Market Overview:

Algae are commonly employed in the food industry owing to its wide range of various functional ingredients. Algae are high in essential oils such as omega 3 fatty acids and PUFA which is mainly employed in pharmaceutical and health food products. The world algae ingredients market was valued USD xx million in 2018 and expected to be growing at a CAGR of xx%, to reach USD xx million by 2023. Algae are a varied group of aquatic organisms capable of performing photosynthesis.

Market drivers and restraints:

The restraining factors of the algae ingredient market are the high production, downstream processing costs and health safety issues of algae-based products. The extraction of algae needs expensive, energy intensive processing technology that escalates the cost of production. Also, the products obtained from algae have a low sensory quality that is less acceptable to the end-user that is also affecting the market growth. The restraining factors of the algae ingredient market are the high production, downstream processing costs and health safety issues of algae-based products. The extraction of algae needs expensive, energy intensive processing technology which increases the cost of production. Also, the products obtained from algae have a low sensory quality that is less acceptable to the end-user that is also affecting the market growth.

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Report segmented as:

By type:

omega 3 fatty acids
carrageenan
alginate
agar
beta-carotene
others
By application:

food
pharmaceuticals
animal nutrition
cosmetics
others
By source:

green algae
red algae
blue-green algae
brown algae
others
Geographical analysis:

On the basis of geography, the market is segmented into regions namely North America, Europe, Asia-Pacific, South America and Africa. North America holds the highest share in the market followed by Europe and Asia-Pacific. Nevertheless, the new growing markets of Asia-Pacific such as China, Japan and India are growing at a faster rate.

Important market players:

The key players operating in the market are Solazyme Inc, Cargill, ADM, BASF and Cyanotech amongst others.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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