Table of Content

1    INTRODUCTION    30
1.1    STUDY OBJECTIVES    30
1.2    MARKET DEFINITION    31
1.3    STUDY SCOPE    31
1.3.1    MARKETS COVERED    31
FIGURE 1    MARKET SEGMENTATION    31
1.3.2    REGIONS COVERED    32
FIGURE 2    ALGAE PRODUCTS MARKET, BY REGION    32
1.4    INCLUSIONS & EXCLUSIONS    32
1.5    YEARS CONSIDERED    33
1.6    CURRENCY CONSIDERED    33
TABLE 1    USD EXCHANGE RATES CONSIDERED, 2019–2022    34
1.7    STAKEHOLDERS    34
1.8    SUMMARY OF CHANGES    34
1.8.1    RECESSION IMPACT ANALYSIS    35
2    RESEARCH METHODOLOGY    36
2.1    RESEARCH DATA    36
FIGURE 3    ALGAE PRODUCTS MARKET: RESEARCH DESIGN    36
2.1.1    SECONDARY DATA    37
2.1.1.1    Key data from secondary sources    37
2.1.2    PRIMARY DATA    37
2.1.2.1    Key data from primary sources    38
2.1.2.2    Key insights from industry experts    38
2.1.2.3    Breakdown of primary interviews    39
FIGURE 4    BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION    39
2.2    MARKET SIZE ESTIMATION    40
2.2.1    MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH    40
FIGURE 5    ALGAE PRODUCTS MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH    41
2.2.2    MARKET SIZE ESTIMATION: TOP-DOWN APPROACH    42
FIGURE 6    ALGAE PRODUCTS MARKET SIZE ESTIMATION: TOP-DOWN APPROACH    42
FIGURE 7    ALGAE PRODUCTS MARKET SIZE ESTIMATION (DEMAND SIDE)    43
FIGURE 8    ALGAE PRODUCTS MARKET SIZE ESTIMATION, BY TYPE (SUPPLY SIDE)    43
2.3    DATA TRIANGULATION    44
FIGURE 9    DATA TRIANGULATION METHODOLOGY    44
2.4    GROWTH RATE FORECAST    44
2.5    RESEARCH ASSUMPTIONS    45
FIGURE 10    RESEARCH ASSUMPTIONS    45
2.6    LIMITATIONS AND ASSOCIATED RISKS    46
TABLE 2    LIMITATIONS AND ASSOCIATED RISKS    46
2.7    RECESSION IMPACT ANALYSIS    46
2.7.1    RECESSION IMPACT ON ALGAE PRODUCTS MARKET    47
2.7.1.1    Macroindicators of recession    47
FIGURE 11    RECESSION INDICATORS AND THEIR IMPACT ON ALGAE PRODUCTS MARKET    47
FIGURE 12    GLOBAL ALGAE PRODUCTS MARKET: EARLIER FORECAST VS. RECESSION FORECAST    48
3    EXECUTIVE SUMMARY    49
TABLE 3    ALGAE PRODUCTS MARKET SNAPSHOT, 2023 VS. 2028    50
FIGURE 13    ALGAE PRODUCTS MARKET, BY TYPE, 2023 VS. 2028 (USD MILLION)    51
FIGURE 14    ALGAE PRODUCTS MARKET, BY FORM, 2023 VS. 2028 (USD MILLION)    51
FIGURE 15    ALGAE PRODUCTS MARKET, BY SOURCE, 2023 VS. 2028 (USD MILLION)    52
FIGURE 16    ALGAE PRODUCTS MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION)    52
FIGURE 17    ALGAE PRODUCTS MARKET SHARE, BY REGION, 2022    53
4    PREMIUM INSIGHTS    55
4.1    ATTRACTIVE OPPORTUNITIES FOR COMPANIES IN ALGAE PRODUCTS MARKET    55
FIGURE 18    INCREASING AWARENESS OF HEALTH AND WELLNESS TO DRIVE MARKET GROWTH    55
4.2    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY TYPE AND COUNTRY    56
FIGURE 19    US ACCOUNTED FOR LARGEST SHARE, BY COUNTRY; LIPIDS DOMINATED, BY TYPE, IN 2022    56
4.3    ALGAE PRODUCTS MARKET: REGIONAL SUBMARKETS    57
FIGURE 20    US ACCOUNTED FOR LARGEST MARKET SHARE, BY COUNTRY    57
4.4    ALGAE PRODUCTS MARKET, BY SOURCE AND REGION    58
FIGURE 21    NORTH AMERICA TO DOMINATE ALGAE PRODUCTS MARKET, BY SOURCE, 2023 VS. 2028    58
4.5    ALGAE PRODUCTS MARKET, BY FORM, 2023 VS. 2028    59
FIGURE 22    SOLID SEGMENT TO ACCOUNT FOR LARGER SHARE BY 2028    59
5    MARKET OVERVIEW    60
5.1    INTRODUCTION    60
5.2    MACROECONOMIC INDICATORS    61
5.2.1    INCREASING GLOBAL POPULATION    61
FIGURE 23    WORLD POPULATION, BY ECONOMY    61
FIGURE 24    WORLD POPULATION, 1950–2021    62
FIGURE 25    POPULATION GROWTH TREND, 1950–2050    62
5.2.2    INNOVATIVE TECHNOLOGIES FOR EXTRACTION OF ALGAE    62
5.3    MARKET DYNAMICS    63
FIGURE 26    MARKET DYNAMICS: ALGAE PRODUCTS MARKET    63
5.3.1    DRIVERS    63
5.3.1.1    Growing consumer awareness regarding health benefits of Omega-3    63
TABLE 4    HEALTH BENEFITS ASSOCIATED WITH OMEGA-3 CONSUMPTION    64
5.3.1.2    Growing applications of algae products    65
5.3.1.3    Growing consumer awareness regarding health benefits of algae-based products    66
5.3.2    RESTRAINTS    67
5.3.2.1    Lack of R&D activities in developing economies    67
5.3.2.2    Impact of climatic conditions on algae production    68
5.3.3    OPPORTUNITIES    68
5.3.3.1    Growing demand in pharmaceutical industry    68
5.3.3.2    Government and private initiatives supporting research & development in algaculture    69
5.3.3.3    Growth in demand for natural ingredients by consumers    70
5.3.4    CHALLENGES    71
5.3.4.1    High production costs restricting entry of smaller players    71
FIGURE 27    OPERATING COST ALLOCATION FOR PHOTOBIOREACTORS (PBR)    72
5.3.4.2    Difficulties in meeting requisite quality standards    73
6    INDUSTRY TRENDS    74
6.1    INTRODUCTION    74
6.2    VALUE CHAIN ANALYSIS    74
6.2.1    RESEARCH & PRODUCT DEVELOPMENT AND REGISTRATION    74
6.2.2    PROCESSING    74
6.2.3    PACKAGING    75
6.2.4    DISTRIBUTION AND MARKETING & SALES    75
FIGURE 28    ALGAE PRODUCTS MARKET: VALUE CHAIN    75
6.3    TECHNOLOGY ANALYSIS    75
6.3.1    SEAWEED CAVITATION    75
6.3.2    ADVANCED CENTRIFUGE TECHNOLOGY    76
6.3.3    BOOM ALGAE FOR BREWING    76
6.4    TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES    76
FIGURE 29    ALGAE PRODUCTS MARKET: TRENDS IMPACTING BUYERS    77
6.5    PATENT ANALYSIS    77
FIGURE 30    PATENTS GRANTED FOR ALGAE PRODUCTS, 2012–2022    78
FIGURE 31    REGIONAL ANALYSIS OF PATENTS GRANTED FOR ALGAE PRODUCTS, 2012–2022    78
TABLE 5    KEY PATENTS PERTAINING TO ALGAE PRODUCTS, 2023    79
6.6    MARKET MAP    79
6.6.1    RAW MATERIAL SUPPLIERS    79
6.6.2    MANUFACTURERS    80
6.6.3    REGULATORY BODIES    80
6.6.4    END-USER COMPANIES    80
6.6.5    STARTUPS/EMERGING COMPANIES    80
FIGURE 32    ALGAE PRODUCTS MARKET MAP    81
TABLE 6    ALGAE PRODUCTS MARKET: ECOSYSTEM    81
6.7    TRADE SCENARIO    82
FIGURE 33    SEAWEED AND OTHER ALGAE PRODUCTS FIT FOR HUMAN CONSUMPTION: IMPORT VALUE, BY KEY COUNTRY, 2018–2022 (USD THOUSAND)    82
TABLE 7    IMPORT DATA OF SEAWEED AND OTHER ALGAE PRODUCTS FIT FOR HUMAN CONSUMPTION, BY KEY COUNTRY, 2022 (VALUE)    82
FIGURE 34    SEAWEED AND OTHER ALGAE PRODUCTS FIT FOR HUMAN CONSUMPTION: EXPORT VALUE, BY KEY COUNTRY, 2018–2022 (USD THOUSAND)    83
TABLE 8    EXPORT DATA OF SEAWEED AND OTHER ALGAE PRODUCTS FIT FOR HUMAN CONSUMPTION, BY KEY COUNTRY, 2022 (VALUE)    83
6.8    TARIFF AND REGULATORY LANDSCAPE    84
6.8.1    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    84
TABLE 9    NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    84
TABLE 10    EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    85
TABLE 11    ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    85
TABLE 12    REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    86
6.8.2    REGULATORY FRAMEWORK    86
6.8.2.1    North America    86
6.8.2.1.1    US    86
6.8.2.2    Europe    86
6.8.2.2.1    France    86
6.8.2.3    Asia Pacific    87
6.8.2.3.1    China    87
6.8.2.3.2    India    87
6.8.2.4    South America    87
6.8.2.4.1    Brazil    87
6.9    PORTER’S FIVE FORCES ANALYSIS    88
TABLE 13    ALGAE PRODUCTS MARKET: PORTER’S FIVE FORCES ANALYSIS    88
6.9.1    DEGREE OF COMPETITION    88
6.9.2    BARGAINING POWER OF SUPPLIERS    88
6.9.3    BARGAINING POWER OF BUYERS    88
6.9.4    THREAT OF SUBSTITUTES    89
6.9.5    THREAT OF NEW ENTRANTS    89
6.10    KEY STAKEHOLDERS & BUYING CRITERIA    89
6.10.1    KEY STAKEHOLDERS IN BUYING PROCESS    89
FIGURE 35    INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS    90
TABLE 14    INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS    90
6.10.2    BUYING CRITERIA    90
TABLE 15    KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS    91
FIGURE 36    KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS    91
6.11    CASE STUDY ANALYSIS    91
6.11.1    MIALGAE: DEVELOPMENT OF NOVEL ALGAE PRODUCTION SYSTEM    91
6.11.2    ALGAECYTES: ADOPTION OF PROPRIETARY ALGAE STRAINS FOR OMEGA-3 EXTRACTION    92
6.12    KEY CONFERENCES & EVENTS IN 2023    92
TABLE 16    ALGAE PRODUCTS MARKET: DETAILED LIST OF CONFERENCES & EVENTS, 2023    92
7    ALGAE PRODUCTS MARKET, BY SOURCE    93
