The Global Industrial Algae Market generated revenue of around USD 5,125 million in 2020 and is anticipated to grow at a CAGR of over 9.03% during the forecast period from 2021 to 2027 to reach around USD 10,330 million in 2027. While, cumulative growth opportunity presented by the global Industrial Algae is around USD 55,311 million during 2021 to 2027.
Global Industrial Algae Market, 2020 – 2027 (USD Million)
Industrial algae is used in wide ranging applications from marine to food & beverage. There are thousands of algae varieties are present in the world. Algae can be red, brown and green in color. Algae farming has become a profitable business. Average cost of industrial algae is around USD 1,000 to USD 1,250.
Growing Demand DHA Production
DHA Production for both protein as well as pharmaceuticals has been remained major driving force for the industrial algae industry. Algae is very important ingredient in DHA production. Moreover, omega-3 fatty acids or natural food colorants and dyes, food, etc. are increasingly demanding algae as an ingredient.
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Open Pond Cultivation Technology is Expected to Grow at Rapid Pace
Open Pond Cultivation Technology, Raceway Pond Cultivation Technology, Closed Photo Bioreactor Cultivation Technology and Closed Fermenter Systems Cultivation Technology are some of the important technologies used in cultivation of industrial algae. Open Pond Cultivation Technology is most prominently used technology for the cultivation of industrial algae. Open Pond Cultivation Technology is likely to grow at a rapid pace as compare to other technologies.
DHA Production (Protein Sales) and DHA Production (Pharmaceutical Applications) to Dominate
Marine Sector, Aviation Sector, Road Transport, DHA Production (Protein Sales), DHA Production (Pharmaceutical Applications), Bioplastics and Others are some of the important application markets for the industrial algae. DHA Production (Protein Sales) and DHA Production (Pharmaceutical Applications) are growing at a rapid pace on the account of increasing popularity of algae as an ingredient in food & beverage as well as pharmaceuticals.
Algae Tec, Pond Biofuels Incorporated, LiveFuels, Inc, Algae Systems LLC, Sapphire Energy, Inc., Solazyme, Inc., Diversified Energy Corporation, Algenol, Kai BioEnergy Corp., Algix, DSM Nutritional Products, Dao Energy, LLC, Phycal LLC and Kent BioEnergy Corporation are some of the major players in industrial algae market.
North America and Europe are leading industrial algae industry with huge share in total revenue generated by the global industrial algae industry. This can be attributed to need of huge capital expenditure and access to advanced technology. U.S., Germany, UK and France are leading the industrial algae industry. However, Asia Pacific is also expected to grow at a rapid pace over the forecast period. With further development in cultivation technology and increasing commercial scale cultivation, production cost is likely to come down which in turn may help industry to penetrate in underdeveloped or developing regions such as India, Brazil, China, etc.
Market Segmentation
Global Industrial Algae Market by Cultivation Technology, 2015 – 2027
- Open Pond Cultivation Technology
- Raceway Pond Cultivation Technology
- Closed Photo Bioreactor Cultivation Technology
- Closed Fermenter Systems Cultivation Technology
Global Industrial Algae Market by Distribution Channel, 2015 – 2027
- Marine Sector
- Aviation Sector
- Road Transport
- DHA Production (Protein Sales)
- DHA Production (Pharmaceutical Applications)
- Bioplastics
- Others
Global Industrial Algae Market by Company, 2015 – 2027
- Algae Tec
- Pond Biofuels Incorporated
- LiveFuels, Inc
- Algae Systems LLC
- Sapphire Energy, Inc.
- Solazyme, Inc.
- Diversified Energy Corporation
- Algenol
- Kai BioEnergy Corp.
- Algix
- DSM Nutritional Products
- Dao Energy, LLC
- Phycal LLC
- Kent BioEnergy Corporation
- Others
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