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

Publication Month: Jul 2021 | Report Code: TIPRE00020164 | No. of Pages: 168 | Category: Food and Beverages | Status: Published

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The microalgae-based products market was valued at US$ 1,547.23 million in 2020 and is projected to reach US$ 2,811.10 million by 2028; it is expected to grow at a CAGR of 7.9% from 2021 to 2028.

 

Microalgae are defined as prokaryotic or eukaryotic microorganisms that can be traced with the help of a microscope. These microscopic organisms are unicellular species that are founded separately or in chains or groups and can be sourced out from freshwater and marine systems. These microorganisms possess a simple cell structure and require light, carbon dioxide, water, and essential nutrients such as phosphorus and nitrogen, for their growth. Further, microalgae are a source of vital phytochemicals such as carotenoids, fiber, minerals, antioxidants, fatty acids, vitamins, halogenated compounds, polysaccharides, proteins, and lectin. Microalgae are considered to be a valuable biomass source portraying diverse potential applications in numerous industries. For instance, microalgae find application in diverse end-use industries such as food & beverages, animal nutrition, pharmaceuticals and nutraceuticals, and personal care.

 

In 2020, Europe contributed to the largest share in the global microalgae-based products market. The dominance of the microalgae-based products market in this region is primarily attributable to the presence of a strong industrial base with prominent manufacturers of pharmaceuticals and nutraceuticals as well as packaged food and beverages. High demand for microalgae-based products from varied applications such as food & beverages, animal feed, pharmaceuticals and nutraceuticals, personal care, chemicals, and biofuels is boosting the market growth in Europe. Rising investment in cultivation technologies, along with a growing focus on sustainable solutions, provides lucrative opportunities for the growth of the microalgae-based products market in the region.

 

Impact of COVID-19 Pandemic on Microalgae-Based Products Market

The ongoing pandemic has drastically altered the status of the food & beverages sector and negatively impacted the growth of the microalgae-based products market. The implementation of measures to combat the spread of the virus has aggravated the situation and affected the growth of several industrial sectors. The market has been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. Disruptions in terms of sourcing of raw materials from suppliers and temporary closures of manufacturing bases due to indefinite lockdowns and travel restrictions have impacted the growth of the market during the pandemic. However, as much as the pandemic has affected the supply chain operations, it has also shifted the focus of consumers toward healthy living, owing to which, the consumers have turned their attention toward nutritional food products. Additionally, the expanding demand for microalgae-based products across food & beverages, pharmaceuticals and nutraceuticals, animal feed, and other industries, along with significant investment by prominent manufacturers, is expected to drive the microalgae-based products market. Other than this, several applications of microalgae have been identified in the treatment of the COVID-19 pandemic. For instance, a study published by Frontiers Media S.A. in November 2020, demonstrates the efficacy of Bioactive Metabolites obtained from microalgae in the treatment of SARS-CoV-2 like viral infection.

 

Microalgae-Based Products Market

       Microalgae-Based Products Market

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Market Insights

Rise in Demand for Microalgae in Pharmaceutical and Nutraceutical Applications

Microalgae-based products have received the generally recognized as safe (GRAS) status, which makes them suitable for pharmaceutical and nutraceutical applications. Microalgae are known for their antibacterial, antioxidant, antiviral, antimalarial, antifungal, antitumor, and anti-inflammatory activities. They are a source of vital phytochemicals such as carotenoids, fibers, minerals, antioxidants, fatty acids, vitamins, halogenated compounds, polysaccharides, and lectins and other proteins. For instance, polyunsaturated fatty acids (PUFA) present in microalgae are potential therapeutic agents that also minimize the risk of chronic disorders such as cardiovascular disorders, diabetic diseases, Alzheimer’s disease, and retinal problems. Similarly, cyanobacteria (blue-green algae) are increasingly being used in the synthesis of antibiotics and pharmacologically active compounds. Similarly, the use of cyanobacteria (blue-green algae) has been extended across the preparation of antibiotics and pharmacologically active compounds. Also, several research studies state the importance of the consumption of Chlorella tablets in the treatment of nausea, vomiting, and other gastrointestinal issues. Likewise, carrageenan from red algae helps in the treatment of the influenza virus. Also, algae are considered an important source of pharmacologically active natural products and nutraceuticals. The natural products sourced out from different variants of algae serve as a basis for drug discovery and find applications in the formulation of medicines. The potential application of microalgae has also been determined across the nutraceutical industry. At present, the value of nutraceuticals sourced out from algal biomass is very high in the market. Microalgae can be significantly used in the preparation of food supplements, dietary supplements, and value-added processed foods, as well as non-food supplements such as tablets, and soft gels. For instance, microalgae obtained from chlorella, dunaliella, haematococcus, spirulina, and aphanizomenon are extensively used in the preparation of nutritional supplements. Hence, there is a rise in demand for microalgae in pharmaceutical and nutraceuticals application bases.

