Algae Derived Products Market Outlook

Algae are plant like microorganisms that convert carbon dioxide, sunlight, and essential nutrients into organic matter thus, replacing many commonly used oils such as fossil, fish and palm and proteins such as animal and plant protein. Algae derived products are derived from two large broad categories of algae including, macro-algae and micro-algae. An estimated 200 species of algae are currently being used across various application areas including food, feed and fertilizer applications. Microalgae are small single cell microorganism while the microalgae are large aquatic plants. Algae derived products derived from microalgae are primarily used in bio plastics, biofuels, and fertilizers, pharmaceutical applications while algae products derived from the microalgae are used in cosmetics, pharmaceuticals and food additives. Some of the commercially available algae derived products are manufactured from algae species such as, Spirulina and Chlorella. The global algae derived products market is expected to witness remarkable growth attributable to growing consumers demand for products with natural origin. 

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Growing consumer preference for Organic and Natural Products is Driving the Market Demand for Algae Derived Products:-

Demand for algae derived product is inevitable as they are widely used as an ingredient in functional food which consists of the highest amount of protein found in any naturally grown food. For every 100 grams of Spirulina in raw form, around 60 grams is protein i.e. 60% of the whole food, which makes it the highest protein rich food in the world. Also, alage derived products contain high quantities of vitamins, minerals, and other nutrients which make it an ideal food. Alage derived products consists of Vitamin A, B, C, E and K and also contain calcium, iron, magnesium, manganese, phosphorus, potassium, sodium and zinc

 Growing occurrence of life threatening diseases is one of the main reasons for changing consumer’s preference for algae derived products. After approval of various ingredients and other algae for its application in various feed, nutraceutical, food, and cosmetic applications, the market for these algae derived products started increasing. 

Algae derived products play an important role in agriculture where they are used as biofertilizer and soil stabilizers. Algae derived products, particularly the seaweeds, are used as fertilizers, resulting in less nitrogen and phosphorous runoff than the one from the use of livestock manure. This in turn, increases the quality of water flowing into rivers and oceans.

Global Algae Derived Products: Market Segmentation

The global algae derived products market has been segmented on the basis of type into –

• Carotenoids and Pigments 
  • Lycopene
  • Astaxanthin
  • Lutein
  • Beta Carotene
  • Fucoxanthin
  • Others
• Hydrocolloids
• Antioxidants
• Lipids
• Proteins
• Others

The global algae derived products market has been segmented on the basis of form into –

• Powder
• Liquid

The global algae derived products market has been segmented on the basis of application into –

• Food and Beverages
• Nutraceutical & Pharmaceuticals
• Animal Feed
• Personal Care & Cosmetics
• Others

The global algae derived products market has been segmented on the basis of sales channel into–

• Business to Business
• Business to Consumer 
  • Hypermarket/Supermarket
  • Pharmaceutical/Drug Stores
  • Specialty Stores
  • Online Sales Channel 

Global Algae Derived Products Market: Key Industry Players

The key market players in algae derived products business are, Ingredion Incorporated, Corbion N.V., BASF SE, Cyanotech Corporation, Cargill Inc., Koninklijke DSM N.V., The Dow Chemical Company, Kerry Group,    Roquette Frères, CP Kelco, Fenchem Biotek, Algatechnologies, among others. The market players are focusing on tapping the business opportunities through expansions and investments by developing new plants for enhancing the production capacity. Some of the key developments in Algae derived products marker are:-

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• In 2016, DDW Inc. has launched an innovative blue color made from Spirulina with light stability improved by up to 40%, the new product launch will help company in catering the upcoming market opportunities in algae derived products business.
• In May 2016, Now Health Group Inc. announces the launch of a new natural pet supplements product under its brand “NOW Pets” focusing dogs and cats which help in catering the market for algae derived products.
• In 2015, The Cyanotech Corporation is focusing on business expansion through developing new plant facility for manufacturing Astaxanthin. These business facility will help in reducing overall turnaround time of final product.
• In 2015, Sensient Colors LLC, developed a proprietary technology for Spirulina extraction.