NEW YORK, United States, May 12, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Microalgae Market By Type of Species (Aphanizomenon Flos-Aquae, Dunaliella, Chlorella, and Spirulina), By Application (Pharmaceutical, Cosmetic, Food/Feed, Dietary Supplements, and Others), and By Region-Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022-2028” in its research database.
“According to the latest research study, the demand of global Microalgae Market size & share was witnessed USD 10.2 billion in 2021and it is expected to surpass around USD 18.3 billion Mark, by 2028, at a compound annual growth rate (CAGR) of about 8.2% during the forecast period 2022 to 2028.”
What is Microalgae? How big is the Microalgae Industry?
Report Overview:
Microalgae are microscopic algae that cannot be seen with the naked eye. They are commonly found in freshwater and marine systems, where they live in both the water column and the sediment. They are unicellular species that can exist alone, in chains, or in groups. Microalgae are a rich source of protein, carbohydrates, enzymes, and other nutrients and are used in a variety of nutritional supplements and food items.
Furthermore, microalgae perform photosynthesis, producing a large amount of atmospheric oxygen and utilizing carbon dioxide to grow photoautotrophically.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 207+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 10.2 Billion |
| Projected Market Size in 2028 | USD 18.3 Billion |
| CAGR Growth Rate | 8.2% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Fuqing King Dnarmsa Spirulina Co.Ltd., Earthrise Nutritionals, LLC, E.I.D. - Parry Limited, Cyanotech Corporation, Dongtai City Spirulina Bio-Engineering Co. Ltd., Yunnan Green A Biological Project Co., Ltd., Jiangshan Comp Spirulina Co., Ltd., Inner Mongolia Rejuve Biotech Co., Ltd., Zhejiang Binmei Biotechnology Co., Ltd., Bluetec Naturals Co., Ltd., Taiwan Chlorella Manufacturing Company (TCMC), Sun Chlorella Corporation, Far East Microalgae Industries, Co., Ltd., Roquette Klötze GmbH & Co. KG, Gong Bih Enterprise Co., Ltd., Yaeyama Shokusan Co., Ltd., Vedan Biotechnology Corporation, AlgoSource, Tianjin Norland Biotech Co., Ltd, Phycom BV, Allmicroalgae Natural Products S.A., Duplaco B.V., Taiwan Wilson Enterprise Inc., Daesang Corporation, Algalimento S.L, Seagrass Tech Private Limited, Plankton Australia Pty Limited, Hangzhou OuQi Food Co., Ltd., and Shaanxi Rebecca Bio-Tech Co., Ltd., among others |
| Key Segment | By Type of Species, Application, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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Global Microalgae Market: Dynamics
- The growing nutraceuticals industry drives global microalgae market growth
The growing use of algae photobioreactors as a source of bulk proteins is expected to drive the global microalgae market growth. In comparison to other protein sources, these proteins play an important role in meeting global needs because they have countless beneficial properties. The most common algae photobioreactor species that can provide high-quality proteins are Arthrospira and chlorella. These species have amino acid compositions that are very similar to those found in traditional protein sources like soybeans and eggs.
Many well-known manufacturers are expected to conduct extensive research to improve the bioavailability of protein from whole microalgae by using pre-treatments that inhibit degradation by disrupting cell walls. In addition, unlike animal-based proteins, microalgae proteins require less land for development. The potential of marine microalgae to function as a gentle clarifying entity in shampoos while essentially eliminating excess sebum and styling product residue is expected to drive demand. It also aids in the prevention of hair loss by limiting the irritation caused by infections on the scalp. As pets become more humanized, there is a greater demand for nutritious foods from pet owners, propelling the use of algae photobioreactors in the pet food industry.
The demand for high-quality premium pet food is anticipated to rapidly increase sales. Algae photobioreactors contain high levels of vitamin E, C, and A, as well as beta-carotene, making them an excellent ingredient in pet food. Unlike regular pet foods on the market, it aids in increasing the pet's appetite and strengthening its immune system. However, the technical challenges of harvesting microalgae for feed and food on a large scale will limit the market growth. Another major impediment to market growth is the lack of commercialization of microalgae-based products.
Browse the full “Microalgae Market By Type of Species (Aphanizomenon Flos-Aquae, Dunaliella, Chlorella, and Spirulina), By Application (Pharmaceutical, Cosmetic, Food/Feed, Dietary Supplements, and Others), and By Region-Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022-2028” Report at https://www.fnfresearch.com/microalgae-market
Microalgae Market: COVID-19 Impact Analysis
The COVID-19 outbreak harmed many markets globally. Government tactics to battle the COVID-19 pandemic, such as statewide lockdowns and quarantines, have harmed many industries. The epidemic has hit most food and beverage producers hard. Many businesses closed owing to self-isolation, social alienation, and city-wide lockdowns.
The pandemic has hampered consumer food and beverage producers due to lower usage and supply chain disruptions. The food and beverage industry has suffered due to numerous country lockdowns. This situation has harmed the confectionery sector as customers are just buying necessities.
