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Microalgae Market - Global Industry Analysis

Microalgae Market - By Distribution Channel (Consumer Channel, Industrial Channel, and Service Channel), By Application (Nutraceuticals, Food & Beverages, Animal Feed, and Cosmetics), By Type (Spirulina, Chlorella, Dunaliella Salina, and Haematococcus Pluvialis), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028

Published Date: 29-Sep-2021 Category: Food & Beverage Report Format : PDF Pages: 178 Report Code: ZMR-6712 Status : Published

The global Microalgae market accrued earnings worth approximately 1.3 (USD Billion) in 2020 and is predicted to gain revenue of about 4.2(USD Billion) by 2028, is set to record a CAGR of nearly 11.1% over the period from 2021 to 2028.

Description

The global Microalgae market accrued earnings worth approximately 1.3 (USD Billion) in 2020 and is predicted to gain revenue of about 4.2(USD Billion) by 2028, is set to record a CAGR of nearly 11.1% over the period from 2021 to 2028. The report offers assessment and analysis of the Microalgae market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Microalgae Market: Overview

Microalgae have become a dictum in recent years owing to its extensive use in nutraceutical, renewable energy, and bio-pharmaceutical industries. Furthermore, microalgae are sustainable & renewable and form a cost-effective source of biofuel and bioactive therapeutic products. Apart from this, a large number of microalgae species have been researched for their beneficial features such as biological & pharmacological qualities. Reportedly, these microorganisms can be used as biofuels and are best alternative to liquid fossil fuels in terms of cost, sustainability, and pollution. In addition to this, these algae can convert atmospheric carbon dioxide into lipids, bioactive metabolites, and carbohydrates.

Furthermore, microalgae have ability of transforming solar energy to chemical energy through carbon dioxide fixation. They are key components of food chain of aquatic ecosystems and are consumed as food & medicines by humans. Its growing use in health supplements, cosmetics, and pharmaceuticals along with its slew of applications in wastewater treatment has made it most sought for product. Apart from this, microalgae produce a large number of bio-products such as vitamins, lipids, polysaccharides, pigments, anti-oxidants, and bioactive compounds. Large-scale focus on bio-refinery due to growing interest in microalgae as renewable & sustainable raw material for biofuel production will enlarge application of microalgae across spectrum of industries in near future. Breakthroughs in genetic engineering are likely to improve growth potential of renewable bio-products, thereby enhancing scope of use of microalgae in near future.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Microalgae Market: Growth Drivers

Microalgae comprises of high proportion of carbohydrates including cellulose, glycogen, agar, and starch that can be easily converted into fermentable sugars form through manufacture of bioethanol. Moreover, bioethanol production through microalgae can facilitate production of biofuels that can be used as sustainable fuels in vehicles. Also, this will help in reducing GHG emissions in atmosphere, thereby contributing substantially towards green environment. This, in turn, will drive growth of microalgae market in years ahead. Apart from this, humungous demand for microalgae in pet foods, fertilizers, and healthcare sectors will open new vistas of growth for microalgae market in foreseeable future. Rise in microalgae cultivation is projected to account majorly towards sustainable biomass production along with producing cost-efficient products having high value.

Furthermore, massive use of algal products in functional foods & beverages as a result of their anti-oxidative features will offer new avenues of growth for microalgae market in upcoming years. In addition to this, microalgae in presence of sunlight & stress conditions convert carbon dioxide into microalgae biomass that is utilized directly in human food, dietary supplements, and animal fodder. Moreover, microalgae biomass is a rich source of biofuels like vegetable oil, biodiesel, bio-char, bio syngas, and bioethanol. Apart from this, biomass is also a key source of valuable bioactive compounds and bio-products including anti-oxidants, vitamins, antimicrobial drugs, coloring agents, poly-unsaturated fatty acids, and anticancer medicines. All these major uses of microalgae will quill growth of microalgae market in years to come. 

In addition to this, microalgae strains including Arthrospira, Aphanizomenon flos-aquae, and Chlorella are cultivated for their commercial use due to high protein contents and health benefits. Apart from this, these products possess significant biological effects such as anti-hyperlipidemia and anti-hyperglycemia that help in controlling obesity and regulating serum glucose level in diabetics. Additionally, microalgae sterols provide beneficial health effects such as anticancer, hypo-cholesterolemia, and anti-inflammation. Apart from this, they provide great relief to patients affected due to Parkinson disease. Apparently, microalgae possess high nutritive value and significant enzymatic effects. Antimicrobial, antibacterial, and antifungal features of microalgae have enhanced their use in plants for increasing crop yield & reducing food spoilage as green microalgae referred as Chlorella retards development of bacteria that are harmful to plants. All these aforementioned factors are predicted to chart a profitable roadmap for microalgae market in coming years.

