Algae Meal Market Analysis

Algae Meal Source Market Analysis

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Based on source, the red algae segment accounted for over USD 2.4 billion in 2022. This has resulted in their high demand due to their numerous nutritional properties as seen in many industries like foods, drugs, biotechnological among others which signify an ascending increase unlike that of brown algae the rest.
 

Feed grade segment held a dominant market share of around 58% in 2022 and is expected to grow at a lucrative pace by 2032. The feed segment of the algae meal market has been the driving force as it continues to show impressive growth in recent times. Rising need for sustainable, nutrient enriched ingredients in food products has boosted utilization of algae meal that exhibits its significance and supremacy in market.
 

The livestock segment captured around 50% of the market share in 2022 and is expected to grow at a lucrative pace by 2032. The use of algae meal as a sustainable and nutrient-rich feed supplement for livestock has gained significant traction, especially in aquaculture and poultry industries, driving its prominence in the market compared to food, beverages, or nutraceuticals.
 

U.S. dominated the North American region with majority market share and a revenue of USD 1.6 billion in 2022 and is anticipated to expand at a significant pace from 2023 to 2032. The US market is constantly rising and focuses strongly on sustainable consumption options. This is because it is the largest producer of algae meal being at advance in technology, leading on various algae research and producing commercially for sale. The United States is expected to hold a commanding position due to its growing consumer consciousness about its nutritive value.