Exploring the Bright Future of the Microalgae Market Microalgae Market 20 2 3 - 20 30 Page 1 of 8 © M eticulous R esearch | sales@meticulousresearch.com According to a new market research report titled ‘ Microalgae Market by Type (Spirulina, Chlorella, Dunaliella Salina, Nannochloropsis), Production Technique (Ponds, Fermenters, PBR), Distribution Channel (B2C, B2B), Application (Nutraceuticals, Food and Beverages), and Geography — Global Forecast to 2030 , ’ i n terms of value, the microalgae market is projected to reach $ 3.08 billion by 2030 , at a CAGR of 9.4 % from 2023 to 2030 , while in terms of volume, the market is pro jected to reach 100,788.0 tons by 2030 , at a CAGR of 12.8 % from 2023 to 2030 Download Free Sample Report Now @ https://www.meticulousresearch.com/download - sample - report/cp_id=5197 Microalgae are an important functional food and nutrient source due to their health benefits. They are rich in proteins, lipids, polysaccharides, dietary fiber, vitamins, trace e lements, and active metabolites. The polysaccharides and glycoproteins in Spirulina have been proven to have anti - tumor, anti - pathogen, and anti - viral properties. Microalgae such as Spirulina are rich in nutrients, such as B vitamins, phycocyanin, chloroph yll, vitamin E, Omega - 6 fatty acids, and minerals. Microalgae products are consumed as supplements as they enhance immunity. Microalgae grow rapidly and can support the large - scale production of health supplements. T he growth of this market is backed by t he booming nutraceuticals sector, growing health concerns of the aging population worldwide, the growing need for natural alternatives to traditional pharmaceutical products, and increased consumer awareness regarding the link between nutrition and health The Impact of COVID - 19 on the Microalgae Market The algae industry witnessed a major drop in microalgae sales in the first quarter of 2020 due to disrupted logistics and transportation. The market also witnessed interruptions in the entire value chain, fr om the supply of raw materials for culture media to the production, packaging, and distribution of microalgae products. The effects of the COVID - 19 pandemic on the microalgae market were first felt in China starting in 2020, as the country is one of the wo rld's largest producers and consumers of microalgal species. Factory closures, microalgae processing facilities operating at reduced capacities, and restrictions on importing and exporting algae biomass in China strongly impacted the microalgae market. Mor eover, the pandemic also impacted the microalgae market in many other countries, including the U.S., India, Australia, Brazil, and the EU - 5 countries. Due to the countrywide lockdown in India, many commercial microalgae Microalgae Market 20 2 3 - 20 30 Page 2 of 8 © M eticulous R esearch | sales@meticulousresearch.com production and processing facilities shut down or operated at reduced capacities, leading to substantial losses in domestic microalgae production. However, nutrition was people’s top priority for maintaining good health and strengthening the immune system. As a result, there was high demand for plant & algae - based food products & beverages on e - commerce platforms. For instance, spirulina is known for its immune - boosting and anti - viral properties, which boosted the sales of spirulina supplements. According to various research studies, spirulin a inhibits influenza virus replication and reduces virus - induced mortality. According to immunologists at the Davis School of Medicine, University of California, the addition of spirulina to cultured immune system cells significantly increased the producti on of infection - fighting cytokines. Researchers at UC Davis School of Medicine studying the effects of spirulina on both anemia and immune function found that spirulina, with its rich content of flavonoids and sulfolipids, modulates the production of cytok ines and with its bioactive proteins stimulates the intestinal immune system to enhance the responsiveness to vaccines and improve allergic rhinitis. Speak to our Analysts to Understand t he Impact of COVID - 19 on Your Business: https://www.meticulousresearch.com/speak - to - analyst/cp_id=5197 Furthermore, the U.S. Food and Drug Administration (FDA) approved several microalgae, including Chlamydom onas reinhardtii, Dunaliella bardawil, and Chlorella species, as they have a rigid cell wall that acts as a natural encapsulation to protect the recombinant proteins from the aggressive environment of the stomach. This feature was used for the rapid produc tion and edible targeted delivery of S - glycoprotein and soluble ACE2 for the treatment/inhibition of SARS - CoV - 2. Therefore, the demand for microalgae - based products has increased since the pandemic. Moreover, the chlorella market was positively impacted ma inly due to the key role of chlorella in strengthening the immune system. Chlorella is a healthy, natural, and sustainable superfood. During the pandemic, consumers demanded food ingredients that strengthened the immune and digestive systems. Hence, microa lgae/algae have been one of the superfood trends in Europe. Thus, the demand for microalgal species, such as spirulina and chlorella, increased during the COVID - 19 pandemic due to people’s increased focus on immunity and