Global Microalgae Market report presents a detailed Valuation of the business to estimate the market size, share, value, volume, revenue, key drivers, restrictions, significant insights into the planned development of the worldwide Microalgae market.
The latest global Microalgae Market report provides conclusive information about the market overview, modern trends, demand, and recent development affecting the market growth during the upcoming year. Microalgae Market report also covers the new business development, price, revenue, gross margin, market size, share, potential growth, and upcoming market strategy followed by leading players. The Microalgae Market research report provides insight into main drivers, challenges, opportunities and risk of the market. Key players are profiled as well with their market shares in the global Microalgae Market discussed. Overall, this report covers the historical situation, present status and the future prospects. The Microalgae Market research report encompasses research methodologies, and porter’s five forces analysis, product scope, CAGR status. Finally, the report offers a quantitative analysis of key countries according to their revenue share and the latest technological advancements in each region.
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About Microalgae Market:
Microalgae are unicellular algal species that may either live in either colonies or singly. It consists of dinoflagellates, the diatoms, and other single-celled algal species. According to Researcher, the global microalgae market is expected to witness a significant growth rate during the forecast period. The market for global microalgae is being driven by the growing demand from the nutraceuticals industry and the technological advancements in nutritional supplements. However, the limitation such as specific climatic conditions favorable to produce microalgae and the availability of counterfeit or sub-quality products are likely to restrain the market growth. The ongoing research and feasibility studies to develop new applications for microalgae are likely to provide opportunities for market growth.
Nutraceuticals are products that are derived from food sources with extra health benefits along with basic nutritional value found in foods. In recent years, nutraceuticals containing microalgae have witnessed a rapidly expanding market. Microalgae is one of the interesting sources for nutraceuticals since algae are capable of producing several biomolecules with bioactive properties, including lutein, astaxanthin, beta carotene, phycobiliprotein, and chlorophyll, among others. Nutraceuticals are attracting a significant interest of consumers due to their potential nutritional, safety, and therapeutic effects. Nutraceuticals can be used to improve health, postpone the aging process, prevent chronic diseases, or just support the functions and integrity of the body.
The global nutraceutical market has witnessed maximum growth in the last decade. In 2019, the global nutraceuticals market valued around USD 260 billion, and the demand were anticipated to grow at a significant rate in the coming years. The factors driving the growth of the nutraceuticals market include an increase in demand for preventive healthcare and a rise in medical treatment globally. Nutraceuticals are becoming a part of the consumer’s daily diet. This change is majorly due to the increasing prevalence of lifestyle diseases and people taking preventive healthcare measures. Various regions across the globe are realizing the potential of the nutraceuticals industry and are investing in developing the facilities to serve the respective populations. For instance, the nutraceuticals market in India is expected to grow from USD 4 billion in 2017 to USD 18 billion by 2025, owing to the rising demand for dietary supplements from the upper and middle-class population. The presence of a large coastline spanning over 7,500 kms, with more than 12 major and 200 minor ports, makes India an ideal manufacturing hub for the global value chain. The country is home to the largest number of US FDA approved plants located outside the US. In terms of geography, Asia-Pacific is the fastest-growing market for nutraceuticals globally, with countries such as Japan, China, and India accounting for a major share. These regions have a presence of a large population coupled with rising disposable incomes expected to drive the demand for nutraceuticals. Currently, the countries that account for major consumption of nutraceuticals include the US, Japan, and Europe, among others.
The RandD in the field of nutraceuticals is directed towards the following fields:
•To test the safety, potency, and purity of products
•To develop more effective and means of producing ingredients for use in products.
•To develop testing methods for ensuring the consistency of the dosage of ingredients included in the company’s products.
•Develop the new products either by combining the existing ingredients used in nutritional supplements or identifying new ingredients that can be used in nutritional supplements.
According to the aforementioned factors, the market for microalgae is expected to continue to be driven by the increasing demand for nutraceuticals during the forecast period.
Bioengineering of microalgae is being conducted in the industry to overcome the limitation of suboptimal yield and productivity of microalgae. There is an ongoing development of molecular tools and techniques and their deployment for microalgae strain improvement through genetic engineering. However, the scarcity of genomic resources and genetic tools limits the progress in algal bioengineering.
