Microalgae Market Report: Trends, Forecast and Competitive Analysis to 2030

Microalgae Trends and Forecast

The future of the global microalgae market looks promising with opportunities in the dietary supplements, food/feed, pharmaceutical, and cosmetic markets. The global microalgae market is expected to grow with a CAGR of 5.3% from 2024 to 2030. The major drivers for this market are increasing usage of algal protein in dietary supplements and food industry and significantly growing cosmetic industry.

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Microalgae by Segment

The study includes a forecast for the global microalgae by type, application, and region.

Microalgae Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Spirulina
• Chlorella
• Dunaliella Salina
• Aphanizomenon Flos-Aquae

Microalgae Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Dietary Supplements
• Food/Feed
• Pharmaceutical
• Cosmetic
• Others

Microalgae Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Microalgae Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies microalgae companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the microalgae companies profiled in this report include-

• Algenol Biotech
• Cellana
• Cyanotech
• DIC
• E.I.D Parry
• Fuqing King Dnarmsa Spirulina
• Kent Bioenergy

Microalgae Market Insights

Lucintel forecasts that spirulina will remain the largest segment over the forecast period as it ensures better efficiency for the production of dietary supplements.

Within this market, dietary supplement will remain the largest segment due to increasing demand of microalgae for the production of pills, powders and capsules.

North America will remain the largest over the forecast period due to increasing demand from the cosmetic, dietary supplements and food/feed industries in the region.

Features of the Global Microalgae Market

Market Size Estimates: Microalgae market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Microalgae market size by type, application, and region in terms of value ($B).

Regional Analysis: Microalgae market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the microalgae market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the microalgae market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for microalgae market?

Answer: The global microalgae market is expected to grow with a CAGR of 5.3% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the microalgae market?

Answer: The major drivers for this market are increasing usage of algal protein in dietary supplements and food industry and significantly growing cosmetic industry.

Q3. What are the major segments for microalgae market?

Answer: The future of the microalgae market looks promising with opportunities in the dietary supplements, food/feed, pharmaceutical, and cosmetic markets.

Q4. Who are the key microalgae market companies?

Answer: Some of the key microalgae companies are as follows:

• Algenol Biotech
• Cellana
• Cyanotech
• DIC
• E.I.D Parry
• Fuqing King Dnarmsa Spirulina
• Kent Bioenergy

Q5. Which microalgae market segment will be the largest in future?

Answer: Lucintel forecasts that spirulina will remain the largest segment over the forecast period as it ensures better efficiency for the production of dietary supplements.

Q6. In microalgae market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest over the forecast period due to increasing demand from the cosmetic, dietary supplements and food/feed industries in the region.

Q7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the microalgae market by type (spirulina, chlorella, dunaliella salina, and aphanizomenon flos-aquae), application (dietary supplements, food/feed, pharmaceutical, cosmetic, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?