The global microalgae market is experiencing strong growth, driven by rising demand for sustainable and nutrient-rich food sources, increasing applications in pharmaceuticals, cosmetics, and biofuels, and advancements in cultivation technologies. Microalgae are gaining traction due to their high protein content, omega-3 fatty acids, and potential as a sustainable alternative to conventional resources. The market is further supported by growing consumer awareness of health and wellness trends, government initiatives promoting algae-based products, and expanding research into algae-derived bioactive compounds. However, challenges such as high production costs, complex harvesting processes, and scalability issues could impact market growth.
Global Microalgae Market is valued at 9,819.75 million in 2022 and is expected to reach USD 1.39 billion by 2030, with a growing CAGR of 6.4% during the forecast period 2023 to 2030.
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Below are the Top Microalgae Companies with a Significant Market Share:
|
Rank |
Company |
Overview |
Product Portfolio |
Sales Geographical Coverage |
Developments |
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1. |
Euglena Co. Ltd. |
Euglena Co., Ltd. is a biotechnology company that focuses on the research, development, and commercialization of products derived from the microalga Euglena. The company offers a range of food products and cosmetics enriched with Euglena, aiming to leverage its nutritional benefits. |
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Asia |
In November 2022, Euglena Co., Ltd. announced the trial production of next-generation biodiesel fuel using 100% euglena-derived raw material .isuzu conducts a performance demonstration test. The development will boost the company's sales and allow it to generate more revenue. |
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2. |
DIC CORPORATION |
DIC Corporation is a diversified company with a significant presence in the microalgae sector. The company has over 40 years of experience in cultivating blue-green algae and has developed products like DHA ORIGINS™-510, a microalgae-derived oil rich in DHA, intended for use as a health food ingredient. |
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North America, Asia-Pacific, and Europe |
In September 2021, DIC Corporation reported that it would make a natural venture of roughly ¥1.2 billion (US$9.0 million) at auxiliaries Earthrise Nutritionals, LLC, in the U.S. province of California, and Hainan DIC Microalgae Co., Ltd., in Individuals' Republic of China (PRC), the two of which produce eatable blue-green growth Spirulina and Spirulina-determined normal blue food shading LINABLUE. |
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3. |
DSM |
DSM-Firmenich is a global leader in health, nutrition, and bioscience, with a focus on sustainable solutions. The company has developed algal-based omega-3 products, such as life's® Omega, which provide a sustainable alternative to fish-derived omega-3s. This innovation stems from research initially conducted by NASA, aiming to utilize algae for food and oxygen production in space. |
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North America, Latin America, Middle East and Africa, Asia-Pacific, and Europe |
In September 2021, DSM, a science-based organization, declared the fulfillment of its procurement of Best option Elements for a venture worth US$453 million. The securing of Best option Fixings, the main provider of dairy-based exquisite flavorings. |
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4. |
Cyantotech Corporation |
Cyanotech Corporation is an agricultural company specializing in the production of natural products derived from microalgae. The company offers BioAstin® Hawaiian Astaxanthin and Hawaiian Spirulina Pacifica, both recognized for their health benefits. Cyanotech operates a 90-acre cultivation site in Kailua-Kona, Hawaii, emphasizing sustainable and environmentally sensitive production methods. |
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North America, Asia-Pacific, and Europe |
In October 2020, Cyanotech Corporation launched BioAstin derived for microalgae. The product launched efficiently treats cardiovascular, immune, skin, eye, and joint health and offers recovery from exercise. The purity of the product eliminates the need for synthetic encapsulation material. |
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5. |
Corbion |
Corbion is a global company specializing in lactic acid, food preservation solutions, and algae ingredients. Leveraging algae fermentation technology, Corbion produces sustainable products like AlgaPrime DHA, an omega-3-rich ingredient used in aquaculture and animal nutrition. The company's innovations aim to reduce reliance on marine resources and promote environmental sustainability. |
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North America, South America, Middle East and Africa, Asia, Europe, Australia and Oceania |
In October 2020, Corbion expanded the adoption of AlgaPrime DHA in collaboration with the Thai Union. AlgaPrime DHA is an omega-3-rich algal feed ingredient derived from microalgae. As per the partnership, the company will provide AlgaPrime DHA to the Thai Union to feed of large-scale fish population. |
Conclusion
The global microalgae market is poised for substantial expansion as industries increasingly recognize its potential in food, health, and renewable energy sectors. Ongoing research, technological advancements, and supportive regulatory frameworks are expected to enhance production efficiency and commercial viability. While cost and scalability remain challenges, the market is likely to benefit from increased investments and strategic partnerships. With growing consumer demand for plant-based and sustainable alternatives, key industry players are positioned to drive innovation and market growth in the coming years.