The global Microalgae market is segmented based on Type and Application. The Application segment is further segmented as Dietary Supplements, Food, and Animal Feed, Pharmaceutical, Cosmetic, and Others. Microalgae have been consumed in the form of the human diet for thousands of years. It is an under-exploited crop in the production of dietary foods. Several microalgal species are found to be the best contributors to health benefits by strengthening immunity and by enhancing the nutritional constitution of the human body. The presence of high protein content has exhibited a huge potential to meet the dietary requirements of continuous demand from a growing population.
With the ongoing extension in the life expectancy around the world, the duration of diseases is increasing, and awareness related to health continues to increase. This trend has resulted in the growth in the consumption of foods with specific benefits for nutrition and health. In the year 2019, global sales of dietary supplements valued at USD 146 billion. The US and EU authorities have taken recognition of the fact that dietary supplementation can remarkably reduce national medical costs and estimated that consumption of health functional foods contributes to improving the welfare of the aged population. The emergence of e-commerce has also contributed to the growth in the sales of dietary supplements, especially in the Asia-pacific region. For instance, in South Korea, nutrition and health claimed foods account for about 20-25% of the total purchases made from overseas through e-commerce.
The market for dietary supplements has been increasing at a growth rate between 5-6% in the last decade, and the same trend is likely to continue in the coming years. Various species of microalgae are reported to be rich in carbohydrates, protein, lipids, and other bio-active compounds. These are also known to be excellent sources of vitamins, including vitamin A, B1, B2, B6, B12, C, and E and minerals (iron, potassium, magnesium, iodine, and calcium). Currently, dietary supplements made from microalgae are marketed in the form of tablets, powders, capsules, and liquids. They are also sold in combination with gums, candies, snacks, pastes, breakfast cereals, wine, and other beverages.
Based on geography, the global Microalgae market is segmented into Asia Pacific, North America, South America, Europe, and Middle East and Africa. North America is likely to remain the largest market for the global microalgae market during the forecast period. The United States is the major country in the region with large concertation of microalgae producing companies.
The United States is the world’s largest economy. The GDP of the country has decreased at an annual rate of 5% in the first quarter and 9.5% in the second quarter of 2020 due to the ongoing coronavirus pandemic. During 2017-2018, the prevalence of obesity in the country was about 42.7%. The same was around 30.5% during 1999-2000. Several companies across the globe are engaged in developing technologies for microalgae cultivation and conversion of algae feedstocks to energy and bioproducts. The majority of these companies are located in the United States. The focus of some of the companies is on demonstration-level projects for bioenergy production from microalgae, while most of the companies’ focus is exclusively on the food, feed, and nutraceuticals market. Microalgae is not a common food source in the country; thus, algal cultivation for fuel is unlikely to interfere with food production at the levels that cultivation of other feedstocks.
The United States Food and Drug Administration (USFDA) has approved astaxanthin as a food colorant in animal and fish feed and as a cosmetic ingredient. In the United States, the personal care industry is attaining new heights with every passing year. On average, women in the country uses 12 personal care products every day, whereas men use six products. Consumer spending has mainly shifted towards skincare with more independent brands with faster supply chains and a greater resonance with younger consumers. In the United States, a 2019 survey of Clique’s community found that 63% of women see skincare as an investment in their wellness. According to the Alzheimer’s Association, An estimated 5.8 million Americans age 65 and older are living with Alzheimer’s dementia in 2020, out of which nearly 80% are age 75 or older. Moreover, the combined direct and indirect costs of Parkinson’s in the US, including treatment, disability, and similar costs, plus lost income from an inability to work, are estimated at USD 25 billion per year.
Some of the key players in the global market are Cyanotech Corporation, DIC Corporation, Parry Nutraceuticals, TerraVia Holdings, and Cellana LLC, among others.
In Feb 2020, DIC and AIST established sustainable materials collaborative research laboratory. The facility will work to develop recyclable functional materials that contribute to sustainability.
Our Global Microalgae Market report provides deep insight into the current and future state of the Microalgae market across various regions. Also, the study comprehensively analyzes the Microalgae Market by segments based on Type (Spirulina, Chlorella, Dunaliella, Astaxanthin, and Others), and by Application (Dietary Supplements, Food, and Animal Feed, Pharmaceutical, Cosmetic, and Others), and by Geography (Asia Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 are influencing the market growth in detail. The study covers and includes emerging market trend, market developments, market opportunities, microalgae market size, market revenue, market swot analysis, market dynamics, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies, including their market share and projects.
