A report on the Global Algae Market has been published by Contrive Datum Insights. The report provides clients with the latest trending insights into the Algae market. It can be seen that the report includes market value and growth rate, size, production consumption and gross margin, pricing and other influencing factors. Along with this, in the report, you will get detailed information about every distributor, supplier, and retailer in the market. The competitive scenarios of all industry players are mentioned in detail in the report. The pandemic has caused market participants to strategically change their business plans.
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Algae Market are photosynthetic eukaryotes that grow in aquatic climates and use light and carbon dioxide (CO2) to produce biomass. There is a growing market demand for macro algae and micro algae foods due to their functional advantages beyond traditional health and nutritional considerations. In addition, algae were able to provide higher oil yields than biofuel feedstock containing sorghum, corn Stover, sugar beets and corn. Thus, a huge opportunity is created for the growth of the global algae market. Rising R&D activities among manufacturers is expected to drive market growth. Increasing need for reliable, sustainable, and low-cost energy sources to ease the oil supply chain and meet growing demand from the aviation and automotive industries are the major factors expected to drive the growth of the global algae market over the forecast period.
The report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as International Business Machines (IBM) Corporation, Oracle, Microsoft Corporation, Hewlett-Packard Enterprises, SAP, Dell Incorporation, Teradata. Geographically, this market has been segmented into regions such as North America, Latin America, Europe, Asia Pacific and Rest of the World. The study details country-level aspects based on each segment and gives estimates in terms of market size.
In terms of volume, Asia Pacific accounted for 59.1% share of the global algae market in 2021. The market in this region is expected to grow at a CAGR of 11.4% during the forecast period. India, China, and the rest of Asia-Pacific are the major markets in the region. According to the Food and Agriculture Organization of the United Nations, Asia accounted for nearly 99.10% of all algae grown globally in 2019.
North America holds the second largest share of 19.2% of the global market in 2021. The market in the region is likely to grow at a CAGR of 8.6% from 2022 to 2031.
Algae Market Segmentation:
By Type:
- Open Ponds Cultivation
- Raceway Ponds Cultivation
- Closed Photo bioreactor Cultivation
- Closed Fermenter Systems Cultivation
- Other
By Applications:
- DHA Production (Protein Sales)
- DHA Production (Pharmaceutical Applications)Bioplastics
- Other
Frequently Asked Questions (FAQ):
- What is the growth rate predicted for the Global Algae Market?
- Who are the top performing companies in Algae Market?
- Which region dominated the worldwide market for Algae in 2022?
Related Sources:
- https://www.digitaljournal.com/pr/pallet-pooling-system-rental-market-overview-2022-to-2030-future-trends-and-forecast-cagr-6-40
- https://www.openpr.com/news/2853065/biohacking-market-business-strategies-industry-share-size
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