 

Type Insights

Based on type, the microalgae-based products market is segmented into spirulina, chlorella, astaxanthin, beta carotene, and others. In 2020, the spirulina segment dominated the global microalgae-based products market. Spirulina is defined as prokaryotic cyanobacterium which is manufactured to serve diverse application bases such as aquaculture, pharmaceuticals and nutraceuticals, and food dyes. The microalgae are composed of 60–70% of protein, including amino acids such as leucine, isoleucine, and valine, along with other essential minerals such as beta-carotene, B vitamins, phycocyanin, chlorophyll, and vitamin E. The nutritional profile offered by the algae makes it an ideal ingredient to be used in various application bases. Spirulina algae are categorized as a superfood item and are widely cultured to meet the expanding demand across diverse end-use industries.

 

Microalgae-Based Products Market, by Application – 2020 and 2028

 Microalgae-Based Products Market, by Application – 2020 and 2028

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Application Insights

Based on application, the microalgae-based products market is segmented into food and beverages, animal feed, pharmaceuticals and nutraceuticals, personal care, and others. The pharmaceuticals and nutraceuticals segment accounted for the largest market share in 2020. Microalgae are considered as one of the renewable sources for pharmaceutical compounds and categorized under generally recognized as safe (GRAS) status compounds, ideal to be used in the pharmaceutical industry. Microalgae are significantly used in the formulation of anti-cancer drugs – a compound named cryptophyci. Additionally, they are also used to manufacture alkaloidal neurotoxins such as saxitoxin and polyketide, owing to their anti-inflammatory and anti-cancer features. Similarly, microalgae such as chlorella, dunaliella, haematococcus, spirulina, and aphanizomenon, are extensively used in formulating nutraceutical supplements.

 

Strategic Insights

The key players operating in the microalgae-based products market include Algae Health Sciences - A BGG company; Cargill Inc.; Cellana Inc.; and Cyanotech Corporation. The key companies implement mergers & acquisitions and R&D strategies to expand their customer base and gain market share in the global microalgae-based products market, which would allow them to expand the reach of their brand name.

 

Report Spotlights

  • Progressive industry trends in the microalgae-based products market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the microalgae-based products market from 2019 to 2028
  • Estimation of global demand for microalgae-based products
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook as well as factors driving and restraining the growth of the microalgae-based products market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • Size of the microalgae-based products market size at various nodes
  • Detailed overview and segmentation of the market, as well as the microalgae-based products industry dynamics
  • Size of the microalgae-based products market in various regions with promising growth opportunities

 

On the basis of type, the global microalgae-based products market has been segmented into Spirulina, Chlorella, Astaxanthin, Beta Carotene and others.

 

On the basis of application, the global microalgae-based products market has been segmented into food & beverages, animal feed, pharmaceuticals and nutraceuticals, personal care, others.

 

Company Profiles

  • Algae Health Sciences - A BGG company
  • Bluebiotech International Gmbh
  • Cargill Inc
  • Cellana Inc
  • Earthrise Nutritionals, Llc
  • E.I.D. - Parry (India) Limited
  • Cyanotech Corporation
  • Euglena Co., Ltd
  • Far East Bio-Tec Co., Ltd
  • AstaReal

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:

