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.
This report on the Algae Products market delivers a cumulative synopsis of the speculations of this business, overall, along with an evaluation of its segmentations. It predicts the Algae Products market to advance as one of the most profitable verticals, generating massive revenue by the end of the forecast years, exhibiting a sizable growth rate over the calculated period.
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Companies profiled in this market study:
Euglena Co., Ltd., Algae Systems LLC., Cyanotech Corporation, Cargill, BIOPROCESS ALGAE, Algenol Biofuels Inc., LLC, Corbion, Algatechnologies, Cellana Inc., and Earthrise Nutritional.
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.
• Asia-Pacific regional segment of these product market is expected to remain highest growing segment during 2019-2026, at a CAGR of 6.2%; owing it to the untapped market potential offered by these products in developing nations such as China & India.
• The Pharmaceuticals segment is expected to have a 20% market share during 2018-2026. These products are used in many pharma industries and end-use industries for production.
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For this report, Reports and Data has segmented the algae products market based on type, Application, Source, and region:
Type (Revenue, USD Million; 2016–2026)
• Spirulina
• Chlorella
• Astaxanthin
• Beta Carotene
• Hydrocolloids (Agar, Alginates, and Carrageenans)
Application (Revenue, USD Million; 2016–2026)
• Food & Beverages
• Nutraceuticals & Dietary Supplements
• Personal Care
• Feed
• Pharmaceuticals
• Chemicals
• Fuel
Source (Revenue, USD Million; 2016–2026)
• Brown
• Blue-green
• Green
• Red
• Others (yellow-brown algae and golden algae)
Regional Outlook (Revenue in USD Million; 2016–2026)
• North America
o U.S.
o Canada
o Mexico
• Europe
o France
o Germany
o UK
o Italy
o Russia
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa
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Identifying the basic business drivers, challenges, and tactics adopted:
• The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Algae Products market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
• An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
• Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
• The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
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