Home > Food, Nutrition & Animal Feed > Algae-based Ingredients Market

Algae-based Ingredients Market Size By Ingredient (Carrageenan, Alginates, Algae protein, Beta Carotene, Algae oil, Agar, Others), By Source (Red Algae, Green Algae, Brown Algae), By Application (Food and Beverages, Personal Care, Nutraceuticals [Dietary supplements, functional foods], Pharmaceuticals, Animal Feed [Aquaculture, Poultry, Swine, Cattle, Pet Food]), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI5347
  • Published Date: Sep 2022
  • Report Format: PDF

Industry Overview

Algae-Based Ingredients Market size exceeded USD 3.5 billion in 2021 and is likely to exhibit over 6% CAGR from 2022 to 2030. Growing awareness about product health benefits may open new growth avenues for the industry over the forecast timeframe.
 

Algae-Based Ingredients Market

Get more details on this report - Request Free Sample PDF
 

The mounting demand and uptake of nutraceutical products, backed by the prevalence of several metabolic and health disorders, may support industry growth over the coming years. The dramatic transition in dietary habits with rise in consumption of junk food has resulted in the increasing incidences of several health conditions, such as diabetes, heart diseases, obesity, chronic ailments, etc., which are caused due to improper nutrition and a sedentary lifestyle.
 

Based on estimations by the International Diabetes Federation, approximately 20-25% of the adult population globally have metabolic syndrome. People with this given health disorder are three times more susceptible to having a heart attack or stroke, two times higher prospects of death, and five times more prone to developing type 2 diabetes than those without the syndrome. The increasing utilization of algae-based ingredients across nutraceutical applications due to their proven health benefits will stimulate product demand in the foreseeable future.
 

Positive health impacts may increase the utilization of carrageenan as algae-based ingredient

Algae Based Ingredients Market By Ingredients

Get more details on this report - Request Free Sample PDF
 

With respect to ingredients, the algae-based ingredients market is classified into carrageenan, alginates, algae protein, beta carotene, algae oil, agar, and others. The carrageenan segment crossed USD 1 billion in 2021 and is likely to witness an upward trend exhibiting a CAGR of over 5% during the assessment timeframe. The product is commonly recognized as a thickening agent in food products with no nutritional value. In pharmaceuticals, it is known to fight several infections, such as the common cold, cough, tuberculosis, bronchitis, and other intestinal issues. In addition, the increasing utilization of carrageenan due to its anti-bacterial and anti-viral properties will stimulate product demand over the forecast timeframe.
 

Expansive application avenues to drive the demand for algae ingredients from others source

Algae Based Ingredients Market By Source

Get more details on this report - Request Free Sample PDF
 

Based on the source, the algae-based ingredients market is fragmented into green algae, red algae, brown algae, and others. The others segment is anticipated to record a sizeable valuation, depicting a CAGR of over 6.5% from 2022 to 2030. The category comprising variants such as yellow, blue-green, and similar forms of algae find a host of applications across several end-use industries. The increasing demand for various nutritional and personal care products with proven health and beauty benefits.
 

Rising health concerns to propel the sales of nutraceutical products

Algae Based Ingredients market Application

Get more details on this report - Request Free Sample PDF
 

The algae-based ingredients find major applications across food & beverages, personal care, pharmaceuticals, nutraceuticals, animal feed, and others. The nutraceuticals segment is likely to exhibit more than 6% CAGR over 2022-2030, thereby capturing a substantial market share by the end of the study duration. The increasing prevalence of several chronic health ailments has resulted in growing health concerns among people of all age groups. The surge in healthcare expenditure across both developed and developing economies and the rising awareness about the benefits of nutraceutical products may foster product usage in the years to come.
 

Growing consumption of processed food products to aid the industry growth across North America

Algae Based Ingredients Market By Region

Get more details on this report - Request Free Sample PDF
 

In terms of the regional landscape, the North America algae-based ingredients market is speculated to expand at over 5% CAGR over the projection period and may account for an appreciable revenue share by 2030. The regional growth can be attributed to the presence of several feed producing and algae-based product manufacturing industries, encouraging the utilization of algae-based ingredients. Besides, the positive outlook of the F&B and pharmaceutical sectors and the increased intake of processed food products may propel the expansion of the regional industry.
 

Customer acquisition to emerge as a key growth tactic for industry players

Major companies participating in the algae-based ingredients market share include Corbion, Aliga Microalgae, Triton, Cargill, Gino Biotech, CP Kelco U.S. Inc., AEP Colloids, KIMIA, Marine Hydrocolloids, AgarGel, Hispanagar SA, Taiwan Chlorella Manufacturing Company, Bioriginal Food & Science Corp, LUS Health Ingredients BV, Manta Biofuel, and Algenol Biotech.
 

These firms have been actively focusing on improving their customer retention techniques to gain a strong foothold in the market and expand their global presence. For instance, in July 2022, Corbion inaugurated an innovation and customer support center in Singapore. With this approach, the company aims to accentuate the fulfillment of customer requirements in the Asia/Pacific region across a range of categories.
 

COVID-19 impact assessment on the algae-based ingredients market outlook

The sudden outbreak of the COVID-19 pandemic depicted a favorable impact on the algae-based ingredients industry. Boosting the immune response emerged as a simple technique to limit the fatalities and resist viral transmission during the crisis that had absolutely no treatment or preventive therapies during the initial months. This resulted in the growing consumption of nutraceuticals and other health supplements.
 

Besides, several studies pointed toward the prospect that the consumption of algal extract could slow down coronavirus disease progression during the pandemic. These research results significantly led to the increasing popularity of algae-based ingredients, further streamlining the market expansion.
 

The algae-based ingredients market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2017 to 2030 for the following segments:

By Ingredients

  • Carrageenan
  • Alginates
  • Algae protein
  • Beta Carotene
  • Algae oil
  • Agar
  • Others

By Source

  • Red Algae
  • Green Algae
  • Brown Algae
  • Others

By Application

  • Food and Beverages
  • Personal Care
  • Nutraceuticals
    • Dietary supplements
    • Functional Foods
    • Others
  • Pharmaceuticals
  • Animal Feed
    • Poultry
    • Swine
    • Cattle
    • Aquaculture
    • Pet Food
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Latin America
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

The global market size for algae-based ingredients exceeded USD 3.5 billion in 2021 and is likely to exhibit over 6% CAGR from 2022 to 2030, owing to the rising consumption of nutraceutical products.

The carrageenan segment crossed USD 1 Billion in 2021 and is likely to witness a CAGR of over 5% during the assessment timeframe, driven by the growing recognition of the product as a thickening ingredient in food products coupled with its health benefits.

The others segment is anticipated to record a sizeable valuation, depicting a CAGR of over 6.5% from 2022 to 2030 due to the increased utilization of ingredients from yellow and blue-green algae across several end-use industries, including nutraceuticals and personal care products.

North America algae-based ingredients market is speculated to expand at over 5% CAGR over the projection period, owing to the increasing healthcare expenditure and the proliferation of F&B and pharmaceutical industries in the region.

Buy Now

Access to only 1 person; cannot be shared; cannot be printed
Access for 2 to 5 users only within same department of one company
Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Premium Report Details

  • Base Year: 2021
  • Companies covered: 16
  • Tables & Figures: 266
  • Countries covered: 18
  • Pages: 340

Get a report that explains COVID-19 impact on this market

 Request Free Sample

Budget constraints? Get in touch with us for special pricing

Request Discount