3.2.7        Country level data:

4.             Microalgae-based Products Market Landscape

4.1       Market Overview

4.2       PEST Analysis

4.2.1        North America

4.2.2        Europe

4.2.3        APAC

4.2.4        MEA

4.2.5        SAM

4.3       Expert Opinion

5.             Microalgae-based Products Market – Key Market Dynamics

5.1       Market Drivers

5.1.1        Growing Awareness Regarding Microalgae-Based Products Backed by Increasing Environmental Concerns

5.1.2        Expanding Application Base Across Diverse End-Use Sectors

5.2       Restraints

5.2.1        Complex and Costly Manufacturing Process

5.3       Market Opportunities

5.3.1        Rising Adoption of Bio-Based Platform Chemicals

5.4       Future Trend

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 – Global Market Analysis

6.1       Microalgae-based Products Market Overview

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

6.3       Market Positioning – Global Market Players

7.             Microalgae-based Products Market Analysis – By Type

7.1       Overview

7.2       Microalgae-based Products Market, By Type (2020 and 2028)

7.3       Spirulina

7.3.1        Overview

7.3.2        Spirulina: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

7.4       Chlorella

7.4.1        Overview

7.4.2        Chlorella: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

7.5       Astaxanthin

7.5.1        Overview

7.5.2        Astaxanthin: Microalgae-based Products Market – Revenue and Forecast to 2028 (US$ Mn)

7.6       Beta Carotene

7.6.1        Overview

7.6.2        Beta Carotene: Microalgae-based Products Market – Revenue and Forecast to 2028 (US$ Mn)

7.7       Others

7.7.1        Overview

7.7.2        Others: Microalgae-based Products Market – Revenue and Forecast to 2028 (US$ Mn)

8.             Microalgae-based Products Market Analysis – By Application

8.1       Overview

8.2       Microalgae-based Products Market, By Application (2020 and 2028)

8.3       Food & Beverages

8.3.1        Overview

8.3.2        Food & Beverages: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

8.4       Animal Feed

8.4.1        Overview

8.4.2        Animal Feed: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

8.5       Pharmaceuticals and Neutraceuticals

8.5.1        Overview

8.5.2        Pharmaceuticals and Neutraceuticals: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

8.6       Personal Care

8.6.1        Overview

8.6.2        Personal Care: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

8.7       Others

8.7.1        Overview

8.7.2        Others: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

9.             Global Microalgae-based Products Market – Geographic Analysis

9.1       Overview

9.2       North America Microalgae-based Products Market Revenue and Forecasts To 2028

9.2.1        North America Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.2.2        North America Microalgae-based Products Market Breakdown, by Type

9.2.3        North America Microalgae-based Products Market Breakdown, by Application

9.2.4        North America Microalgae-based Products Market Breakdown, by Country

9.2.4.1      US Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.2.4.1.1       US Microalgae-based Products Market Breakdown, by Type

9.2.4.1.2       US Microalgae-based Products Market Breakdown, by Application

9.2.4.2      Canada Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.2.4.2.1       Canada Microalgae-based Products Market Breakdown, by Type

9.2.4.2.2       Canada Microalgae-based Products Market Breakdown, by Application

9.2.4.3      Mexico Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.2.4.3.1       Mexico Microalgae-based Products Market Breakdown, by Type

9.2.4.3.2       Mexico Microalgae-based Products Market Breakdown, by Application

9.3       Europe Microalgae-based Products Market Revenue and Forecasts To 2028

9.3.1        Europe Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.3.2        Europe Microalgae-based Products Market Breakdown, by Type

9.3.3        Europe Microalgae-based Products Market Breakdown, by Application

9.3.4        Europe Microalgae-based Products Market Breakdown, by Country

9.3.4.1      Germany Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.3.4.1.1       Germany Microalgae-based Products Market Breakdown, by Type

9.3.4.1.2       Germany Microalgae-based Products Market Breakdown, by Application

9.3.4.2      France Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.3.4.2.1       France Microalgae-based Products Market Breakdown, by Type

9.3.4.2.2       France Microalgae-based Products Market Breakdown, by Application

9.3.4.3      United Kingdom Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.3.4.3.1       United Kingdom Microalgae-based Products Market Breakdown, by Type

9.3.4.3.2       United Kingdom Microalgae-based Products Market Breakdown, by Application

9.3.4.4      Italy Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.3.4.4.1       Italy Microalgae-based Products Market Breakdown, by Type

9.3.4.4.2       Italy Microalgae-based Products Market Breakdown, by Application

9.3.4.5      Russia Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.3.4.5.1       Russia Microalgae-based Products Market Breakdown, by Type

