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Algae Extracts Market Analysis

  • Report ID: GMI5310
  • Published Date: Jan 2024
  • Report Format: PDF

Algae Extracts Market Analysis


Based on source, the green algae segment dominated around USD 1.4 billion revenue in 2023. The different applications of various algae are driving the growth of the market's source segment. Red, green, and brown algae each have their own set of substances, such as carrageenan, agar, and fucoxanthin, which derives demand in medicines, food, and cosmetics. Innovations in algae harvesting and processing are increasing the yield and purity, encouraging industry expansion even more.

Algae Extracts Market Revenue Share, By Form, (2022)

Based on Form, the solid form segment accounted for 61% of the algae extracts market share in 2023. The market's solid form segment is critical to its diversification and reach across different industries. Solid form of algal extracts, such as flakes and powders, play a crucial part in increasing the stability and shelf life of many goods, similar to the role of barrier resins in food packaging. These forms are required in medicines to ensure medication effectiveness and in cosmetics to ensure product life and quality.

Solid algal extracts are employed in the nutraceutical industry due to their concentrated nutritional value and simplicity of inclusion into supplements. The adaptability of solid forms, such as barrier resins, drives product innovation, allowing these extracts to fulfil a variety of industrial uses ranging from health foods to agricultural inputs, boosting their market penetration and attractiveness.

The "Food and Beverages" is a major driver in the algae extracts market, as it uses algal for nutritional improvement and natural colouring in an array of goods. The "Personal Care" segment uses the extracts for their skin-benefiting characteristics, putting them into a number of cosmetic and skincare products.

In "Pharmaceuticals & Nutraceuticals," algal extracts are regarded for their concentrated antioxidants and vitamins, which play an important role in the production of health supplements. The "Animal Feed" sector uses these extracts for boosting nutritional content in animal diets, enhancing overall animal health. These applications highlight the diversity of algal extracts, with each driving to the market's growth in unique but complementary ways.

U.S. Algae Extracts Market Size, 2020- 2032 (USD Billion)

The U.S. algae extracts market size held over USD 1.14 billion in 2023. The USA is dominating in the North America market, because of more effective research, rising demand for sustainable goods, and technological innovation. The United States is home to key players and research agencies focusing in algae culture and extraction technologies, which add substantially to market evolution. There is a growing consumer preference towards eco-friendly and natural products in industries such as personal care, food and beverages, and medicines, which pushes up demand for algae-based components.

In addition, the U.S. market is aided by investments in sustainable practices, and favourable legislative frameworks, which accelerates the research and marketing of algal extracts. This integrated ecosystem places the U.S. as a significant contributor to the market.

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

The market size of algae extracts reached USD 5.42 billion in 2023 and is set to cross USD 9.44 billion by 2032, owing to the increasing demand for natural ingredients and increased awareness of the health advantages of algae-based products worldwide.

The green algae source segment recorded USD 1.4 billion in 2023, attributed to innovations in algae harvesting and processing leading to increased yield and purity.

U.S. market was valued at USD 1.14 billion in 2023, due to the rising demand for sustainable goods, and technological innovations in the region.

Algatechnologies, Allmicroalgae, Arizona Algae Products, LLC., Blue Evolution, Corbion NV, Cyanotech Corporation, Earthrise Nutritionals LLC. (DIC Corporation), Goerlich Pharma GmbH, Kelp, and Olmix Group are some of the major algae extracts companies worldwide.

Algae Extracts Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 203
  • Countries covered: 21
  • Pages: 180
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