Global Algae Biofuel Market Size was valued at USD 10.4 Bn in 2024 and is predicted to reach USD 19.0 Bn by 2034 at a 6.4% CAGR during the forecast period for 2025-2034.
Global algae biofuel uses algae to produce oils that are rich in energy. Popular biofuels such as corn and sugarcane have alternatives in the form of algae fuels. When made from seaweed, it is called seaweed fuel. During the projected period, the global algae biofuel market is anticipated to experience growth due to a number of factors, including the increasing demand for detergent in developing nations, fuel in various end-use industries, and the need for environmentally friendly and sustainable energy. Another factor fueling the aviation industry’s rising need for affordable fuels is expected to boost the market for global algae biofuels.
Additionally, market participants should anticipate more lucrative opportunities due to the government’s growing efforts to promote the use of renewable energy sources and reduce carbon emissions. However, the global algal biofuel industry is slowing down its growth due to a lack of available capital, high cost, and outdated technology are preventing it from reaching its full potential. These issues are anticipated to impede the market’s progress. The global algal biofuel industry is expected to continue rising in the coming years due to a number of factors, such as improvements in raw material technology, continuous research & development, and an increase in the ultimate production volume of biofuels.
Some of the Major Key Players in the Algae Biofuel Market are:
The global algae biofuel market is segmented based on end-use industry, type, process, and raw material. Based on the end-use industry, the market is segmented into transportation, power generation, and others. By type, the market is segmented into bioethanol, biodiesel, biogas, and others. By process, the market is segmented into chemical, thermochemical, and biochemical. By raw material, the market is segmented into spirulina, chlorella, dunaliella, and others.
The power generation global algae biofuel market is expected to hold a major global market share in 2023. Due to a renewable and less carbon-intensive substitute for fossil fuels, algae biofuels fit effectively with the worldwide trend toward sustainable energy in the fight against climate change. Power generation applications can benefit from algal biofuels due to their high energy content and relatively smaller environmental imprint. In addition, biofuels are rising in favor as a means for governments around the world to achieve their climate goals and cut emissions of greenhouse gases. Power companies are being incentivized to use cleaner energy sources by the current regulatory climate.
Spirulina is growing because it has a better sustainability profile and more potential output per acre due to its fast growth rate and reduced land use needs. Biotechnological developments in algae culture and processing are also making it easier and cheaper to transform algae such as spirulina into biofuels, growing this segment.
The North American global algae biofuel market is expected to register the highest market share in revenue in the near future. It can be attributed to the decreased emissions of carbon dioxide and reliance on fossil fuels, fostering an atmosphere that is conducive to investments in algal biofuels and quickening the rate of innovation and commercialization within the algae biofuel industry.
In addition, Asia Pacific is projected to grow rapidly in the global algae biofuel market because of rising consumer interest in renewable fuels, robust demand for bioethanol production, and rising investment in renewable and bio-based energy sources by both public and private entities. Additionally, a positive growth driver is the favorable government programs that encourage the use of renewable energy sources and global businesses toward the expanding markets of the Asia Pacific region.
| Report Attribute | Specifications |
| Market Size Value In 2024 | USD 10.4 Bn |
| Revenue Forecast In 2034 | USD 19.0 Bn |
| Growth Rate CAGR | CAGR of 6.4% from 2025 to 2034 |
| Quantitative Units | Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
| Historic Year | 2021 to 2024 |
| Forecast Year | 2025-2034 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | Fuel / Product Type, Feedstock / Organism, Cultivation / Production Process, Conversion / Upgrading Technology and End-Use / Application Sector |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
| Competitive Landscape | Viridos (formerly Synthetic Genomics), Algenol Biotech LLC, Cellana Inc., Sea6 Energy Private Ltd., Algae Systems LLC, Solix Biofuels Inc., Aurora Algae, Manta Biofuel Inc., AlgaEnergy N.A. Inc., Heliae Development LLC, Reliance Life Sciences Pvt. Ltd., Algaeventure Systems (AVS), Cell Valley Labs, Algenuity Ltd., Aliga microalgae, TransAlgae, Bloom Biotech, NeoEarth, Checkerspot, Algae Floating Systems Inc., GEOALGAE / Blue Evolution etc., SunChem (macro algae fuels), Aqua-AG / Aquatic Energy, Algoil Energy Corp., Algae-C / Algae-C Corporation, Blue Marble Energy Inc., Culture BioSystems Inc., Desert Sweet Biofuels, Pond Technologies Inc., Alfa Laval AB and Others. |
| Customization Scope | Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
| Pricing And Available Payment Methods | Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Algae Biofuel Market Snapshot
Chapter 4. Global Algae Biofuel Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Fuel / Product Type Estimates & Trend Analysis
5.1. by Fuel / Product Type & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following Fuel / Product Type:
5.2.1. Biodiesel (FAME)
5.2.2. Bio-crude / Renewable Diesel / HVO
5.2.3. Bio-Jet / Sustainable Aviation Fuel (SAF)
5.2.4. Bioethanol
5.2.5. Biogas / Biomethane
