Algae Products Market Size, Share, Trends and Forecast to 2026

The global algae
products market size is estimated to be valued at USD 4.7 billion in
2021 and projected to reach USD 6.4 billion by 2026, recording a CAGR of 6.3%
during the forecast period. Various factors have played a major role in driving
the algae products market growth across the globe. Algae possess properties
that make them useful to be incorporated in diversified end products such as
ice-creams, cakes, anti-obesity & anti-diabetic agents, aquatic feed
ingredients, toothpaste, and moisturizers; their cultivation using both
agriculture and aquaculture practices make algae unique among other
agricultural products. Algae are uniquely versatile as algae-derived products
find application in multiple industries such as food & beverage, feed,
nutraceuticals & dietary supplements, personal care, and pharmaceutical.
This is expected to be a major driver for the growth of the algae products
market.

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Growing industries, such as food & beverage,
nutraceutical, pharmaceutical, and dietary supplement, have significantly
contributed to the growth of the algae products market in North America. The
rising population in the country is another factor that is expected to boost
the demand for algae products. An increase in health-conscious consumers has
led to the increased use of lipids, such as omega-3 in nutraceutical and
dietary supplement products, which has offered a market opportunity for
algae-based omega-3 products.

This report includes a study on the marketing and
development strategies, along with the product portfolios of leading companies.
It consists of profiles of leading companies, DSM (Netherlands), BASF
(Germany), DuPont (US), Cargill (US), E.I.D Parry (India), Corbion
(Netherlands), and Cyanotech Corporation (US).

Algae-based ingredients have wide application in the food
industry as texturizing & stabilizing agents, thickeners & gelling
agents, and as supplements for health. For instance, the thickening property of
alginate is useful in sauces, syrups, and toppings for ice cream. Other
products that can be fortified with algae include dairy products (such as sour
cream, chocolate milk, cheese) sushi, and gelatin. Pigments such as
chlorophylls, carotenoids, and phycobiliproteins also have application as
natural food colorants.

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