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Algae Meal Market Size

Report ID: GMI6905
Published Date: Oct 2023
Report Format: PDF

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Algae Meal Market Size

Algae Meal Market was valued at around USD 6.9 billion in 2022 and is estimated to reach USD 12 billion by the end of 2032. Increasing demand makes up of the Algal Meal market’s competitive atmosphere which drives the need for eco-friendly and nutritious substitutes in animal feeding. The increasing concern towards eco-friendly and ethical sourcing opens up an opportunity through algae-based meals that offers the necessary nourishment while addressing environmental issues and reducing dependence on traditional sources of feeds – a critical factor promoting growth in the industry.

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Restrictions to the algal meal market include high cost of production, lack of scaled commercial production models, and bureaucratic hurdles. They stifle high scale uptake of what would be potentially a nutrient rich and sustainable alternative of an animal feed.

Algae Meal Market Report Attributes
Report Attribute	Details
Base Year:	2022
Algae Meal Market Size in 2022:	USD 6.9 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6.2%
2032 Value Projection:	USD 12 Billion
Historical Data for:	2018 to 2022
No. of Pages:	150
Tables, Charts & Figures:	197
Segments covered:	Source, Grade, Application Region
Growth Drivers:	Growing Demand for Sustainable and Nutrient-Rich Animal Feed Alternatives Expanding Applications in Aquaculture and Poultry Industries Increasing Awareness of Health Benefits and Nutritional Value of Algal Meal
Pitfalls & Challenges:	High Production Costs and Technological Challenges Limited Scale of Commercial Production Leading to Supply Constraints

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Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of algae meal was worth USD 6.9 billion in 2022 and is estimated to reach USD 12 billion by 2032, favored by the increasing demand for eco-friendly and nutritious substitutes in animal feeding.

Red Algae segment accounted for USD 2.4 billion in 2022 and will witness high demand due to their numerous nutritional properties and usage in many industries like foods, drugs, biotechnological among others.

U.S. algae meal industry was worth USD 1.6 billion in 2022 and is anticipated to expand at a significant pace from 2023 to 2032, with the region being the largest producer of algae meal and advance technology, leading to various algae researches for commercial use.

Corbion, DSM Nutritional Products, Cellana Inc., Corbion N.V., Archer Daniels Midland Company, AlgaEnergy S.A., Cyanotech Corporation, Roquette Frères, Allmicroalgae - Natural Products S.A., among others.