Global Algae-Based Ingredients Market

Report ID : 1461 | Published : 2022-11-23 | Pages: | Format: PDF/EXCEL

The market size of the Global Algae-Based Ingredients Market in the year 2021 is valued at 3.66 billion and is predicted to reach 6.34 billion by the year 2030 at an 6.52% CAGR during the forecast period.

A range of finished products, including ice cream, anti-obesity, cakes, anti-diabetic medications, aquatic feed ingredients, toothpaste, and moisturizers, contain algae that have been grown using both agricultural and aquaculture techniques. While other items like alginate, agar, and hydrocolloids are used as gelling, suspending, thickening, and stabilizing agents, dietary components, including proteins, vitamins, carotenoids, and fatty acids, are isolated as primary and secondary metabolites from algae. Over the projected timeframe, increased consumer knowledge of the health benefits of products may present new opportunities for the sector to expand. In the upcoming years, market expansion may be supported by the rising demand for and consumption of nutraceutical products, which is supported by the prevalence of several metabolic and health issues.

In addition, the significant shift in eating patterns brought on by the growth in junk food intake has led to an increase in the occurrence of several diseases like diabetes, heart disease, obesity, chronic illnesses, etc., brought on by poor nutrition and a sedentary lifestyle. The International Diabetes Federation has estimated that 20–25% of adults worldwide suffer from metabolic syndrome. Compared to those without the syndrome, those with it are five times more likely to develop type 2 diabetes, three times likely to have a heart attack or stroke, and twice as likely to die. Shortly, due to their established health benefits, product demand will be boosted by the expanding use of algae-based ingredients in nutraceutical applications.

Market Segmentation:

The algae-based ingredients market is segmented on the Ingredients, Source And Application. Based on ingredients, the market is segmented into carrageenan, alginates, algae protein, beta carotene, algae oil, agar and others. Based on source, the algae-based ingredients market is segmented into red algae, green algae, brown algae and others. Based on the application, the algae-based ingredients market is segmented into food and beverages, personal care, nutraceuticals (dietary supplements, functional foods, others), pharmaceuticals, animal feed (poultry, swine, cattle, aquaculture, pet food) and others.

Based on ingredients, the carrageenan segment is accounted as a significant contributor to the algae-based ingredients market.

Based on ingredients, the market is segmented into carrageenan, alginates, algae protein, beta carotene, algae oil, agar and others. The carrageenan category is anticipated to grow significantly over the forecast period. The substance is frequently known for being used as a thickening agent in foods with minimal nutritional value. It is well-known in the pharmaceutical industry to treat various illnesses, including the common cold, cough, bronchitis, tuberculosis, and other intestinal problems. Additionally, the rising use of carrageenan because of its antibacterial and antiviral qualities would boost product demand throughout the anticipated period.

The food and beverages segment witnessed growth at a rapid rate.

Based on the application, the algae-based ingredients market is segmented into food and beverages, personal care, nutraceuticals (dietary supplements, functional foods, others), pharmaceuticals, animal feed (poultry, swine, cattle, aquaculture, pet food) and others. The food and beverages grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the expected time as algal products are used more frequently in beverages, functional foods, and food additives. However, the personal care segment is projected to develop at the quickest rate during the forecast period. During the projected period, the algal product market growth is anticipated to be driven by consumer desire to look young and the development of novel natural ingredients.

The North American algae-based ingredients market holds a significant revenue share in the region.

The North American algae-based ingredients market is expected to register the highest market share in revenue shortly, and the US will gain the most significant market share in North America. Food and beverage, nutraceuticals, medicines, and dietary supplements are all expanding industries that have significantly impacted the US market's expansion. The nation's expanding population is another factor that is projected to boost the market for products made from algae. Additionally, the Asia Pacific is anticipated to grow at a significant rate over the course of the forecast period. Due to more health-conscious consumers, lipids like omega-3 are used more frequently in nutraceutical and dietary supplement products, generating a market opportunity for algae-based omega-3 products.

