Algae Products Market Growth Trend & Forecast with latest research study released by Delvens evaluating the market risk side analysis, highlighting opportunities, and leveraging strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global Algae Products Market.
The global Algae Products Market size was estimated at USD 2.2 billion in 2023 and is projected to reach USD 3.18 billion in 2030 at a CAGR of 5.4% during the forecast period 2023-2030.
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The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The market for algae products is propelled by evolving dietary preferences and a paradigm shift towards preventive health management practices, which is occurring alongside an increase in healthcare costs and the growing burden of lifestyle-related diseases.
The expansion of the geriatric population, as well as the rising incidence of chronic conditions, is expected to drive the growth of algae products on a global scale. Additionally, consumer awareness regarding botanical variations and their functional properties has been a crucial driver.
North America to Dominate the Market
North America is estimated to account for the largest market share during the forecast period. In North America, there is a growing awareness among consumers regarding the health benefits and sustainability aspects of algae-based products.
Moreover, the Consumers are becoming more conscious of their dietary choices and are actively seeking natural, plant-based alternatives for various applications.
The prominent players in the Algae Products market are:
· ACCEL Carrageenan Corporation
· Algatech Ltd.
· Algea
· Algenol Biotech LLC
· Aliga Microalgae Company
· AMJ Hydrocolloids
· Archer Daniels Midland Company
· BASF SE
· Cargill Incorporated
· Cellana Inc.
· Corbion
· CP Kelco U.S., Inc.
· Cyanotech Corporation
· DSM
· DuPont de Nemours Inc. and More
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Recent Developments
In September 2022, in the Netherlands, a modern production facility specializing in chlorella algae was acquired by Aliga Microalgae, a Danish company. The purpose of this acquisition is to enable commercialization of Aliga's chlorella algae products.
In April 2022, Koninklijke DSM N.V. has undertaken an expansion of its 'life' range of algal-sourced omega-3 products through the addition of two-line extensions. The company has expressed a desire to provide an omega-3 substitute for fish oil that maintains high quality and potency, by means of expanding the product line that includes life's OMEGA and life's DHA. Among DSM's most effective forms of algal omega-3 is life's OMEGA O1030DS, which derives both EPA and DHA from a single, sustainable source.
Reasons to Acquire
· Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for the Algae Products Market to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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