Regional Landscape

European Microalgae Market To Register Massive Growth By 2028

Growth of Microalgae market in Europe over forecast timeframe can be credited to large scale extraction and harvesting of microalgae in countries such as Spain, Belgium, France, Italy, Germany, Sweden, UK, Denmark, and Austria. Apart from this, improved microalgae research & marketing activities in Europe will culminate into humungous growth of microalgae market in continent over forecasting period. Additionally, purified polyunsaturated fatty acids derived from microalgae strain referred as Arthrospira are blended with infant milk formulas and this product is used in European nations for promoting good health in infants. This, in turn, will enlarge scope of microalgae industry in Europe over the coming timespan. Massive use of microalgae-based products in manufacturing of foods in large number of European countries will translate into bulbous growth of microalgae business in Europe.  In addition to this, interest in microalgae-based food products have been increasing among European consumers in recent years. Hence, it is projected that microalgae market in Europe is likely to expand prominently in forthcoming years.

Competitive Landscape

Key players influencing market growth and profiled in report include Algatech LTD, Cellana Inc., BASF SE, Heliae Development, LLC, E.I.D. - Parry (India) Limited, DSM, ALGENOL, BIOPROCESS ALGAE, LLC., Shaanxi Rebecca Bio-Tech Co., Ltd , Corbion, Kuehnle AgroSystems Inc.,  ALGISYS LLC, Algarithm, Cyanotech Corporation, Duplaco B.V., Henry Lamotte Oils GmbH, Algaecytes, AlgaEnergy, AlgoSource, Australian Spirulina, Lyxia, Corbion,  euglena Co., Ltd.,  and AstaReal AB.

The global microalgae Market is segmented as follows:

