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Algae Meal Market Trends
- Report ID: GMI6905
- Published Date: Oct 2023
- Report Format: PDF
Algae Meal Market Trends
Demand surge in the algae meal industry as people opt for more plant-based protein source. The market is growing due to a rise in use as animal feed, human nutritious and sustainable products. This growing market is also being positively shaped by innovation in areas such as algae cultivation methods and product diversification.
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.
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