nutrition. Increasing Preference fo r Microalgae - sourced Products Microalgae Market 20 2 3 - 20 30 Page 3 of 8 © M eticulous R esearch | sales@meticulousresearch.com Market trends and consumers’ growing interest in natural and healthy products have encouraged researchers and the industry to develop novel products with functional ingredients. Microalgae have been recognized as a source of f unctional ingredients with positive health effects since these microorganisms produce polyunsaturated fatty acids, polysaccharides, natural pigments, essential minerals, vitamins, enzymes, and bioactive peptides. Omega - 3 fatty acids have anti - aging propert ies and offer several benefits, such as preventing heart disease and healing atherosclerosis. Linolenic acid, alpha - linolenic acid, eicosapentaenoic (EPA), and docosahexaenoic acid (DHA) are natural omega - 3 fatty acids. Usually, these omega - 3 fatty acids a re derived from fish oil, but indications suggest that omega - 3 fatty acids in fish oil come from zooplankton, which consumes spirulina. Thus, microalgae are one of the best sources of omega - 3 fatty acids. Algal PUFA production is more economical than biofu el production; hence several large - scale producers are now focusing on nutritional PUFA production instead of biofuel production. Spirulina is one of the most prominent microalgae due to its high production of long - chain polyunsaturated fatty acids, phenol ic compounds, volatile compounds, sterols, proteins, amino acids, peptides, vitamins, polysaccharides, and pigments. It contains 15.8% lipids and 4.9% omega - 3 fatty acids. Due to shortcomings of fish - derived oil, including undesirable taste & odor, diminis hing supplies, chemical processing methods, and the presence of contaminants, such as mercury, dioxins, and polychlorinated biphenyls, omega - 3 fatty acids are now being produced using microalgae (spirulina), as it offers non - polluted omega - 3 fatty acids. I n November 2016, Cellana, Inc. and PIVEG, Inc. signed a letter of intent for the joint development and commercialization of Omega - 3 oils and other high - value applications of microalgae biomass. DSM and Evonik announced a joint development agreement for pro ducing omega - 3 fatty acids from natural marine microalgae for animal nutrition applications. Also, the omega - 3 fatty acids in spirulina platensis prevent the accumulation of cholesterol in the body. DIC Corporation, a wholly owned subsidiary of DIC Lifetec Co., Ltd., which manufactures and sells health foods (notably edible blue - green algae spirulina), signed a sales agency contract with Fermentalg S.A. (France), a developer of microalgae - derived food ingredients. DIC has started marketing Fermentalg’s DHA ORIGINS - 510 series of Schizochytrium sp. - derived highly concentrated docosahexaenoic acid (DHA) oils for use in dietary supplements. These factors are expected to drive the demand for spirulina across the globe. Microalgae Market 20 2 3 - 20 30 Page 4 of 8 © M eticulous R esearch | sales@meticulousresearch.com Quick Buy – Microalgae Market Research Report: https://www.meticulousresearch.com/Checkout/73932463 Nisshin Pet Food has launched 73 new produc ts containing chlorella. Also, Tohato has launched 21 new food products containing chlorella, 16 of which are sweet biscuits/cookies, 4 are corn - based snacks, and 1 is a potato snack. The U.S. - based company, Suja Life, has launched six new juice products, three nectars, and two fruit/flavored drinks containing chlorella. Moreover, in October 2018, The Good Spoon launched a range of vegan mayo replacing egg yolk with chlorella. The company also aims to penetrate the European market with its plant - based mayon naise alternatives. Thus, the increasing application of chlorella in various food products is boosting the demand for chlorella in the food & beverage industry, which is expected to drive the microalgae market during the forecast period. Based on type, in 2023, the Spirulina segment is expected to account for the largest share of the global microalgae market. The large market of this segment is mainly attributed to the rising health & wellness trends and dietary supplements industry; growing demand for natu ral food colors; increasing vegetarianism; stringent regulations regarding the inclusion of synthetic colors and flavors; growing malnutrition; increasing preference for Spirulina - sourced products, especially Omega - 3 fatty acids; growing use of Spirulina i n aquaculture; rising investments from leading color houses; and an increasing number of products that include Spirulina as an ingredient. However, low awareness about the benefits of Spirulina and challenges associated with Spirulina production are expect ed to hinder the growth of the Spirulina segment to some extent. Based on production technique, in 2023, the ponds segment is expected to account for the largest share of the global microalgae market. The large market share of this segment is primarily at tributed to the presence of a large number of key players in the pond cultivation of microalgae. Open ponds , also called raceway ponds, comparatively require lower investment, low operational and energy costs, and have the potential to produce higher bioma ss volumes is further expected to support the growth of this market. Based on