Global Market Study on Microbial Algae Products: High Nutrient Properties Increasing Demand for Microalgae-based Products


Microbial Algae Products  Market
  • Published On : Sep-2020 |
  • Pages : 300 Pages |
  • Format : Microbial Algae Products  Market Microbial Algae Products  Market Microbial Algae Products  Market Microbial Algae Products  Market

In recent years, there has been a growing trend toward using natural ingredients in food, nutraceuticals, and cosmetics, resulting from increasing concerns regarding consumer safety and regulatory issues over the introduction of synthetic chemicals in the human food chain. Demand for natural products derived from microalgae has been growing rapidly, owing to increasing consumer awareness of its health benefits. Application of astaxanthin, spirulina, chlorella Lutein, and others has increased in aquaculture feed, nutraceutical, cosmetics, and food & beverages. This is boding well for the expansion of the microbial algae products market size.

Rising Demand for Dietary Supplements & Superfoods

Natural astaxanthin sources from microalgae are three to four times more valuable than synthetic alternatives in the nutraceutical and pharmaceutical markets. Since there is growing market demand for natural astaxanthin for specific commercial applications to replace synthetic ingredient in products, manufacturers have increased cultivation of microalgae on an industrial scale.

Microalgae-based products demand is rising all the time, as Spirulina and chlorella are used superfoods, since they consist of large amounts of protein. Spirulina also contains high amounts of vitamins, minerals, and other nutrients, which makes it an ideal food ingredient. Spirulina contains vitamins A, B, C, E, and K, and calcium, iron, magnesium, manganese, phosphorus, sodium and zinc.

Rise in dietary supplement and superfood consumption among consumers is boosting the global microbial algae products market across regions. Moreover, surging demand in the animal feed and aquaculture market is expected to surge the growth of the global microbial algae products market.

High Demand for Natural Ingredients Creating Opportunities for Manufacturers

Demand for natural food supplements and growing awareness about the adverse effects of chemical products among consumers will lead to increased production of astaxanthin, spirulina, and chlorella in the future. As consumers are seeking more natural products, food suppliers are reformulating existing product lines to offer unique products. To offer cleaner, consumer-friendly ingredients such as colors, natural sources have become increasingly common.

Consumers are steadily avoiding animal-based proteins, owing to growing environmental and health issues in many regions around the world, such as Europe and North America. Consumers are moving toward plant-based or microalgae-based proteins – a trend that is expected to provide a significant boost to the overall growth of the global microbial algae products market space.

At present, microalgae-based proteins and ingredients are typically niche in popular foods and drinks. There are products with microalgae used as a minor ingredient, such as pastas and some bakery products, and even, more recently, products that use natural blue spirulina pigments in drinks and confectionery. The U.S. Food & Drug Administration (FDA) has approved Spirulina to be used as a colorant in confectionary applications and chewing gums in the U.S., and the color is in full compliance with federal regulations

Although there is considerably high competition in food & beverages, pharmaceutical, and nutraceutical industries, businesses are constantly finding new ways to cut through this rivalry to gain a competitive advantage. Although the microbial algae products market is relatively in its infancy, a number of companies and small start-ups are entering this space.

Regional Outlook of Microbial Algae Products Market

North America holds largest microbial algae products market share due to the high consumption of dietary supplements by consumers in the region. Also, rising concerns consumers regarding the environment and impact of food products on health have boosted the sales of microbial algae products in the region. Increased sales of green superfoods such as Spirulina and chlorella, demand for natural colors, and various other factors are fueling the growth of the microbial algae products market.

The market in Asia Pacific is grow steadily, as consumers as becoming aware of the benefits of microalgae on human as well as animal health. The rising dietary supplement market in Asia is creating space for the growth of the microbial algae products market in the region.

COVID Impact on Microbial Algae Products Market

The COVID-19 pandemic has caused a decrease in economic growth across most countries and major sectors, including the food and beverage industry. Microbial algae products are one of the high potential products that have application in various industries. The COVID-19 outbreak has increased the demand for health-benefitting products, which will support the growth of the microbial algae products market post COVID-19 era. Decreased trade activity owing to imposed lockdowns in some of the major markets has affected sales. There has been a rise in the consumption of dietary supplements during the COVID era, which is leading to a rise in the demand for microbial algae products across regions.

Analysts’ Viewpoint

The global microbial algae products market is expected to witness steady growth over the forecast period of 2020-2030. High demand from the dietary supplements segment is anticipated to offer growth opportunities overt the coming years. Rising consumption of natural and healthy products is fueling the global microbial algae products market. Manufacturers are working on innovating unique products from the available biomass to fulfill the various demand of consumers. 

Microbial Algae Products Market: Report Scope

The latest market report by Persistence Market Research on the global microbial algae products market evaluates the opportunities and current market scenario, providing insights and updates about the corresponding segments involved in the global microbial algae products market for the forecast period of 2020-2030. The report provides detailed assessment of key market dynamics and comprehensive information about the structure of the global microbial algae products market. This market study contains detailed insights how the global microbial algae products market is anticipated to grow during the forecast period of 2020-2030.

The primary objective of the global microbial algae products market report is to provide insights regarding opportunities in the market that are supporting the transformation of global businesses associated with microbial algae products. It is very important to consider that, in an ever-wavering economy, we provide estimated (Y-o-Y) year-on-year growth rate in addition to the compound annual growth rate (CAGR) for overall forecasts, to enable readers to better understand the analysis and evaluation of the global microbial algae products market, and to discover lucrative opportunities in the market.

This report also provides an estimate of the global microbial algae products market size and corresponding revenue forecasts carried out in terms of absolute $ opportunity. It also offers actionable insights based on the future trends in the microbial algae products market. Furthermore, new and emerging players in the global microbial algae products market can make use of the information presented in the study for effective business decisions, which will provide momentum to their businesses as well as the global microbial algae products market.

The study is relevant for manufacturers, suppliers, distributors, and investors in the global microbial algae products market. All stakeholders in the global microbial algae products market, as well as industry experts, researchers, journalists, and business researchers can leverage the information and data represented in PMR’s report.

Key Segments of Global Microbial Algae Products Market

PMR’s report on the global microbial algae products market offers information divided into three segments – product, application, and region.

Product

Application

Region

  • Astaxanthin
  • Food & Beverages
  • North America
  • B-carotene
  • Dietary Supplements & Pharmaceuticals
  • Latin America
  • Spirulina
  • Personal Care
  • Europe
  • Chlorella
  • Animal Feed & Aquaculture
  • South Asia
  • PUFA
  • Others
  • East Asia
  • Lutein
  • Oceania
  • Others
  • Middle East & Africa

Key Questions Answered in PMR’s Global Microbial Algae Products Market

  • Which region will hold the highest market share in the global microbial algae products market during the forecast period?
  • Which region will show the highest growth (CAGR)?
  • Which factors are impacting the global microbial algae products market?
  • What are the global trends impacting the microbial algae products market?
  • What strategies must emerging players adopt to capture opportunities in various regions in the microbial algae products market?
  • What is the market structure of the global microbial algae products market?

Global Microbial Algae Products Market: Research Methodology

Persistence Market Research is committed to providing unbiased market research solutions to its clients. PMR follows a robust methodology for the deduction of data included in this report. A unique research methodology is utilized to conduct extensive research on the global microbial algae products market, and reach conclusions about the future growth factors of the microbial algae products market. PMR’s research methodology comprises primary research methods coupled with secondary research methods, which ensure the accuracy and reliability of the conclusions in this report.

A demand-side approach is followed to estimate the sales of target products, followed by an in-depth supply-side assessment of value generated, key trends, and events over a predefined period. This methodology is based on standard market structures, methods, and definitions that are based on inputs from local sources in over seven regions - North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa, which PMR considers for segmenting the global market. Statistics, characteristics, and variances are collected at a regional level, aggregated at the same level, and then synthesized at a worldwide level to create global market measurements. Our main sources of research include:

  • Primary Research
  • Secondary Research
  • Trade Research
  • Social Media Research

Companies covered in Microbial Algae Products Market Report

  • Cyanotech Corporation
  • DSM N.V.
  • DIC Corporation
  • EID Parry (India) Ltd
  • Chr. Hansen Holding A/S
  • BGG
  • Divi’s Laboratories Ltd
  • NOW Foods
  • Fuji Chemicals Industries Co. Ltd.
  • Naturex S.A
  • Fuqing King Dnarmsa Spirulina Co. Ltd
  • Algatechnologies Ltd
  • KDI Ingredients

Microbial Algae Products Market

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