By Distribution Channel

  • Consumer Channel
  • Service Channel
  • Industrial Channel

By Type

  • Spirulina
  • Dunaliella Salina
  • Haematococcus Pluvialis
  • Chlorella

By Application

  • Nutraceuticals
  • Food & Beverages
  • Cosmetics
  • Animal Feed

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodulogy
      • 1.3.1. Market Research Type
      • 1.3.2. Market Research Methodulogy
  • Chapter 2. Executive Summary
    • 2.1. Microalgae Market, 2018–2028(USD Billion)
    • 2.2. Microalgae Market: Snapshot
  • Chapter 3. Global Microalgae Market– Industry Analysis
    • 3.1. Microalgae Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. With Microalgae steruls delivering beneficial health effects such as anticancer, hypo-chulesterulemia, and anti-inflammation, the market for microalgae is set to expand extensively in near future.
      • 3.2.2. Antimicrobial, antibacterial, and antifungal features of microalgae have raised its utility in plants, thereby resulting in high crop yield and low food spoilage. This, in turn, is projected to upsurge growth of microalgae market in upcoming years.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Distribution Channel
      • 3.4.2. Market attractiveness analysis By Application
      • 3.4.3. Market attractiveness analysis By Type
  • Chapter 4. Global Microalgae Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Microalgae Market: company market share, 2019
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Product launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Microalgae Market– Distribution Channel Analysis
    • 5.1. Global Microalgae Market overview: By Distribution Channel
      • 5.1.1. Global Microalgae Market share, By Distribution Channel, 2020 and 2028
    • 5.2. Consumer Channel
      • 5.2.1. Global Microalgae Market by Consumer Channel, 2018–2028(USD Billion)
    • 5.3. Service Channel
      • 5.3.1. Global Microalgae Market by Service Channel, 2018–2028(USD Billion)
    • 5.4. Industrial Channel
      • 5.4.1. Global Microalgae Market by Industrial Channel, 2018–2028(USD Billion)
  • Chapter 6. Global Microalgae Market– Application Analysis
    • 6.1. Global Microalgae Market overview: By Application
      • 6.1.1. Global Microalgae Market share, By Application, 2020 and 2028
    • 6.2. Nutraceuticals
      • 6.2.1. Global Microalgae Market by Nutraceuticals , 2018–2028(USD Billion)
    • 6.3. Food & Beverages
      • 6.3.1. Global Microalgae Market by Food & Beverages, 2018–2028(USD Billion)
    • 6.4. Cosmetics
      • 6.4.1. Global Microalgae Market by Cosmetics, 2018–2028(USD Billion)
    • 6.5. Animal Feed
      • 6.5.1. Global Microalgae Market by Animal Feed, 2018–2028(USD Billion)
  • Chapter 7. Global Microalgae Market overview: By Type
    • 7.1. Global Microalgae Market share, By Type, 2020 and 2028
    • 7.2. Spirulina
      • 7.2.1. Global Microalgae Market by Spirulina , 2018–2028(USD Billion)
    • 7.3. Dunaliella Salina
      • 7.3.1. Global Microalgae Market by Dunaliella Salina, 2018–2028(USD Billion)
    • 7.4. Haematococcus Pluvialis
      • 7.4.1. Global Microalgae Market by Haematococcus Pluvialis , 2018–2028(USD Billion)
    • 7.5. Chlorella
      • 7.5.1. Global Microalgae Market by Chlorella, 2018–2028(USD Billion)
  • Chapter 8. Company Profiles
    • 8.1. Algatech LTD
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Product Portfulio
      • 8.1.4. Business Strategy
      • 8.1.5. Recent Developments
    • 8.2. Cellana Inc.
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Product Portfulio
      • 8.2.4. Business Strategy
      • 8.2.5. Recent Developments
    • 8.3. BASF SE
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Product Portfulio
      • 8.3.4. Business Strategy
      • 8.3.5. Recent Development
    • 8.4. Heliae Development, LLC
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Product Portfulio
      • 8.4.4. Business Strategy
      • 8.4.5. Recent Development
    • 8.5. E.I.D. - Parry (India) Limited
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Product Portfulio
      • 8.5.4. Business Strategy
      • 8.5.5. Recent Development
    • 8.6. DSM
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Product Portfulio
      • 8.6.4. Business Strategy
      • 8.6.5. Recent Development
    • 8.7. BIOPROCESS ALGAE, LLC.
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Product Portfulio
      • 8.7.4. Business Strategy
      • 8.7.5. Recent Development
    • 8.8. Shaanxi Rebecca Bio-Tech Co., Ltd
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Product Portfulio
      • 8.8.4. Business Strategy
      • 8.8.5. Recent Development
    • 8.9. Corbion
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Product Portfulio
      • 8.9.4. Business Strategy
      • 8.9.5. Recent Development
    • 8.10. Kuehnle AgroSystems Inc.
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Product Portfulio
      • 8.10.4. Business Strategy
      • 8.10.5. Recent Development
    • 8.11. ALGISYS LLC
      • 8.11.1. Overview
      • 8.11.2. Financials
      • 8.11.3. Product Portfulio
      • 8.11.4. Business Strategy
      • 8.11.5. Recent Development
    • 8.12. Algarithm
      • 8.12.1. Overview
      • 8.12.2. Financials
      • 8.12.3. Product Portfulio
      • 8.12.4. Business Strategy
      • 8.12.5. Recent Development
    • 8.13. Cyanotech Corporation
      • 8.13.1. Overview
      • 8.13.2. Financials
      • 8.13.3. Product Portfulio
      • 8.13.4. Business Strategy
      • 8.13.5. Recent Development
    • 8.14. Duplaco B.V.
      • 8.14.1. Overview
      • 8.14.2. Financials
      • 8.14.3. Product Portfulio
      • 8.14.4. Business Strategy
      • 8.14.5. Recent Development
    • 8.15. AstaReal AB
      • 8.15.1. Overview
      • 8.15.2. Financials
      • 8.15.3. Product Portfulio
      • 8.15.4. Business Strategy
      • 8.15.5. Recent Development
    • 8.16. ALGENOL
      • 8.16.1. Overview
      • 8.16.2. Financials
      • 8.16.3. Product Portfulio
      • 8.16.4. Business Strategy
      • 8.16.5. Recent Development
    • 8.17. euglena Co., Ltd.
      • 8.17.1. Overview
      • 8.17.2. Financials
      • 8.17.3. Product Portfulio
      • 8.17.4. Business Strategy
      • 8.17.5. Recent Development
    • 8.18. Corbion
      • 8.18.1. Overview
      • 8.18.2. Financials
      • 8.18.3. Product Portfulio
      • 8.18.4. Business Strategy
      • 8.18.5. Recent Development
    • 8.19. Lyxia
      • 8.19.1. Overview
      • 8.19.2. Financials
      • 8.19.3. Product Portfulio
      • 8.19.4. Business Strategy
      • 8.19.5. Recent Development
    • 8.20. Australian Spirulina
      • 8.20.1. Overview
      • 8.20.2. Financials
      • 8.20.3. Product Portfulio
      • 8.20.4. Business Strategy
      • 8.20.5. Recent Development
    • 8.21. AlgoSource
      • 8.21.1. Overview
      • 8.21.2. Financials
      • 8.21.3. Product Portfulio
      • 8.21.4. Business Strategy
      • 8.21.5. Recent Development
    • 8.22. AlgaEnergy
      • 8.22.1. Overview
      • 8.22.2. Financials
      • 8.22.3. Product Portfulio
      • 8.22.4. Business Strategy
      • 8.22.5. Recent Development
    • 8.23. Algaecytes
      • 8.23.1. Overview
      • 8.23.2. Financials
      • 8.23.3. Product Portfulio
      • 8.23.4. Business Strategy
      • 8.23.5. Recent Development
    • 8.24. Henry Lamotte Oils GmbH
      • 8.24.1. Overview
      • 8.24.2. Financials
      • 8.24.3. Product Portfulio
      • 8.24.4. Business Strategy
      • 8.24.5. Recent Development