9.3.4.5.2       Russia Microalgae-based Products Market Breakdown, by Application

9.3.4.6      Rest of Europe Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Million)

9.3.4.6.1       Rest of Europe Microalgae-based Products Market Breakdown, by Type

9.3.4.6.2       Rest of Europe Microalgae-based Products Market Breakdown, by Application

9.4       Asia Pacific Microalgae-based Products Market Revenue and Forecasts To 2028

9.4.1        Asia Pacific Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.4.2        Asia Pacific Microalgae-based Products Market Breakdown, by Type

9.4.3        Asia Pacific Microalgae-based Products Market Breakdown, by Application

9.4.4        Asia Pacific Microalgae-based Products Market Breakdown, by Country

9.4.4.1      Australia Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.4.4.1.1       Australia Microalgae-based Products Market Breakdown, by Type

9.4.4.1.2       Australia Microalgae-based Products Market Breakdown, by Application

9.4.4.2      China Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.4.4.2.1       China Microalgae-based Products Market Breakdown, by Type

9.4.4.2.2       China Microalgae-based Products Market Breakdown, by Application

9.4.4.3      India Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.4.4.3.1       India Microalgae-based Products Market Breakdown, by Type

9.4.4.3.2       India Microalgae-based Products Market Breakdown, by Application

9.4.4.4      Japan Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.4.4.4.1       Japan Microalgae-based Products Market Breakdown, by Type

9.4.4.4.2       Japan Microalgae-based Products Market Breakdown, by Application

9.4.4.5      South Korea Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.4.4.5.1       South Korea Microalgae-based Products Market Breakdown, by Type

9.4.4.5.2       South Korea Microalgae-based Products Market Breakdown, by Application

9.4.4.6      Rest of Asia Pacific Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.4.4.6.1       Rest of Asia Pacific Microalgae-based Products Market Breakdown, by Type

9.4.4.6.2       Rest of Asia Pacific Microalgae-based Products Market Breakdown, by Application

9.5       Middle East and Africa Microalgae-based Products Market Revenue and Forecasts To 2028

9.5.1        Middle East and Africa Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.5.2        Middle East and Africa Microalgae-based Products Market Breakdown, by Type

9.5.3        Middle East and Africa Microalgae-based Products Market Breakdown, by Application

9.5.4        Middle East and Africa Microalgae-based Products Market Breakdown, by Country

9.5.4.1      South Africa Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.5.4.1.1       South Africa Microalgae-based Products Market Breakdown, by Type

9.5.4.1.2       South Africa Microalgae-based Products Market Breakdown, by Application

9.5.4.2      Saudi Arabia Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.5.4.2.1       Saudi Arabia Microalgae-based Products Market Breakdown, by Type

9.5.4.2.2       Saudi Arabia Microalgae-based Products Market Breakdown, by Application

9.5.4.3      UAE Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.5.4.3.1       UAE Microalgae-based Products Market Breakdown, by Type

9.5.4.3.2       UAE Microalgae-based Products Market Breakdown, by Application

9.5.4.4      Rest of Middle East and Africa Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.5.4.4.1       Rest of Middle East and Africa Microalgae-based Products Market Breakdown, by Type

9.5.4.4.2       Rest of Middle East and Africa Microalgae-based Products Market Breakdown, by Application

9.6       South and Central America Microalgae-based Products Market Revenue and Forecasts To 2028

9.6.1        South and Central America Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.6.2        South and Central America Microalgae-based Products Market Breakdown, by Type

9.6.3        South and Central America Microalgae-based Products Market Breakdown, by Application

9.6.4        South and Central America Microalgae-based Products Market Breakdown, by Country

9.6.4.1      Brazil Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.6.4.1.1       Brazil Microalgae-based Products Market Breakdown, by Type

9.6.4.1.2       Brazil Microalgae-based Products Market Breakdown, by Application

9.6.4.2      Argentina Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.6.4.2.1       Argentina Microalgae-based Products Market Breakdown, by Type

