Microalgae Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Microalgae are microscopic algae that are invisible to the naked eye. They are typically found in freshwater and marine systems, living in both the water column and sediment. They are unicellular species that exist individually or in chains or groups. Microalgae are considered as a rich source of carbohydrates, protein, enzymes, and others and are used across several nutritional supplements and food items. In addition, microalgae conduct photosynthesis and form a large quantity of atmospheric oxygen and utilize carbon dioxide to grow photoautotapically.

MARKET SCOPE

The "Global Microalgae Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the microalgae market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading microalgae market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global microalgae market is segmented into spirulina, chlorella, and others.
  
•   Based on application, the market is bifurcated into food & beverages, pharmaceuticals & nutraceuticals, personal care, and others.
  

MARKET DYNAMICS

Drivers

•   Rising consciousness towards health along with the growing demand of nutritional supplements.
  
•   Continuous research and development activities.
  
•   Technological advancements is the key factor which is expected to fuel the growth of the market.
  

Restraints

•   High cost associated in the harvesting, climatic conditions and complex food regulations
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The microalgae market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the microalgae market in these regions.

IMPACT OF COVID-19 ON MICROALGAE MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the microalgae market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from microalgae market are anticipated to lucrative growth opportunities in the future with the rising demand for microalgae in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the microalgae market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Algae.Tec Limited
  
•   Algenol
  
•   Cellana, LLC
  
•   Cyanotech Corporation
  
•   DIC Corporation
  
•   E.I.D.
•  Parry (India) Limited
  
•   Fuqing King Dnarmsa Spirulina Co. Ltd
  
•   Kent Bioenergy Corporation
  
•   Taau Australia Pty Ltd
  
•   TerraVia Holdings, Inc.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Microalgae Report Scope