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PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1442550

PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1442550

Microbial Algae Products Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

PUBLISHED: February 23, 2024

PAGES: 300 Pages

DELIVERY TIME: 2-5 business days

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Description

The global market for microbial algae products is poised for substantial growth over the forecast period from 2024 to 2031, according to the latest market outlook report. The report forecasts a robust value-based Compound Annual Growth Rate (CAGR) of 7.0%, with revenues expected to soar from US$ 3.5 billion in 2024 to approximately US$ 5.5 billion by 2031.

Rising Awareness about benefits of Microalgae

One of the key trends driving the growth of the microbial algae products market is the increasing awareness among consumers about the health benefits of microalgae. With a growing understanding of the impact of food on human health, there has been a surge in demand for functional foods, with microalgae-based products gaining traction globally. The report highlights that approximately 84% of adults in the United States consume dietary supplements, fueling the demand for microalgae products.

Growing Demand of Dietary Supplements and Superfoods

Natural astaxanthin sourced from microalgae is witnessing escalating demand, particularly in the pharmaceutical and nutraceutical markets. As consumers increasingly opt for natural and healthy products, there has been a surge in the cultivation of microalgae on an industrial scale. Superfoods like spirulina and chlorella, rich in protein and essential nutrients, are witnessing rising demand, further propelling market growth.

Increasing Demand for Natural Ingredients Creating Opportunities for Manufacturers

The market report underscores the rising demand for natural food supplements and ingredients, driven by consumer preferences for cleaner and healthier options. With a shift towards plant-based and microalgae-based proteins, manufacturers are reformulating their product lines to meet evolving consumer demands. Additionally, the approval of spirulina as a colorant by the United States Food & Drug Administration (FDA) opens up new avenues for market expansion.

Increased consumer spending on Healthcare Products

As health concerns mount globally, there has been a surge in consumer spending on healthcare products, including dietary supplements. Microalgae products such as astaxanthin are gaining traction among consumers due to their perceived health benefits, further driving market growth.

Country-wise Insights

China emerges as a dominant player in the East Asian microbial algae products market, boasting a considerable value share in 2023. This is attributed to its advanced manufacturing facilities integrating cutting-edge technology and abundant raw material resources. Additionally, changing dietary preferences towards protein-rich foods, fueled by rising incomes, sedentary lifestyles, and heightened health awareness, drive the demand for microbial algae products in China.

In North America, microbial algae products command a significant market share in 2023, with the United States leading the region. Factors such as increasing fitness awareness, a growing aquaculture sector, and stringent quality standards contribute to the market's growth. The United States is expected to exhibit robust expansion during the forecast period, reflecting a growing demand for microbial algae products.

Category-wise Insights

Among various applications, the food & beverage segment dominates the market, accounting for the highest revenue generation. Increasing demand for processed food products, coupled with the rising popularity of plant-based food and beverage products, is expected to fuel growth in this segment.

Competitive Analysis

Key manufacturers in the microbial algae products market are targeting product offerings towards manufacturers operating in the algae industry. Major players are driving innovation and market expansion. While multinational companies hold a substantial market share, regional and local players are also making significant contributions, particularly in export-oriented markets.

Some key companies are:

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
Others ( Available on Request)

Microbial algae products Industry Research by Category

By Product Type:

Astaxanthin
B-Carotene
Spirulina
Chlorella
PUFA
Lutein
Others

By Application:

Food & Beverage
Dietary Supplement & Pharmaceutical
Personal Care
Animal Feed & Aquaculture
Others

By Region:

North America
Latin America
Europe
South Asia & Pacific
East AsiaMiddle East & Africa

1. Executive Summary

1.1. Global Microbial Algae Products Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Production Output and Trade Statistics, 2018 - 2023

3.1. Global Personal Emergency Response Systems Production Output, by Region, Value (US$ Bn) and Volume (Units), 2018 - 2023
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East and Africa

4. Price Analysis, 2018 - 2023

4.1. Global Average Price Analysis, by Product Type, US$ Per Unit, 2018 - 2023
4.2. Prominent Factor Affecting Personal Emergency Response Systems Prices
4.3. Global Average Price Analysis, by Region, US$ Per Unit