 

Competitive Landscape

Some major key players in the algae-based ingredients market are Corbion, Aliga Microalgae, Triton, Cargill, Gino Biotech, CP Kelco U.S. Inc., AEP Colloids, KIMIA, Marine Hydrocolloids, AgarGel, Hispanagar SA, Taiwan Chlorella Manufacturing Company, Bioriginal Food & Science Corp, LUS Health Ingredients BV, Manta Biofuel, and Algenol Biotech.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Algae-based Ingredients Market Snapshot

Chapter 4. Global Algae-based Ingredients 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 Ingredients Estimates & Trend Analysis

5.1. by Ingredients & Market Share, 2019 & 2030

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Ingredients:

5.2.1. Carrageenan

5.2.2. Alginates

5.2.3. Algae protein

5.2.4. Beta Carotene

5.2.5. Algae oil

5.2.6. Agar

5.2.7. Others

Chapter 6. Market Segmentation 2: by Source Estimates & Trend Analysis

6.1. by Source & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Source:

6.2.1. Red Algae

6.2.2. Green Algae

6.2.3. Brown Algae

6.2.4. Others

Chapter 7. Market Segmentation 3: by Application Estimates & Trend Analysis

7.1. by Application & Market Share, 2019 & 2030

7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Application:

7.2.1. Food and Beverages

7.2.2. Personal Care

7.2.3. Nutraceuticals

7.2.3.1. Dietary supplements

7.2.3.2. Functional Foods

7.2.3.3. Others

7.2.4. Pharmaceuticals

7.2.5. Animal Feed

7.2.5.1. Poultry

7.2.5.2. Swine

7.2.5.3. Cattle

7.2.5.4. Aquaculture

7.2.5.5. Pet Food

7.2.6. Others

Chapter 8. Algae-based Ingredients Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Algae-based Ingredients Market Revenue (US$ Million) Estimates and Forecasts by Ingredients, 2022-2030

8.1.2. North America Algae-based Ingredients Market Revenue (US$ Million) Estimates and Forecasts by Source, 2022-2030

8.1.3. North America Algae-based Ingredients Market revenue (US$ Million) by Application, 2022-2030

8.1.4. North America Algae-based Ingredients Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

8.2. Europe

8.2.1. Europe Algae-based Ingredients Market revenue (US$ Million) by Ingredients, 2022-2030

8.2.2. Europe Algae-based Ingredients Market revenue (US$ Million) by Source, 2022-2030

8.2.3. Europe Algae-based Ingredients Market revenue (US$ Million) by Application, 2022-2030

8.2.4. Europe Algae-based Ingredients Market revenue (US$ Million) by country, 2022-2030

8.3. Asia Pacific

8.3.1. Asia Pacific Algae-based Ingredients Market revenue (US$ Million) by Ingredients, 2022-2030

8.3.2. Asia Pacific Algae-based Ingredients Market revenue (US$ Million) by Source, 2022-2030

8.3.3. Asia-Pacific Algae-based Ingredients Market revenue (US$ Million) by Application, 2022-2030

8.3.4. Asia Pacific Algae-based Ingredients Market revenue (US$ Million) by country, 2022-2030

8.4. Latin America

8.4.1. Latin America Algae-based Ingredients Market revenue (US$ Million) by Ingredients, 2022-2030

8.4.2. Latin America Algae-based Ingredients Market revenue (US$ Million) by Source, 2022-2030

8.4.3. Latin America Algae-based Ingredients Market revenue (US$ Million) by Application, 2022-2030

8.4.4. Latin America Algae-based Ingredients Market revenue (US$ Million) by country, 2022-2030

8.5. Middle East & Africa

8.5.1. Middle East & Africa Algae-based Ingredients Market revenue (US$ Million) by Ingredients, 2022-2030

8.5.2. Middle East & Africa Algae-based Ingredients Market revenue (US$ Million) by Source, 2022-2030

8.5.3. Middle East & Africa Algae-based Ingredients Market revenue (US$ Million) by Application, 2022-2030

8.5.4. Middle East & Africa Algae-based Ingredients Market revenue (US$ Million) by country, 2022-2030

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Corbion

9.2.2. Aliga Microalgae

9.2.3. Triton

9.2.4. Cargill

9.2.5. Gino Biotech

9.2.6. CP Kelco U.S. Inc.

9.2.7. AEP Colloids

9.2.8. KIMIA

9.2.9. Marine Hydrocolloids

9.2.10. AgarGel

9.2.11. Hispanagar SA

9.2.12. Taiwan Chlorella Manufacturing Company

9.2.13. Bioriginal Food & Science Corp

9.2.14. LUS Health Ingredients BV

9.2.15. Manta Biofuel

9.2.16. Algenol Biotech

9.2.17. Other Prominent Players

By Ingredients-

  • Carrageenan
  • Alginates
  • Algae protein
  • Beta Carotene
  • Algae oil
  • Agar
  • Others

By Source-

  • Red Algae
  • Green Algae
  • Brown Algae
  • Others

By Application-

  • Food and Beverages
  • Personal Care
  • Nutraceuticals
    • Dietary supplements
    • Functional Foods
    • Others
  • Pharmaceuticals
  • Animal Feed
    • Poultry
    • Swine
    • Cattle
    • Aquaculture
    • Pet Food
  • Others

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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