According to a report new market published by Credence research “ algae products market – Growth, Sharing, opportunities, competitive analysis and forecast 2015 – 2021″, the algae products market is US expected to reach $ 0.70 billion by 2022, expanding at a CAGR of more than 5.0% from 2016 to 2022.
Market Insights :
Algae are a diverse group of photosynthetic organisms that are not closely related and therefore are known to be polyphyletic. You are weaves, ranging from microalgae to macroalgae. Algae are grown using water resources such as the sea and waste water, which are not suitable for the cultivation of agricultural crops. Microalgae with sunlight ie photosynthesis, grow through conversion of sunlight, CO2 and nutrients such as phosphorous and nitrogen in biomass. This growth is also known as autotrophic growth. Some algae can grow the growth modes in the dark with sugar or starch by combining both.
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Based on application of global algae products are segmented into food and feed, nutraceuticals, colors and dyes, environmental protection, drugs and others. Under these neutraceuticals dominates the global algae products market and is expected to retain its position in the near future. Increased use of algal biomass is expected that world to provide high income for seaweed producers.
The rising demand for algae products from neutraceuticals and pharmaceutical industry is the most important factor driving global algae products market worldwide. Increasing health awareness among the people in the developed and developing countries is another factor in the growth of the global algae products on the market to contribute. Some products derived from seaweed, such as carotenoids, β-carotene, omega 3 fatty acids (PUFA) and astaxanthin have high demand from the pharmaceutical industry and neutraceuticals won world. Food & Supplements industry is to increase also a high demand expected for algae products on the market. Algae products offer range of health benefits as fish oil health food and supplements. Therefore, food and feed industry is expected to benefit from a global algae to increase products in the market. Other applications are also growing algae research sectors due to fuel market demand for seaweed products expected in developed regions such as North America and Europe.
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competitive Insights :
Asia Pacific was to be the world’s largest consumer of algae products. The rising demand for algae in the pharmaceutical and neutraceuticals industry driving demand for algae products in the region. North America will increase by in the near future high demand for algae products expected growing algae research industries in the region. Other regions such as Europe, Middle East and Africa and rest of the world is expected to continue also from 2015 to 2022 the growth of the global algae products market over the forecast period.
Key trends :
Broad range of application
health benefits
opportunities from the increase in research activities on algae and their products
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