Microalgae Market
Microalgae Market Forecasts to 2030 - Global Analysis By Type (Spirulina, Chlorella, Haematococcus Pluvialis, Dunaliella Salina and Other Types), Category (Organic and Inorganic), Form, Grade, Application, Distribution Channel and By Geography
According to Stratistics MRC, the Global Microalgae Market is accounted for $12.7 billion in 2024 and is expected to reach $20.7 billion by 2030 growing at a CAGR of 8.4% during the forecast period. Microalgae are considered the smallest, photosynthetic animals in freshwater and marine habitats. These organisms are basics to ecological systems, capable of producing oxygen and holding a basic position in the aquatic food webs. They are highly nutrient-rich and they can easily be replenished as a raw material for renewable biofuels, dietary supplements, cosmetics, and pharmaceuticals. Capable of carbon dioxide fixation, microalgae contribute to climate change mitigation, making them vital for environmental and industrial applications.
According to the U.S. Department of Energy (DOE), the total microalgae biomass production potential in the United States is estimated at 152 million tons per year (ash-free dry weight).
Market Dynamics:
Driver:
Increasing health consciousness
The rising health consciousness among consumers has significantly driven the microalgae market. Microalgae are rich in essential nutrients, including proteins, vitamins, and omega-3 fatty acids, making them a popular choice for health supplements and functional foods. This trend is further supported by the growing preference for plant-based diets and natural food ingredients. As awareness of the health benefits of microalgae continues to grow, demand for these products is expected to rise across various industries.
Restraint:
High production costs
High production costs remain a significant restraint for the microalgae market. Cultivating and processing microalgae require advanced technologies, controlled environments, and substantial energy inputs, leading to increased operational expenses. These costs are often passed on to consumers, limiting market penetration, particularly in price-sensitive regions. Reducing production costs through technological advancements and economies of scale is essential to overcoming this challenge and expanding the market.
Opportunity:
Expansion in pharmaceuticals and cosmetics
The growing application of microalgae in pharmaceuticals and cosmetics presents a lucrative opportunity for market growth. Microalgae-derived compounds, such as antioxidants and bioactive peptides, are increasingly used in skincare products and therapeutic formulations due to their anti-aging and healing properties. The rising demand for natural and sustainable ingredients in these sectors further drives innovation and investment in microalgae-based solutions, creating new avenues for market expansion.
Threat:
Lack of standardization
The lack of standardization in microalgae cultivation, processing, and quality assessment poses a significant threat to the market. Variability in product quality can undermine consumer trust and hinder regulatory approvals, especially in food and pharmaceutical applications. Establishing standardized practices and certifications is critical to ensuring consistency, enhancing product credibility, and fostering wider adoption of microalgae-derived products across industries.
Covid-19 Impact:
The COVID-19 pandemic positively impacted the microalgae market as consumers increasingly prioritized health and immunity-boosting products. The demand for dietary supplements containing microalgae surged during this period. Additionally, disruptions in traditional food supply chains highlighted the potential of alternative protein sources like microalgae. These factors collectively accelerated the adoption of microalgae-based products across various sectors.
The food & beverages segment is expected to be the largest during the forecast period
The food & beverages segment is expected to dominate the market due to the increasing use of microalgae as a functional ingredient in health foods, beverages, and dietary supplements. Its high nutritional value makes it an ideal choice for addressing consumer demand for natural and plant-based products. The segment's growth is further driven by innovations in incorporating microalgae into mainstream food applications.
The chlorella segment is expected to have the highest CAGR during the forecast period
The chlorella segment is expected to witness the highest CAGR due to its extensive health benefits, including detoxification, immune support, and improved digestion. Its high protein content also makes it a preferred choice for vegan diets. The increasing use of chlorella in dietary supplements, cosmetics, and animal feed highlights its versatility and potential for rapid growth across multiple applications.
Region with largest share:
Over the forecast period, the Asia Pacific region is anticipated to account for the largest market share due to its well-established aquaculture industry and high consumption of algae-based products. Countries like China, Japan, and India drive regional growth through their strong demand for functional foods, dietary supplements, and cosmetics. Additionally, government initiatives promoting sustainable agriculture further support market expansion in this region.
Region with highest CAGR:
The North America region is anticipated to register the highest growth rate over the forecast period owing to increasing consumer awareness about health benefits associated with microalgae. The region's robust demand for plant-based proteins and natural ingredients drives innovation in food & beverages as well as nutraceuticals. Moreover, advancements in cultivation technologies contribute to the rapid growth of this market in North America.
Key players in the market
Some of the key players in Microalgae Market include DIC Corporation, Cyanotech Corporation, Corbion N.V., AlgaEnergy S.A., Cellana Inc., Euglena Co., Ltd., Algaecytes, Parry Nutraceuticals, Allmicroalgae, Kuehnle AgroSystems, Algatech, Algarithm, Sunrise Nutrachem Group Co., Ltd., BASF SE, Koninklijke DSM N.V., Solabia Group, TerraVia Holdings, Inc. and Roquette Frères.
Key Developments:
In August 2024, Euglena Co., Ltd. signs with Petronas Research Sdn. Bhd. a subsidiary of Petroliam Nasional Berhad (hereafter ""Petronas Research"") that have entered into a Joint Development Agreement on August 21st , 2024 to implement a joint research with a mission to materialize the future large-scale commercial production of microalgae oil for SAF and other biofuels.
In July 2024, Parry Nutraceuticals, a division of EID Parry (I) Ltd, based in Chennai, has become a world leader and expert in micro-algal technology. Parry is the only micro-algal innovator in the world producing all three microalgae—spirulina, haematococcus (astaxanthin), and chlorella. The company works with ecologically sustainable cultivation practices that help preserve nutrients for optimum absorption.
In March 2024, Kuehnle AgroSystems (""KAS""), a leading microalgal innovation and production company, today announced that it has raised a $3 million Series A2 funding round led by S2G Ventures. The funding will accelerate the commercialization of KAS's pioneering method for producing natural astaxanthin from microalgae, a key component in sustainable aquaculture systems as well as a clinically proven human nutraceutical.
Types Covered:
• Spirulina
• Chlorella
• Haematococcus Pluvialis
• Dunaliella Salina
• Isochrysis
• Phaeodactylum Tricornutum
• Chlamydomonas Cruentum
• Nannochloropsis
• Other Types
Categories Covered:
• Organic
• Inorganic
Forms Covered:
• Powder/Dry
• Liquid
Grades Covered:
• Food Grade
• Cosmetic Grade
• Feed Grade
• Fuel Grade
• Other Grades
Applications Covered:
• Dietary Supplements
• Cosmetics & Personal Care
• Food & Beverages
• Pharmaceuticals
• Animal Feed
• Bio-Fuel
• Inks
• Other Applications
Distribution Channels Covered:
