Algae are the varied group of marine species that possess the capability to conduct photosynthesis. Many are familiar with such algae, such as seaweeds, pond scum, or lake algal blooms. The products obtained from algae find applications in many sectors, including food & beverage, feed, nutraceutical, personal care, and pharmaceutical. It is expected to be a major catalyst for the algae products business growth. Moreover, direct algae consumption as a food commodity makes it a safe natural food with high nutritional value, which is a necessity for the increasing population that could also be considered as a driver for the algae products industry.
Mounting population and increasing demand for food and customization of functional food product range by producers are the reasons expected to improve the growth of the algae products market. However, intake of algae-based prescription drug products, such as sun chlorella, microalgae, spirulina caused gastrointestinal, abdominal, and nausea health problem, is likely to hinder the market growth during the forecast period. Besides, the development of commercial byproducts and algae-based biofuel production technology is anticipated to drive the market growth.
The lockdown period around the world had some impact on the seafood export sector on account of logistics issue. The governments had instructed the state and other government bodies to provide all logistical support for the smooth functioning of seafood export sector and the situation has improved.
However, globally the sector was affected due to Covid-19 and the associated lockdown. This has resulted in cancellation of several orders, reduced and delayed payments, slowdown of cargo movements, and difficulty in getting new orders and renewal of existing orders.
The report analyses the Global Algae Products Market based on Type, Application, Form and Geography. The various type of algae products includes Lipids, Carrageenan, Carotenoids, Alginate, Algal Protein. The market finds application in Food & Beverage, Nutraceuticals & Dietary Supplements, Personal Care, Feed, Pharmaceuticals etc. The algae products are made available to the customers in solid and liquid form. The market is studied for the key countries North America, Europe, Asia Pacific and Rest of the World.
The key companies in the Algae products market are DSM, BASF, Cyanotech Corporation, Cargill, Dowdupont, Kerry, Ingredion, CP Kelco, Corbion, Roquette Frères, Fenchem Biotek, Algatechnologies, E.I.D. Parry amongst others. New product launches and strategic acquisitions is primarily focused by many industry players in the region so as to maintain competitive edge in the market.
The report analyses the Global Algae Products market based on type, application, form and geography. Based on type it is segmented into lipids, carrageenan, carotenoids, alginate, algal protein. Based on application, it is classified as food & beverage, nutraceuticals & dietary supplements, personal care, feed, pharmaceuticals. By form the market is categorized into solid and liquid. Geographically, the market is studied for the key countries of North America, Europe, Asia Pacific and rest of the World.
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