Microbial Algae Product Market

Microbial Algae Product Market Outlook (2024 to 2034)

Expanding at a compound annual growth rate (CAGR) of 6.1%, the global microbial algae product market is forecast to increase from a value of US$ 3.43 billion in 2024 to US$ 6.2 billion by the end of 2034, as reveals in a latest industry research report by Fact.MR.

In recent years, there has been a noticeable increase in the demand for microbial algae products owing to their high nutritional content, such as minerals, vitamins, omega-3 fatty acids, and proteins. Growing concerns about food security, animal welfare, and environmental sustainability are projected to generate demand for alternative protein sources. Microbial algae products work as a viable solution owing to their minimal environmental footprints and high protein content in comparison to conventional protein sources, such as soy, meat, etc.

The growing use of microbial algae in numerous industries, including pharmaceuticals, food & beverages, animal feed, cosmetics, nutraceuticals, and biofuels, is projected to compel companies to develop novel products. This constant and active involvement of market players will contribute to overall microbial algae product market growth.

• East Asia is forecast to account for 27% of the global microbial algae product market share by the end of 2034.

• Worldwide demand for astaxanthin is projected to increase at a CAGR of 6.3% and reach a market valuation of US$ 1.27 billion by the end of 2034.

• Sales of microbial algae products in Japan are forecasted to rise at a CAGR of 7.3% from 2024 to 2034.

Numerous governments around the world are actively promoting the use of algae as a sustainable source through subsidies, grants, regulatory support, and tax incentives. These policies are estimated to encourage investment in R&D activities, market expansion, and production facilities. Algae cultivation is generally considered an environment-friendly practice as it needs minimal water, resources, and land compared to conventional agriculture. In addition, carbon dioxide, wastewater, and other waste streams can also be used in the production of algae, thus helping in mitigating environmental pollution.

Growing consumer awareness about health and wellness is expected to increase demand for functional and natural ingredients. Microbial algae products are perceived as natural, clean-label, and functional ingredients, appealing to health-conscious consumers more.

Report Attributes	Details
Microbial Algae Product Market Size (2024E)	US$ 3.43 Billion
Forecasted Market Value (2034F)	US$ 6.2 Billion
Global Market Growth Rate (2024 to 2034)	6.1% CAGR
Market Share of North America (2034F)	18.9%
South Korea Market Growth (2024 to 2034)	8.4% CAGR
Market Share of Foods & Beverage Segment (2034F)	36.8%
Key Companies Profiled	Cyanotech Corporation DIC Corporation DSM N.V. EID Parry Ltd. BGG Chr. Hansen Holding A/S NOW Foods Divi’s Laboratories KDI Ingredients Fuji Chemicals Industries Co. Ltd. Algatechnologies Ltd. Naturex S.A. Fuqing King Dnarmsa Spirulina Co. Ltd.

What is Responsible for Expansion of Microbial Algae Product Market Size?

“Increasing Awareness Related to Microalgae Products”

In recent years, more individuals have become aware of the impacts of food products on healthcare. Therefore, an increase in the demand for functional foods is experienced. Further, more consumers are inclined toward a healthy lifestyle, which has resulted in the increased consumption of healthy and natural products. Numerous people are becoming conscious about their diet and health. Increasing awareness about the advantages of microbial algae products is anticipated to contribute to revenue streams.

Increasing consumption of dietary supplements by health-conscious people is expected to positively impact demand for microbial algae products, further estimated to open up lucrative opportunities for players.

“Growing Requirements for Natural Ingredients in Supplements”

Increasing demand for natural supplements along with rising awareness about the negative effects of synthetic products among more individuals is estimated to lead to the growing production of chlorella, spirulina, and astaxanthin in the coming 10 years. More consumers are inclined to consume natural products, therefore food suppliers are working on their existing product lines to provide unique products. They are adopting consumer-friendly ingredients, such as natural sources, colors, etc.

There are some consumers, who are avoiding animal-based proteins due to increasing health and environmental issues in several regions across the globe. The growing movement of some consumers toward microbial algae or plant-based proteins is estimated to contribute to the microbial algae product market trends.

What Can Dent the Profits of Microbial Algae Product Suppliers?

“Monetary Aspects Related to Microbial Algae Limiting Expansion Opportunities”

Market expansion is being hindered by the high cost of maintenance, operation, and infrastructure required for microbial algae products. In addition, technical difficulties associated with microbial algae product production can hinder market growth opportunities.

How are Startups Expected to Make a Position for Themselves?

“Technological Advancements in Processing and Cultivation”

Genetic engineering, more efficient cultivation techniques, and advances in biotechnology are projected to improve the scalability and efficiency of microbial algae production. These advancements are estimated to lead to a significant reduction in the price of microbial algae and, thus related products. The involvement of startups in these advancements can help increase their profit share.