7.1    INTRODUCTION    94
TABLE 17    CHARACTERISTICS OF DIFFERENT ALGAE, BY PHYLUM/CLASS    94
FIGURE 37    ALGAE PRODUCTS MARKET, BY SOURCE, 2023 VS. 2028 (USD MILLION)    95
TABLE 18    ALGAE PRODUCTS MARKET, BY SOURCE, 2018–2022 (USD MILLION)    95
TABLE 19    ALGAE PRODUCTS MARKET, BY SOURCE, 2023–2028 (USD MILLION)    95
7.2    BROWN ALGAE    96
7.2.1    GROWING USE OF BROWN ALGAE IN MANUFACTURING BIOPLASTICS TO DRIVE MARKET    96
7.2.2    CAROTENOIDS: FUCOXANTHIN    96
7.2.3    PHLOROTANNINS    97
TABLE 20    BROWN ALGAE: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    97
TABLE 21    BROWN ALGAE: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    97
7.3    BLUE-GREEN ALGAE    98
7.3.1    FUNCTIONAL PROPERTIES OF BLUE-GREEN ALGAE TO SUPPORT GROWTH    98
TABLE 22    BLUE-GREEN ALGAE: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    98
TABLE 23    BLUE-GREEN ALGAE: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    99
7.4    RED ALGAE    99
7.4.1    GROWING INDUSTRIAL APPLICATIONS OF CARRAGEENAN TO BOOST ADOPTION    99
7.4.2    PORPHYRA SPP.    100
7.4.3    PALMARIA PALMATA    100
TABLE 24    RED ALGAE: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    101
TABLE 25    RED ALGAE: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    101
7.5    GREEN ALGAE    102
7.5.1    GROWING CONSUMPTION OF OMEGA-3 TO BOOST MARKET FOR GREEN ALGAE    102
TABLE 26    GREEN ALGAE: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    102
TABLE 27    GREEN ALGAE: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    102
7.6    OTHER SOURCES    103
TABLE 28    OTHER SOURCES: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    103
TABLE 29    OTHER SOURCES: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    103
8    ALGAE PRODUCTS MARKET, BY FORM    104
8.1    INTRODUCTION    105
TABLE 30    ALGAE PRODUCTS MARKET, BY FORM, 2018–2022 (USD MILLION)    105
TABLE 31    ALGAE PRODUCTS MARKET, BY FORM, 2023–2028 (USD MILLION)    105
FIGURE 38    ALGAE PRODUCTS MARKET, BY FORM, 2023 VS. 2028 (USD MILLION)    106
8.2    SOLID    106
8.2.1    VERSATILITY OF SOLID ALGAE PRODUCTS TO DRIVE MARKET GROWTH    106
TABLE 32    SOLID: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    107
TABLE 33    SOLID: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    107
8.3    LIQUID    108
8.3.1    GROWING APPLICATIONS IN PHARMACEUTICALS TO BOOST DEMAND FOR LIQUID ALGAE PRODUCTS    108
TABLE 34    LIQUID: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    109
TABLE 35    LIQUID: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    109
9    ALGAE PRODUCTS MARKET, BY TYPE    110
9.1    INTRODUCTION    111
FIGURE 39    ALGAE PRODUCTS MARKET, BY TYPE, 2023 VS. 2028 (USD MILLION)    111
TABLE 36    ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    111
TABLE 37    ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    112
9.2    LIPIDS    112
9.2.1    GROWING USE OF LIPIDS SOURCED FROM ALGAE AS ALTERNATIVES TO FISH OIL TO BOOST MARKET    112
TABLE 38    LIPIDS: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    113
TABLE 39    LIPIDS: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    113
9.3    CARRAGEENANS    114
9.3.1    EXTENSIVE APPLICATIONS OF CARRAGEENANS IN PHARMACEUTICAL AND FOOD & BEVERAGE SECTORS TO FUEL ADOPTION    114
TABLE 40    CARRAGEENANS: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    114
TABLE 41    CARRAGEENANS: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    115
9.4    CAROTENOIDS    115
9.4.1    GROWING DEMAND FOR NATURAL CAROTENOIDS TO SUPPORT GROWTH    115
TABLE 42    CAROTENOIDS: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    116
TABLE 43    CAROTENOIDS: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    116
9.5    ALGAL PROTEINS    117
9.5.1    GROWING DEMAND FOR ALGAL PROTEINS IN NUTRACEUTICAL INDUSTRY TO FAVOR MARKET GROWTH    117
TABLE 44    ALGAL PROTEINS: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    118
TABLE 45    ALGAL PROTEINS: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    118
