Algae Products Market | Business Insights, Trends, Outlook and Key Players 2021-2031 | yanotech Corporation, Kerry Group, Ingredion Incorporated

Posted on 2021-02-26 by Future Market Insights, Inc in Food & Beverage // 0 Comments

Market disrupting production platforms for food protein are underway which claim to generate recombinant proteins akin to those found in human breast milk and bovine milk. Set to revolutionize the food and beverage industry, a single-celled green algae species can release multiple proteins that are found in both plants and animal cells. Such protein rich algae would provide all the essential amino acids, fibers, iron, fatty acids and calcium needed by an infant in its first few months of development. With algae being given the moniker of ‘Food of the Future’, it is all set to herald a momentous growth in the algae products market.

Another important aspect of the growth of the algae products market is that environment friendly alternatives are growing in demand as biodegradable plastics made from naturally occurring substances such as algae are replacing fossil-fuel polymers. The algae products market is all set to get a jumpstart with algae being cultivated, harvested and dried to produce a starch that will unequivocally be used as a raw material for bio-plastics.

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Manufacturers and large scale businesses looking to convert their sustainability ambitions into efficient and cost-effective actions. As the green revolution grips the globe, algae products have found an innovative way to boost the output of solar panels by combining them with controlled algae blooms. These algae products work by photosynthesizing in sub-optimal lighting, amid solar technology to enhance the production capability of these solar panels.

Market Outlook

Algae are the group of plant like microorganisms that convert sunlight, carbon dioxide and nutrients into organic matter thus, replacing many commonly used oils such as fossil, fish and palm and proteins such as animal and plant protein. An estimated 200 species of algae are currently being used across various application areas including food, feed and fertilizer applications. Algae products are derived from two large broad categories of algae including, macro-algae and micro-algae.

Microalgae are small single cell microorganism while the microalgae are large aquatic plants. Algae products derived from microalgae are primarily used in bio plastics, biofuels, and fertilizers, pharmaceutical applications while algae products derived from the microalgae are used in cosmetics, pharmaceuticals and food additives. Some of the commercially products algae products are derived from algae species such as, Spirulina and Chlorella. The global algae products market is expected to witness remarkable growth attributable to growing consumers demand for products with natural origin.

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Global Algae Products: Market Segmentation

On the basis of product type, the global algae products market has been segmented as –

Hydrocolloids
Carotenoids and Pigments
- Lutein
- Beta Carotene
- Lycopene
- Astaxanthin
- Fucoxanthin
- Others
Antioxidants
Lipids
Proteins
Others

On the basis of form, the global algae products market has been segmented as –

Powder
Liquid

On the basis of application, the global algae products market has been segmented as –

Food and Beverages
Dietary Supplements & Pharmaceuticals
Animal & Aquaculture Feed
Cosmetics & Personal Care
Others

On the basis of sales channel, the global Algae Products market has been segmented as –

Direct
Indirect
- Store Based Retailing
  - Hypermarket/Supermarket
  - Pharmaceutical/Drug Stores
  - Specialty Stores
  - Others
- Online

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Global Algae Products Market: Key Players

Some of the key players operating in the global algae products market are, Cargill Inc., The Dow Chemical Company, BASF SE, Cyanotech Corporation, Kerry Group, Ingredion Incorporated, Corbion N.V., Roquette Frères, CP Kelco, Fenchem Biotek, Algatechnologies, Koninklijke DSM N.V., among others.

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