Global algae products market to reach USD 6.7 billion by 2027. Global algae products market is valued approximately at USD 4.4 billion in 2020 and is anticipated to grow with a healthy growth rate of about 6.3% over the forecast period 2021-2027. Algae products are feed formulations or food which are prepared by micro or macro - algae. Commonly used algae in the algae products include kelp, seaweed, spirulina and chlorella. Owing to high nutrient excellence, algae products find application across nutraceuticals, feed and food supplements, pollution control and pharmaceuticals. The global algae products market is being driven by consumer awareness regarding health benefits of Omega - 3 and growing demand in the pharmaceutical industry. Furthermore, rising demand for natural ingredients by consumers will provide new opportunities for the global algae products industry. Market players across the globe are strengthening their presence in the market through different strategic initiatives. For instance, in 2020, Cyanotech Corporation launched BioAstin Hawaiian Astaxanthin which is a new delivery form, a water-dispersible powder and available in both, 1% and 2% concentrations. BioAstin Hawaiian Astaxanthin antioxidant is derived from natural Haematococcus pluvialis micro-algae. In 2020, Cargill launched WavePure ADG series, sourced from Gracilaria red seaweed. Such strategic initiatives taken by the market players are expected to proliferate the adoption of algae products which is expected to boost the market growth. However, impact of climatic conditions on algae production may impede market growth over the forecast period of 2021-2027.
On the basis of region, the global algae products market is segmented into Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America accounts to be the dominating region in terms of market revenue in the global algae products and is expected to maintain its dominance during the forecast period 2021-2027. Growth in industries, such as nutraceutical, pharmaceutical, food & beverage, and dietary supplement, rise in health-conscious of consumers, increase in the use of lipids such as omega-3, etc. are some of the major factors which are expected to contribute towards the dominance of the North American region in the forecast years.

Major market player included in this report are:
DSM
BASF
Cyanotech Corporation
Cargill
Dupont
CP Kelco
Corbion
Fenchem Biotech
Algatech
E.I.D Parry

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Lipids
Carrageenan
Carotenoids
Algae protein
Alginates
Other types
By Application:
Food & beverage
Nutraceutical & diet supplement
Animal feed
Personal care
Pharmaceutical
Other applications
By Source:
Brown algae
Blue-green algae
Green algae
Red algae
Other sources
By Form:
Solid
Liquid
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Algae Products Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors