Algae Products Market is anticipated to accumulate a sum of $3.4 billion by 2025, growing at a CAGR of 4.2% from during the forecast period. The report offers a detailed analysis of drivers & opportunities, changing market trends, competitive landscape, key segments, and market size & estimations.

Increase in global population and rise in demand for convenience food products such as pasta, drinks, cakes, bread, gravies, and pastry drive the growth of the market. Moreover, increased demand for nutritional food additives due to the growing requirement for healthy food products, aquaculture feed for fish breeding, and omega3 fatty acid supplement the market growth. However, changes in calcium level and fluctuation in blood pressure due to the consumption of algae-based pharmaceutical products is expected to hamper the market growth.

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Nevertheless, promotion of algae research and production by government organizations worldwide to reduce carbon footprint, technological advancements to bring down the cost of biofuels manufactured using algae as a raw material, and use of byproducts of the process as a stimulator or fertilizer for soil as well as feedstock for animals would offer lucrative prospects to the market.

By type, the market is classified into Spirulina, Chlorella, Astaxanthin, Beta Carotene, and Hydrocolloids. By source, the report fragments the market into Brown Algae, Blue-Green Algae, Red Algae, and Green Algae. By form, the market is bifurcated into solid and liquid. By application, the market is divided into Food & Beverages, Nutraceuticals & Dietary Supplements, Personal Care, Feed, Pharmaceuticals, Chemicals, and Fuel.

Based on application, the food & beverages segment accounted for the major market share in 2017 and is anticipated to grow at a CAGR of 4.1%. Based on type, the hydrocolloids segment contributed to nearly half of the total market in 2017 and would remain dominant during the study period.

North America contributed around more than one-third of the global market revenue and would maintain its lion’s share through the forecast period. However, Asia-Pacific would exhibit the fastest CAGR of 6.2% through 2025, due to increasing population and growing health awareness of naturally extracted products. The other regions analyzed in the report are Europe and Latin America, Middle East and Africa (LAMEA).

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Leading market players analyzed in the market report include Algae Systems LLC., euglena Co., Ltd., Cellana Inc., Incorporated, Earthrise Nutritional Cargill, Algenol Biofuels Inc., BIOPROCESS ALGAE, LLC, Corbion, Algatechnologies, and Cyanotech Corporation. They have embraced a number of top stratagems to retain their top status in the industry.

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