Biotech Inc.
9.13 FUJIFILM Wako Pure Chemical Corporation
9.14 BlueBioTech International GmbH