Algaculture Market Size 2027 - Share, Growth, Global Trend & Industry Analysis

Increasing demands from end use industries for algae are driving the growth of Global Algaculture Market in the forecast period, 2023-2027.

Global algaculture market is anticipated to grow at a significant rate during the forecast period. The growth can be attributed to the rising demands for high yielding crops and growing utilization of various organic methods to enhance the crop productivity. Algae can be used to fulfill various necessities such as food, nutrition, fertilizer, bioplastics, pigment, chemical feedstock, pharmaceuticals, pollution control, natural food colors & dyes, etc. Algae can grow ten times more rapidly than terrestrial plants and require one-tenth of the land, which makes algaculture sustainable and environment-friendly. Cultivation of algae like phytoplankton, microphytes, seaweed, etc. for commercial and industrial purpose due to hygienic concerns and growing requirement of inoculant ingredients are propelling the growth of the global algaculture market. Many high-value and niche-market products are being produced due to anticarcinogenic, anti-inflammatory properties, and unusual nutritional properties of algae, which is expected to drive the growth of the global algaculture market in the coming years. Growing demand for algae from various end user industries such as pharmaceutical, packaging, power generation, chemical, and other industries are further contributing to the growth of the global algaculture market. Technological advancements in the aquaculture practices and rising demand to grow microalgae rapidly for its derived products or services are supporting the global aquaculture market growth. Companies involved in algaculture are investing in R&D activities to further improve the yield and create algae monocultures, which is propelling the growth of Global algaculture market.

The global algaculture market segmentation is based on type of algae, technique, application, regional distribution, and competitive landscape. Based on type of algae, the market is divided between microalgae and macroalgae. Microalgae is expected to dominate the global algaculture market in the coming years owing to its increased use in pet food, cosmetics, and other end-user industries. Based on region, the Asia-Pacific market is anticipated to hold the largest share in the global algaculture market owing to ease of availability of raw materials, favorable climatic conditions, low labor costs, etc.

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Companies dominating the global algaculture market include Marigan Holding B.V., Prolgae Spirulina Supplies Pvt. Ltd., Swedish Algae Factory Ab, Monzon Biotech S.L., Algatech Ltd., etc. Companies involved in the global algaculture industry are increasingly investing in developing new technologies to further improve the yield of algaculture to sustain growth.

Years considered for this report:

Historical Years: 2017-2020

Base Year: 2021

Estimated Year: 2022

Forecast Period: 2023–2027

Objective of the Study:

  • To analyze the historical growth in the market size of global algaculture market from 2017 to 2021.
  • To estimate and forecast the market size of global algaculture market from 2022 to 2027 and growth rate until 2027.
  • To classify and forecast global algaculture market based on product type, application, fuel type, region, and competitive landscape.
  • To identify dominant region or segment in the global algaculture market.
  • To identify drivers and challenges for global algaculture market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global algaculture market.
  • To identify and analyze the profile of leading players operating in global algaculture market.
  • To identify key sustainable strategies adopted by market players in global algaculture market.

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Report Scope:

In this report, global algaculture market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Algaculture Market, By Type of Algae:
    • Microalgae
    • Macroalgae
  • Algaculture Market, By Technique:
    • Monoculture
    • Mixed Culture
    • Serial Dilution
    • Others
  • Algaculture Market, By Application:
    • Fertilizers
    • Feed
    • Food Coloring
    • Pharmaceuticals
    • Others
  • Algaculture Market, By Region:
    • North America
      • United States
      • Mexico
      • Canada
    • Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Israel
    • South America
      • Brazil
      • Argentina
      • Colombia

 

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was not able to include the service providers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of global algaculture market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Global algaculture service providers
  • Raw material suppliers
  • Research organizations and consulting companies
  • Research Institutes
  • Industry associations
  • Market research and consulting firm

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, partners, end users, etc. besides allowing them in strategizing investments and capitalizing on market opportunities.

FAQ -

Q - What Major Factors Drive Global Algaculture Market Growth ?

Ans - Wide spread applications of algaculture are actively driving the growth of the global algaculture market in the upcoming five years.

Q - Which region Dominates the Global Algaculture Market Analysis ?

Ans - The global algaculture market is segmented into North America region, South America region, Asia Pacific region, European region, and Middle East & Africa region for the regional analysis of the market. Asia Pacific region is anticipated to dominate the market analysis in the upcoming five years on the account of increasing advancement in the agricultural industry in the major economies of the region like India, China, etc.

Q - Which Comapnies Dominates the Global Algaculture Market ?

Ans - Marigan Holding B.V., Prolgae Spirulina Supplies Pvt. Ltd., Swedish Algae Factory Ab, Monzon Biotech S.L., Algatech Ltd., among others are some of the leading companies dedicated toward providing related products and services of algaculture and support the future growth of the global algaculture market in the upcoming five years.

Q - What is the Study Period for Global Algaculture Market Analysis ?

Ans - The global algaculture market analysis was analyzed for the five historical years from 2017 to 2020. Keeping the base year 2020 as the margin, the estimation for the year 2022 was made and further market growth is predicted for the forecast years, 2023 to 2027.

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