Chapter 6. Market Segmentation 2: by Feedstock / Organism Estimates & Trend Analysis
6.1. by Feedstock / Organism & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following Process:
6.2.1. Microalgae
6.2.1.1. High-lipid strains (e.g., Nannochloropsis, Chlorella)
6.2.1.2. Other microalgae
6.2.2. Macroalgae (seaweeds)
6.2.3. Cyanobacteria / Blue-green algae
Chapter 7. Market Segmentation 3: by Cultivation / Production Process Estimates & Trend Analysis
7.1. by Cultivation / Production Process & Market Share, 2024 & 2034
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Raw Material:
7.2.1. Open Raceway Ponds
7.2.2. Closed Photobioreactors (PBR)
7.2.3. Hybrid Systems (Pond + PBR)
7.2.4. Heterotrophic Fermentation
Chapter 8. Market Segmentation 4: by End-User Industry Estimates & Trend Analysis
8.1. by End-User Industry & Market Share, 2024 & 2034
8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by End-User Industry:
8.2.1. Road Transportation
8.2.2. Aviation (SAF)
8.2.3. Marine / Shipping
8.2.4. Power Generation & CHP
8.2.5. Industrial Heat
8.2.6. Others
Chapter 9. Market Segmentation 5: by Conversion / Upgrading Technology Estimates & Trend Analysis
9.1. by Conversion / Upgrading Technology & Market Share, 2024 & 2034
9.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following Conversion / Upgrading Technology:
9.2.1. Transesterification
9.2.2. Hydrothermal Liquefaction (HTL) / Thermochemical Upgrading
9.2.3. Anaerobic Digestion / Gasification
9.2.4. Fermentation
9.2.5. Others
Chapter 10. Algae Biofuel Market Segmentation 6: Regional Estimates & Trend Analysis
10.1. North America
10.1.1. North America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
10.1.2. North America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Process, 2021-2034
10.1.3. North America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Raw Material, 2021-2034
10.1.4. North America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by End-User Industry, 2021-2034
10.1.5. North America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Upgrading Technology, 2021-2034
10.1.6. North America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
10.2. Europe
10.2.1. Europe Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
10.2.2. Europe Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Process, 2021-2034
10.2.3. Europe Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Raw Material, 2021-2034
10.2.4. Europe Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by End-User Industry, 2021-2034
10.2.5. Europe Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Upgrading Technology, 2021-2034
10.2.6. Europe Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
10.3. Asia Pacific
10.3.1. Asia Pacific Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
10.3.2. Asia Pacific Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Process, 2021-2034
10.3.3. Asia-Pacific Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Raw Material, 2021-2034
10.3.4. Asia Pacific Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by End-User Industry, 2021-2034
10.3.5. Asia Pacific Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Upgrading Technology, 2021-2034
10.3.6. Asia Pacific Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
10.4. Latin America
10.4.1. Latin America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
10.4.2. Latin America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Process, 2021-2034
10.4.3. Latin America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Raw Material, 2021-2034
10.4.4. Latin America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by End-User Industry, 2021-2034
10.4.5. Latin America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Upgrading Technology, 2021-2034
10.4.6. Latin America Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
10.5. Middle East & Africa
10.5.1. Middle East & Africa Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
10.5.2. Middle East & Africa Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Process, 2021-2034
10.5.3. Middle East & Africa Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Raw Material, 2021-2034
10.5.4. Middle East & Africa Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by End-User Industry, 2021-2034
10.5.5. Middle East & Africa Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by Upgrading Technology, 2021-2034
10.5.6. Middle East & Africa Algae Biofuel Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
Chapter 11. Competitive Landscape
11.1. Major Mergers and Acquisitions/Strategic Alliances
11.2. Company Profiles
11.2.1. Viridos (formerly Synthetic Genomics)
11.2.2. Algenol Biotech LLC
11.2.3. Cellana Inc.
11.2.4. Sea6 Energy Private Ltd.
11.2.5. Algae Systems LLC
11.2.6. Solix Biofuels Inc.
11.2.7. Aurora Algae
11.2.8. Manta Biofuel Inc.
11.2.9. AlgaEnergy N.A. Inc.
11.2.10. Heliae Development LLC
11.2.11. Reliance Life Sciences Pvt. Ltd.
11.2.12. Algaeventure Systems (AVS)
11.2.13. Cell Valley Labs
11.2.14. Algenuity Ltd.
11.2.15. Aliga microalgae
11.2.16. TransAlgae
11.2.17. Bloom Biotech
11.2.18. NeoEarth
11.2.19. Checkerspot
11.2.20. Algae Floating Systems Inc.
11.2.21. GEOALGAE / Blue Evolution etc.
11.2.22. SunChem (macro algae fuels)
11.2.23. Aqua-AG / Aquatic Energy
11.2.24. Algoil Energy Corp.
11.2.25. Algae-C / Algae-C Corporation
11.2.26. Blue Marble Energy Inc.
11.2.27. Culture BioSystems Inc.
11.2.28. Desert Sweet Biofuels
11.2.29. Pond Technologies Inc.
11.2.30. Alfa Laval AB
11.2.31. Other Prominent Players
Algae Biofuel Market- By Fuel / Product Type
Algae Biofuel Market- By Feedstock / Organism
Algae Biofuel Market- By Cultivation / Production Process
Algae Biofuel Market- By Conversion / Upgrading Technology
Algae Biofuel Market- By End-Use / Application Sector
Algae Biofuel Market- By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-