9.6.4.2.2       Argentina Microalgae-based Products Market Breakdown, by Application

9.6.4.3      Rest of South and Central America Microalgae-based Products Market Revenue and Forecast to 2028 (US$ Mn)

9.6.4.3.1       Rest of South and Central America Microalgae-based Products Market Breakdown, by Type

9.6.4.3.2       Rest of South and Central America Microalgae-based Products Market Breakdown, by Application

10.          Impact of Covid-19 Pandemic on Global Microalgae-based Products Market

10.1    Impact of COVID-19 on Microalgae-based Products Market

10.2    North America: Impact Assessment of COVID-19 Pandemic

10.3    Europe: Impact Assessment of COVID-19 Pandemic

10.4    Asia-Pacific: Impact Assessment of COVID-19 Pandemic

10.5    Middle East and Africa: Impact Assessment of COVID-19 Pandemic

10.6    South America: Impact Assessment of COVID-19 Pandemic

11.          Industry Landscape

11.1    Product Launch

11.2    Merger & Acquisition

11.3    Partnership

11.4    Collaboration

12.          Company Profiles

12.1    Algae Health Sciences - A BGG company

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    Bluebiotech International Gmbh

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    Cargill, Incorporated

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    Cellana Inc.

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    Earthrise Nutritionals, LLC

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    E.I.D. - Parry (India) Limited

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    Cyanotech Corporation

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

12.8    Euglena Co., Ltd.

12.8.1     Key Facts

12.8.2     Business Description

12.8.3     Products and Services

12.8.4     Financial Overview

12.8.5     SWOT Analysis

12.8.6     Key Developments

12.9    Far East Bio-Tec Co., Ltd.

12.9.1     Key Facts

12.9.2     Business Description

12.9.3     Products and Services

12.9.4     Financial Overview

12.9.5     SWOT Analysis

12.9.6     Key Developments

12.10 AstaReal

12.10.1   Key Facts

12.10.2   Business Description

12.10.3   Products and Services

12.10.4   Financial Overview

12.10.5   SWOT Analysis

12.10.6   Key Developments

13.          Appendix

13.1    About The Insight Partners

13.2    Glossary of Terms

 

LIST OF TABLES

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

Table 2.             North America Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 3.             North America Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 4.             US Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 5.             US Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 6.             Canada Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 7.             Canada Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 8.             Mexico Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 9.             Mexico Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 10.          Europe Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 11.          Europe Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 12.          Germany Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 13.          Germany Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 14.          France Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 15.          France Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 16.          United Kingdom Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 17.          United Kingdom Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 18.          Italy Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 19.          Italy Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 20.          Russia Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 21.          Russia Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 22.          Rest of Europe Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Million)

Table 23.          Rest of Europe Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Million)

Table 24.          Asia Pacific Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 25.          Asia Pacific Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 26.          Australia Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 27.          Australia Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 28.          China Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 29.          China Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 30.          India Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 31.          India Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 32           Japan Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 33.          Japan Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 34.          South Korea Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 35.          South Korea Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 36.          Rest of Asia Pacific Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 37.          Rest of Asia Pacific Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 38.          Middle East and Africa Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 39.          Middle East and Africa Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 40.          South Africa Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 41.          South Africa Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 42.          Saudi Arabia Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 43.          Saudi Arabia Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 44.          UAE Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 45.          UAE Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 46.          Rest of Middle East and Africa Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type  (US$ Mn)

Table 47.          Rest of Middle East and Africa Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 48.          South and Central America Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 49.          South and Central America Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 50.          Brazil Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 51.          Brazil Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 52.          Argentina Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 53.          Argentina Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 54.          Rest of South and Central America Microalgae-based Products Market Revenue and Forecasts To 2028 – By Type (US$ Mn)

Table 55.          Rest of South and Central America Microalgae-based Products Market Revenue and Forecasts To 2028 – By Application (US$ Mn)

Table 56.          Glossary of Terms, Global Microalgae-based Products Market

 

LIST OF FIGURES

Figure 1.           Microalgae-based Products Market Segmentation

Figure 2.           Microalgae-based Products Market Segmentation – By Geography

Figure 3.           Global Microalgae-based Products Market Overview

Figure 4.           Spirulina Segment Held Largest Share of Global Microalgae-based Products Market

Figure 5.           Asia Pacific Region Held Largest Share of Global Microalgae-based Products Market

