Algae Products Market Projected to Witness Optimistic Growth Trajectory on Backdrop of Multiple Factors

Business Industry Insights

Algae Products Market Set to Transform F&B and Biopolymer Industries

Market disrupting production platforms for food protein are underway which claim to generate recombinant proteins akin to those found in human breast milk and bovine milk. Set to revolutionize the food and beverage industry, a single-celled green algae species can release multiple proteins that are found in both plants and animal cells. Such protein rich algae would provide all the essential amino acids, fibers, iron, fatty acids and calcium needed by an infant in its first few months of development. With algae being given the moniker of ‘Food of the Future’, it is all set to herald a momentous growth in the algae products market.

Another important aspect of the growth of the algae products market is that environment friendly alternatives are growing in demand as biodegradable plastics made from naturally occurring substances such as algae are replacing fossil-fuel polymers. The algae products market is all set to get a jumpstart with algae being cultivated, harvested and dried to produce a starch that will unequivocally be used as a raw material for bio-plastics.

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Global Algae Products Market: Key Players

Some of the key players operating in the global algae products market are,

  • Cargill Inc.
  • The Dow Chemical Company
  • BASF SE
  • Cyanotech Corporation
  • Kerry Group
  • Ingredion Incorporated
  • Corbion N.V.
  • Roquette Frères
  • CP Kelco
  • Fenchem Biotek
  • Algatechnologies
  • Koninklijke DSM N.V.

among others.

Algae Products Market Outlook

Algae are the group of plant like microorganisms that convert sunlight, carbon dioxide and nutrients into organic matter thus, replacing many commonly used oils such as fossil, fish and palm and proteins such as animal and plant protein. An estimated 200 species of algae are currently being used across various application areas including food, feed and fertilizer applications. Algae products are derived from two large broad categories of algae including, macro-algae and micro-algae. Microalgae are small single cell microorganism while the microalgae are large aquatic plants.

Algae products derived from microalgae are primarily used in bio plastics, biofuels, and fertilizers, pharmaceutical applications while algae products derived from the microalgae are used in cosmetics, pharmaceuticals and food additives. Some of the commercially products algae products are derived from algae species such as, Spirulina and Chlorella. The global algae products market is expected to witness remarkable growth attributable to growing consumers demand for products with natural origin.

Key Developments In Algae Products Market

  • In 2016, Nutrex Hawaii, a U.S. based subsidiary of Cyanotech Corporation launched a plant based protein shake under the brand name “Hawaiian Spirulina”
  • In June 2015, Cyanotech Corp installed a new Astaxanthin extraction system at Cyanotech production facility at Kailua-Kona, Hawaii. The new extraction system is installed to reduce overall inventory cycle time as well as costs for natural Astaxanthin product due to increasing demand in the country, thus expending n global algae products market
  • In January 2015, Sensient Colors LLC, a Germany based subsidiary of Sensient Technologies Corp., developed proprietary technology in the extraction of Spirulina blue and started producing it from the same year thus, expanding its presence in algae products market

Reasons for Covering Algae Products Market

Increasing prevalence of various life threatening diseases is one of the prime reasons for changing consumer’s preference for naturally derived products. After approval of spirulina and other algae for use in various food, feed, nutraceuticals and cosmetic applications, the market for these algae products started increasing. For example, in 2016, DDW Inc. launched an algae product in the form of innovative blue color made from Spirulina with light stability improved by up to 40%. Earlier form of blue color produced by the company has poor heat and light stability.

Also, demand for algae products for cosmetic applications such as in skin care products including, anti-ageing, regenerant care products, emollient and as an anti- irritant in peelers is further adding up to the growing market for algae products over the forecast period.

Global Algae Products: Market Segmentation

On the basis of product type, the global algae products market has been segmented as –

  • Hydrocolloids
  • Carotenoids and Pigments
    • Lutein
    • Beta Carotene
    • Lycopene
    • Astaxanthin
    • Fucoxanthin
    • Others
  • Antioxidants
  • Lipids
  • Proteins
  • Others

On the basis of form, the global algae products market has been segmented as –

  • Powder
  • Liquid

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