The Global Algae Products Market: An Overview
Algae areoxygen-exhaling, photosynthetic, multicellular or unicellular microorganisms.These unique characteristics enable these microorganisms to consumecarbon-dioxide, store vital nutrients, vitamins, and minerals. Algae productsmarket caters to a wide range of industries due to their large number ofapplications.
Some ofthese applications include food for cattle, food for diet, fodder, fertilizers,medicinal iodine, and purification of water as well. Moreover, algae productsmarket also serves the demand for production of kelp, agar, algin and for thesupply of additional oxygen during emergencies in the aviation sector. Thealgae products market is also riding high on its growth potential as analternative to fossil fuels.
TheTransparency Market Research (TMR) report provides an intelligent analysis ofthe globalalgae products market, which includes an in-depth analysis ofdevelopment indicators and demand parameters that could influence the growth ofthis market. Main market parameters such as demand drivers and challenges ofglobal algae products market are discussed at length in this report.
The Global Algae Products Market:Key Trends
The use ofalgae as a food source in coastal cultures dates is quite prominent. Algae is also known as sea lettuce and it is cultivated in the Philippines as afood source. Similarly, Japanese menu consists of over 25% algae-based diet.Furthermore, blancmange, a popular dessert in Denmark and France is preparedusing red algae. Algae’s familiarity in coastal regions and growing demand forits enriching diets filled with nutrients and vitamins are expected to drivethe growth of the global algae products market.
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Algaeproducts market is also riding high due to algae’s growing demand in agriculture.Algae-based fodder helps improve the milk-content of cows and can enrich butterand fat content. Similarly, kelp, food for poultry is produced using algae. Thealgae products market serves an essential commercial need and its enrichingpotential as a fodder material are expected to drive its growth during2018-2026.
Algaeproducts market also promises to offer solutions to the growing demand forenergy and sustainability. Algae products have shown promise in the creation ofvarious alternative sources of fuels including biodiesel, biobutanol,biogasoline, methane, ethanol, green diesel, jet fuel and others. As fuelprices continue to grow, the global algae products market is expected to growsignificantly due to rising applications in one of the most lucrativeapplications around the world.
The highcosts associated with the production of algae-driven fuel can pose a challengeto the growth of the global algae products market. However, increasinginvestments by private and public entities around the world are expected tocreate new opportunities for growth in the global algae products market.
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The Global Algae Products Market:Regional Outlook
The globalalgae products market can be divided into North America, Europe, Asia Pacific,Latin America, and Middle East & Africa by region. The algae productsmarket in the North America region held the largest share of the global marketin 2018. The algae products market in North America is witnessing growth due togrowing awareness about the benefits of a vegetarian lifestyle, an increasingnumber of vegans, and high demand for algae-based minerals, nutrients.
Similarly,Asia-Pacific is expected to register the fastest growth in the global algaeproducts market during 2018-2026. The region is predicted to witness growth dueto rise in population, increasing demand for food cultivation, the rise inhealth awareness along with a rise in disposable income.
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The Global Algae Products Market:Competitive Dynamics
The mainplayers in the global algae products market are Algae Systems LLC., euglenaCo., Ltd., Cargill, Incorporated, Cyanotech Corporation, BIOPROCESS ALGAE, LLC.
