A Rise in Awareness Among Consumers About the Wide Health Benefits of Microalgae Products Drives the Growth of the Microalgae Market

Microalgae cultivation is done on a large scale to produce high-quality dietary products. Microalgae are exploited for their high protein content, which has fulfilled the unmet diet demand of the growing population. Along with dietary components, microalgae comprise several other bio-active components with anti-oxidative, anti-carcinogenic, and anti-hypertensive properties. Microalgae have been utilized for thousands of years due to their high dietary content. As new microalgae-containing products are launching, several market players are adopting initiatives to create awareness among consumers toward their innovative brands. This results in boosted product sales, positively impacting the microalgae market growth

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The increasing trend of plant-based food and rising health-related issues have increased the chances of microalgae-based products to dominate the market with its nutrition-rich products serving consumers' demand in various domains of life ranging from human food to animal feed and nutrition biofuel. Thus, the increasing awareness among consumers about the health benefits of algae products drives the growth of the Middle East and Africa microalgae market.

Data Bridge Market Research analyses that the Middle East and Africa Microalgae Market is expected to grow at a CAGR of 4.6% from 2023 to 2030 and is expected to reach USD 36.80 million by 2030. The rise in awareness regarding the health benefits of microalgae is expected to propel the market's growth.

Key Findings of the Study

DEVELOPMENT OF NEW INNOVATION AND TECHNOLOGY FOR MICROALGAE PRODUCTS

Microalgae growth and its content extraction are crucial processes in dilute state cultivation. Microalgae cultivation poses several challenges because of its small size. Growing for economic purposes and processing it into biofuels becomes quite problematic. The major problems associated with microalgae production are strain selection, strain improvement, the inefficient quantity of sunlight present while microalgae are culturing in ponds, enhanced need to remove large water volumes to obtain concentrates. These obstacles demand the appropriate technological advancements and scientific innovation for producing microalgae and its conversion to required products. As the market players are using technologically advanced cultural methods and innovative technologies for the production formation of microalgae, it is boosting the microalgae market growth.

Report Scope and Market Segmentation

Segment Analysis:

The microalgae market is segmented by type, category, form, grade, application, and distribution channel.

• On the basis of type, the Middle East and Africa microalgae market is segmented into chlamydomonas, reinhardtii, dunaliella salina, haematococcus pluvialis, isochrysis, nannochloropsis, phaeodactylum tricornutum, porphyridium cruentum, chlorella, spirulina, and others.

In 2023, the spirulina segment is anticipated to dominate the microalgae market.

In 2023, the spirulina segment of this market will dominate the microalgae market owing to the increasing utilization in different industries such as food, feed additves, cosmetics, and pharmaceutical. The spirulina segment is expected to reach the highest CAGR of 5.2% in the 2023-2030.

• On the basis of category, the microalgae market is segmented into organic and inorganic. In 2023, the inorganic segment is expected to dominate the Middle East and Africa microalgae market 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. In 2023, powder/dry is expected to dominate the market 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, cosmetics grade, and others. In 2023, the food grade segment is expected to dominate the Middle East and Africa microalgae market due to increasing consumer awareness 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. In 2023, dietary supplements are expected to dominate the market because now a day’s 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 fulfill the required nutrient level in end products.
• On the basis of distribution channel, the Middle East and Africa microalgae market is segmented into indirect and direct. In 2023, the direct segment is expected to dominate the Middle East and Africa microalgae market as it provides high-quality microalgae products at an efficient cost.

In 2023, the dietary supplements segment is projected to hold the largest share of application segment in the microalgae market.

In 2023, the dietary supplements segment holds maximum market share due to the higher nutritional value of microalgae derivatives. The dietary supplements segment is growing with a CAGR of 5.6% from 2023 to 2030.

Major Players

Data Bridge Market Research recognizes the following companies as the major microalgae market players in Microalgae market are Cellana Inc (U.S.). (, DSM (Netherlands), Cyanotech Corporation (U.S.), Corbion (Netherlands), ALGATECH LTD (U.S.), AlgaEnergy (Spain), AlgaHealth (Israel), BarAlgae (Israel), Desert Microalgae Technologies (Saudi Arabia), Yemoja (Israel), Henry Lamotte Oils GmbH (Germany), Algarithm (Canada), and ALGAIA (France), among others.

Market Developments

• In November 2022, ALGAIA co-signs the declaration of the players supporting ocean biodiversity. Ahead of the UN Biodiversity Conference (COP 15) in Montreal in December and line with strategy, Algaia has signed the declaration of the Ocean players, an initiative by the Middle East and Africa Partnership for Business and Biodiversity supported by Respect Ocean. This collaboration would help the company in the business expansion.
• In August 2022, Henry Lamotte Oils GmbH have successfully passed the Rainforest Alliance Audit. This certified products would help the company in the products recognition.
• In September 2021, Algarithm signed the collaboration with the  VegaGels®, the Aenova Group, a Middle East and Africa leading contract manufacturer and developer for the pharmaceutical and health care industries. This collaboration would help the company in business expansion.
• In June 2020, Marine ingredients start-up Yemoja has opened a new microalgae production plant to meet the growing demand for its ingredients from the nutraceutical and cosmeceutical sectors. This production site opening has helped the company in the business expansion.

Regional Analysis

Geographically, the countries covered in the microalgae market report are Saudi Arabia, South Africa, UAE, Kuwait and Rest of Middle East and Africa.

As per Data Bridge Market Research analysis:

South Africa is the dominant region in microalgae market during the forecast period 2023 - 2030

Inn 2023, South Africa segment is expected to dominate the Middle East and Africa Microalgae market with a 37.79% market share. This is due to increasing R&D activities related to microalage and the number of commercial production sites.

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