There are also several rules and regulations controlling the procurement of necessary items. The global supply chain for functional foods and supplements has been affected, reducing end-user consumption of microalgae biomass, hurting market growth.
Microalgae Market: Segmentation Analysis
The global microalgae market is segregated on the basis of the type of species, application, and region.
By type of species, the market is divided into Aphanizomenon flos-aquae, Dunaliella, chlorella, and spirulina. The most significant contributor to market growth is spirulina. Its ability to produce nutritional supplements with functional properties such as anti-oxidants, phycocyanins, phenolics, and anti-inflammation has contributed to its growth. Because of these properties, spirulina is an excellent ingredient for the production of nutritional supplements and edibles.
By application, the market is divided into pharmaceutical, cosmetic, food/feed, dietary supplements, and others. Dietary supplements have the largest share of these applications. This is due to the microalgae's high nutritional value, which includes protein, vitamins, and minerals. Because of the existence of these nutrients, microalgae are perfect for the production of pills, powders, and capsules. Furthermore, as a result of these factors, microalgae products have gained traction in the healthcare and nutrition industries.
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Competitive Landscape
Some of the main competitors dominating the global Microalgae market include -
- Fuqing King Dnarmsa Spirulina Co. Ltd.
- Earthrise Nutritionals LLC
- E.I.D. Parry Limited
- Cyanotech Corporation
- Dongtai City Spirulina Bio-Engineering Co. Ltd.
- Yunnan Green A Biological Project Co. Ltd.
- Jiangshan Comp Spirulina Co. Ltd.
- Inner Mongolia Rejuve Biotech Co. Ltd.
- Zhejiang Binmei Biotechnology Co. Ltd.
- Bluetec Naturals Co. Ltd.
- Taiwan Chlorella Manufacturing Company (TCMC)
- Sun Chlorella Corporation
- Far East Microalgae Industries Co. Ltd.
- Roquette Klötze GmbH & Co. KG
- Gong Bih Enterprise Co. Ltd.
- Yaeyama Shokusan Co. Ltd.
- Vedan Biotechnology Corporation
- AlgoSource
- Tianjin Norland Biotech Co. Ltd
- Phycom BV
- Allmicroalgae Natural Products S.A.
- Duplaco B.V.
- Taiwan Wilson Enterprise Inc.
- Daesang Corporation
- Algalimento S.L
- Seagrass Tech Private Limited
- Plankton Australia Pty Limited
- Hangzhou OuQi Food Co. Ltd.
- Shaanxi Rebecca Bio-Tech Co. Ltd.
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Microalgae market is estimated to grow annually at a CAGR of around 8.2%.
- The Microalgae market was valued at around US$ 10.2 billion in 2021 and is projected to reach USD$ 18.3 billion, by 2028.
- Based on type of species segment, the spirulina has contributed to its growth. Spirulina is a great element for nutritional supplements and consumables because of its unique qualities.
- By application, the Dietary supplements have the largest share.
- On the basis of region, the Europe dominated the global microalgae market.
Key questions answered in this report:
- What is the market size and growth rate forecast for Microalgae industry?
- What are the main driving factors propelling the Microalgae Market forward?
- What are the leading companies in the Microalgae Industry?
- What segments does the Microalgae Market cover?
- How can I receive a free copy of the Microalgae Market sample report and company profiles?
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Regional Dominance:
The European Union dominated the global microalgae market. The region possesses distinct structural, economic, and logistical assets that enable it to excel in microalgae research and applications. Microalgae are being marketed in Europe as a new source of useful nutrients for both animal and human consumption. European countries derived 12% of their transportation energy from renewable sources, primarily biofuels.
The region consumes a significant amount of fuel due to the high demand for luxury vehicles, motorcycles, and commercial trucks. As a result, countries such as Switzerland, Germany, and the Netherlands are expected to see an increase in demand for microalgae-based products.
Recent Developments
- January 2022: Yemoja Ltd., a startup company that develops advanced microalgae ingredients, announced plans to develop red microalgae for plant-based burgers and steaks. Ounje, the company's new brand, resembles the red juices of animal meat without using artificial colors. Apart from providing the preliminary red pigment to plant-based meats, the patented microalgal heme replaces congeals and browns like real meat juices when cooked.
- January 2022: Bharathidasan University in Tamil Nadu has signed agreements with ZIGMA Global Environ Solutions to launch a joint project worth Rs. 8 lakh on "microalgae-based bioremediation of municipal solid waste leachate." This project will use extremophilic microalgae to recover municipal solid waste leachate that otherwise seeps deep underground, contaminating groundwater and soil.
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The global microalgae market is segmented as follows:
By Type of Species
- Aphanizomenon Flos-Aquae
- Dunaliella
- Chlorella
- Spirulina
By Application
- Pharmaceutical
- Cosmetic
- Food/Feed
- Dietary Supplements
- Others
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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