9.6    ALGINATES    118
9.6.1    GROWING USE OF ALGINATES AS BLENDING AGENTS IN FOOD & BEVERAGE PRODUCTS TO BOOST MARKET    118
TABLE 46    ALGINATES: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    119
TABLE 47    ALGINATES: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    119
9.7    OTHER ALGAE PRODUCTS    120
TABLE 48    OTHER ALGAE PRODUCTS: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    120
TABLE 49    OTHER ALGAE PRODUCTS: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    120
10    ALGAE PRODUCTS MARKET, BY APPLICATION    121
10.1    INTRODUCTION    122
FIGURE 40    ALGAE PRODUCTS MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION)    122
TABLE 50    ALGAE PRODUCTS MARKET, BY APPLICATION, 2018–2022 (USD MILLION)    123
TABLE 51    ALGAE PRODUCTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION)    123
10.2    FOOD & BEVERAGES    124
10.2.1    GROWING DEMAND FOR ALTERNATE PLANT PROTEIN SOURCES TO BOOST DEMAND FOR ALGAE PRODUCTS    124
TABLE 52    FOOD & BEVERAGES: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    125
TABLE 53    FOOD & BEVERAGES: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    125
10.3    NUTRACEUTICALS & DIETARY SUPPLEMENTS    125
10.3.1    GROWING POPULARITY OF ALGAE-BASED OMEGA-3 SUPPLEMENTS TO CONTRIBUTE TO GROWTH    125
TABLE 54    NUTRACEUTICALS & DIETARY SUPPLEMENTS: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    126
TABLE 55    NUTRACEUTICALS & DIETARY SUPPLEMENTS: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    127
10.4    ANIMAL FEED    127
10.4.1    ABILITY OF ALGAE-BASED ANIMAL FEED TO DELIVER ESSENTIAL MINERALS AND BOOST IMMUNITY TO SUPPORT GROWTH    127
TABLE 56    ANIMAL FEED: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    128
TABLE 57    ANIMAL FEED: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    128
10.5    PERSONAL CARE PRODUCTS    129
10.5.1    ANTI-INFLAMMATORY PROPERTIES OF ALGAE TO DRIVE GROWTH IN MARKET SEGMENT    129
TABLE 58    PERSONAL CARE PRODUCTS: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    130
TABLE 59    PERSONAL CARE PRODUCTS: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    130
10.6    PHARMACEUTICALS    131
10.6.1    ANTIBIOTIC PROPERTIES OF ALGAE PRODUCTS TO FUEL DEMAND    131
TABLE 60    PHARMACEUTICALS: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    131
TABLE 61    PHARMACEUTICALS: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    132
10.7    OTHER APPLICATIONS    132
TABLE 62    OTHER APPLICATIONS: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    132
TABLE 63    OTHER APPLICATIONS: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    133
11    ALGAE PRODUCTS MARKET, BY REGION    134
11.1    INTRODUCTION    135
FIGURE 41    INDIA TO RECORD SIGNIFICANT GROWTH DURING FORECAST PERIOD    136
TABLE 64    ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    136
TABLE 65    ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    137
11.2    NORTH AMERICA    137
11.2.1    NORTH AMERICA: RECESSION IMPACT ANALYSIS    137
FIGURE 42    NORTH AMERICAN ALGAE PRODUCTS MARKET: RECESSION IMPACT ANALYSIS    138
FIGURE 43    NORTH AMERICA: ALGAE PRODUCTS MARKET SNAPSHOT    138
TABLE 66    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY COUNTRY, 2018–2022 (USD MILLION)    139
TABLE 67    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)    139
TABLE 68    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    139
TABLE 69    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    140
TABLE 70    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY SOURCE, 2018–2022 (USD MILLION)    140
TABLE 71    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY SOURCE, 2023–2028 (USD MILLION)    140
TABLE 72    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY FORM, 2018–2022 (USD MILLION)    141
TABLE 73    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY FORM, 2023–2028 (USD MILLION)    141
TABLE 74    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY APPLICATION, 2018–2022 (USD MILLION)    141
