Global Microalgae Market Overview:
According to SPER Market Research, the Global Microalgae Market is estimated to reach USD 1.81 billion by 2030 with a CAGR of 7.4%.
Microalgae, commonly known as single-celled algae, are tiny forms of algae. The term "macrophytes" is also used to describe them. They can survive either individually or in colonies. These little organisms can photosynthesize in both freshwater and saltwater. According on their species, they can range in size from a few micrometres to hundreds of micrometres, with different shapes and sizes. The main function of microalgae is the production of algal biomass from water, carbon dioxide, and sunshine. Vitamins A, B1, B2, C, E, protein, iron, and magnesium are among the nutrients and minerals found in abundance in microalgae. These qualities allow for the commercial application of microalgae in a variety of fields, including biofuels, pharmaceuticals, food & feed, and cosmetics. The use of microalgae products in various industries results in a rise in consumer awareness of these items.
The increasing use of algal protein in food and dietary supplements is responsible for the market's expansion. Furthermore, as algal protein is not regarded as an animal protein source, it is ideal for intake by vegans. strict laws prohibiting the use of artificial colours and flavours, rising levels of malnutrition, increased demand for products made from spirulina, particularly Omega-3 fatty acids, growing spirulina use in aquaculture, increasing investments from renowned colour companies, and spirulina used in aquaculture are all contributing factors. The growing market for microalgae benefits from the increase in investment in algae production. In order to advance their strategy for generating renewable energy and reducing their carbon footprint, many leading microalgae enterprises are expanding in the UK. n the past ten years, the feed and cosmetics industries have both seen rapid growth, which has increased demand for both goods globally and raised the price of microalgae. The ageing population, increasing consumer awareness of preventative healthcare, the rise of the self-directed consumer (self-diagnosis over health practitioner diagnosis), channel proliferation (various marketing techniques and E-Commerce), and the transition from ingredient-focused messaging to broader brand positioning are all contributing factors to the growth of the dietary supplement industry (grouping supplements together solely to form a healthy benefits package). Globally, the price and sales of nutritional, herbal, and vitamin products are significantly increasing.
The market is segmented on the basis of type, category, grade, application, distribution channel and form. On the basis of type, the market growth is mostly attributed to spirulina. The reason for the rise is that it produces dietary supplements effectively since it has qualities like phycocyanins, antioxidants, phenolics, and anti-inflammation.On the basis of application, the dietary supplements hold the biggest market share in this application. This is due to the microalgae's abundance of nutrients like protein, vitamins, and minerals. Microalgae are perfect for the manufacturing of pills, powders, and capsules since they contain these nutrients.
The components used to produce microalgae or biofuels derived from microalgae are more expensive, which can obstruct the expansion of the microalgae industry as small businesses consider entering the microalgae market for production. Climate uncertainty is a major restraint on the market's growth.
Impact of COVID-19 on the Global Microalgae Market
COVID-19 had a positive impact on the global microalgae market. Production of microalgae momentarily ceased, and the production facilities were shut down for a while. However, throughout the lockdown, there has been a rise in demand for microalgae. This is because customers all over the world have started spending money on dietary supplements and food that has been fortified in order to stay healthy.
Scope of the Report
| Report Metric | Details |
| Market size available for years | 2019-2030 |
| Base year considered | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | By Type, By Category, By Grade, By Application, By Distribution Channel, By Form |
| Geographies covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Algarithm, Algaecytes, Algenol Biotech, Bioprocess Algae Llc, Cellana Inc, Cyanotech Corporation, Dic Corporation, Euglena Co., Fuqing King Dnarmsa Spirulina Co., Ltd., Henry Lamotte Oils GmbH, Lyxia, Necton SA, Royal Dsm Ocean Nutrition, Terravia Holdings Inc.
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Global Microalgae Market Segmentation:
By Type: Based on the Type, Global Microalgae Market is segmented as; Spirulina, Chlorella, Dunaliella Salina, Aphanizomenon, Others.
By Category: Based on the Category, Global Microalgae Market is segmented as; Organic and Inorganic.
By Grade: Based on the Grade, Global Microalgae Market is segmented as; Feed Grade, Fuel Grade, Food Grade, Others.
By Application: Based on the Application, Global Microalgae Market is segmented as; Pharmaceuticals, Cosmetics, Bio-Fuel, Food/ Feed, Inks, Others.
By Distribution Channel: Based on the Distribution Channel, Global Microalgae Market is segmented as; Direct and Indirect.
By Form: Based on the Form, Global Microalgae Market is segmented as; Liquid and Powder/Dry
By Region: Throughout the projected period, North America is anticipated to continue to lead the microalgae market. Increased knowledge of the nutritional benefits of microalgae in the cosmetic, dietary supplement, and food/feed industries are the key drivers fueling the growth of the microalgae market in the area. Additionally, the industry is growing as a result of rising disposable income and improvements in health and fitness.
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Microalgae Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Global Microalgae Market, By Type, 2019-2030 (USD Million)
6.1 Spirulina
6.2 Chlorella
6.3 Dunaliella Salina
6.4 Aphanizomenon
6.5 Others
7. Global Microalgae Market , By Category, 2019-2030 (USD Million)
7.1 Organic
7.2 Inorganic
8. Global Microalgae Market, By Grade, 2019-2030 (USD Million)
8.1 Feed Grade
8.2 Fuel Grade
8.3 Food Grade
8.4 Others
9. Global Microalgae Market, By Application, 2019-2030 (USD Million)
9.1 Pharmaceuticals
9.2 Cosmetics
9.3 Bio-Fuel
9.4 Food/ Feed
9.5 Inks
9.6 Others
10. Global Microalgae Market, By Distribution Channel, 2019-2030 (USD Million)
10.1 Direct
10.2 Indirect
11. Global Microalgae Market, By Form, 2019-2030 (USD Million)
11.1 Liquid
11.2 Powder/Dry
12 Global Microalgae Market, By Region, 2019-2030 (USD Million)
12.1 North America
12.1.1. United States
12.1.2. Canada
12.1.3. Mexico
12.2 Europe
12.2.1. Germany
12.2.2. United Kingdom
12.2.3. France
12.2.4. Italy
12.2.5. Spain
12.2.6. Rest of Europe
12.3 Asia-Pacific
12.3.1. China
12.3.2. Japan
12.3.3. India
12.3.4. Australia
12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4 South America
12.4.1. Brazil
12.4.2. Argentina
12.4.3. Rest of South America
12.5 Middle East & Africa
12.5.1. Kingdom of Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. Rest of Middle East & Africa
13 Company Profiles
13.1 Algarithm
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2 Algaecytes
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3 Algenol Biotech
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4 Bioprocess Algae Llc
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5 Cellana Inc
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6 Cyanotech Corporation
13.6.2. Financial outlook
13.6.4. Recent developments
13.7 Dic Corporation
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8 Euglena Co.
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9 Fuqing King Dnarmsa Spirulina Co., Ltd.
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Henry Lamotte Oils GmbH
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11 Lyxia
13.11.1. Company details
13.11.2. Financial outlook
13.11.3. Product summary
13.11.4. Recent developments
13.12. Necton SA
13.12.1. Company details
13.12.2. Financial outlook
13.12.3. Product summary
13.12.4. Recent developments
13.13. Royal Dsm Ocean Nutrition
13.13.1. Company details
13.13.2. Financial outlook
13.13.3. Product summary
13.13.4. Recent developments
13.14 Terravia Holdings Inc.
13.14.1. Company detail
13.14.2. Financial outlook
13.14.3. Product summary
13.14.4. Recent developments