Microalgae are microscopic, single-celled organisms that can grow in both fresh and saltwater. They are a rich source of nutrients, including protein, vitamins, minerals, and fatty acids. Microalgae are also a sustainable source of food and fuel, as they can be grown with minimal land and water resources. Microalgae are classified as photosynthetic organisms, which means that they use sunlight to convert carbon dioxide and water into oxygen and energy. This process is called photosynthesis. Microalgae can grow in a wide range of conditions, including in nutrient-poor environments. This makes them a potential source of food and fuel in areas where land and water resources are limited. Microalgae are also a good source of omega-3 fatty acids, which are essential for human health.
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The Global Microalgae Market is expected to reach USD 1,394.95 million by 2030 from USD 849.23 million in 2021, growing at a lucrative CAGR of 6.40% in the forecast period of 2023 to 2030. The global microalgae market is expected to grow significantly in the coming years. This growth is being driven by a number of factors, including the growing demand for sustainable and nutritious food and beverages, increasing awareness of the health benefits of microalgae, technological advancements in microalgae cultivation and processing, and government initiatives to promote the use of microalgae. Governments around the world are promoting the use of microalgae as a sustainable source of food and fuel. These initiatives are helping to raise awareness of microalgae and its potential benefits, which is also driving market growth.
Growing demand for sustainable and nutritious food and beverages is expected to drive the market's growth rate
Consumers are increasingly looking for food and beverages that are made with sustainable ingredients and that are good for their health. Microalgae are a good source of both sustainability and nutrition, making them a popular choice for food and beverage manufacturers. Microalgae are a good source of protein, vitamins, minerals, and fatty acids. These nutrients can help to improve health in a number of ways, including by boosting the immune system, improving heart health, and reducing the risk of cancer. Technological advancements have made it possible to cultivate and process microalgae more efficiently and cost-effectively. This has made microalgae more accessible and affordable, which has helped to drive market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015- 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Chlaspirulina, Chlorella, Haematococcus Pluvialis, Dunaliella Salina, Isochrysis, Phaeodactylum Tricornutum, Chlamydomonas Cruentum, Nannochloropsis And Others), Category (Organic And Inorganic), Form (Powder/Dry And Liquid), Grade (Food Grade, Feed Grade, Fuel Grade, Cosmetic Grade and Others), Application (Food & Beverage, Dietary Supplements, Pharmaceuticals, Cosmetics & Personal Care, Bio-Fuel, Inks, Animal Feed and Others), Distribution Channel (Indirect and Direct)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Cellana Inc. (Sweden), DSM (Netherlands), BIOPROCESS ALGAE, LLC. (U.S.), Algarithm (India), Cyanotech Corporation (U.S.), Henry Lamotte Oils GmbH (Germany), Australian Spirulina (Australia), Algatech LTD (Israel), Lyxia (U.S.), BASF SE (Germany), Corbion (Netherlands), E.I.D. - Parry Limited (India), Kuehnle AgroSystems Inc. (U.S.), ALGISYS LLC (U.S.), Euglena Co., Ltd. (Japan), Heliae Development, LLC (U.S.), AlgaEnergy (Spain), ALGENOL (U.S.) and AstaReal AB (Sweden)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The microalgae market is categorized into six notable segments based on the product type, category, form, grade, application, and distribution channel.
- On the basis of product type, the microalgae market is segmented into chlamydomonas, reinhardtii, dunaliella salina, haematococcus pluvialis, isochrysis, nannochloropsis, phaeodactylum tricornutum, porphyridium cruentum, chlorella, spirulina, and others. Spirulina segment is expected to dominate the market with a 26.91% market share due to higher production rates and consumption demand. Moreover, spirulina is the most widely cultivated microalgae and have numerous potential uses in the field of cosmetic, food, ink, and others.
- On the basis of category, the microalgae market is segmented into organic and inorganic. Organic segment is expected to dominate with a 63.05% market share due to the availability of organic nutrients for microalgae growth and the less complexity associated with conventional microalgae production.
- On the basis of form, the microalgae market is segmented into powder/dry and liquid. Powder/dry segment is expected to dominate the market with a 71.09% market share as the ease of getting nutritional benefits from powder/dry form of microalgae.