TABLE 75    NORTH AMERICA: ALGAE PRODUCTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION)    142
11.2.2    US    142
11.2.2.1    Rising applications of algae products in food & beverages, nutraceuticals, and personal care products to boost market    142
TABLE 76    US: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    143
TABLE 77    US: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    143
11.2.3    CANADA    144
11.2.3.1    Rising preference for plant-based alternatives to favor market growth    144
TABLE 78    CANADA: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    145
TABLE 79    CANADA: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    145
11.2.4    MEXICO    145
11.2.4.1    Dietary concerns to boost demand for algae products    145
TABLE 80    MEXICO: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    146
TABLE 81    MEXICO: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    146
11.3    EUROPE    147
11.3.1    EUROPE: RECESSION IMPACT ANALYSIS    147
FIGURE 44    EUROPEAN ALGAE PRODUCTS MARKET: RECESSION IMPACT ANALYSIS    148
TABLE 82    EUROPE: ALGAE PRODUCTS MARKET, BY COUNTRY, 2018–2022 (USD MILLION)    148
TABLE 83    EUROPE: ALGAE PRODUCTS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)    148
TABLE 84    EUROPE: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    149
TABLE 85    EUROPE: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    149
TABLE 86    EUROPE: ALGAE PRODUCTS MARKET, BY SOURCE, 2018–2022 (USD MILLION)    149
TABLE 87    EUROPE: ALGAE PRODUCTS MARKET, BY SOURCE, 2023–2028 (USD MILLION)    150
TABLE 88    EUROPE: ALGAE PRODUCTS MARKET, BY FORM, 2018–2022 (USD MILLION)    150
TABLE 89    EUROPE: ALGAE PRODUCTS MARKET, BY FORM, 2023–2028 (USD MILLION)    150
TABLE 90    EUROPE: ALGAE PRODUCTS MARKET, BY APPLICATION, 2018–2022 (USD MILLION)    150
TABLE 91    EUROPE: ALGAE PRODUCTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION)    151
11.3.2    GERMANY    151
11.3.2.1    Growing demand for algae products for sports nutrition and animal feed to fuel growth    151
TABLE 92    GERMANY: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    152
TABLE 93    GERMANY: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    152
11.3.3    FRANCE    152
11.3.3.1    Reliance on algae imports to drive market for local algae products    152
TABLE 94    FRANCE: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    153
TABLE 95    FRANCE: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    153
11.3.4    SPAIN    154
11.3.4.1    Food & beverage industry to provide growth opportunities for algae products    154
TABLE 96    SPAIN: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    155
TABLE 97    SPAIN: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    155
11.3.5    UK    155
11.3.5.1    Growing awareness about algae products to drive market growth    155
TABLE 98    UK: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    156
TABLE 99    UK: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    156
11.3.6    ITALY    157
11.3.6.1    Increasing investments and expansions by market players to support growth    157
TABLE 100    ITALY: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    157
TABLE 101    ITALY: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    158
11.3.7    REST OF EUROPE    158
TABLE 102    REST OF EUROPE: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    158
TABLE 103    REST OF EUROPE: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    159
11.4    ASIA PACIFIC    159
11.4.1    ASIA PACIFIC: RECESSION IMPACT ANALYSIS    160
FIGURE 45    ASIA PACIFIC ALGAE PRODUCTS MARKET: RECESSION IMPACT ANALYSIS    161
FIGURE 46    ASIA PACIFIC: ALGAE PRODUCTS MARKET SNAPSHOT    161
TABLE 104    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY COUNTRY, 2018–2022 (USD MILLION)    162
TABLE 105    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)    162
TABLE 106    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    162
TABLE 107    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    163
