Algae Market by Type (Macroalgae/Seaweed {Red, Brown}, Microalgae {Spirulina, Chlorella, D. Salina}), Distribution Channel (B2B, B2C), Form (Dry, Liquid), Application (Nutraceuticals, Food & Beverages, Animal Feed, Cosmetics)

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Algae Market by Type (Macroalgae/Seaweed {Red, Brown}, Microalgae {Spirulina, Chlorella, D. Salina}), Distribution Channel (B2B, B2C), Form (Dry, Liquid), Application (Nutraceuticals, Food & Beverages, Animal Feed, Cosmetics)-Global Forecast to 2030

According to the research report titled, 'Algae Market by Type (Macroalgae/Seaweed {Red, Brown}, Microalgae {Spirulina, Chlorella, D. Salina}), Distribution Channel (B2B, B2C), Form (Dry, Liquid), Application (Nutraceuticals, Food & Beverages, Animal Feed, Cosmetics)-Global Forecast to 2030, 'the algae market is projected to reach $29.8 billion by 2030, at a CAGR of 9.3% during the forecast period of 2023 to 2030. The report provides an in-depth analysis of the vegan food market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecast till 2030.

Succeeding extensive secondary and primary research, and an in-depth analysis of the market scenario, the report analyzes the impact of the key industry drivers, restraints, opportunities, and trends. The growth of the algae market is driven by the inclination towards health & wellness trends, the growth of dietary supplements industry, growing demand for natural food colors, rising vegetarianism, growing nutraceutical industry, increasing preference for algae-sourced products, and growing government initiatives to boost seaweed cultivation. However, low awareness about the benefits of algae and the complex production process of algae products may restrain market growth.

Moreover, growing demand for phycocyanin and for algae from bio-refineries are expected to create market growth opportunities. However, the risk of contamination poses a significant challenge to the market's growth.

The key players operating in the algae market are Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Earthrise Nutritionals, LLC (U.S.), E.I.D. - Parry (India) Limited, Cyanotech Corporation (U.S.), SeaWeed & Co. (U.K.), Green Rise Agro Industries (India), Ocean Rainforest Sp/F (ORF) (Denmark), Inner Mongolia Rejuve Biotech Co.,Ltd. (China), Zhejiang Binmei Biotechnology Co., Ltd. (China), Bluetec Naturals Co., Ltd. (China), Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan), Sun Chlorella Corporation (Japan), Far East Algae Industries, Co., Ltd. (Taiwan), Roquette Klotze GmbH & Co. KG (Germany), Gong Bih Enterprise Co., Ltd. (Taiwan), Yaeyama Shokusan Co., Ltd. (Japan), Vedan Biotechnology Corporation (Taiwan), AlgoSource (France), Tianjin Norland Biotech Co., Ltd (China), Phycom B.V. (the Netherlands), AllAlgae Natural Products S.A. (Portugal), Duplaco B.V. (the Netherlands), Taiwan Wilson Enterprise Inc. (Taiwan), Daesang Corporation (Korea), and Algalimento S.L. (Spain).

Based on type, the algae market is segmented into macroalgae and microalgae. The microalgae segment is expected to grow at the fastest CAGR during the forecast period from 2023 to 2030, owing to the rising health & wellness trends and dietary supplements industry, growing demand for natural food colors, increasing vegetarianism, stringent regulations regarding the inclusion of synthetic colors and flavors, increasing preference for spirulina-sourced products, especially Omega-3 fatty acids, growing use of microalgae in aquaculture, rising investments from leading color houses in microalgae, and an increasing number of products that include spirulina as an ingredient.

Based on distribution channel, the algae market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2023, the B2B distribution channel segment is expected to account for the larger share of the global algae market. The large share of this segment is attributed to the direct bulk purchasing of algae by manufacturers from various industries, such as nutraceuticals, food & beverage, and animal feed for further product development.