5. Global Microbial Algae Products Market Outlook, 2018 - 2031

5.1. Global Microbial Algae Products Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Astaxanthin
  - 5.1.1.2. B-Carotene
  - 5.1.1.3. Spirulina
  - 5.1.1.4. Chlorella
  - 5.1.1.5. PUFA
  - 5.1.1.6. Lutein
  - 5.1.1.7. Others
5.2. Global Microbial Algae Products Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Food & Beverage
  - 5.2.1.2. Dietary Supplement & Pharmaceutical
  - 5.2.1.3. Personal Care
  - 5.2.1.4. Animal Feed & Aquaculture
  - 5.2.1.5. Others
5.3. Global Microbial Algae Products Market Outlook, by Region, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. North America
  - 5.3.1.2. Europe
  - 5.3.1.3. Asia Pacific
  - 5.3.1.4. Latin America
  - 5.3.1.5. Middle East & Africa

6. North America Microbial Algae Products Market Outlook, 2018 - 2031

6.1. North America Microbial Algae Products Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Astaxanthin
  - 6.1.1.2. B-Carotene
  - 6.1.1.3. Spirulina
  - 6.1.1.4. Chlorella
  - 6.1.1.5. PUFA
  - 6.1.1.6. Lutein
  - 6.1.1.7. Others
6.2. North America Microbial Algae Products Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Food & Beverage
  - 6.2.1.2. Dietary Supplement & Pharmaceutical
  - 6.2.1.3. Personal Care
  - 6.2.1.4. Animal Feed & Aquaculture
  - 6.2.1.5. Others
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. North America Microbial Algae Products Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. U.S. Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.2. U.S. Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.3. Canada Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.4. Canada Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Microbial Algae Products Market Outlook, 2018 - 2031

7.1. Europe Microbial Algae Products Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Astaxanthin
  - 7.1.1.2. B-Carotene
  - 7.1.1.3. Spirulina
  - 7.1.1.4. Chlorella
  - 7.1.1.5. PUFA
  - 7.1.1.6. Lutein
  - 7.1.1.7. Others
7.2. Europe Microbial Algae Products Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Food & Beverage
  - 7.2.1.2. Dietary Supplement & Pharmaceutical
  - 7.2.1.3. Personal Care
  - 7.2.1.4. Animal Feed & Aquaculture
  - 7.2.1.5. Others
- 7.2.2. Attractiveness Analysis
7.3. Europe Microbial Algae Products Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Germany Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.2. Germany Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.3. U.K. Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.4. U.K. Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.5. France Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.6. France Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.7. Italy Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.8. Italy Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.9. Turkey Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.10. Turkey Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.11. Russia Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.12. Russia Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.13. Rest of Europe Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.14. Rest of Europe Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Microbial Algae Products Market Outlook, 2018 - 2031

8.1. Asia Pacific Microbial Algae Products Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Astaxanthin
  - 8.1.1.2. B-Carotene
  - 8.1.1.3. Spirulina
  - 8.1.1.4. Chlorella
  - 8.1.1.5. PUFA
  - 8.1.1.6. Lutein
  - 8.1.1.7. Others
8.2. Asia Pacific Microbial Algae Products Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Food & Beverage
  - 8.2.1.2. Dietary Supplement & Pharmaceutical
  - 8.2.1.3. Personal Care
  - 8.2.1.4. Animal Feed & Aquaculture
  - 8.2.1.5. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Asia Pacific Microbial Algae Products Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. China Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.2. China Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.3. Japan Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.4. Japan Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.5. South Korea Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.6. South Korea Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.7. India Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.8. India Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.9. Southeast Asia Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.10. Southeast Asia Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.11. Rest of Asia Pacific Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.12. Rest of Asia Pacific Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Microbial Algae Products Market Outlook, 2018 - 2031

9.1. Latin America Microbial Algae Products Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Astaxanthin
  - 9.1.1.2. B-Carotene
  - 9.1.1.3. Spirulina
  - 9.1.1.4. Chlorella
  - 9.1.1.5. PUFA
  - 9.1.1.6. Lutein
  - 9.1.1.7. Others
9.2. Latin America Microbial Algae Products Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Food & Beverage
  - 9.2.1.2. Dietary Supplement & Pharmaceutical
  - 9.2.1.3. Personal Care
  - 9.2.1.4. Animal Feed & Aquaculture
  - 9.2.1.5. Others
- 9.2.2. BPS Analysis/Market Attractiveness Analysis
9.3. Latin America Microbial Algae Products Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. Brazil Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 9.3.1.2. Brazil Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 9.3.1.3. Mexico Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 9.3.1.4. Mexico Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 9.3.1.5. Argentina Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 9.3.1.6. Argentina Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 9.3.1.7. Rest of Latin America Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 9.3.1.8. Rest of Latin America Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 9.3.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Microbial Algae Products Market Outlook, 2018 - 2031