Figure 6.           Global Microalgae-based Products Market, Key Market Players

Figure 7.           North America PEST Analysis

Figure 8.           Europe: PEST Analysis

Figure 9.           APAC: PEST Analysis

Figure 10.        MEA: PEST Analysis

Figure 11.        SAM: PEST Analysis

Figure 12.        Expert Opinion

Figure 13.        Global Microalgae-based Products Market Impact Analysis of Drivers and Restraints

Figure 14.        Geographic Overview of Microalgae-based Products Market

Figure 15.        Global: Microalgae-based Products Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16.        Microalgae-based Products Market Revenue Share, By Type (2020 and 2028)

Figure 17.        Spirulina: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 18.        Chlorella: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 19.        Astaxanthin: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 20.        Beta Carotene: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 21.        Others: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 22.        Microalgae-based Products Market Revenue Share, By Application (2020 and 2028)

Figure 23.        Food & Beverages: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 24.        Animal Feed: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 25.        Pharmaceuticals and Neutraceuticals: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 26.        Personal Care: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 27.        Others: Microalgae-based Products Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 28.        Microalgae-based Products Market Breakdown, by Region, 2020 & 2028 (%)

Figure 29.        North America Microalgae-based Products Market Revenue and Forecasts To 2028 (US$ Million)

Figure 30.        North America Microalgae-based Products Market Breakdown, By Type, 2020 & 2028 (%)

Figure 31.        North America Microalgae-based Products Market Breakdown, by Application, 2020 & 2028 (%)

Figure 32.        North America Microalgae-based Products Market Breakdown, by Country, 2020 & 2028(%)

Figure 32.        US Microalgae-based Products Market Forecasts To 2028 (US$ Million)

Figure 33.        Canada Microalgae-based Products Market Forecasts To 2028 (US$ Million)

Figure 34.        Mexico Microalgae-based Products Market Forecasts To 2028 (US$ Million)

Figure 35.        Europe Microalgae-based Products Market Revenue and Forecasts To 2028 (US$ Million)

Figure 36.        Europe Microalgae-based Products Market Breakdown, By Type, 2020 & 2028 (%)

Figure 37.        Europe Microalgae-based Products Market Breakdown, by Application, 2020 & 2028 (%)

Figure 38.        Europe Microalgae-based Products Market Breakdown, by Country, 2020 & 2028 (%)

Figure 39.        Germany Microalgae-based Products Market Forecasts To 2028 (US$ Million)

Figure 40.        France Microalgae-based Products Market Forecasts To 2028 (US$ Million)

Figure 41.        United Kingdom Microalgae-based Products Market Forecasts To 2028 (US$ Million)

Figure 42.        Italy Microalgae-based Products Market Forecasts To 2028 (US$ Million)

Figure 43.        Russia Microalgae-based Products Market Forecasts To 2028 (US$ Million)

Figure 44.        Rest Of Europe Microalgae-based Products Market Forecasts To 2028 (US$ Million)

Figure 45.        Asia Pacific Microalgae-based Products Market Revenue and Forecasts To 2028 (US$ Mn)

Figure 46.        Asia Pacific Microalgae-based Products Market Breakdown, By Type, 2020 & 2028 (%)

Figure 47.        Asia Pacific Microalgae-based Products Market Breakdown, by Application, 2020 & 2028 (%)

Figure 48.        Asia Pacific Microalgae-based Products Market Breakdown, by Country, 2020 & 2028(%)

Figure 49.        Australia Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 50.        China Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 51.        India Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 52.        Japan Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 53.        South Korea Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 54.        Rest Of Asia Pacific Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 55.        Middle East and Africa Microalgae-based Products Market Revenue and Forecasts To 2028 (US$ Mn)

Figure 56.        Middle East and Africa Microalgae-based Products Market Breakdown, By Type, 2020 & 2028 (%)

Figure 57.        Middle East and Africa Microalgae-based Products Market Breakdown, by Application, 2020 & 2028 (%)

Figure 58.        Middle East and Africa Microalgae-based Products Market Breakdown, by Country, 2020 & 2028 (%)

Figure 59.        South Africa Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 60.        Saudi Arabia Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 61.        UAE Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 62.        Rest of Middle East and Africa Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 63.        South and Central America Microalgae-based Products Market Revenue and Forecasts To 2028 (US$ Mn)

Figure 64.        South and Central America Microalgae-based Products Market Breakdown, By Type, 2020 & 2028 (%)

