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According to the current analysis of Reports and Data, the global algae products market was valued at USD 11.09 Billion in 2018 and is expected to reach USD 17.99 Billion by the year 2026, at a CAGR of 6.2%. These are plants that range from microscopic to large seaweeds. They are fastest growing plant organisms which are converting sunlight, CO2, and nutrients into organic matter that can replace many commonly used oils such as fish, palm. They are having the characteristics such as consumption of carbon-dioxide, storage of essential nutrients, minerals, and vitamins in microorganisms. These form organic food molecules from carbon dioxide and water through the development of photosynthesis, in which they acquire energy from sunlight. Similar to land plants, they are at the presence of the food chain, and, agreed that plants are virtually absent from the oceans, the existence of nearly all marine life—including whales, seals, fishes, turtles, shrimps, lobsters, clams, octopuses, sea stars, and worms—ultimately depends upon algae.
The latest report is one of the most sought-after market research documents covering the grave impact of the COVID-19 outbreak current situation on the Algae Products market. The market intelligence report closely investigates the severe disruptions to this business sphere brought about by the pandemic. The coronavirus outbreak has significantly affected the Algae Products business landscape, posing threats to the developmental scope of the key manufacturers and buyers involved in this sector. The report further provides expert speculations about the post-COVID-19 scenario of the market.
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The rise in demand for automobiles is expected to drive the market in the coming years. A significant challenge in the market’s growth is affected by the unstable price of the raw materials. Market demand is expected to be restrained by the rising demand for plastic-free products. Rising applications of Algae Products in the coatings and paints are driving the market. The increasing usage of bio-based Algae Products will also supplement Algae Products market revenue share through 2027
Further key findings from the report suggest
These products are used in various applications such as F&B, nutraceuticals & dietary supplements, personal care, chemical, feed, and pharmaceuticals.
Increasing use of these products in healthy food items to produce natural nutrient supplements, thereby emerging as a promising substitute for animal-based nutrition.
The occurrence of key Phyto-ingredients like beta-carotene, carotenoids, omega three fatty acids, and astaxanthin in products with health benefits is experiencing a high demand from food supplement manufacturers, pharmaceutical, and nutraceuticals industry.
Growing application of these products in the pharmaceutical sector for manufacturing antimicrobials, antivirals and anti-bacterial medicines, neuroprotective products, human therapeutic proteins, drugs for cancer treatment is another key factor expected to fuel the market during the forecast period.
North America is anticipated to grow due to growing healthcare awareness and increasing incidences of health allergies. Moreover, Asia Pacific is also expected to grow during the forecast period owing to increasing demand from food & feed supplements and nutraceuticals industry.
The global Algae Products market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies’ current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.
The leading companies operating across the global Algae Products market are listed below:
Euglena Co., Ltd., Algae Systems LLC., Cyanotech Corporation, Cargill, BIOPROCESS ALGAE, Algenol Biofuels Inc., LLC, Corbion, Algatechnologies, Cellana Inc., and Earthrise Nutritional.
Type (Revenue, USD Million; 2016–2026)
Hydrocolloids (Agar, Alginates, and Carrageenans)
Application (Revenue, USD Million; 2016–2026)
Food & Beverages
Nutraceuticals & Dietary Supplements
Source (Revenue, USD Million; 2016–2026)
Others (yellow-brown algae and golden algae)
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Key Takeaways from the Global Algae Products Market report:
The global Algae Products market report entails a broad product segmentation.
It methodically evaluates the overall product expanse of this business space.
The report covers pivotal information about the accrued market share of each product type, their profit estimations, and production growth graph.
The report provides the reader with a generic summary of the application gamut of the global Algae Products market.
The report further details the market share and product demand for each application segment.
The study estimates the growth rate of each application segment over the projected timeframe.
Moreover, the report offers crucial information on the different parameters boosting the global market expansion, such as raw material production and market concentration rates.
Table Of Contents:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Algae Products Market Segmentation & Impact Analysis
Chapter 5. Algae Products Market, By Type Insights & Trends
Chapter 6. Algae Products Market, By Application Insights & Trends
Chapter 7. Algae Products Market, By End Use Insights & Trends
Chapter 8. Algae Products Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
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Keywords: Algae Products Market, Algae Products Industry, Algae Products Market size, Algae Products Market share, Algae Products Market trend, Algae Products Market forecast, Algae Products Market growth, Algae Products Market 2020, Algae Products Market COVID-19 Impact Analysis Report