Microalgae Market Size, Share, Growth Analysis, By Type(Spirulina, Chlorella, Dunaliella Salina, and Aphanizomenon Flos-Aquae), By Application(Dietary supplements, Food/Feed, Pharmaceutical, Cosmetic), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Microalgae Market?

The global microalgae market is highly competitive, with numerous training providers vying for market share. Established companies, start-ups, and research institutions engage in intense competition to innovate and offer a wide range of microalgae-based products. Key players invest heavily in research and development to enhance product efficiency, quality, and sustainability. Partnerships and collaborations are common to leverage expertise and expand market reach. Additionally, advancements in technology and cultivation techniques play a pivotal role in gaining a competitive edge. As the demand for sustainable and eco-friendly solutions grows, competition in the microalgae market is expected to further intensify. 'Algenol Biotech – (US)', 'Cellana Inc. - (US)', 'Cyanotech Corporation - (US)', 'DIC Corporation – (Japan)', 'E.I.D Parry ltd – (India)', 'Fuqing King Dnarmsa Spirulina Co. Ltd. – (China)', 'Kent BioEnergy Corporation - (US)', 'Taau Australia Pty Ltd. – (Australia)', 'Astareal AB – (Sweden)'.

Q: Which region accounted for the largest share in Global Microalgae Market?

The global microalgae market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Among these regions, “Asia-Pacific” stands out as the most dominant region, exhibiting robust growth and significant market share. The region's thriving economy, increasing population, and rising awareness about the benefits of microalgae products drive its prominence. Additionally, the presence of numerous microalgae cultivation facilities and research institutions further contributes to its leadership position.

Report ID: SQMIG30H2147 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 66 | Figures: 64

Microalgae Market News

In May 2022, Thai Union Group, a global leader in the tuna industry, invested US$ 7.9 Million in Mara Renewable Corporation to support the development of algae-based bio-products.

In November 2022, Euglena Co., Ltd made an announcement stating that regular consumption of Euglena, a microalgae known as Euglena in Japan, can help alleviate various symptoms and prevent the onset of cold-like symptoms.

In December 2022, Pond Technologies Holdings Inc., an ESG company focused on global sustainability challenges, provided an update on its agreement with Livalta, a subsidiary of Associated British Foods. Pond successfully installed an algae lab and several algae bioreactors at AB Agri's British Sugar plant in Wissington, UK, as part of their efforts to address wellness and climate change issues.

In January 2023, Thai Union Group collaborated with the Scholars of Sustenance Foundation (SOS) to promote awareness about food waste and nutrition through the School of Sustenance Program in six local schools in Thailand.

Microalgae Market Report Snapshots

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Microalgae Market size was valued at USD 1.37 billion in 2021 and is poised to grow from USD 1.50 billion in 2022 to USD 3.08 billion by 2030, growing at a CAGR of 9.4% in the forecast period (2023-2030).

The microalgae market is highly competitive, with numerous training providers vying for market share. Established companies, start-ups, and research institutions engage in intense competition to innovate and offer a wide range of microalgae-based products. Key players invest heavily in research and development to enhance product efficiency, quality, and sustainability. Partnerships and collaborations are common to leverage expertise and expand market reach. Additionally, advancements in technology and cultivation techniques play a pivotal role in gaining a competitive edge. As the demand for sustainable and eco-friendly solutions grows, competition in the microalgae market is expected to further intensify. 'Algenol Biotech – (US)', 'Cellana Inc. - (US)', 'Cyanotech Corporation - (US)', 'DIC Corporation – (Japan)', 'E.I.D Parry ltd – (India)', 'Fuqing King Dnarmsa Spirulina Co. Ltd. – (China)', 'Kent BioEnergy Corporation - (US)', 'Taau Australia Pty Ltd. – (Australia)', 'Astareal AB – (Sweden)'

With growing environmental concerns and a shift towards sustainable practices, there is a rising demand for eco-friendly and renewable alternatives in various industries. Microalgae, being a rich source of nutrients and bioactive compounds, offer a promising solution for sustainable food, feed, and other applications.

Increased Demand for Sustainable and Eco-Friendly Products

The microalgae market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Among these regions, “Asia-Pacific” stands out as the most dominant region, exhibiting robust growth and significant market share. The region's thriving economy, increasing population, and rising awareness about the benefits of microalgae products drive its prominence. Additionally, the presence of numerous microalgae cultivation facilities and research institutions further contributes to its leadership position.

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Microalgae Market Size, Share, Growth Analysis, By Type(Spirulina, Chlorella, Dunaliella Salina, and Aphanizomenon Flos-Aquae), By Application(Dietary supplements, Food/Feed, Pharmaceutical, Cosmetic), By Region - Industry Forecast 2024-2031

Microalgae Market News

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