- On the basis of grade, the microalgae market is segmented into food grade, feed grade, fuel grade, cosmetic grade, and others. Food grade segment is expected to dominate the market with 47.13% market share due to increasing awareness among consumers about the health benefits of microalgae products.
- On the basis of application, the microalgae market is segmented into food & beverage, dietary supplements, pharmaceuticals, cosmetics & personal care, bio-fuel, inks, animal feed, and others. Dietary supplements segment is expected to dominate the market with a 26.13% % market share because now a days increase in infectious diseases people are more concerned about their diet and to maintain the immune system strong to fight against various diseases. Therefore, these products are highly manufactured from microalgal components and fulfil the required nutrient level in end products.
The dietary supplements segment will dominate the application segment of the microalgae market
The dietary supplements segment will emerge as the dominating segment application segment. This is because of the growing demand for dietary supplements in the market especially in developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
- On the basis of distribution channel, the microalgae market is segmented into direct and indirect. Direct segment is expected to dominate the market with a 66.41% market share as it provides high-quality microalgae products at an efficient cost.
The direct segment will dominate the distribution channel segment of the microalgae market
The direct segment will emerge as the dominating segment under distribution channel. This is because of the growing number of infrastructural development activities in the market especially in developing economies. Further, growth and expansion of the healthcare industry all around the globe will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Cellana Inc. (Sweden), DSM (Netherlands), BIOPROCESS ALGAE, LLC. (U.S.), Algarithm (India), Cyanotech Corporation (U.S.), Henry Lamotte Oils GmbH (Germany), Australian Spirulina (Australia), Algatech LTD (Israel), Lyxia (U.S.), BASF SE (Germany), Corbion (Netherlands), E.I.D. - Parry Limited (India), Kuehnle AgroSystems Inc. (U.S.), ALGISYS LLC (U.S.), Euglena Co., Ltd. (Japan), Heliae Development, LLC (U.S.), AlgaEnergy (Spain), ALGENOL (U.S.) and AstaReal AB (Sweden).
Market Development
- In 2022, Solabia-Algatech Nutrition, a leading supplier of natural ingredients, launched BioGlena, a 100% natural beta-glucan ingredient from whole Euglena gracilis microalgae. Beta-glucans are a type of soluble fiber that have been shown to have a number of health benefits, including supporting the immune system, reducing inflammation, and improving cholesterol levels. BioGlena is a high-purity beta-glucan ingredient that is also vegan and gluten-free. The launch of BioGlena is a significant milestone for Solabia-Algatech Nutrition, as it expands their product portfolio and positions them as a leading supplier of natural ingredients for the health and wellness market.
- In 2021, Algarithm, a leading supplier of microalgae-based ingredients, launched Aenova VegaGels, a new line of soft gel capsules that are loaded with omega-3 DHA fatty acids from microalgae. DHA is an essential fatty acid that is important for brain health, heart health, and eye health. Aenova VegaGels are a vegan and gluten-free alternative to fish oil capsules. The launch of Aenova VegaGels is a significant milestone for Algarithm, as it expands their product portfolio and positions them as a leading supplier of omega-3 DHA ingredients for the dietary supplement market.
- In 2020, Cyanotech Corporation, a leading producer of microalgae-based ingredients, launched BioAstin, a natural astaxanthin ingredient from Haematococcus pluvialis microalgae. Astaxanthin is a powerful antioxidant that has been shown to have a number of health benefits, including improving skin health, reducing inflammation, and protecting against cancer. BioAstin is a high-purity astaxanthin ingredient that is also vegan and gluten-free. The launch of BioAstin is a significant milestone for Cyanotech Corporation, as it expands their product portfolio and positions them as a leading supplier of astaxanthin ingredients for the dietary supplement market.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the microalgae market during the forecast period 2023-2030
North America is the dominating region in the global microalgae market. The United States is the largest market in this region, followed by Canada. The growth of the microalgae market in North America is attributed to the increasing demand for sustainable food and fuel sources, as well as the growing research and development activities in the region.
Asia-Pacific is estimated to be the fastest growing region in the microalgae market in the forecast period 2023-2030
Asia-Pacific is the fastest-growing market for microalgae. China, India, and Japan are the leading markets in this region. The growth of the microalgae market in Asia-Pacific is attributed to the increasing population, growing demand for food and fuel, and government support for the development of sustainable technologies.
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