Country-wise Insights

Around 27% share of the global market is forecast to be held by East Asia by the end of 2034, as mentioned in the research report published by Fact.MR, a market research and competitive intelligence provider. This dominance is attributed to increasing health awareness and rising disposable income, which contribute to the increased spending capacity of individuals on microbial algae products.

Which Dynamics are Influencing the Stance of Suppliers of Microbial Algae Products in the United States?

“Rising Population of Health Conscious People Increasing Adoption of Organic Food”

Attribute	United States
Market Value (2024E)	US$ 543.3 Million
Growth Rate (2024 to 2034)	5% CAGR
Projected Value (2034F)	US$ 885.1 Million

The United States is anticipated to account for 75.6% share of the North American market by the end of 2034. Rising interest in fitness along with an expansion of the organic food industry is anticipated to set noteworthy high standards for quality control and assurance. In addition, rising inclination to healthy food options is expected to contribute to the increased consumption of microbial algae products.

Why Does China Hold a Noteworthy Share of the East Asian Market?

“Rising Health Consciousness and Consumption of Plant-based Proteins”

Attribute	China
Market Value (2024E)	US$ 654.2 Million
Growth Rate (2024 to 2034)	6.6% CAGR
Projected Value (2034F)	US$ 1.24 Billion

China is forecast to account for 73.9% share of the East Asian market by the end of 2034. Manufacturers in China are projected to incorporate cutting-edge technologies into their production facilities to improve the standard of their product delivery. China is estimated to hold a noteworthy position in the production of plant-based compounds due to the easy availability of raw materials. In addition, increasing awareness about wellness and health among more individuals is estimated to lead to a noteworthy shift in consumption patterns. They aim to minimize carbohydrate-rich diets while consuming protein-rich products, such as microbial algae products.

Category-wise Insights

As mentioned in the Fact.MR report, demand for microbial algae products is projected to increase more in different types of foods & beverages. Growing inclination to plant-based protein sources along with an increasing population of vegan people is estimated to contribute to the growing consumption of microbial algae products.

Why is Astaxanthin More Popular among End Users?

“Health Benefits of Astaxanthin Promoting Consumption”

Attribute	Astaxanthin
Segment Value (2024E)	US$ 689 Million
Growth Rate (2024 to 2034)	6.3% CAGR
Projected Value (2034F)	US$ 1.27 Billion

Astaxanthin is forecasted to hold 20.45% share of the global market by the end of 2034. It is a potent antioxidant with numerous health benefits and is well-known for its ability to reduce oxidative stress, neutralize free radicals, and protect cells from damage. Astaxanthin is closely linked to supporting cardiovascular health, improving physical performance, and reducing inflammation. In addition, its rising use in various anti-aging creams, supplements, and serums is contributing to growing demand.

Which Application of Microbial Algae Products Accounts for Higher Revenue?

“Increasing Consumption of Microbial Algae Products in Foods & Beverages”

Attribute	Foods & Beverages
Segment Value (2024E)	US$ 1.28 Billion
Growth Rate (2024 to 2034)	5.9% CAGR
Projected Value (2034F)	US$ 2.28 Billion

Foods & beverages are set to contribute a 36.8% share of global market revenue by the end of 2034. Fast urbanization, a growing working population, and population expansion are projected to increase spending on healthy food products, which is estimated to positively impact on product sales. In addition, increasing consumer spending on plant-based foods & beverages owing to a vegan lifestyle is estimated to aid the microbial algae product market growth.

Competitive Landscape

Prominent manufacturers of microbial algae products are planning for increased expenditures to offer quality products and manage their supply chain systems. In addition, they are constantly putting effort into new developments to secure a position for themselves.

For instance:

• DSM N.V., in April 2020, came up with its new vegetarian omega powder, used in infant nutrition. It can help manufacturers to produce infant formula products of high quality.

Key players in the microbial algae product industry include Cyanotech Corporation, DIC Corporation, DSM N.V., EID Parry Ltd., BGG, Chr. Hansen Holding A/S, NOW Foods, Divi’s Laboratories, KDI Ingredients, Fuji Chemicals Industries Co. Ltd., Algatechnologies Ltd., Naturex S.A., and Fuqing King Dnarmsa Spirulina Co. Ltd.

Segmentation of Microbial Algae Product Market Research

• By Product Type :

  • Astaxanthin
  • Lutein
  • B-carotene
  • Spirulina
  • PUFA
  • Chlorella
  • Others

• By Application :

  • Foods & Beverages
  • Personal Care
  • Dietary Supplements & Pharmaceuticals
  • Animal Feed & Aquaculture
  • Others

• By Region :

  • North America
  • Europe
  • East Asia
  • Latin America
  • Middle East & Africa
  • South Asia & Oceania