“Microalgae Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on microalgae market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for microalgae? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The microalgae market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 1) By Type: Spirulina; Chlorella; Dunaliella Salina; Haematococcus Pluvialis; Other Microalgae
- 2) By Distribution Channel: Business Channel; Consumer Channel
- 3) By Applications: Food and Beverage; Dietary Supplements; Pharmaceuticals; Cosmetics and Personal Care; Bio-Fuel; Inks; Animal Feed; Other Applications
- Companies Mentioned: Cellana Inc.; Cyanotech Corporation; DIC Corporation; E.I.D Parry Ltd.; Fuqing King Dnarmsa Spirulina Co. Ltd.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the microalgae market are Cellana Inc., Cyanotech Corporation, DIC Corporation, E.I.D Parry Ltd., Fuqing King Dnarmsa Spirulina Co. Ltd., Taau Australia Pty Ltd., Algaetech Group, Algenol Biotech, Kent BioEnergy Corporation, Roquette Klotze GmbH & Co. KG, TerraVia Holdings, Ningbo Wanglong Technology Co., Jubilant Life Sciences Ltd., and Toronto Research Chemicals.
The global microalgae market is expected to grow from $0.96 billion in 2022 to $1.03 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The microalgae market is expected to grow to $1.35 billion in 2027 at a CAGR of 6.9%.
The microalgae market consists of sales of crypthecodinium, schizachyrium, and nannochloropsis species. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Microalgae refer to tiny eukaryotic organisms made out of differentiated single cells that can use chromophores for energy. They are a species of unicellular algae that are composed of single cells.
North America was the largest region in the microalgae market in 2022. The regions covered in the microalgae market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of microalgae are spirulina, chlorella, dunaliella salina, haematococcus pluvialis, and others. Spirulina refers to blue-green algae that grow in warm, alkaline freshwater bodies. The distribution channels involved are business channels, and consumer channels and are used for various applications such as food and beverage, dietary supplements, pharmaceuticals, cosmetics and personal care, bio-fuel, inks, animal feed, and others.
Increasing demand for nutritional supplements is expected to propel the growth of the microalgae market going forward. Nutritional supplements refer to dietary additions that are typically made up of one or more dietary components, such as vitamins, minerals, herbs, amino acids, and enzymes. Microalgae are autotrophic organisms that are highly sought after for usage in nutraceuticals and as dietary supplements because they boost the body's nutritional makeup and enhance the immune system. For instance, according to a report shared by The National Library of Medicine, a US-based biomedical library and an institute within the National Institutes of Health, in 2020, during the first wave of the pandemic, dietary supplement sales in the United States increased by 44% ($435 million) compared to the same period in 2019. In the U.S., sales of vitamins and supplements increased by 51.2% in March 2020, with sales of multivitamins experiencing a jump of approximately 120 million units during that period. Compared to last year's same period, vitamin sales alone jumped by 63% in the UK and between 40-60% in France in March 2020. Therefore, increasing demand for nutritional supplements is driving the growth of the microalgae market.
Technological advancements have emerged as a key trend gaining popularity in the microalgae market. Major companies operating in the market are focused on innovating new technologies to sustain their position in the market. For instance, in June 2021, Polaris, a US-based multinational biotechnology company, launched Omegavie DHA 800 algae oil, a high-concentration DHA component from microalgae. It is sourced from microalgae (Schizochytrium sp.) that are high in vitamins, proteins, pigments, and enzymes. In order to safeguard and enhance the stability of microalgae, it makes use of Polaris' unique Qualitysilver technology. Omegavie DHA 800 is exceptional due to its high potency, providing at least 800 mg/g of DHA. Polaris developed a patented sensory product line with exclusive and cutting-edge technology to ensure flavor. The method produces items with high organoleptic quality for optimal swallowing and zero-off notes.
In September 2022, Aliga Microalgae, a Denmark-based based food-tech company acquired Duplaco B.V. for an undisclosed amount. With this acquisition, Aliga aims to innovate in the food ingredients market and expand the volume of its manufacturing of chlorella algae products. Duplaco B.V. is a Netherlands-based chlorella microalgae production company.
The countries covered in the microalgae market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The microalgae market research report is one of a series of new reports from The Business Research Company that provides microalgae market statistics, including microalgae industry global market size, regional shares, competitors with microalgae market share, detailed microalgae market segments, market trends, and opportunities, and any further data you may need to thrive in the microalgae industry. This microalgae market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Table of Contents
1. Executive Summary
2. Microalgae Market Characteristics
3. Microalgae Market Trends And Strategies
4. Microalgae Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Microalgae Market
- 4.2. Ukraine-Russia War Impact On Microalgae Market
- 4.3. Impact Of High Inflation On Microalgae Market
5. Microalgae Market Size And Growth
- 5.1. Global Microalgae Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Microalgae Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Microalgae Market Segmentation
- 6.1. Global Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Spirulina
- Chlorella
- Dunaliella Salina
- Haematococcus Pluvialis
- Other Microalgae
- 6.2. Global Microalgae Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Business Channel
- Consumer Channel
- 6.3. Global Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Food And Beverage
- Dietary Supplements
- Pharmaceuticals
- Cosmetics And Personal Care
- Bio-Fuel
- Inks
- Animal Feed
- Other Applications
7. Microalgae Market Regional And Country Analysis
- 7.1. Global Microalgae Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Microalgae Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Microalgae Market
- 8.1. Asia-Pacific Microalgae Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Microalgae Market
- 9.1. China Microalgae Market Overview
- 9.2. China Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Microalgae Market
- 10.1. India Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Microalgae Market
- 11.1. Japan Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Microalgae Market
- 12.1. Australia Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Microalgae Market
- 13.1. Indonesia Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Microalgae Market
- 14.1. South Korea Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Microalgae Market
- 15.1. Western Europe Microalgae Market Overview
- 15.2. Western Europe Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Microalgae Market
- 16.1. UK Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Microalgae Market
- 17.1. Germany Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Microalgae Market
- 18.1. France Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Microalgae Market
- 19.1. Eastern Europe Microalgae Market Overview
- 19.2. Eastern Europe Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Microalgae Market
- 20.1. Russia Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Microalgae Market
- 21.1. North America Microalgae Market Overview
- 21.2. North America Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Microalgae Market
- 22.1. USA Microalgae Market Overview
- 22.2. USA Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Microalgae Market
- 23.1. South America Microalgae Market Overview
- 23.2. South America Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Microalgae Market
- 24.1. Brazil Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Microalgae Market
- 25.1. Middle East Microalgae Market Overview
- 25.2. Middle East Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Microalgae Market
- 26.1. Africa Microalgae Market Overview
- 26.2. Africa Microalgae Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Microalgae Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Microalgae Market Competitive Landscape And Company Profiles
- 27.1. Microalgae Market Competitive Landscape
- 27.2. Microalgae Market Company Profiles
- 27.2.1. Cellana Inc.
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Cyanotech Corporation
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. DIC Corporation
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. E.I.D Parry Ltd.
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Fuqing King Dnarmsa Spirulina Co. Ltd.
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Microalgae Market
29. Microalgae Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer