Global algae products market stood at $ 9.9 billion in 2018 and is projected to grow at a CAGR of over 7% during 2019-2024
NEW YORK, June 13, 2019 /PRNewswire/ -- Global Algae Products Market By Source (Macroalgae and Microalgae), By Application (Pharmaceuticals and Nutraceuticals, Food & Beverages, Cosmetics and Others), By Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa), Competition, Forecast & Opportunities, 2024
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Global algae products market stood at $ 9.9 billion in 2018 and is projected to grow at a CAGR of over 7% during 2019-2024 to reach $ 14.99 billion by 2024, on the back of increasing use of algae products in healthy food items to produce natural nutrient supplements, thereby emerging as a promising substitute for animal based nutrition. Growing application of algae products in the pharmaceutical sector for manufacturing antimicrobials, antivirals and anti-bacterial medicines, neuroprotective products, human therapeutic proteins, drugs for cancer treatment, and pharmacology is another major factor expected to fuel the market in coming years. Some of the other market drivers are increasing investments in algae production, growing number of mergers & acquisitions, and rising demand for alternative source of energy such as algae-based biofuels.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
-- To analyze and forecast global algae products market size.
-- To define, classify and forecast global algae products market on the basis of source, application, and region.
-- To scrutinize the detailed market segmentation and forecast the market size on the basis of application, namely - Pharmaceutical and Nutraceutical, Food & Beverages, Cosmetics and Others.
-- To analyze and forecast the market share for algae products with respect to region, namely: North America, South America, Asia-Pacific, Europe and Middle East & Africa.
-- To identify tailwinds and headwinds for global algae products market.
-- To strategically profile the leading players operating in algae products market, globally.
Some of the major players operating in global algae products market are DIC Corporation
BASF SE, Koninklijke DSM N.V., Corbion N.V., Cyanotech Corporation, AlgaTechnologies Ltd., Algaetech International Sdn Bhd, Tianjin Norland Biotech Co., Ltd., Cellana, Inc. and E.I.D Parry (India) Limited.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of algae product manufacturers and suppliers.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, and regional presence of all major algae product suppliers across the globe.
The analyst calculated global algae products market size by using a bottom-up approach, where manufacturers' value shares data for product source (microalgae and macroalgae) were recorded and forecast for the future years. The analyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size.
Various secondary sources such as directories, databases such as company annual reports, World Bank, industry magazines, industry reports, news dailies, Algae Product Associations, Food and Agricultural Organizations, credible paid databases and proprietary databases were also studied by the analyst.
Key Target Audience:
-- Algae Product manufacturers, Importers and suppliers
-- Research organizations and consulting companies
-- Organizations, forums and alliances related to Algae
-- Government bodies such as regulating authorities and policy makers
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as algae product manufacturers, distributors and dealers, customers and policy makers. The study would also help in identifying market segments that should be targeted over the coming years in order to strategize investments and capitalize on the growth of the market segment.
Report Scope:
In this report, global algae products market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
-- Market, by Source:
o Microalgae
o Macroalgae
-- Market, by Application:
o Pharmaceutical & Nutraceutical
o Food & Beverages
o Cosmetics
o Others
-- Market, by Region:
o Asia-Pacific
China
Japan
South Korea
Indonesia
Philippines
Rest of Asia-Pacific
o North America
United States
Canada
Mexico
Rest of North America
o South America
Chile
Brazil
Peru
Rest of South America
o Middle East & Africa
Israel
Saudi Arabia
UAE
Turkey
Rest of Middle East & Africa
o Europe
United Kingdom
Germany
Belgium
France
Netherlands
Rest of Europe
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global algae products market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Channel Partner Analysis
-- Detailed list of distributors and dealers across all major countries.
Company Information
-- Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p05781837/?utm_source=PRN
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