TABLE 108    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY SOURCE, 2018–2022 (USD MILLION)    163
TABLE 109    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY SOURCE, 2023–2028 (USD MILLION)    163
TABLE 110    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY FORM, 2018–2022 (USD MILLION)    164
TABLE 111    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY FORM, 2023–2028 (USD MILLION)    164
TABLE 112    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY APPLICATION, 2018–2022 (USD MILLION)    164
TABLE 113    ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION)    165
11.4.2    CHINA    165
11.4.2.1    Use of algae in personal care to drive market in China    165
TABLE 114    CHINA: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    166
TABLE 115    CHINA: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    166
11.4.3    JAPAN    166
11.4.3.1    Growing use of organic products to propel market growth    166
TABLE 116    JAPAN: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    167
TABLE 117    JAPAN: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    167
11.4.4    INDIA    168
11.4.4.1    Presence of key market players to strengthen algae products market in country    168
TABLE 118    INDIA: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    168
TABLE 119    INDIA: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    169
11.4.5    AUSTRALIA & NEW ZEALAND    169
11.4.5.1    Rising awareness and growth of aquaculture industry to drive demand for algae products    169
TABLE 120    AUSTRALIA & NEW ZEALAND: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    170
TABLE 121    AUSTRALIA & NEW ZEALAND: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    170
11.4.6    REST OF ASIA PACIFIC    171
TABLE 122    REST OF ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    172
TABLE 123    REST OF ASIA PACIFIC: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    172
11.5    SOUTH AMERICA    173
11.5.1    SOUTH AMERICA: RECESSION IMPACT ANALYSIS    173
FIGURE 47    SOUTH AMERICAN ALGAE PRODUCTS MARKET: RECESSION IMPACT ANALYSIS    174
TABLE 124    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY COUNTRY, 2018–2022 (USD MILLION)    174
TABLE 125    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)    174
TABLE 126    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    175
TABLE 127    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    175
TABLE 128    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY SOURCE, 2018–2022 (USD MILLION)    175
TABLE 129    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY SOURCE, 2023–2028 (USD MILLION)    176
TABLE 130    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY FORM, 2018–2022 (USD MILLION)    176
TABLE 131    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY FORM, 2023–2028 (USD MILLION)    176
TABLE 132    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY APPLICATION, 2018–2022 (USD MILLION)    177
TABLE 133    SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION)    177
11.5.2    BRAZIL    177
11.5.2.1    Rising per capita income to fuel demand for quality algae products    177
TABLE 134    BRAZIL: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    178
TABLE 135    BRAZIL: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    178
11.5.3    ARGENTINA    179
11.5.3.1    Increasing preference for vegan diets to provide growth avenues    179
TABLE 136    ARGENTINA: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    179
TABLE 137    ARGENTINA: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    179
11.5.4    REST OF SOUTH AMERICA    180
TABLE 138    REST OF SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    180
TABLE 139    REST OF SOUTH AMERICA: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    181
11.6    REST OF THE WORLD    181
11.6.1    REST OF THE WORLD: RECESSION IMPACT ANALYSIS    182
FIGURE 48    REST OF THE WORLD ALGAE PRODUCTS MARKET: RECESSION IMPACT ANALYSIS    182
TABLE 140    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY REGION, 2018–2022 (USD MILLION)    183
TABLE 141    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY REGION, 2023–2028 (USD MILLION)    183
TABLE 142    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    183
TABLE 143    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    184
TABLE 144    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY SOURCE, 2018–2022 (USD MILLION)    184
TABLE 145    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY SOURCE, 2023–2028 (USD MILLION)    184
TABLE 146    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY FORM, 2018–2022 (USD MILLION)    185
TABLE 147    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY FORM, 2023–2028 (USD MILLION)    185
TABLE 148    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY APPLICATION, 2018–2022 (USD MILLION)    185
TABLE 149    REST OF THE WORLD: ALGAE PRODUCTS MARKET, BY APPLICATION, 2023–2028 (USD MILLION)    186
11.6.2    AFRICA    186
11.6.2.1    High prevalence of malnutrition to boost demand for algae products    186
TABLE 150    AFRICA: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    187
TABLE 151    AFRICA: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    187
11.6.3    MIDDLE EAST    187
11.6.3.1    Growing demand for algae products from nutraceutical sector to boost growth    187
TABLE 152    MIDDLE EAST: ALGAE PRODUCTS MARKET, BY TYPE, 2018–2022 (USD MILLION)    188
TABLE 153    MIDDLE EAST: ALGAE PRODUCTS MARKET, BY TYPE, 2023–2028 (USD MILLION)    188
12    COMPETITIVE LANDSCAPE    189
12.1    OVERVIEW    189
12.2    MARKET SHARE ANALYSIS, 2022    189
TABLE 154    ALGAE PRODUCTS MARKET: DEGREE OF COMPETITION    190
12.3    SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS    190
FIGURE 49    SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS, 2018–2022 (USD BILLION)    190
12.4    STRATEGIES ADOPTED BY KEY PLAYERS    191
TABLE 155    STRATEGIES ADOPTED BY KEY ALGAE PRODUCTS MANUFACTURERS    191
12.5    COMPANY EVALUATION QUADRANT FOR KEY PLAYERS    193
12.5.1    STARS    193
12.5.2    EMERGING LEADERS    193
12.5.3    PERVASIVE PLAYERS    193
12.5.4    PARTICIPANTS    193
FIGURE 50    ALGAE PRODUCTS MARKET: COMPANY EVALUATION QUADRANT, 2022 (KEY PLAYERS)    194
12.5.5    COMPANY FOOTPRINT    195
TABLE 156    COMPANY FOOTPRINT, BY TYPE    195
TABLE 157    COMPANY FOOTPRINT, BY APPLICATION    196
TABLE 158    COMPANY FOOTPRINT, BY REGION    197
TABLE 159    OVERALL COMPANY FOOTPRINT    197
12.6    COMPANY EVALUATION QUADRANT FOR STARTUPS/SMES    198
12.6.1    PROGRESSIVE COMPANIES    198
12.6.2    STARTING BLOCKS    198
12.6.3    RESPONSIVE COMPANIES    198
12.6.4    DYNAMIC COMPANIES    198
FIGURE 51    ALGAE PRODUCTS MARKET: COMPANY EVALUATION QUADRANT, 2022 (STARTUPS/SMES)    199
12.6.5    COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES    200
TABLE 160    ALGAE PRODUCTS MARKET: DETAILED LIST OF KEY STARTUPS/SMES    200
TABLE 161    ALGAE PRODUCTS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES    201
12.7    COMPETITIVE SCENARIO    202
12.7.1    PRODUCT LAUNCHES    202
TABLE 162    ALGAE PRODUCTS MARKET: NEW PRODUCT LAUNCHES, 2020–2022    202
12.7.2    DEALS    203
TABLE 163    ALGAE PRODUCTS MARKET: DEALS, 2019–2021    203
13    COMPANY PROFILES    204
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
13.1    KEY PLAYERS    204
13.1.1    DSM    204
TABLE 164    DSM: BUSINESS OVERVIEW    204
FIGURE 52    DSM: COMPANY SNAPSHOT (2022)    205
TABLE 165    DSM: PRODUCTS OFFERED    205
13.1.2    BASF SE    207
TABLE 166    BASF SE: BUSINESS OVERVIEW    207
FIGURE 53    BASF SE: COMPANY SNAPSHOT (2022)    208
TABLE 167    BASF SE: PRODUCTS OFFERED    208
13.1.3    CYANOTECH CORPORATION    210
TABLE 168    CYANOTECH CORPORATION: BUSINESS OVERVIEW    210
FIGURE 54    CYANOTECH CORPORATION: COMPANY SNAPSHOT (2022)    210
TABLE 169    CYANOTECH CORPORATION: PRODUCTS OFFERED    211
TABLE 170    CYANOTECH CORPORATION: PRODUCT LAUNCHES    211
13.1.4    CARGILL, INCORPORATED    213
TABLE 171    CARGILL, INCORPORATED: BUSINESS OVERVIEW    213
FIGURE 55    CARGILL, INCORPORATED: COMPANY SNAPSHOT (2022)    213
TABLE 172    CARGILL, INCORPORATED: PRODUCTS OFFERED    214
TABLE 173    CARGILL, INCORPORATED: PRODUCT LAUNCHES    214
13.1.5    CP KELCO U.S., INC.    216
TABLE 174    CP KELCO U.S., INC.: BUSINESS OVERVIEW    216
TABLE 175    CP KELCO U.S., INC.: PRODUCTS OFFERED    217
TABLE 176    CP KELCO U.S., INC.: PRODUCT LAUNCHES    217
TABLE 177    CP KELCO U.S., INC.: DEALS    218
13.1.6    INTERNATIONAL FLAVORS & FRAGRANCES INC.    219
TABLE 178    INTERNATIONAL FLAVORS & FRAGRANCES INC.: BUSINESS OVERVIEW    219
FIGURE 56    INTERNATIONAL FLAVORS & FRAGRANCES INC.: COMPANY SNAPSHOT (2022)    220
TABLE 179    INTERNATIONAL FLAVORS & FRAGRANCES INC.: PRODUCTS OFFERED    221
13.1.7    CORBION    222
TABLE 180    CORBION: BUSINESS OVERVIEW    222
FIGURE 57    CORBION: COMPANY SNAPSHOT (2022)    223
TABLE 181    CORBION: PRODUCTS OFFERED    223
TABLE 182    CORBION: DEALS    224
13.1.8    EARTHRISE NUTRITIONALS LLC    225
TABLE 183    EARTHRISE NUTRITIONALS LLC: BUSINESS OVERVIEW    225
TABLE 184    EARTHRISE NUTRITIONALS LLC: PRODUCTS OFFERED    225
13.1.9    E.I.D. PARRY    226
TABLE 185    E.I.D. PARRY: BUSINESS OVERVIEW    226
FIGURE 58    E.I.D. PARRY: COMPANY SNAPSHOT (2022)    227
TABLE 186    E.I.D. PARRY: PRODUCTS OFFERED    227
13.1.10    ALGEA    229
TABLE 187    ALGEA: BUSINESS OVERVIEW    229
TABLE 188    ALGEA: PRODUCTS OFFERED    229
13.2    OTHER PLAYERS    230
13.2.1    ALGATECH LTD.    230
TABLE 189    ALGATECH LTD.: BUSINESS OVERVIEW    230
TABLE 190    ALGATECH LTD.: PRODUCTS OFFERED    230
TABLE 191    ALGATECH LTD.: DEALS    231
13.2.2    SPIRA INC.    232
TABLE 192    SPIRA INC.: BUSINESS OVERVIEW    232
TABLE 193    SPIRA INC: PRODUCTS OFFERED    232
13.2.3    ALGENOL    233
TABLE 194    ALGENOL: BUSINESS OVERVIEW    233
TABLE 195    ALGENOL: PRODUCTS OFFERED    233
13.2.4    CELLANA INC.    234
TABLE 196    CELLANA INC.: BUSINESS OVERVIEW    234
TABLE 197    CELLANA INC.: PRODUCTS OFFERED    234
13.2.5    FENCHEM    236
TABLE 198    FENCHEM: BUSINESS OVERVIEW    236
TABLE 199    FENCHEM: PRODUCTS OFFERED    237
13.2.6    TBK MANUFACTURING CORPORATION    238
13.2.7    KARAGEN INDONESIA, CV    239
13.2.8    ASTAREAL AB    240
13.2.9    AMJ HYDROCOLLOIDS    240
13.2.10    TRITON ALGAE INNOVATIONS    241
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
14    ADJACENT & RELATED MARKETS    242
14.1    INTRODUCTION    242
14.2    LIMITATIONS    242
14.3    SEAWEED PROTEINS MARKET    242
14.3.1    MARKET DEFINITION    242
14.3.2    MARKET OVERVIEW    243
14.3.3    SEAWEED PROTEINS MARKET, BY APPLICATION    244
14.3.3.1    Introduction    244
TABLE 200    SEAWEED PROTEINS MARKET, BY APPLICATION, 2018–2021 (USD MILLION)    244
TABLE 201    SEAWEED PROTEINS MARKET, BY APPLICATION, 2022–2027 (USD MILLION)    244
TABLE 202    SEAWEED PROTEINS MARKET, BY APPLICATION, 2018–2021 (KT)    245
TABLE 203    SEAWEED PROTEINS MARKET, BY APPLICATION, 2022–2027 (KT)    245
14.3.4    SEAWEED PROTEINS MARKET, BY REGION    245
14.3.4.1    Introduction    245
TABLE 204    SEAWEED PROTEINS MARKET, BY REGION, 2018–2021 (USD MILLION)    246
TABLE 205    SEAWEED PROTEINS MARKET, BY REGION, 2022–2027 (USD MILLION)    246
TABLE 206    SEAWEED PROTEINS MARKET, BY REGION, 2018–2021 (KT)    247
TABLE 207    SEAWEED PROTEINS MARKET, BY REGION, 2022–2027 (KT)    247
14.4    CAROTENOIDS MARKET    247
14.4.1    MARKET DEFINITION    247
14.4.2    MARKET OVERVIEW    247
14.4.3    CAROTENOIDS MARKET, BY TYPE    248
14.4.3.1    Introduction    248
TABLE 208    CAROTENOIDS MARKET, BY TYPE, 2017–2026 (USD MILLION)    248
TABLE 209    CAROTENOIDS MARKET, BY TYPE, 2017–2026 (TON)    249
14.4.4    CAROTENOIDS MARKET, BY REGION    249
14.4.4.1    Introduction    249
TABLE 210    CAROTENOIDS MARKET, BY REGION, 2017–2026 (USD MILLION)    249
TABLE 211    CAROTENOIDS MARKET, BY REGION, 2017–2026 (TON)    250
15    APPENDIX    251
15.1    DISCUSSION GUIDE    251
15.2    KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL    256
15.3    CUSTOMIZATION OPTIONS    258
15.4    RELATED REPORTS    258
15.5    AUTHOR DETAILS    259