10.1. Middle East & Africa Microbial Algae Products Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 10.1.1. Key Highlights
  - 10.1.1.1. Astaxanthin
  - 10.1.1.2. B-Carotene
  - 10.1.1.3. Spirulina
  - 10.1.1.4. Chlorella
  - 10.1.1.5. PUFA
  - 10.1.1.6. Lutein
  - 10.1.1.7. Others
10.2. Middle East & Africa Microbial Algae Products Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 10.2.1. Key Highlights
  - 10.2.1.1. Food & Beverage
  - 10.2.1.2. Dietary Supplement & Pharmaceutical
  - 10.2.1.3. Personal Care
  - 10.2.1.4. Animal Feed & Aquaculture
  - 10.2.1.5. Others
- 10.2.2. BPS Analysis/Market Attractiveness Analysis
10.3. Middle East & Africa Microbial Algae Products Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 10.3.1. Key Highlights
  - 10.3.1.1. GCC Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 10.3.1.2. GCC Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 10.3.1.3. South Africa Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 10.3.1.4. South Africa Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 10.3.1.5. Egypt Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 10.3.1.6. Egypt Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 10.3.1.7. Nigeria Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 10.3.1.8. Nigeria Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 10.3.1.9. Rest of Middle East & Africa Microbial Algae Products Market by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 10.3.1.10. Rest of Middle East & Africa Microbial Algae Products Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 10.3.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape

11.1. By End User vs by Product Type Heatmap
11.2. Company Market Share Analysis, 2022
11.3. Competitive Dashboard
11.4. Company Profiles
- 11.4.1. Cyanotech Corporation
  - 11.4.1.1. Company Overview
  - 11.4.1.2. Product Portfolio
  - 11.4.1.3. Financial Overview
  - 11.4.1.4. Business Strategies and Development
- 11.4.2. DSM N.V.
  - 11.4.2.1. Company Overview
  - 11.4.2.2. Product Portfolio
  - 11.4.2.3. Financial Overview
  - 11.4.2.4. Business Strategies and Development
- 11.4.3. DIC Corporation
  - 11.4.3.1. Company Overview
  - 11.4.3.2. Product Portfolio
  - 11.4.3.3. Financial Overview
  - 11.4.3.4. Business Strategies and Development
- 11.4.4. EID Parry (India) Ltd
  - 11.4.4.1. Company Overview
  - 11.4.4.2. Product Portfolio
  - 11.4.4.3. Financial Overview
  - 11.4.4.4. Business Strategies and Development
- 11.4.5. Chr. Hansen Holding A/S
  - 11.4.5.1. Company Overview
  - 11.4.5.2. Product Portfolio
  - 11.4.5.3. Financial Overview
  - 11.4.5.4. Business Strategies and Development
- 11.4.6. BGG.
  - 11.4.6.1. Company Overview
  - 11.4.6.2. Product Portfolio
  - 11.4.6.3. Financial Overview
  - 11.4.6.4. Business Strategies and Development
- 11.4.7. Divi's Laboratories Ltd.
  - 11.4.7.1. Company Overview
  - 11.4.7.2. Product Portfolio
  - 11.4.7.3. Financial Overview
  - 11.4.7.4. Business Strategies and Development
- 11.4.8. NOW Foods.
  - 11.4.8.1. Company Overview
  - 11.4.8.2. Product Portfolio
  - 11.4.8.3. Financial Overview
  - 11.4.8.4. Business Strategies and Development
- 11.4.9. Fuji Chemicals Industries Co. Ltd.
  - 11.4.9.1. Company Overview
  - 11.4.9.2. Product Portfolio
  - 11.4.9.3. Financial Overview
  - 11.4.9.4. Business Strategies and Development
- 11.4.10. Naturex S.A.
  - 11.4.10.1. Company Overview
  - 11.4.10.2. Product Portfolio
  - 11.4.10.3. Financial Overview
  - 11.4.10.4. Business Strategies and Development