DUBLIN--(BUSINESS WIRE)--The "Algae Products Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Algae Products Market is forecasted to register a CAGR of 5.1% during the forecast period (2019-2024).
Algae have wide applications as functional ingredients in various food products since they are rich in essential oils such as Omega-3 Fatty Acids and Poly-Unsaturated Fatty Acids (PUFA). The widest application of Omega-3 Fatty Acids and PUFA is in health food products and pharmaceuticals.
North America holds the largest share of the Global algae products market on account of a high level of consumer awareness about the nutritional benefits of the ingredient. By source, Brown Algae accounts for the largest share of the market.
Companies Mentioned
- Kerry Group Plc
- Archer Daniels Midland Company
- ACCEL Carrageenan Corporation
- TBK Manufacturing Corporation
- Cargill, Incorporated
- Caldic B.V.
- DuPont de Nemours, Inc.
- FMC Corporation
Key Market Trends
By Application Pharmaceuticals Occupied the Largest Market Share
As a novel extrusion aid, algae-products such as carrageenan is used for the production of pellets polymer, as a matrix in oral extended-release tablets and as a stabilizer in micro or nanoparticle systems. It is used as a gelling agent and viscosity improving agent, for the controlled drug release and prolonged retention, which is based on the special features of carrageenan, such as gelling and strong negative charge. Moreover, sodium alginate, extracted from brown seaweed is used as a gel in pharmaceutical preparations. Key players including DSM are extensively catering to the rising demand for algae products with their wide range of product offerings.
Asia-Pacific is the Fastest Growing Region of the Market Studied
The Asia-Pacific is anticipated to record the fastest growth in the market studied, during the forecast period. Algae products, that are used in food processing, is mostly grown in the Philippines, Vietnam, and Indonesia, among other Asian countries. The region is anticipated to account for a large share in the carrageenan production industry, owing to the possibility of the cultivation of high-quality carrageenan. The algae-based superfoods like Spirulina and Chlorella provide nutritious, vegan supplements for human consumption. In the Asia-Pacific region, the rising consumption nutraceuticals majorly in China and Japan is further assisting the market growth in the region.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Source
5.1.1 Brown Algae
5.1.2 Red Algae
5.1.3 Green Algae
5.1.4 Blue-green Algae
5.2 By Product Type
5.2.1 Algal Protein
5.2.2 Alginate
5.2.3 Carrageenan
5.2.4 Carotenoids
5.2.5 Lipids
5.2.6 Other Product Types
5.3 By Application
5.3.1 Personal Care
5.3.2 Food and Beverage
5.3.3 Dietary Supplements
5.3.4 Pharmaceuticals
5.3.5 Animal Feed
5.3.6 Other Applications
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 South America
5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/7zjpyt