Figure 65.        South and Central America Microalgae-based Products Market Breakdown, by Application, 2020 & 2028 (%)

Figure 66.        South America Microalgae-based Products Market Breakdown, by Country, 2020 & 2028(%)

Figure 67.        Brazil Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 68.        Argentina Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 69.        Rest of South and Central America Microalgae-based Products Market Forecasts To 2028 (US$ Mn)

Figure 70.        Impact of COVID-19 Pandemic on Microalgae-based Products Market in North American Countries

Figure 71.        Impact of COVID-19 Pandemic on Microalgae-based Products Market in European Countries

Figure 72.        Impact of COVID-19 Pandemic on Microalgae-based Products Market in Asia-Pacific

Figure 73.        Impact of COVID-19 Pandemic on Microalgae-based Products Market in the Middle East and Africa

Figure 74.        Impact of COVID-19 Pandemic on Microalgae-based Products Market in South America

 

The List of Companies - Microalgae-based Product Market

  1. Algae Health Sciences - A Bgg Company
  2. Astareal Ab
  3. Bluebiotech International Gmbh
  4. Cargill, Incorporated
  5. Cellana Inc.
  6. Cyanotech Corporation
  7. Earthrise Nutritionals, Llc
  8. Eid Parry Ltd.
  9. Euglena Co, Ltd
  10. Far East Bio-Tec Co., Ltd
  • Highlights key business priorities to assist companies realign their business strategies.
  • Features key findings and crucial progressive industry trends in the global microalgae-based products market, thereby allowing players to develop effective long-term strategies.
  • Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
  • Scrutinizes in-depth market trends as well as key market drivers and restraints.
  • Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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Frequently Asked Questions

The major players operating in the global microalgae-based products market are Algae Health Sciences - A BGG company; Bluebiotech International Gmbh; Cargill, Incorporated; Cellana Inc.; Earthrise Nutritionals, LLC; E.I.D. - Parry (India) Limited; Cyanotech Corporation; Euglena Co., Ltd.; Far East Bio-Tec Co., Ltd; and AstaReal among many others.

Microalgae are unicellular microorganisms that live in saline or freshwater. They are a rich source of vital minerals and they are currently used in various applications such as food products, nutritional supplements, personal care, biofuels and others. Based, on type, the microalgae-based products market is segmented into Spirulina, Chlorella, Astaxanthin, Beta Carotene, and others. Based on application, the global microalgae-based products market is segmented into food & beverages, animal feed, pharmaceuticals and nutraceuticals, personal care, and others.

Spirulina accounted for a significant share of the global microalgae-based products market in 2020. Spirulina is a rich and clean source of protein and has gained significant demand over the last decade. In addition to this, it contains Vitamins B1, B2, B3, Copper and Iron. It is widely used for its antioxidant and anti-inflammatory properties while it also helps regulate cholesterol levels.

Pharmaceutical and nutraceuticals accounted for a major share of the global demand for microalgae-based products in 2020. Increasing consumption of nutritional supplements has propelled the demand for microalgae-based products market. Busy lifestyles, increasing healthcare costs and the growing awareness of the individual daily nutritional requirement have all aided the growth of the pharmaceuticals and nutraceuticals segment of the global microalgae-based products market.

Asia Pacific region accounts for a significant share of the global population and the rising disposable incomes and urbanization have increased the demand for new types of food products in the region. Moreover, the emerging economies such as China and India account for a very large share of the Spirulina production. Growing demand for vegan or vegetarian food, have positively contributed to the growth of the market. Moreover, pharmaceuticals and nutraceuticals have been witnessing a surge in demand in the region over the past few years.

Microalgae-based products market are expected to witness significant growth in the coming years. Many countries across the globe are increasing their investments in the R&D of microalgae in order to explore the commercial viability of its various applications. Growing requirements to meet the food demand is another factor expected to influence the microalgae-based products market growth in the future. It provides much better yield with lower land requirements, in comparison to other food sources. Biofuels derived through microalgae are also witnessing interest from various parts of the world. Increasing awareness about the climate crisis has led to the rise in demand for cleaner sources of fuel, food as well as to reform the practices that have a negative impact on the environment. Such factors would aid the growth of the microalgae-based products market in the coming years.

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