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Asia-Pacific Microalgae-Based Products Market

2021

Asia-Pacific Microalgae-Based Products Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Spirulina, Chlorella, Astaxanthin, Beta Carotene, and Others) and Application (Food and Beverages, Animal Feed, Pharmaceuticals and Nutraceuticals, Personal Care, and Others)

Publication Month: Oct 2021 | Report Code: TIPRE00025164 | No. of Pages: 110 | Category: Food and Beverages | Status: Published

Market Insights

Asia-Pacific Microalgae-Based Products Market to Grow at a CAGR of 8.6% to reach US$ 665.67 million from 2021 to 2028

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The microalgae-based products market in APAC is expected to grow from US$ 349.46 million in 2021 to US$ 665.67 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2021 to 2028.


Australia, China, India, Japan, and South Korea are economies in APAC. Microalgae are considered to be an invaluable source of biomass portraying a diverse range of potential applications. The potential applications of microalgae have gone beyond food and beverages, pharmaceuticals and nutraceuticals, personal care products, and animal nutrition products. Various studies demonstrate the use of microalgae as biofuels, fertilizers, and wastewater treatment agents. For instance, microalgal species such as Scenedesmus obliquus have been proven for their viability in biofuel production. Researchers have made several attempts to achieve economic production through the genetic and metabolic engineering of microalgal strains. As per an article published by Springer Nature, in March 2018, microalgae is regarded as one of the most promising feedstock for bioenergy production. Biofuels derived from algal biomass release oxygen levels of 10–45% along with very low levels of sulfur. Such biofuels are non-polluting, sustainable, and reliable, and poses strong potential for fixing global CO2. Wastewater serves as a rich sources of nutrients needed for cultivation of microalgae, which help eliminate heavy metals, phosphates, and nitrates from the wastewater. The High Rate Algae Ponds (HRAPs) are emerging as an effective solution to treat wastewater. Further, cyanobacteria grown in vivo possess the capability of fixing atmospheric nitrogen (N2) as well as disposing it in the form of NH3 for the direct assimilation of plants. Other than this, the algal biomass can be effectively used as an ecological product for agricultural crops. Substances released by microalgae such as auxins and cytokinins are applied to promote plant growth and solubilizes phosphates; the algal biomass also acts as nutritious organic matter to improve overall soil fertility and crop quality. Hence, the microalgae has been proven as promising and sustainable sources meeting the demands of various industrial bases. However, the economic and commercial viability of its applications have not been achieved successfully and is still under the process of research and development.

The COVID-19 pandemic is anticipated to cause a significant economic loss in Asia-Pacific. The consequence and impact can be even worse, and they totally depend on the spread of the virus. The Asian economies have been hit hard due to the pandemic. Currently, India has recorded the highest number of cases, which is 31,411,262, with 420,996 deaths as of July 26, 2021. The emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect of pandemic upon GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia-Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and few other Asian countries, has altered the status of several industrial sectors. The governments of various Asia-Pacific economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdown, which have a direct impact upon the growth of industrial sectors. This may impact the demand for microalgae-based products. However, the Asia-Pacific Microalgae-Based Products market is expected to witness an increase in investment by existing players along with penetration of new players to tap the prevailing opportunities as well as cater to soaring demand for natural, healthy, clean-label products in post-pandemic times.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the microalgae-based products market. The APAC microalgae-based products market is expected to grow at a good CAGR during the forecast period.

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APAC Microalgae-Based Products Market Segmentation

APAC Microalgae-Based Products Market – By Product Type

  • Spirulina
  • Chlorella
  • Astaxanthin
  • Beta Carotene
  • Others

APAC Microalgae-Based Products Market – By Application

  • Food and Beverages
  • Animal Feed
  • Pharmaceuticals and Neutraceuticals
  • Personal Care
  • Others

APAC Microalgae-Based Products Market- By Country

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

APAC Microalgae-Based Products Market-Companies Mentioned

  • AstaReal
  • Cargill, Incorporated
  • Cyanotech Corporation
  • E.I.D. - Parry (India) Limited
  • Earthrise Nutritionals, Llc
  • Euglena Co, Ltd
  • Far East Bio-Tec Co., Ltd

