Global Red Algae Market

Report ID : 1471 | Published : 2022-11-30 | Pages: | Format: PDF/EXCEL

The market size of the Global Red Algae Market in the year 2021 is valued at 25.59 million and is predicted to reach 55.18 million by the year 2030 at an 9.14% CAGR during the forecast period.

Red algae have also been shown to help with urinary tract infections, asthma, skin illnesses, stomach ailments, obesity, and high cholesterol levels. Due to all these health benefits, this market will likely grow at the fastest rate during the forecast period. Red algae are the most favored nutritional supplement for customers on weight reduction regimens, fueling demand, which is also predicted to rise during the projection period. Furthermore, because of its nutritional and physiological benefits, the red algae market is rapidly expanding in both the developed and developing worlds. Red algae are the most favored dietary supplement for consumers searching for weight reduction regimens, which is driving the market and is likely to expand throughout the forecast period. Rising disease incidences such as diabetes and high blood pressure, rising demand for plant-derived protein, growth in international disposable income among people, a growing global population, increasing consumption of food cultivation, and rising health awareness of individuals are some of the major and critical factors that will likely greatly enhance the growth of the red algae market.

Additionally, the purchasing of nutritional supplements may increase due to changing food patterns and fast-paced lifestyle needs, particularly among the younger population. Inadequate protein, amino acid, and antioxidant intake are linked to increased anxiety and depression, as well as muscle and bone degeneration. A quick shift in customer desire for high-quality dietary supplements, self-medication, and a significant increase in disposable cash will help red algae production.

Market Segmentation:

The red algae market is segmented by type, application, and form. Based on type, the market is segmented into freshwater red algae, marine red algae and calcified red algae. Based on application, the market is segmented into food and beverages, medical and pharmaceutical, industrial applications, cosmetics, and personal care. Based on the form, the market is divided into food and beverages,  industrial applications, medical and pharmaceutical, cosmetics and personal care industries.

Based on form, the naturally dried form segment is a major contributor to the red algae market.

The naturally dried form segment is predicted to increase at the fastest revenue rate in the market due to the rising popularity of seaweed powder in the food and cosmetics industries. Furthermore, its numerous advantages, such as a relatively long shelf life and ease of transit and storage, are projected to help the expansion of this industry.

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

The food and beverages segment is also predicted to have the largest revenue share in the market during the forecast period, owing to rising demand for organic foods, increased consumption of plant proteins and vegan goods, and increased use of seaweed for human consumption. Furthermore, rapid population growth increased awareness of the health advantages of seaweeds, changes in consumer lifestyle patterns and taste preferences, healthy eating habits, and rising disposable income are projected to drive the expansion of this market.

The North American red algae market holds a significant regional revenue share.

The North American red algae market is expected to register the highest market share in revenue soon. Rising consumer awareness has resulted in a significant demand for food and feed additives from growing markets. The growing demand for red algae in the region's diverse countries may be a critical growth element. The ever-increasing need for plant-based protein has boosted the North American market for red algal products. In addition, Asia Pacific is projected to grow rapidly in the global red algae market because of the increased use of high-algal goods, supplements, and food products due to increased consumer awareness. Furthermore, the rising demand for algae in the nutraceutical and pharmaceutical industries is driving market expansion in this region.

Competitive Landscape

The key players in the red algae market have shifted their focus toward product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance their product portfolio and strengthen their global market footprint. Some major key players in the Red Algae market are ATCHA LLC., Algea, SIMRIS ALG AB, Alga Technologies, AlgaeCan Biotech Ltd., Algix, LLC., Cargill Incorporated, Cyanotech Corporation.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Red Algae Market Snapshot

Chapter 4. Global Red Algae 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 Product Type Estimates & Trend Analysis

5.1. by Product Type & Market Share, 2019 & 2030

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

5.2.1. Freshwater Red Algae

5.2.2. Marine Red Algae

5.2.3. Calcified Red Alage

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

6.1. by Application & Market Share, 2019 & 2030

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

6.2.1. Food and Beverages

6.2.2. Medical and Pharmaceutical

6.2.3. Industrial Applications

6.2.4. Cosmetics and Personal care Industry

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

7.1. by Form & Market Share, 2019 & 2030

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

7.2.1. Powdered Form

7.2.2. Liquid Form

7.2.3. Natural Dried Form

7.2.4. Gel Form

Chapter 8. Red Algae Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

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

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

8.1.3. North America Red Algae Market revenue (US$ Million) by Form, 2022-2030

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

8.2. Europe

8.2.1. Europe Red Algae Market revenue (US$ Million) by Product Type, 2022-2030

8.2.2. Europe Red Algae Market revenue (US$ Million) by Application, 2022-2030

8.2.3. Europe Red Algae Market revenue (US$ Million) by Form, 2022-2030

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

8.3. Asia Pacific

8.3.1. Asia Pacific Red Algae Market revenue (US$ Million) by Product Type, 2022-2030

8.3.2. Asia Pacific Red Algae Market revenue (US$ Million) by Application, 2022-2030

8.3.3. Asia-Pacific Red Algae Market revenue (US$ Million) by Form, 2022-2030

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

8.4. Latin America

8.4.1. Latin America Red Algae Market revenue (US$ Million) by Product Type, 2022-2030

8.4.2. Latin America Red Algae Market revenue (US$ Million) by Application, 2022-2030

8.4.3. Latin America Red Algae Market revenue (US$ Million) by Form, 2022-2030

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

8.5. Middle East & Africa

8.5.1. Middle East & Africa Red Algae Market revenue (US$ Million) by Product Type, 2022-2030

8.5.2. Middle East & Africa Red Algae Market revenue (US$ Million) by Application, 2022-2030

8.5.3. Middle East & Africa Red Algae Market revenue (US$ Million) by Form, 2022-2030

8.5.4. Middle East & Africa Red Algae 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. ATCHA LLC.

9.2.2. Algae

9.2.3. SIMRIS ALG AB

9.2.4. Alga Technologies

9.2.5. AlgaeCan Biotech Ltd.

9.2.6. Algix LLC

9.2.7. Cargill Incorporated

9.2.8. Cyanotech Corporation

9.2.9. Other Prominent Players

By Type

  • Freshwar Red Algae
  • Marine Red Algae
  • Calcified Red Alage

By Application

  • Food and Beverages
  • Medical and Pharmaceutical
  • Industrial Applications
  • Cosmetics and Personal care Industry

By Form

  • Powdered Form
  • Liquid Form
  • Natural Dired Form
  • Gel Form

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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