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According to the latest research, the global Algae Products market size was valued at USD 4361.97 million in 2022 and is expected to expand at a CAGR of 8.4% during the forecast period, reaching USD 7078.6 million by 2028.
Algae products are products made with algae as the main raw material, with or without auxiliary materials, and processed by corresponding processes. Algae is rich in antioxidants and carotenoids, so it is very useful in nutraceuticals and dietary supplements. It is also widely used in food, chemicals, animal feed and other fields. Algae can be made into powders and liquids. In addition, algae can have high biofuel production.
Resumption of work and production is affected by epidemic prevention and control
The report delivers insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. Should COVID-19 outbreaks persist, should restrictions on movement be extended or reintroduced, or should disruptions to economic activity be prolonged, the recession could be deeper. Businesses might find it hard to service debt, heightened risk aversion could lead to climbing borrowing costs, and bankruptcies and defaults could result in financial crises in many countries.
However, resumption of work and production is affected by epidemic prevention and control. In the face of this disquieting outlook, the immediate priority for policymakers is to address the health crisis and contain the short-term economic damage. Over the longer term, authorities need to undertake comprehensive reform programs to improve the fundamental drivers of economic growth once the crisis lifts. Global coordination and cooperation—of the measures needed to slow the spread of the pandemic, and of the economic actions needed to alleviate the economic damage, including international support—provide the greatest chance of achieving public health goals and enabling a robust global recovery.
Changes in lifestyle of the people
Consumption of healthy food products and dietary supplement, due to changes in lifestyle of the people has changed the perspective of this market. The global algae products market is estimated to grow, due to increase in demand for natural products and proactive efforts by market players to formulate algae based consumable products to satisfy quality, texture, and nutritional demand of consumers. Earlier, algae were not considered for production of bio fuel as cost of production was high, however with recent development in process technology and feasibility of process algae bio fuel can be used as an alternative to fossil fuel. In addition, rising in global population and increase in demand for food, customization of functional food product portfolio by manufacturers and untapped markets of developing nations are the major growth opportunities for algae products market during the forecast period.
High production costs restrict the entry of smaller players
Though there is an increase in the adoption of newer technologies to produce low-cost algae. With the increase in focus on R&D activities and overall costs, leading players such as ADM (US) account for a high share in the market. The production is usually expensive and consists of extraction, concentration, and purification processes. Following extraction and purification, algae must be formulated for further application. This formulation will also depend on the intended use. The formulation involves complicated processes, due to complicated procedure and various formulation the production cost increases and restrict the local and regional players in the algae products market.
Rising in global food demand and decrease in cultivable land available for food production
In addition, rise in global food demand and decrease in cultivable land available for food production attract various manufactures to shift their preference to algae-based products, which help propel the algae products market growth. Furthermore, initiative by various developing and developed countries at Paris Agreement to reduce the global carbon footprint by using renewable source of energy such as algae-based biofuel, is expected to further drive the growth of the algae products market.
Region Overview:
In 2022, the share of the Algae Products market in Europe stood at 40.12%.
Company Overview:
Dupont is one of the major players operating in the Algae Products market, holding a share of 3.77% in 2023.
Dupont
DuPont is one of the largest conglomerates in the United States. The company is headquartered in Wilmington, Delaware, United States. DuPont is engaged in the sector of roofing, adhesives, advanced printing solutions, construction materials, home gardens, electronic solutions, car care, fabrics, and more. The company is a market leader in the chemical business.
KIMICA Corporation
KIMICA Corporation is a manufacturer and worldwide supplier of alginate, a natural polysaccharide extracted from seaweed.
Segmentation Overview:
Among different product types, Solid segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Health Product segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Algae Products industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Algae Products. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Algae Products Market Report Include:
Market Size Estimates: Algae Products market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Algae Products market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Algae Products market
Segment Market Analysis: Algae Products market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Algae Products market situations and prospects in major and top regions and countries
Algae Products Market
Algae Products Industry Chain: Algae Products market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Algae Products Industry News, Policies by regions
Algae Products Industry Porters Five Forces Analysis
Key players in the global Algae Products market are covered in Chapter 2:
SNAP Natural & Alginate Products
Jiejing Group
Cyanotech Corporation
ADM
KIMICA Corporation
Karagen Indonesia
Weihai Shidai Marine Biotechnolog
Shemberg
Fengrun Seaweed
Gather Great Ocean
Dupont
Zhejiang Binmei Biotechnology Co., Ltd.
