The global Microalgae Market is expected to reach $3.11 billion by 2030, growing at a CAGR of 9.8% from 2023 to 2030.
The global Microalgae market is projected to rise at a considerable rate over the stated period. The ageing population, combined with greater consumer awareness of preventative healthcare, the emergence of the self-directed consumer, channel proliferation, and a change away from ingredient-focused advertising toward broader brand positioning, are all driving the supplements industry forward. The value and sales of vitamins, minerals, nutritional, and herbal supplements have been steadily increasing around the world. Hence, the global microalgae market is propelled by the growing nutraceuticals industry.
Additionally, the developing nutritional supplement industry, growing demand for natural food colours, growing vegetarianism, and increasing preference for microalgae-sourced goods are all contributing to the market's growth.
However, limited knowledge of the benefits of microalgae and the difficult manufacturing process of algal products are projected to limit the global microalgae market's growth.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Type, Application, Distribution Channel, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Cyanotech Corporation, Earthrise Nutritionals, LLC, Fuqing King Dnarmsa Spirulina Co.Ltd., E.I.D. - Parry (India) Limited, Sun Chlorella Corporation, Dongtai City Spirulina Bio-Engineering Co. Ltd., Yunnan Green A Biological Project Co., Ltd., Jiangshan Comp Spirulina Co., Ltd., Inner Mongolia Rejuve Biotech Co., Ltd., AlgoSource. |
Covid-19 Impact on Microalgae Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Microalgae Market Segment Overview
According to Type, Spirulina is a major segment in the global Microalgae market. Spirulina-derived products are becoming more popular, particularly Omega-3 fatty acids; the usage of Spirulina in aquaculture is increasing; leading colour houses are increasing their investments, and the number of products including Spirulina as an ingredient is growing. However, low knowledge of Spirulina's benefits and constraints associated with Spirulina manufacturing are projected to limit the segment's growth to some extent.
According to the Application, the Nutraceuticals segment is projected to account for the largest share of the global microalgae market. The booming nutraceuticals sector, growing health concerns of the ageing population in various countries, growing desire for natural alternatives to traditional pharmaceutical products, and increased consumer awareness of the link between nutrition and health are all factors contributing to this segment's large share.
Moreover, the Food & Beverages segment is anticipated to grow at the highest CAGR in the forecast period. This is due to the increasing demand for microalgae-derived natural food color in confectionery products, frostings, ice cream and frozen desserts, dessert coatings and toppings, among others.
Microalgae Market, By Type
· Spirulina
· Chlorella
· Dunaliella Salina
· Haematococcus Pluvialis
· Other
Microalgae Market, By Application
· Nutraceuticals
· Food and Beverages
· Animal Feed
· Cosmetics
· Other
Microalgae Market, By Distribution Channel
· Business Channel
· Consumer Channel
Microalgae Regional Overview
Region-Wise, North America is predicted to have the highest share of the global microalgae market, followed by Asia-Pacific and Europe. The high consumption of health supplements, strict regulations against the use of synthetic colours, growth of subsidiary industries such as cosmetics and biofertilizers, increasing preference for natural protein sources, and the presence of key algae biomass manufacturers with large production capacities, especially in the United States, are all factors contributing to this region's large share.
Microalgae Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Microalgae Market, Key Players
· Cyanotech Corporation
· Earthrise Nutritionals, LLC
· Fuqing King Dnarmsa Spirulina Co.Ltd.
· E.I.D. - Parry (India) Limited
· Sun Chlorella Corporation
· Dongtai City Spirulina Bio-Engineering Co. Ltd.
· Yunnan Green A Biological Project Co., Ltd.
· Jiangshan Comp Spirulina Co., Ltd.
· Inner Mongolia Rejuve Biotech Co., Ltd.
· AlgoSource
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the Microalgae market?
Q2. What are the restraining factors for the Microalgae market?
Q3. Which segment is projected to hold the largest share in the Microalgae Market?
Q4. Which region holds the largest share in the Microalgae market?
Q5. Which are the prominent players in the Microalgae Market?
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Microalgae Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Spirulina
- 5.2.2. Chlorella
- 5.2.3. Dunaliella Salina
- 5.2.4. Haematococcus Pluvialis
- 5.2.5. Other
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Nutraceuticals
- 5.3.2. Food and Beverages
- 5.3.3. Animal Feed
- 5.3.4. Cosmetics
- 5.3.5. Other
- 5.4. Market Analysis, Insights and Forecast – By Distribution Channel
- 5.4.1. Business Channel
- 5.4.2. Consumer Channel
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Microalgae Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Spirulina
- 6.2.2. Chlorella
- 6.2.3. Dunaliella Salina
- 6.2.4. Haematococcus Pluvialis
- 6.2.5. Other
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Nutraceuticals
- 6.3.2. Food and Beverages
- 6.3.3. Animal Feed
- 6.3.4. Cosmetics
- 6.3.5. Other
- 6.4. Market Analysis, Insights and Forecast – By Distribution Channel
- 6.4.1. Business Channel
- 6.4.2. Consumer Channel
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Microalgae Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Spirulina
- 7.2.2. Chlorella
- 7.2.3. Dunaliella Salina
- 7.2.4. Haematococcus Pluvialis
- 7.2.5. Other
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Nutraceuticals
- 7.3.2. Food and Beverages
- 7.3.3. Animal Feed
- 7.3.4. Cosmetics
- 7.3.5. Other
- 7.4. Market Analysis, Insights and Forecast – By Distribution Channel
- 7.4.1. Business Channel
- 7.4.2. Consumer Channel
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Microalgae Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Spirulina
- 8.2.2. Chlorella
- 8.2.3. Dunaliella Salina
- 8.2.4. Haematococcus Pluvialis
- 8.2.5. Other
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Nutraceuticals
- 8.3.2. Food and Beverages
- 8.3.3. Animal Feed
- 8.3.4. Cosmetics
- 8.3.5. Other
- 8.4. Market Analysis, Insights and Forecast – By Distribution Channel
- 8.4.1. Business Channel
- 8.4.2. Consumer Channel
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Microalgae Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Spirulina
- 9.2.2. Chlorella
- 9.2.3. Dunaliella Salina
- 9.2.4. Haematococcus Pluvialis
- 9.2.5. Other
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Nutraceuticals
- 9.3.2. Food and Beverages
- 9.3.3. Animal Feed
- 9.3.4. Cosmetics
- 9.3.5. Other
- 9.4. Market Analysis, Insights and Forecast – By Distribution Channel
- 9.4.1. Business Channel
- 9.4.2. Consumer Channel
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2021
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Cyanotech Corporation
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Earthrise Nutritionals, LLC
- 10.6. Fuqing King Dnarmsa Spirulina Co.Ltd.
- 10.7. E.I.D. - Parry (India) Limited
- 10.8. Sun Chlorella Corporation
- 10.9. Dongtai City Spirulina Bio-Engineering Co. Ltd.
- 10.10. Yunnan Green A Biological Project Co., Ltd.
- 10.11. Jiangshan Comp Spirulina Co., Ltd.
- 10.12. Inner Mongolia Rejuve Biotech Co., Ltd.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
