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Algae Products Market by Type, Application, Source, Form And Region - Global Forecast to 2023

Algae Products Market: Global Forecast until 2023

  • April 2018
  • 139 pages
  • ID: 5385681
In this report:
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According to the National Oceanic and Atmospheric Administration (NOAA) in 2014, the global aquaculture production was dominated by Asia Pacific (##%), while China alone accounted for ##%.

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The algae products market is estimated to rise at a compound annual growth rate of 5.40 percent.

The algae products market is projected at ~$4.0B in 2018 and is projected to extend ~$5.2B by 2023. It is expected to increase at a Compound annual growth rate of 5.40 percent during the study period. The sector is primarily influenced by trends including rise in consumer awareness concerning the health benefits of algae-based products and its application multiple industries including food & beverage, pharmaceutical, and personal care. Another increase factor can be the increased preference for vegetarian and vegan foods. This will lead to the raised demand for plant-based protein and other nutrient-rich food products; this scenario has led to the demand for algae products.

Elements such as weather conditions that affect the production of algae act as main restraints of the algae products market. The high prices of end products are also an important concern for the algae product manufacturers, and this consequently acts as a restraint to the algae products market.

The nutraceutical & dietary supplement segment is expected to rise at the maximal rate during the estimate period.

On the basis of application type of algae products, the nutraceuticals & dietary supplements segment is expected to grow at the highest compound annual growth rate (CAGR). The industry demand for algae-based food & beverage products is growing gradually; for example, ice cream manufacturers are adding algae to their products for adding nutritive value to their products.

Algae protein is planned to be the quickest-growing segment during the outlook period.

Established on type of products, the algae protein segment is intended to be the quickest-increasing during the forecast period.In the recent years, due to Elements such as fitness needs, animal health concerns, concerns about GMO products , clean labels, and organic labels, the interest and particular focus on plant proteins or alternative proteins has significantly emerged in both developed and developing countries.

This forecast will lead to the high rise rate of proteins derived from algae.

On the basis of source, blue-green algae products are expected to form the quickest increasing market during the estimate period.

Established on the source of the algae products, blue-green algae products are estimated to form the quickest-growing segment.Blue-green algae primarily find applications in the nutraceutical and pharmaceutical markets.

The increase of these sectors will lead to the high rise of the algae sector.

APAC is expected to register the maximum growth rate during the outlook period.

Asia-Pac is forecasted to be the quickest developing market between 2018 and 2023.Industrial increase and improvements in the food market have opened new opportunities for the algae products market in this area.

Also, conventional algae food items are already popular in Asia, with algae used extensively in Asian cuisine including sushi. This makes the Asia Pacific area, the quickest-increasing potential for algae products.

Break-up of Primaries:

• By Company category: Tier 1 - 33.0 percent, Tier 2 - 46.0 percent, and Tier 3 - 21.0 percent

• By Description: C-suite executives - 35.0 percent, Director-level - 25.0 percent, and Others - 40.0 percent

• By Area: North America continent - 45.0 percent, Europe (EU) - 30.0 percent, Asia Pacific (APAC) - 20.0 percent, and rest of the world - 5.0 percent

Segment Research

The document breaks down the algae products market based on source, category, application, form, and area. In terms of insights, this market research has emphasized different levels of analyses-competitive landscape, end-use review, and company descriptions, which together comprise and examine the basic overviews on the emerging & high-growth segments of the algae products market, high-growth areas, territories, government actions, drivers, market restraints, alternatives, and opportunities.

Why acquiring this study can help you:

• To get a comprehensive overview of the algae products market

• To benefit wide-ranging information about the top actors in this market, their products review, and top strategies approved by them

• To benefit business insights about the main countries/localities in which the algae products market is prospering

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