How big is the Algae Products Market?

The Algae Products Market size is expected to reach USD 1.92 billion in 2024 and grow at a CAGR of 4.99% to reach USD 2.45 billion by 2029. Read More

What is the current Algae Products Market size?

In 2024, the Algae Products Market size is expected to reach USD 1.92 billion. Read More

Who are the key players in Algae Products Market?

Archer Daniels Midland Company, ACCEL Carrageenan Corporation, Cargill, Incorporated, BASF SE and Koninklijke DSM N.V. are the major companies operating in the Algae Products Market. Read More

Which is the fastest growing region in Algae Products Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Algae Products Market?

In 2024, the North America accounts for the largest market share in Algae Products Market. Read More

What years does this Algae Products Market cover, and what was the market size in 2023?

In 2023, the Algae Products Market size was estimated at USD 1.83 billion. The report covers the Algae Products Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Algae Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Algae Products Market Analysis | Industry Report, Size & Growth Trends

Algae Products Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Microalgae-Based Products Market is segmented by Source (Brown Algae, Red Algae, Green Algae, and Blue-green Algae); by Product Type (Algal Protein, Alginate, Carrageenan, Carotenoids, Lipids, and Other Product Types); by Application (Personal Care, Food and Beverage, Dietary Supplements, Pharmaceuticals, Animal Feed, and Other Applications); and by Geography (North America, Europe, South America, Asia Pacific, and Middle-East and Africa). The market size and values in (USD Million) during the forecasted years for the above segments.

Algae Products Industry Overview

Major global players account for a significant market share, such as Kerry, Cargill, ADM, and ACCEL Carrageenan. Most manufacturers are focusing on expanding their current production capacities by increasing sales in various developing regions as the market in these regions is not consolidated by major players. The companies are also focusing on developing new techniques of storage and production in the market's dietary supplement segment. The key players are also planning to strengthen their distribution relationships with firms across various regions to leverage the customer base for future product launches. For instance, in October 2021, CP Kelco announced the expansion of its distribution relationship with Azelis in Europe and Middle East & Africa. The new distribution scope extension names Azelis as the exclusive distribution partner of CP Kelco across numerous countries and market segments.