Based on form, the algae market is segmented into dry and liquid forms. The dry form segment is expected to account for the larger share of the algae market in 2023. The dry form segment is also expected to record the highest CAGR during the forecast period from 2023 to 2030, driven by increasing demand for algae powder in the food and cosmetics industries. Furthermore, its numerous advantages, including a relatively long shelf life and ease of transport and storage, are anticipated to further bolster market growth.

Based on application, the algae market is mainly divided into food & beverage, nutraceuticals, cosmetics, animal feed, and others. In 2023, the food & beverage segment is expected to account for the largest share of the global algae market. The large share of this segment is attributed to the growing demand for organic food products, the increase in consumption of plant proteins & vegan products, and the increasing utilization of algae for human consumption. Moreover, rapid population growth, increasing awareness of algae's health benefits, changes in lifestyle patterns, taste preferences among consumers, healthy eating habits, and rising disposable income are further expected to support the growth of this market.

An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights for the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa), and the coverage of major countries in each region. North America is expected to witness significant growth during the forecast period 2023-2030, due to the rising consumption of health supplements, strict regulations against the use of synthetic colors, growth of subsidiary industries like cosmetics and biofertilizers, increasing preference for natural protein sources, and presence of key algae biomass manufacturers with huge production capacities, especially in the U.S. Additionally, growing adoption of algae, especially spirulina and chlorella in the manufacturing of therapeutic & nutritional products, rising demand for natural blue colorants, and investments from leading color stakeholders in the phycocyanin space further support the growth of this market during the forecast period from 2023 to 2030.

Key Questions Answered in the Report-

What is the current revenue generated by the algae market globally?
At what rate is the algae demand projected to grow for the next 5-7 years?
What are the historical market sizes and growth rates of the algae market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments, in terms of type, distribution channel, form, and application, are expected to create traction for the manufacturers in this market during the forecast period 2023-2030?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the algae market?
Who are the major players in the algae market? What are their specific product offerings in this market?
What are the recent strategic developments in the algae market? What are the impacts of these strategic developments on the market?

Scope of the Report:

Global Algae Market Assessment - by Type

Macroalgae/Seaweed
Red Algae
Brown Algae
Green Algae
Microalgae
Spirulina
Chlorella
Dunaliella salina
Haematococcus pluvialis
Other

Global Algae Market Assessment - by Distribution Channel

Business-to-Business (B2B)
Business-to-Consumer (B2C)

Global Algae Market Assessment-by Form

Dry Form
Algae Powder
Algae Flakes
Other Dried Forms
Liquid Form

Global Algae Market Assessment-by Application

Nutraceuticals
Food & Beverages
Animal Feed
Cosmetics
Other

Global Algae Market Assessment-by Geography

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific (RoAPAC)
Latin America
Brazil
Mexico
Rest of Latin America (RoLATAM)
Middle East & Africa

Product Code: MRFB - 104740

1. Introduction

1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Process
2.2. Data Collection & Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research
2.3. Market assessment
- 2.3.1. Market Size Estimation
  - 2.3.1.1. Bottom-Up Approach
  - 2.3.1.2. Top-Down Approach
  - 2.3.1.3. Growth forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study

3. Executive Summary

3.1. Introduction
3.2. Segment Analysis
- 3.2.1. Algae Market, Type Segment Analysis
- 3.2.2. Algae Market, Distribution Channel Segment Analysis
- 3.2.3. Algae Market, Form Segment Analysis
- 3.2.4. Algae Market, Application Segment Analysis
- 3.2.5. Algae Market, Regional Analysis
- 3.2.6. Key Players