category, the organic segment is projected to register the highest CAGR during the forecast period of 2023 – 2030 The growth of this segment is attributed to the increasing demand for natural food colorants and certified organic products in the food industry. Furthermore, increasing demand for organic growth media by microalgae manufacturers is further expected to support the growth of this market across the globe. Microalgae Market 20 2 3 - 20 30 Page 5 of 8 © M eticulous R esearch | sales@meticulousresearch.com Based on distribution channel, in 2023, the business channel (B2B) segment is exp ected to account for the larger share of the global microalgae market. The large market share of this segment is mainly attributed to the direct bulk purchasing of microalgae by manufacturers from various industries, such as nutraceuticals, food & beverage , and animal feed, for further product development. Based on application, in 2023, the nutraceuticals segment is expected to account for the largest share of the global microalgae market. The large market share of this segment is mainly attributed to the b ooming nutraceuticals sector, growing health concerns of the aging population worldwide, the growing need for natural alternatives to traditional pharmaceutical products, and increased consumer awareness regarding the link between nutrition and health. To gain more insights int o the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/microalgae - market - 5197 Thi s research report analyzes major geographies and provides a comprehensive analysis of North America (the U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia - Pacific (China, India, Japan, Australia, and RoAPAC), Latin America (Braz il, Mexico, and RoLATAM), and the Middle East & Africa (Egypt, Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa). In 2023, North America is expected to account for the largest share of the global microalgae market, followed by Asia - Pacific and Europe. The large share of this regional market is mainly attributed to the huge consumption of health supplements, strict regulations against the use of synthetic colors, growth of subsidiary industries like cosmetics and biofertilizers, increasing p reference for natural protein sources, and presence of key algae biomass manufacturers with huge production capacities, especially in the U.S. The microalgae market is characterized by a moderately competitive scenario due to the presence of many large - an d small - sized global, regional, and local players. The key players operating in the microalgae market are Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Earthrise Nutritionals, LLC, (U.S.), E.I.D. - PARRY (INDIA) LIMITED (a subsidiary of M/s. Ambadi Inve stments Limited) (India), Cyanotech Corporation (U.S.), C.B.N. Bio - engineering Co., Ltd (China), YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD. (Yunnan Spirin Biotechnology Co. Ltd) (China), Jiangshan COMP SPIRULINA CO., LTD. (China), Inner Mongolia Rejuve Bi otech Co., Ltd. (China), Zhejiang Binmei Biotechnology Co., Ltd. (China), Bluetec Naturals CO., LTD. (China), Taiwan Chlorella Manufacturing Company(TCMC) (Taiwan), Sun Chlorella corporation (Japan), Roquette Klötze GmbH & Microalgae Market 20 2 3 - 20 30 Page 6 of 8 © M eticulous R esearch | sales@meticulousresearch.com Co. KG (Germany), Gong Bih Enterp rise Co., Ltd. (Taiwan), Yaeyama Shokusan Co., Ltd. (Euglena Co Ltd) (Japan), Vedan Biotechnology Corporation (Taiwan), AlgoSource (France), Tianjin Norland Biotech CO., LTD (China), Phycom BV (Netherlands), Allmicroalgae Natural Products S.A. (Portugal), Aliga Microalgae (Denmark), Taiwan Wilson Enterprise Inc. (Taiwan), Daesang Corporation (Korea), Algalimento SL (Spain), Seagrass Tech Private Limited (India), Plankton Australia Pty Limited (Australia), Hangzhou Ouqi Food Co., Ltd. (China), and Shaanxi Re becca Bio - Tech Co., Ltd (China) Here are the top 10 companies operating in Mi croa l gae Market: https://meticulousblog.org/top - 10 - companies - in - microalgae - market/ Scope of the Report: Global Microalgae Market, by Type • Spirulina • Chlorella • Dunaliella Salina • Haematococcus Pluvialis • Nannochloropsis • Other Microalgae Global Microa lgae Market, by Production Technique • Ponds • Fermenters • Photobioreactors (PBR) Global Microa lgae Market, by Category • Inorganic • Organic Global Microalgae Market, by Distribution Channel Microalgae Market 20 2 3 - 20 30 Page 7 of 8 © M eticulous R esearch | sales@meticulousresearch.com • Business Channel (B2B) • Consumer Channel (B2C) Global Microalgae Market, by Application • Nutraceuticals • Food and Beverages • Animal Feed • Cosmetics • Other Applications Global Microalgae Market, by Geography • North America U.S. Canada • Europe Germany France U.K. Italy Spain Rest of Europe (RoE) • Asia - Pacific China India Japan Australia Rest of Asia - Pacific (RoAPAC) • Latin America Brazil Mexico Microalgae Market 20 2 3 - 20 30 Page 8 of 8 © M eticulous R esearch | sales@meticulousresearch.com Rest of Latin America (RoLATAM) • Middle East and Africa Egypt Saudi Arabia South Africa UAE Rest of Middle East & Africa Contact Us : Meticulous Research ® Email - sales@meticulousresearch.com Contact Sales - +1 - 646 - 781 - 800 4 Connect with us on LinkedIn - https://www.l inkedin.com/company/meticulous - research