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How has the algae products market grown in recent years?

The market size for algae products has seen significant expansion in the recent past. It is estimated to increase from $14.03 billion in 2024 to $15.12 billion in 2025, representing a compound annual growth rate (CAGR) of 7.8%. This surge in the past can be traced back to considerations around sustainability, nutritional advantages, alternate sources of protein, applications in cosmetics and personal care, as well as environmental regulations.

How is the algae products market size expected to evolve during the forecast period?

The market size of algae products is anticipated to experience robust expansion in the coming years. It is predicted to increase to $21.91 billion by 2029, with a compound annual growth rate (CAGR) of 9.7%. This projected growth over the forecast period can be associated with factors such as climate change mitigation efforts, use in aquaculture and animal feed, incorporation in plant-based foods, utilization in biofuels and renewable energy, and initiatives towards a circular economy. During the forecast period, several trends are also predicted to become more prevalent such as the revolution of plant-based food, the use of sustainable protein sources, the inclusion of marine ingredients in cosmetics, applications in carbon sequestration, and advancements in biotechnology.

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Which key drivers are propelling the algae products market’s growth?

The burgeoning interest in nutritious food products is set to boost the expansion of the algae products market. Nutritious foods comprise of nutrients necessary for ensuring health and maintaining energy levels. Algae products are rich in beneficial components such as carbohydrates, polyunsaturated fatty acids, vital minerals, and vitamins that are typically incorporated into healthy foods. For example, as reported by the Good Food Institute (GFI), a non-profit organization in the US, and Plant Based Foods Association (PBFA), another US-based food association, in March 2022, the rising trend towards healthier substitutions resulted in 27% of individuals opting for lesser meat intake and favoring plant-based foods. Consequently, the escalating demand for nutritious food products fuels the advancement of the algae products market.

What are the market segments in the algae products industry?

The algae products market covered in this report is segmented – _x000D_

_x000D_

1) By Type: Lipids, Carrageenan, Carotenoids, Alginate, Algal Protein_x000D_

2) By Form: Liquid, Solid_x000D_

3) By Source: Blue-Green Algae, Brown Algae, Green Algae, Red Algae_x000D_

4) By Distribution Channel: Online, Offline_x000D_

5) By Application: Food and Beverage, Nutraceutical and Diet Supplement, Animal Feed, Personal Care, Pharmaceutical, Other Applications_x000D_

_x000D_

Subsegments:_x000D_

1) By Lipids: Omega-3 Fatty Acids (EPA, DHA), Phospholipids, Triglycerides _x000D_

2) By Carrageenan: Kappa Carrageenan, Iota Carrageenan, Lambda Carrageenan _x000D_

3) By Carotenoids: Beta-Carotene, Astaxanthin, Lutein _x000D_

4) By Alginate: Sodium Alginate, Calcium Alginate, Potassium Alginate _x000D_

5) By Algal Protein: Spirulina Protein, Chlorella Protein, Other Microalgae Proteins

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Which leading companies are shaping the growth of the algae products market?

Major companies operating in the algae products market include BASF SE, Cargill Inc., E. I. du Pont de Nemours and Company, DSM Nutritional Products AG, East India Distilleries & Parry Limited, Cellana Inc., BlueBioTech International GmbH, Corbion NV, Earthrise Nutritionals LLC, Cyanotech Corporation, AlgaeCan Biotech Ltd., Bioprocess Algae LLC, Algenol Biofuels Inc., Euglena Co. Ltd., Kerry Group plc, DIC Corporation, CP Kelco ApS, Algae Systems LLC, Acadian Seaplants Limited, Wild Irish Seaweeds Ltd., Beijing Leili Marine Bioindustry Inc., Archer Daniels Midland Company, ACCEL Carrageenan Corporation, Koninklijke DSM N.V., International Flavors & Fragrances Inc., Algae Bio-Tech India (P) Ltd., Algaen Corp, Algaeventure Systems (AVS), Algaetech International, Algarithm Ingredients Inc., Algix LLC

What key trends are currently impacting the algae products market’s development?

The exploration of alternative protein sources like microalgae is an emerging trend in the algae products market that’s gathering significant traction. The creation of such alternative protein sources is imperative for the transformation towards a just and robust food system. Take for example the collaboration between Unilever, a consumer goods corporation based in the UK, and Algenuity, a fellow UK company specializing in algae products. The partnership’s goal is to conceive innovative microalgae-based products for Unilever’s vegetarian line. Algenuity will be joining forces with the R&D department within Unilever’s Foods and Refreshment (F&R) division to investigate varying food items using microalgae.

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Which geographic areas are influencing the growth of the algae products market?

North America was the largest region in the algae products market in 2024. The regions covered in the algae products market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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