Microalgae
Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Microalgae
Market was valued at USD xx million in 2018 and projected to reach USD xx
million by 2023 growing at a CAGR of xx% during the forecast period 2018 to
2023.
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details of 113 number of pages research report developed on Microalgae Market @ https://www.researchcosmos.com/reports/microalgae-market-report-by-type-spirulina-chlorella-dunaliella-salina-red-aphanocapsa-by-e/1501773019
Microalgae
Market Overview:
Microalgae, also known as microphytes,
are microscopic algae, that are typically found in freshwater and marine
systems living in both the water column and its sediment. Unlike the higher
plants, microalgae do not have any roots, stems, or leaves. They are also known
to be rich source of fibre, proteins, enzymes & carbohydrates which makes
them a good food source. The biomass produced from microalgae is used in many
nutritional supplements, in the form of liquids, tablets & capsules.
Microalgae are also used as a natural
colour in food products like pasta, snacks or drinks. The market is having
applications in the pharmaceutical Industry, cosmetics Industry, food and feed
Industry, chemical Industry and other industries. Growth in global population
and rise in demand for food and customization of functional food product
portfolio by manufacturers are the main factors likely to boost the growth of
the market. Additionally, application of algae for production of livestock for
aquaculture species such as fish further boosts the market demand.
Microalgae
Market Growth Drivers and Restraints:
Consumption of healthy food products
and dietary supplement, due to changes in lifestyle of the people has changed
the outlook of this market. Due to rise in demand for natural products and
proactive efforts by market players to express 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 viability of
process algae bio fuel can be used as a substitute to fossil fuel.
Consumption of algae-based
prescription drug products, such as sun chlorella, microalgae, spirulina caused
gastrointestinal, abdominal, and nausea health problem, which is expected to
hamper the market growth during the forecast period. Yet, the development of
commercial by-products and algae-based biofuel production technology is
expected to drive the market growth in near future.
Microalgae
Market – Geographical Overview:
Geographically, the market is divided
into North America, Europe, Asia Pacific, and LAMEA. Asia Pacific was the
largest market for algae products in 2017, owing to rise in population coupled
with increased demand of food in the region. Growing health awareness and rise
of disposable income in countries such as China, India, and Japan, increase the
consumption of nutraceutical products, which fuel the growth of the world
market.
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Key Players of Microalgae
Market:
The main market players in the global
microalgae market include euglena Co., Ltd., Algae Systems LLC., Cargill,
Incorporated, Algenol Biofuels Inc., BIOPROCESS ALGAE, LLC, Corbion,
Algatechnologies, Cyanotech Corporation, Cellana Inc., and Earthrise
Nutritional.
Microalgae
Market Segmentation:
By Type:
·
Spirulina
·
Chlorella
·
Dunaliella Salina
·
Red Aphanocapsa
By End User:
·
Food
·
Feed
·
Pharmaceuticals
·
Biofuel
By Region:
·
North America
·
South America
·
Europe
·
Asia Pacific
·
Middle East and
Africa
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