4. Market Insights

4.1. Introduction
4.2. Drivers
- 4.2.1. Inclination Towards Health & Wellness Trends and Growing Dietary Supplements Industry
- 4.2.2. Growing Demand for Natural Food Colors
- 4.2.3. Growing Vegetarianism
- 4.2.4. Growing Nutraceuticals Industry
- 4.2.5. Increasing Preference for Algae-sourced Products
4.3. Restraints
- 4.3.1. Low Awareness of the Benefits of Algae
- 4.3.2. Complex Production of Algae Products
4.4. Challenge
- 4.4.1. Risk of Contamination
4.5. Opportunities
- 4.5.1. Growing Demand for Phycocyanin
- 4.5.2. Growing Demand for Algae from Bio-refineries
4.6. Trends
- 4.6.1. Adoption of New Production Technologies (Photobioreactors)

5. Impact of Covid-19 on the Algae Market

6. Global Algae Market, by Type

6.1. Introduction
6.2. Macroalgae/Seaweed
- 6.2.1. Red Algae
- 6.2.2. Brown Algae
- 6.2.3. Green Algae
6.3. Microalgae
- 6.3.1. Spirulina
- 6.3.2. Chlorella
- 6.3.3. Dunaliella Salina
- 6.3.4. Haematococcus Pluvialis
- 6.3.5. Other Microalgae

7. Global Algae Market, by Distribution Channel

7.1. Introduction
7.2. Business-to-Business (B2B)
7.3. Business-to-Consumer (B2C)

8. Global Algae Market, by Form

8.1. Introduction
8.2. Dry Form
- 8.2.1. Algae Powder
- 8.2.2. Algae Flakes
- 8.2.3. Other Dried Forms
8.3. Liquid Form

9. Global Algae Market, by Application

9.1. Introduction
9.2. Nutraceuticals
9.3. Food and Beverages
9.4. Animal Feed
9.5. Cosmetics
9.6. Other Applications

10. Algae Market, by Geography

10.1. Introduction
10.2. North America
- 10.2.1. U.S.
- 10.2.2. Canada
10.3. Europe
- 10.3.1. Germany
- 10.3.2. France
- 10.3.3. U.K.
- 10.3.4. Italy
- 10.3.5. Spain
- 10.3.6. Rest of Europe (RoE)
10.4. Asia-Pacific
- 10.4.1. China
- 10.4.2. India
- 10.4.3. Japan
- 10.4.4. Australia
- 10.4.5. Rest of Asia-Pacific (RoAPAC)
10.5. Latin America
- 10.5.1. Brazil
- 10.5.2. Mexico
- 10.5.3. Rest of Latin America (RoLATAM)
10.6. Middle East and Africa

11. Competitive Landscape

11.1. Introduction
11.2. Key Growth Strategies
11.3. Competitive Benchmarking

12. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)

12.1. Fuqing King Dnarmsa Spirulina Co.Ltd.
12.2. Earthrise Nutritionals, LLC
12.3. E.I.D. - Parry (India) Limited
12.4. Cyanotech Corporation
12.5. Seaweed & Co.
12.6. Green Rise Agro Industries
12.7. Ocean Rainforest Sp/F
12.8. Inner Mongolia Rejuve Biotech Co., Ltd.
12.9. Zhejiang Binmei Biotechnology Co., Ltd.
12.10. Bluetec Naturals Co., Ltd.
12.11. Taiwan Chlorella Manufacturing Company (TCMC)
12.12. Sun Chlorella Corporation
12.13. Far East Algae Industries, Co., Ltd.
12.14. Roquette Klotze GmbH & Co. KG
12.15. Gong Bih Enterprise Co., Ltd.
12.16. Yaeyama Shokusan Co., Ltd.
12.17. Vedan Biotechnology Corporation
12.18. AlgoSource
12.19. Tianjin Norland Biotech Co., Ltd
12.20. Phycom BV
12.21. AllAlgae Natural Products S.A.
12.22. Duplaco B.V.
12.23. Taiwan Wilson Enterprise Inc.
12.24. Daesang Corporation
12.25. Algalimento S.L

13. Appendix

13.1. Questionnaire
13.2. Available Customization