Demand for Microalgae in Fertilizers Sector Market Boosting the Growth Worldwide with Forecast 2022-2031

The demand for microalgae in fertilizers sector is forecast to grow at a steady pace, with its overall valuation surpassing US$ 9479 Thousand in 2021, exhibiting 7.7% year on year growth. As per Future Market Insights (FMI) analysis, demand for microalgae in fertilizers sector is expected to surge at an 8.7% CAGR over the course of the assessment period, from 2021 to 2031.

Microalgae is an organic, natural material and is a source of renewable energy obtained from marine or freshwater sources. Various species are finding roles of water retention and nutrition for varying soil profiles.

They have been utilized as a soil conditioner for numerous years in various studies, where liquid preparation and powdered extracts are used satisfactorily on cereal crops, resulting in increased crop yield, higher nutrient uptake, and improved herbicide tolerance.

Dry algae is also gaining traction as compost, assisting in soil binding, making it ideal for use as a bio-fertilizer. As dry algae is an organic material, it may store nutrients and provide them to plants via capillary action for a longer period.

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Conventional chemical fertilizers dissolve in water and settle deep in the ground. Consequently, nutrients in fertilizers become unavailable over time. Microalgae fertilizers are used to resolve this problem. It also increases the soil’s water-holding capacity and the intermolecular space between soil molecules, allowing sufficient aeration to reach the root system.

Consumer preference for organic and environment-friendly fertilizers to enhance crop yield along with increasing concerns about sustainability drive the demand for microalgae in the fertilizers industry. Rising concerns pertaining to reduced soil salinization, greenhouse emissions, and abiotic stress in agriculture are driving the demand for natural ingredient-based fertilizers, supporting the incorporation of microalgae.

Growing Applications of Microalgae Residue

Cyanobacteria and microalgae have numerous applications and are a significant source of bioactive compounds. Generally, microalga is a rich source of essential macro and micro-elements, which can be used as a protein source in food, feed, and fertilizer applications.

Microalgae contain lipids, carbohydrates, and proteins. Lipids extracted from algae are rich in oxygen (O) (26.3%), C (49.0%), N (5.76%) and hydrogen (H) (6.96%).

Untreated microalgae and microalgae biomass are rich in organic matter and macronutrient contents. This supports soil fertility, which in turn helps consumers to gain higher crop yield. Moreover, the cost of microalgae is comparatively low. Therefore, several fertilizer manufacturers utilize algae waste in their products.

Who is Winning?

Key players who are engaging in producing and supplying microalgae in fertilizers sector are actively involved in changing market strategies and expanding production capacities to keep up with the demand for microalgae in the fertilizers sector.

Some of the key players operating in microalgae demand analysis in the animal feed sector include DIC Corporation, Cyanotech Corporation, Koninkliijke DSM NV, Roquette Frères, BASF SE, Fuji Chemical Industries Co., Ltd., Parry Nutraceuticals, BGG (Beijing Gingko Group), KDI Ingredients, Sinoway Industrial Co., ltd., INNOBIO Corporation Limited, Yunnan Alphy Biotech Co., Ltd, Algaecan Biotech Ltd., Algatechnologies Ltd., Cardax, Inc, Igene Biotechnology, Inc., Fenchem Biotek Ltd., AstaReal Inc., Valensa International, Kunming Biogenic Co., Ltd., and many others.

Demand for Microalgae in Fertilizers Sector by Category

By Species Type:

  • Spirulina
  • Chlorella
  • Dunaliella
  • Schizochytrium
  • Euglena
  • Nannochloropsis
  • Nostoc
  • Others

By Source:

  • Marine water
  • Fresh Water

By End Use Application:

  • Biofertilizers
  • Biocontrole
  • Soil microalgae
  • Biostimulants
  • Fungicide & Insecticide
  • Pesticide
  • Soil Conditioner
  • Agriculture Herbicide
  • Animal Repellent
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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Key Questions Answered in the Report

  • What is demand for microalgae in fertilizers sector market size?

Propelled by improvements in research and development and emerging technologies in the fertilizers sector, the global demand for microalgae in fertilizers sector will surpass US$ 9,479.4 Thousand in 2021 and it is also expected to surpass US$ 21,747.6 Thousand by 2031.

  • At what rate did the demand for microalgae in fertilizers sector expand in the last five years?

According to FMI’s analysis, demand for microalgae in fertilizers sector sales have grown at 6.6% CAGR between 2016 and 2020. The market’s valuation stood at over US$ 8,805.2 Thousand in 2020.

  • What are the key trends shaping the demand for microalgae in fertilizers sector?

Key trends shaping the market include growing environment-friendly and sustainable agricultural practices. Organic farming will continue fuelling the demand for microalgae in the fertilizers sector across the forecast period. High biotechnology potential for soil research is driving consumer attention.

  • What are the key factors driving demand for microalgae in fertilizers sectors?

Growing requirements of soil conditioners, efforts to improve abiotic stress tolerance to improve crop yield and stability of soil drive the demand for microalgae in fertilizers sector over forecast period.

  • What are the statistics of microalgae demand in the North America fertilizer sector?

Demand for microalgae in the fertilizer sector in North America is set to rise, aided by the demand for bio-fertilizers across the U.S. and Canada. As per FMI research, North America will hold 34.3% of the global demand in 2021.

About FMI:

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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