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection:

3.2.2 Primary Interviews:

3.2.3 Hypothesis formulation:

3.2.4 Macro-economic factor analysis:

3.2.5 Developing base number:

3.2.6 Data Triangulation:

4. APAC Microalgae-Based Products Market Landscape

4.1 Market Overview

4.2 Porter’s Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Buyers

4.2.3 Threat of Substitutes

4.2.4 Threat of New Entrants

4.2.5 Intensity of Competitive Rivalry

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. APAC Microalgae-Based Products Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Increase in Demand for Microalgae in Pharmaceuticals and Nutraceuticals

5.1.2 Growing Focus towards Increased Algae Production

5.2 Market Restraints

5.2.1 Complex and Costly Manufacturing Process

5.3 Market Opportunities

5.3.1 Growth in Research in Applications and Commercial Viability of Microalgae

5.4 Future Trends

5.4.1 Significant Focus on Research and Development Activities to Expand Market

5.5 Impact Analysis of Drivers and Restraints

6. Microalgae-Based Products – APAC Market Analysis

6.1 Microalgae-Based Products Market Overview

6.2 Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

7. APAC Microalgae-Based Products Market Analysis – By Product Type

7.1 Overview

7.2 APAC Microalgae-Based Products Market Breakdown, by Type, 2020 & 2028

7.3 Spirulina

7.3.1 Overview

7.3.2 Spirulina: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

7.4 Chlorella

7.4.1 Overview

7.4.2 Chlorella: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

7.5 Astaxanthin

7.5.1 Overview

7.5.2 Astaxanthin: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

7.6 Beta Carotene

7.6.1 Overview

7.6.2 Beta Carotene: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

7.7 Others

7.7.1 Overview

7.7.2 Others: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

8. APAC Microalgae-Based Products Market Analysis – By Application

8.1 Overview

8.2 APAC Microalgae-Based Products Market Breakdown, by Application, 2020 & 2028

8.3 Food and Beverages

8.3.1 Overview

8.3.2 Food and Beverages: Microalgae-Based Products Market – Revenue and Forecast to 2028 (US$ Million)

8.4 Animal Feed

8.4.1 Overview

8.4.2 Animal Feed: Microalgae-Based Products Market – Revenue and Forecast to 2028 (US$ Million)

8.5 Pharmaceuticals and Nutraceuticals

8.5.1 Overview

8.5.2 Pharmaceuticals and Nutraceuticals: Microalgae-Based Products Market – Revenue and Forecast to 2028 (US$ Million)

8.6 Personal Care

8.6.1 Overview

8.6.2 Personal Care: Microalgae-Based Products Market – Revenue and Forecast to 2028 (US$ Million)

8.7 Others

8.7.1 Overview

8.7.2 Others: Microalgae-Based Products Market – Revenue and Forecast to 2028 (US$ Million)

9. APAC Microalgae-Based Products Market – Country Analysis

9.1 Overview

9.1.1 Asia Pacific: Microalgae-Based Products Market, by Key Country

9.1.1.1 Australia: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1 Australia: Microalgae-Based Products Market, by Type

9.1.1.1.2 Australia: Microalgae-Based Products Market, by Application

9.1.1.2 China: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1 China: Microalgae-Based Products Market, by Type

9.1.1.2.2 China: Microalgae-Based Products Market, by Application

9.1.1.3 India: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1 India: Microalgae-Based Products Market, by Type

9.1.1.3.2 India: Microalgae-Based Products Market, by Application

9.1.1.4 Japan: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1 Japan: Microalgae-Based Products Market, by Type

9.1.1.4.2 Japan: Microalgae-Based Products Market, by Application

9.1.1.5 South Korea: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.5.1 South Korea: Microalgae-Based Products Market, by Type

9.1.1.5.2 South Korea: Microalgae-Based Products Market, by Application

9.1.1.6 Rest of Asia Pacific: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.6.1 Rest of Asia Pacific: Microalgae-Based Products Market, by Type