• Direct
• Indirect
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Microalgae Market, By Type
5.1 Introduction
5.2 Spirulina
5.3 Chlorella
5.4 Haematococcus Pluvialis
5.5 Dunaliella Salina
5.6 Isochrysis
5.7 Phaeodactylum Tricornutum
5.8 Chlamydomonas Cruentum
5.9 Nannochloropsis
5.10 Other Types
6 Global Microalgae Market, By Category
6.1 Introduction
6.2 Organic
6.3 Inorganic
7 Global Microalgae Market, By Form
7.1 Introduction
7.2 Powder/Dry
7.3 Liquid
8 Global Microalgae Market, By Grade
8.1 Introduction
8.2 Food Grade
8.3 Cosmetic Grade
8.4 Feed Grade
8.5 Fuel Grade
8.6 Other Grades
9 Global Microalgae Market, By Application
9.1 Introduction
9.2 Dietary Supplements
9.3 Cosmetics & Personal Care
9.4 Food & Beverages
9.5 Pharmaceuticals
9.6 Animal Feed
9.7 Bio-Fuel
9.8 Inks
9.9 Other Applications
10 Global Microalgae Market, By Distribution Channel
10.1 Introduction
10.2 Direct
10.3 Indirect
11 Global Microalgae Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 DIC Corporation
13.2 Cyanotech Corporation
13.3 Corbion N.V.
13.4 AlgaEnergy S.A.
13.5 Cellana Inc.
13.6 Euglena Co., Ltd.
13.7 Algaecytes
13.8 Parry Nutraceuticals
13.9 Allmicroalgae
13.10 Kuehnle AgroSystems
13.11 Algatech
13.12 Algarithm
13.13 Sunrise Nutrachem Group Co., Ltd.
13.14 BASF SE
13.15 Koninklijke DSM N.V.
13.16 Solabia Group
13.17 TerraVia Holdings, Inc.
13.18 Roquette Frères
List of Tables
1 Global Microalgae Market Outlook, By Region (2022-2030) ($MN)
2 Global Microalgae Market Outlook, By Type (2022-2030) ($MN)
3 Global Microalgae Market Outlook, By Spirulina (2022-2030) ($MN)
4 Global Microalgae Market Outlook, By Chlorella (2022-2030) ($MN)
5 Global Microalgae Market Outlook, By Haematococcus Pluvialis (2022-2030) ($MN)
6 Global Microalgae Market Outlook, By Dunaliella Salina (2022-2030) ($MN)
7 Global Microalgae Market Outlook, By Isochrysis (2022-2030) ($MN)
8 Global Microalgae Market Outlook, By Phaeodactylum Tricornutum (2022-2030) ($MN)
9 Global Microalgae Market Outlook, By Chlamydomonas Cruentum (2022-2030) ($MN)
10 Global Microalgae Market Outlook, By Nannochloropsis (2022-2030) ($MN)
11 Global Microalgae Market Outlook, By Other Types (2022-2030) ($MN)
12 Global Microalgae Market Outlook, By Category (2022-2030) ($MN)
13 Global Microalgae Market Outlook, By Organic (2022-2030) ($MN)
14 Global Microalgae Market Outlook, By Inorganic (2022-2030) ($MN)
15 Global Microalgae Market Outlook, By Form (2022-2030) ($MN)
16 Global Microalgae Market Outlook, By Powder/Dry (2022-2030) ($MN)
17 Global Microalgae Market Outlook, By Liquid (2022-2030) ($MN)
18 Global Microalgae Market Outlook, By Grade (2022-2030) ($MN)
19 Global Microalgae Market Outlook, By Food Grade (2022-2030) ($MN)
20 Global Microalgae Market Outlook, By Cosmetic Grade (2022-2030) ($MN)
21 Global Microalgae Market Outlook, By Feed Grade (2022-2030) ($MN)
22 Global Microalgae Market Outlook, By Fuel Grade (2022-2030) ($MN)
23 Global Microalgae Market Outlook, By Other Grades (2022-2030) ($MN)
24 Global Microalgae Market Outlook, By Application (2022-2030) ($MN)
25 Global Microalgae Market Outlook, By Dietary Supplements (2022-2030) ($MN)
26 Global Microalgae Market Outlook, By Cosmetics & Personal Care (2022-2030) ($MN)
27 Global Microalgae Market Outlook, By Food & Beverages (2022-2030) ($MN)
28 Global Microalgae Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
29 Global Microalgae Market Outlook, By Animal Feed (2022-2030) ($MN)
30 Global Microalgae Market Outlook, By Bio-Fuel (2022-2030) ($MN)
31 Global Microalgae Market Outlook, By Inks (2022-2030) ($MN)
32 Global Microalgae Market Outlook, By Other Applications (2022-2030) ($MN)
33 Global Microalgae Market Outlook, By Distribution Channel (2022-2030) ($MN)
34 Global Microalgae Market Outlook, By Direct (2022-2030) ($MN)
35 Global Microalgae Market Outlook, By Indirect (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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