According
to a recent Voice of Customer published by TechSci Research, Purity of the
algae product emerged to be the most important factor considered while
purchasing an algae product. Increasing demand from the health food sector,
particularly from the manufacturers of health foods and supplements, rising
demand from the pharmaceutical sector and the cosmetics sector for
manufacturing therapeutic drugs and natural cosmetic products and the
increasing application of algae products for generating biofuel is expected to
drive the demand for algae products.
According
to CIA factbook, globally, humans consume 11 billion tonnes of oil in fossil
fuels. Crude oil reserves are expected to vanish by 2060. Algae can also be
used to make several biofuels, including ethanol and biodiesel. As part of
the photosynthesis process algae produce oil
and can generate 15 times more oil per acre than other plants used for
biofuels, such as corn and switchgrass.
Browse XX market data Tables and XX Figures
spread through XXX Pages and an
in-depth TOC on" Global Algae Products Market "
According to a TechSci Research report, “Global Algae
Products Market Forecast and
Opportunities, 2024”, The Global algae products market is
projected to register a CAGR of over 7.20%, in value terms, during 2018-23. The
growth in the demand of algae products is compelled by factors such as rising
usage of algae products in the health food sector for producing natural
nutrient supplements, posing as a promising substitute for animal based
nutrition, rising application in the pharmaceutical sector for manufacturing antimicrobials,
antivirals and anti-bacterial medicines, neuroprotective products, human
therapeutic proteins, drugs for cancer treatment, pharmacology etc.
Corbion N.V., DSM N.V., E.I.D Parry India Limited, DIC Corporation,
Algatechnologies Ltd., Cyanotech Corporation, Algatech International Sdn Bhd,
Tianjin Norland Biotech Co., Ltd., BASF SE, Cellana Inc. etc are some of the leading players in the Global Algae
products market in 2017 which are expected to remain dominant by the end of
forecast period. In terms of region, North America has dominated the market
with a share of over 29%, in terms of value, in 2018. The demand from the
flourishing pharmaceutical sector and the energy sector is expected to
significantly drive the demand for algae products in the region.
Customers can also
request for 10% free customization on this report.
Global algae
products market can be broadly categorized based on source into microalgae and microalgae.
The microalgae segment dominated
the market in 2018 because high value proposition of algae products in the
pharmaceutical sector, replacing several synthetically manufactured
pharmaceutical products.
“Algae are highly sensitive to change in
environmental conditions, the production hubs for different types of algae are
fragmented across the world. China, Japan, South Korea and other eastern
countries are production hubs for Macroalgae and North America and South
America are production hubs for microalgae. The market is
highly fragmented in terms of number of players and the type of algae products
they offer. Since different end use industries require different grades of
algae, the manufacturers in the global algae products market should focus on a
specific industry by developing a industry specific of strains of algae. The
leaders of the market are microalgae products manufacturers majorly in the
pharmaceutical and food and beverage industry.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Algae Products Market
Forecast and Opportunities, 2023” has evaluated
the future growth potential of Global algae products market and provides
statistics and information on market structure, size, share and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers to take sound investment evaluation. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the Global algae products market.
About TechSci Research
TechSci Research is a
leading global market research firm publishing premium market research reports.
Serving 700 global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research based consulting assignments in high growth and
emerging markets, leading technologies and niche applications. Our workforce of
more than 100 fulltime Analysts and Consultants employing innovative research
solutions and tracking global and country specific high growth markets helps
TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
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Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
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