9.1.1.6.2 Rest of Asia Pacific: Microalgae-Based Products Market, by Application

10. Overview – Impact of COVID-19 on Microalgae-based Products Market

10.1 Overview

11. Industry Landscape

11.1 Product & Service Launch

11.2 Business Planning and Strategy

12. Company Profiles

12.1 Cargill, Incorporated

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Earthrise Nutritionals, Llc

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 E.I.D. - Parry (India) Limited

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Cyanotech Corporation

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Euglena Co, Ltd

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Far East Bio-Tec Co., Ltd

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 AstaReal

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Glossary of Terms

LIST OF TABLES

Table 1. APAC Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

Table 2. Australia Microalgae-Based Products Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 3. Australia Microalgae-Based Products Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 4. China Microalgae-Based Products Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 5. China Microalgae-Based Products Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 6. India Microalgae-Based Products Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 7. India Microalgae-Based Products Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 8. Japan Microalgae-Based Products Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 9. Japan Microalgae-Based Products Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 10. South Korea Microalgae-Based Products Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 11. South Korea Microalgae-Based Products Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 12. Rest of Asia Pacific Microalgae-Based Products Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 13. Rest of Asia Pacific Microalgae-Based Products Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 14. Glossary of Terms, APAC Microalgae-Based Products Market

LIST OF FIGURES

Figure 1. APAC Microalgae-Based Products Market Segmentation

Figure 2. APAC Microalgae-Based Products Market Segmentation – By Country

Figure 3. APAC Microalgae-Based Products Market Overview

Figure 4. Spirulina Segment is Dominating the APAC Microalgae-Based Products Market

Figure 5. China Held Largest Share of APAC Microalgae-Based Products Market

Figure 6. APAC Microalgae-Based Products Market, Industry Landscape

Figure 7. Porter ‘s Five Forces Analysis for Microalgae-Based Products Market

Figure 8. Microalgae-Based Products Market– Ecosystem Analysis

Figure 9. Expert Opinion

Figure 10. APAC Microalgae-based products Market Impact Analysis of Drivers and Restraints

Figure 11. APAC: Microalgae-Based Products Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12. APAC Microalgae-Based Products Market Breakdown, By Product Type, 2020 & 2028 (%)

Figure 13. APAC Spirulina: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

Figure 14. APAC Chlorella: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

Figure 15. APAC Astaxanthin: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

Figure 16. APAC Beta Carotene: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

Figure 17. APAC Others: Microalgae-Based Products Market, Revenue and Forecast to 2028 (US$ Million)

Figure 18. APAC Microalgae-Based Products Market Breakdown, by End Use Industry, 2020 & 2028 (%)

Figure 19. APAC Food and Beverages: Microalgae-Based Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 20. APAC Animal Feed: Microalgae-Based Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 21. APAC Pharmaceuticals and Nutraceuticals: Microalgae-Based Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 22. APAC Personal Care: Microalgae-Based Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 23. APAC Others: Microalgae-Based Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 24. Asia Pacific: Microalgae-Based Products Market, by Key Country-Revenue 2020 (US$ Million)

Figure 25. Asia Pacific: Microalgae-Based Products Market Revenue Share, by Key Country (2020 & 2028)

Figure 26. Australia: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

Figure 27. China: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

Figure 28. India: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

Figure 29. Japan: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

Figure 30. South Korea: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

Figure 31. Rest of Asia Pacific: Microalgae-Based Products Market –Revenue and Forecast to 2028 (US$ Million)

Figure 32. Impact of COVID-19 Pandemic in Asia-Pacific

  1. AstaReal
  2. Cargill, Incorporated
  3. Cyanotech Corporation
  4. E.I.D. - Parry (India) Limited
  5. Earthrise Nutritionals, Llc
  6. Euglena Co, Ltd
  7. Far East Bio-Tec Co., Ltd
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC Microalgae-Based Products market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the APAC Microalgae-Based Products market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the Microalgae-Based Products market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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