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This report provides detail analysis of the market and have a comprehensive understanding of the Microalgae market and its commercial landscape. Learn about the various market strategies that are being adopted by leading companies.It provides a five-year forecast assessed based on how the Microalgae market is predicted to grow.It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.To understand the future scope and outlooks for the Microalgae market.Microalgae Market Forecast by regions, type and application, with sales and revenue, from 2022.Microalgae Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
The Microalgae Market Top industry players, revenue analysis, and sales margin are also explained. The report also covers raw materials analysis, production and consumption specifications. Besides, the report also covers geographical segmentation for Microalgae market. The SWOT analysis, the growth rate for each type and application is covered. A forecast global Microalgae market perspective will lead to valuable business plans and strategic moves.
Microalgae Market research report explores the across the globe shows industry summary, definition, and scope along with major regions and countries. The research report provides a detailed study of each and every aspect of the Microalgae Market. Furthermore, the research study classifies the market based on product types, applications, and end-user industries of Polycarbonate. The Microalgae Market report offers a comprehensive view of the competitive landscape of the Microalgae market and includes a deep description of the performance of some of the key global players competing in the market. It offers a list of the latest updates of several business strategies including mergers, acquisitions, partnerships, product launches, expansion of production units, and collaborations adopted by these major global players. The report provides a clear picture regarding RandD investment from key players and the adoption of innovative technologies to widen their consumer base and expand the existing competitive position. Moreover, the report offers detailed information about the position, scope of growth, and opportunities of new entrants or players in the market.
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Highlights of Global Microalgae Market Report
- Explore the Microalgae industry’s prospects and quickly compares historical, current, and projected market figures.
- This report review growth constraints, market drivers and challenges, and current and prospective development prospects.
- Key market participants are evaluated based on various factors, including revenue share, price, regional growth, and product portfolio, to demonstrate how market shares have changed in the past and are expected to change in the future.
- Describes the expansion of the global Microalgae market across various industries and geographies. This allows players to concentrate their efforts on regional markets with the potential for rapid growth shortly.
- Discuss the global, regional, and national ramifications of COVID-19.
Reasons to Buy this Report:-
- This in-depth and comprehensive research on the global Microalgae market will help you improve your market research skills.
- Acquire a thorough understanding of current and future market conditions to determine strategies for overcoming obstacles and ensuring consistent growth.
- It provides an in-depth analysis of changing market trends, current and future technologies, and the various strategies used by global Microalgae industry leaders.
- It provides advice and support to newcomers to the global Microalgae market and actively assists existing businesses in increasing their market share.
- It sheds light on the plans of the industry’s leading firms and market advancements in the global Microalgae market.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
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Detailed TOC of Global Syngas Market Outlook to 2026
1 Executive Summary
2 Research Scope and Methodology
2.1 Aim and Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3 Market Analysis
3.1 Introduction
3.2 Market Dynamics
3.2.1 Drivers
3.2.2 Restraints
3.3 Market Trends and Developments
3.4 Market Opportunities
3.5 Raw Material Analysis
3.6 Regulatory Policies
4 Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter’s Five Forces Analysis
4.2.1 Competition in the Industry
4.2.2 Potential of New Entrants into the Industry
4.2.3 Bargaining Power of Suppliers
4.2.4 Bargaining Power of Consumers
4.2.5 Threat of substitute products
5 Market Segmentation and Forecast
5.1 By Type
5.4 By Application
6 Regional Market Analysis
6.1 North America
6.1.1 United States
6.1.2 Canada
6.1.3 Mexico
6.2 Europe
6.2.1 United Kingdom
6.2.2 Germany
6.2.3 Italy
6.2.4 France
6.2.5 Russia
6.2.6 Nordic Countries
6.2.7 Rest of Europe
6.3 Asia-Pacific
6.3.1 China
6.3.2 India
6.3.3 Japan
6.3.4 South Korea
6.3.5 ASEAN Countries
6.3.6 Rest of Asia-Pacific
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East and Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
7 Key Company Profiles
8 Competitive Landscape
8.1 List of Notable Players in the Market
8.2 MandA, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9 Conclusions and Recommendations
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