Algae Market

Algae Market - Global Industry Insights, Trends,
Outlook and Opportunity Analysis, 2018-2026
Algae is a diverse group of organisms ranging from unicellular to multicellular. The
complex and largest marine algae are called seaweeds. The algae consist of
chloroplast, which is similar to cyanobacteria in structure. Algae has its wide
application in agar, alginates, fertilizer, energy source, nutrition, pigments, and
bioremediation. Algae has wide range of usage in terms of pollution control. It is
used as an alternative for toxic chemicals to treat sewers, to capture fertilizer runoff
in farms, and to treat water in ponds and aquaria.
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Algae has the ability to offer higher yield as compared to biofuel feedstock containing
sorghum, corn Stover, beet, and corn. Thus, creating immense opportunities for
growth of the algae market. Growing research and development activities among
manufacturers is expected to fuel the market growth. Increasing demand for reliable,
sustainable, and low cost sources of energy to ease the petroleum supply chain and
to meet the increasing demand from aviation and automotive sector, are major
factors expected to drive growth of the global algae market during the forecast
period. Moreover, the demand for algae in the plastic industry to manufacture
biodegradable plastic, is another factor boosting market growth.
Algae Market outlook:
North America accounts for the largest market share in the global algae market due
to favorable government support related to renewable energy coupled with high
investment by manufacturers. Also, DHA has various health benefits such as
improving eye, brain, heart and immunity system hence it is a major component of
pharmaceutical and healthcare products. These factors are expected to augment the
growth of algae market in this region.
Increasing demand for biofuels due to government regulations and high adoption
rate in the European countries are expected to propel demand for algae, in turn,
boosting growth of the algae market. Furthermore, various regulations laid down by
the European Union such as biofuels directives, target to achieve 6% reduction of
GHG in transport fuel by 2020, Renewable Energy Directives (RED) initiative of
replacing 10% of transport fuels with biofuels are the major factors driving the algae
market in Europe. The need for a clean energy source in the region has further
surged the demand for algae in the region. Germany, Russia, and UK are
extensively using and commercializing various solar powered technology for the
production of algae.
The usage of algae in the pharmaceutical industries has substantially increased over
the recent past. Companies are investing in R&D activities to develop treatments for
Alzheimer’s, Parkinson’s, and dementia using algae. East Asia and South Asia have
the highest number of people suffering from dementia in the world, accounting for
above 9 million in East Asia and around 5 million in South Asia.
Key players are adopting various organic and inorganic growth strategies. For
instance, a Belgian-based company, Tomalgea, has launched a new product in 2017
for oyster cultivators in Asia and Algae Systems LLC merged with IHI Corporation in
2014 for the development of a new production process for biofuel from algae. Pond
biofuels Inc., DSM Nutritional Products, Kai BioEnergy Corp., Diversified Energy
Corporation, Algenol, Dao Energy LLC, Kent BioEnergy Co., Sapphire Energy Inc.,
Algaetech International, Aurora Algae, BlueBioTech International, and Alltech Algae
are some of the key players in the global algae market.
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Algae Market report categorizes the global market by Cultivation Technology (Raceway Ponds Cultivation, Open Ponds Cultivation, Closed Fermenter Systems Cultivation, Closed Photo Bioreactor Cultivation), and Application (Marine Sector, Road Transport, Bio plastic, Others) - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2018-2026