List of Figures

1. Market research Type
2. Market research methodology
3. Global Microalgae Market, 2018–2028(USD Billion)
4. Porter’s Five Forces Analysis
5. Global Microalgae Marketattractiveness, By Distribution Channel
6. Global Microalgae Marketattractiveness, By Application
7. Global Microalgae Marketattractiveness, By Type
8. Global Microalgae Marketshare by Distribution Channel ,2020 and 2028 (USD Billion)
9. Global Microalgae Marketby Consumer Channel, 2018–2028(USD Billion)
10. Global Microalgae Marketby Service Channel, 2018–2028(USD Billion)
11. Global Microalgae Marketby Industrial Channel, 2018–2028(USD Billion)
12. Global Microalgae Marketshare by Application ,2020 and 2028 (USD Billion)
13. Global Microalgae Marketby Nutraceuticals,  2018–2028(USD Billion)
14. Global Microalgae Marketby Food & Beverages, 2018–2028(USD Billion)
15. Global Microalgae Marketby Cosmetics, 2018–2028(USD Billion)
16. Global Microalgae Marketby Animal Feed, , 2018–2028(USD Billion)
17. Global Microalgae Marketshare by Type,2020 and 2028 (USD Billion)
18. Global Microalgae Marketby Spirulina,  2018–2028(USD Billion)
19. Global Microalgae Marketby Haematococcus Pluvialis , 2018–2028(USD Billion)
20. Global Microalgae Marketby Dunaliella Salina, 2018–2028(USD Billion)
21. Global Microalgae Marketby Chlorella, 2018–2028(USD Billion)
22. Global Microalgae Marketshare, by Region, 2020 and 2028
23. North America Microalgae Market, 2018–2028(USD Billion)
24. Europe Microalgae Market, 2018–2028(USD Billion)
25. Asia Pacific Microalgae Market, 2018–2028(USD Billion)
26. Latin America Microalgae Market, 2018–2028(USD Billion)
27. The Middle East and Africa Microalgae Market, 2018–2028(USD Billion)


List of Tables

1. Global Microalgae Market: snapshot
2. Drivers of the Microalgae Market: impact analysis
3. North America Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
4. North America Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
5. North America Microalgae Market revenue, By Type,2018–2028(USD Billion)
6. The U.S. Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
7. The U.S. Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
8. The U.S. Microalgae Market revenue, By Type,2018–2028(USD Billion)
9. Rest of North America Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
10. Rest of North America Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
11. Rest of North America Microalgae Market revenue, By Type,2018–2028(USD Billion)
12. Europe Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
13. Europe Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
14. Europe Microalgae Market revenue, By Type,2018–2028(USD Billion)
15. UK Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
16. UK Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
17. UK Microalgae Market revenue, By Type,2018–2028(USD Billion)
18. France Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
19. France Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
20. France Microalgae Market revenue, By Type,2018–2028(USD Billion)
21. Germany Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
22. Germany Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
23. Germany Microalgae Market revenue, By Type,2018–2028(USD Billion)
24. Rest of Europe Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
25. Rest of Europe Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
26. Rest of Europe Microalgae Market revenue, By Type,2018–2028(USD Billion)
27. Asia Pacific Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
28. Asia Pacific Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
29. Asia Pacific Microalgae Market revenue, By Type,2018–2028(USD Billion)
30. China Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
31. China Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
32. China Microalgae Market revenue, By Type,2018–2028(USD Billion)
33. Japan Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
34. Japan Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
35. Japan Microalgae Market revenue, By Type,2018–2028(USD Billion)
36. India Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
37. India Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
38. India Microalgae Market revenue, By Type,2018–2028(USD Billion)
39. Rest of Asia Pacific Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
40. Rest of Asia Pacific Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
41. Rest of Asia Pacific Microalgae Market revenue, By Type,2018–2028(USD Billion)
42. Latin America Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
43. Latin America Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
44. Latin America Microalgae Market revenue, By Type,2018–2028(USD Billion)
45. Brazil Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
46. Brazil Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
47. Brazil Microalgae Market revenue, By Type,2018–2028(USD Billion)
48. Rest of Latin America Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
49. Rest of Latin America Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
50. Rest of Latin  America Microalgae Market revenue, By Type,2018–2028(USD Billion)
51. The Middle East and Africa Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
52. The Middle East and Africa Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
53. The Middle East and Africa Microalgae Market revenue, By Type,2018–2028(USD Billion)
54. Saudi Arabia Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
55. Saudi Arabia Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
56. Saudi Arabia Microalgae Market revenue, By Type,2018–2028(USD Billion)
57. South Africa Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
58. South Africa Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
59. South Africa Microalgae Market revenue, By Type,2018–2028(USD Billion)
60. Rest of the Middle East & Africa Microalgae Market revenue, By Distribution Channel  ,2018–2028(USD Billion)
61. Rest of the Middle East & Africa Microalgae Market revenue, By Application  ,2018–2028(USD Billion)
62. Rest of the Middle East & Africa Microalgae Market revenue, By Type,2018–2028(USD Billion)