In Chapter 6 and Chapter 9, on the basis of types, the Algae Products market from 2018 to 2028 is primarily split into:
Solid
Liquid
In Chapter 7 and Chapter 10, on the basis of applications, the Algae Products market from 2018 to 2028 covers:
Food
Health Product
Chemicals
Feed
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Algae Products market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Algae Products industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Algae Products market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Algae Products industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Algae Products market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Algae Products market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Algae Products market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Algae products are products made with algae as the main raw material, with or without auxiliary materials, and processed by corresponding processes. Algae is rich in antioxidants and carotenoids, so it is very useful in nutraceuticals and dietary supplements. It is also widely used in food, chemicals, animal feed and other fields. Algae can be made into powders and liquids. In addition, algae can have high biofuel production.
Resumption of work and production is affected by epidemic prevention and control
The report delivers insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. Should COVID-19 outbreaks persist, should restrictions on movement be extended or reintroduced, or should disruptions to economic activity be prolonged, the recession could be deeper. Businesses might find it hard to service debt, heightened risk aversion could lead to climbing borrowing costs, and bankruptcies and defaults could result in financial crises in many countries.
However, resumption of work and production is affected by epidemic prevention and control. In the face of this disquieting outlook, the immediate priority for policymakers is to address the health crisis and contain the short-term economic damage. Over the longer term, authorities need to undertake comprehensive reform programs to improve the fundamental drivers of economic growth once the crisis lifts. Global coordination and cooperation—of the measures needed to slow the spread of the pandemic, and of the economic actions needed to alleviate the economic damage, including international support—provide the greatest chance of achieving public health goals and enabling a robust global recovery.
Changes in lifestyle of the people
Consumption of healthy food products and dietary supplement, due to changes in lifestyle of the people has changed the perspective of this market. The global algae products market is estimated to grow, due to increase in demand for natural products and proactive efforts by market players to formulate algae based consumable products to satisfy quality, texture, and nutritional demand of consumers. Earlier, algae were not considered for production of bio fuel as cost of production was high, however with recent development in process technology and feasibility of process algae bio fuel can be used as an alternative to fossil fuel. In addition, rising in global population and increase in demand for food, customization of functional food product portfolio by manufacturers and untapped markets of developing nations are the major growth opportunities for algae products market during the forecast period.
High production costs restrict the entry of smaller players
Though there is an increase in the adoption of newer technologies to produce low-cost algae. With the increase in focus on R&D activities and overall costs, leading players such as ADM (US) account for a high share in the market. The production is usually expensive and consists of extraction, concentration, and purification processes. Following extraction and purification, algae must be formulated for further application. This formulation will also depend on the intended use. The formulation involves complicated processes, due to complicated procedure and various formulation the production cost increases and restrict the local and regional players in the algae products market.
Rising in global food demand and decrease in cultivable land available for food production
In addition, rise in global food demand and decrease in cultivable land available for food production attract various manufactures to shift their preference to algae-based products, which help propel the algae products market growth. Furthermore, initiative by various developing and developed countries at Paris Agreement to reduce the global carbon footprint by using renewable source of energy such as algae-based biofuel, is expected to further drive the growth of the algae products market.
Region Overview:
In 2022, the share of the Algae Products market in Europe stood at 40.12%.
Company Overview:
Dupont is one of the major players operating in the Algae Products market, holding a share of 3.77% in 2023.
Dupont
DuPont is one of the largest conglomerates in the United States. The company is headquartered in Wilmington, Delaware, United States. DuPont is engaged in the sector of roofing, adhesives, advanced printing solutions, construction materials, home gardens, electronic solutions, car care, fabrics, and more. The company is a market leader in the chemical business.
KIMICA Corporation
KIMICA Corporation is a manufacturer and worldwide supplier of alginate, a natural polysaccharide extracted from seaweed.
Segmentation Overview:
Among different product types, Solid segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Health Product segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Algae Products industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Algae Products. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Algae Products Market Report Include:
Market Size Estimates: Algae Products market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Algae Products market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Algae Products market
Segment Market Analysis: Algae Products market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Algae Products market situations and prospects in major and top regions and countries
Algae Products Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Algae Products Industry Chain: Algae Products market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Algae Products Industry News, Policies by regions
Algae Products Industry Porters Five Forces Analysis
Key players in the global Algae Products market are covered in Chapter 2:
SNAP Natural & Alginate Products
Jiejing Group
Cyanotech Corporation
ADM
KIMICA Corporation
Karagen Indonesia
Weihai Shidai Marine Biotechnolog
Shemberg
Fengrun Seaweed
Gather Great Ocean
Dupont
Zhejiang Binmei Biotechnology Co., Ltd.
In Chapter 6 and Chapter 9, on the basis of types, the Algae Products market from 2018 to 2028 is primarily split into:
Solid
Liquid
In Chapter 7 and Chapter 10, on the basis of applications, the Algae Products market from 2018 to 2028 covers:
Food
Health Product
Chemicals
Feed
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Algae Products market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Algae Products industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Algae Products market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Algae Products industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Algae Products market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Algae Products market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Algae Products market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