 

Methodology

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FrequentlyAsked Questions

Microalgae comprises of high proportion of carbohydrates including cellulose, glycogen, agar, and starch that can be easily converted into fermentable sugars form through manufacture of bioethanol. Moreover, bioethanol production through microalgae can facilitate production of biofuels that can be used as sustainable fuels in vehicles. Also, this will help in reducing GHG emissions in atmosphere, thereby contributing substantially towards green environment. This, in turn, will drive growth of microalgae market in years ahead. Apart from this, humungous demand for microalgae in pet foods, fertilizers, and healthcare sectors will open new vistas of growth for microalgae market in foreseeable future. Rise in microalgae cultivation is projected to account majorly towards sustainable biomass production along with producing cost-efficient products having high value.

Furthermore, massive use of algal products in functional foods & beverages as a result of their anti-oxidative features will offer new avenues of growth for microalgae market in upcoming years. In addition to this, microalgae in presence of sunlight & stress conditions convert carbon dioxide into microalgae biomass that is utilized directly in human food, dietary supplements, and animal fodder. Moreover, microalgae biomass is a rich source of biofuels like vegetable oil, biodiesel, bio-char, bio syngas, and bioethanol. Apart from this, biomass is also a key source of valuable bioactive compounds and bio-products including anti-oxidants, vitamins, antimicrobial drugs, coloring agents, poly-unsaturated fatty acids, and anticancer medicines. All these major uses of microalgae will quill growth of microalgae market in years to come.

According to Zion market research report, the global Microalgae market accrued earnings worth approximately 1.3 (USD Billion) in 2020 and is predicted to gain revenue of about 4.2(USD Billion) by 2028, is set to record a CAGR of nearly 11.1% over the period from 2021 to 2028.

Europe will contribute lucratively towards the global market value over the estimated timeline. The regional market surge is subject to large scale extraction and harvesting of microalgae in countries such as Spain, Belgium, France, Italy, Germany, Sweden, UK, Denmark, and Austria. Apart from this, improved microalgae research & marketing activities in Europe will culminate into humungous growth of microalgae market in continent over forecasting period. Additionally, purified polyunsaturated fatty acids derived from microalgae strain referred as Arthrospira are blended with infant milk formulas and this product is used in European nations for promoting good health in infants. This, in turn, will enlarge scope of microalgae industry in Europe over the coming timespan. Massive use of microalgae-based products in manufacturing of foods in large number of European countries will translate into bulbous growth of microalgae business in Europe. 

The key market participants include Algatech LTD, Cellana Inc., BASF SE, Heliae Development, LLC, E.I.D. - Parry (India) Limited, DSM, ALGENOL, BIOPROCESS ALGAE, LLC., Shaanxi Rebecca Bio-Tech Co., Ltd , Corbion, Kuehnle AgroSystems Inc., ALGISYS LLC, Algarithm, Cyanotech Corporation, Duplaco B.V., Henry Lamotte Oils GmbH, Algaecytes, AlgaEnergy, AlgoSource, Australian Spirulina, Lyxia, Corbion, euglena Co., Ltd., and AstaReal AB.

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