Algae-based Ingredients Market Growth Projections to 2030

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Algae-based Ingredients Market Size to Cross USD
6 Bn by 2030
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Overview of Algae-based Ingredients Market

• The global algae-based ingredients market is set
  to register a significant expansion from 2023 to
  2030, owing to the increasing prevalence of
  several chronic health conditions and the
  subsequent demand for nutraceuticals and other
  nutritional supplements. Unhealthy dietary habits
  and sedentary lifestyle lead to improper
  nutrition in children and adults, resulting in an
  increased risk of heart diseases, obesity, type 2
  diabetes, certain cancers, and other chronic
  diseases.
• According to the 2023 report from World Health
  Organization, cardiovascular diseases cause
  almost 17.9 million deaths annually. The other
  health conditions such as cancers, chronic
  respiratory diseases, and diabetes lead to 9.3
  million, 4.1 million, and 2 million mortalities
  in a year, respectively. The increasing disease
  burden, in covalence with the rising health
  concerns, and surge in expenditure on nutritional
  products may stimulate the demand for algae-based
  ingredients over the projection period.

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• The agar segment exceeded USD 220 million in 2021
  and is expected to expand at over 4.5 CAGR
  between 2023 and 2030. The gel-like substance
  found in agar causes a bulking effect in the gut
  that stimulates the intestines and creates a
  bowel movement, making it useful as a laxative.
  The increasing utilization of the product as a
  weight loss ingredient due to its tendency to
  make people feel full and enabling appetite
  control will promote the agar segment growth in
  the forthcoming years.
• The algae-based ingredients market share from the
  brown algae source segment accounted for over USD
  630 million in 2021 and is expected to depict
  over 5 CAGR during the assessment timeframe.
  Brown algae are found to beneficial for several
  health conditions, such as cancer, arthritis,
  fibromyalgia, stress, weight loss, high
  cholesterol, heart disease, and others. The
  antioxidant effects of the product facilitate
  oxygen supply to the skin, prevents the
  degradation of collagen, and support healthy cell
  growth, supporting usage of brown algae in
  personal care products.

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• The pharmaceutical segment is poised to record a
  valuation worth over USD 370 million by 2030,
  exhibiting a noticeable growth rate throughout
  the forecast period. The increasing number of
  pharmaceutical companies are incorporating
  algae-based oils and proteins in the production
  of several drugs. In addition, the extensive
  utilization of microalgae in producing bioactive
  compounds, including enzymes, hormones, and
  monoclonal antibodies in several therapeutic
  applications may further bolster product demand.
• The Latin America algae-based ingredients market
  is anticipated to record a sizeable valuation,
  depicting a CAGR of over 6 between 2023 and
  2030. The presence of favorable trade and FDI
  policies has streamlined the expansion of
  pharmaceuticals and FB industries, creating new
  growth prospects for the regional market.
  Besides, the emerging health and beauty trends,
  and the subsequent rise in the consumption of
  nutraceutical and nutricosmetic products will
  drive the demand for algae-based ingredients
  across Latin America.
• Notable participants in the Algae-based
  Ingredients market include  Corbion, Aliga
  Microalgae, Triton, Cargill, Gino Biotech, CP
  Kelco U.S. Inc., AEP Colloids, KIMIA, Marine
  Hydrocolloids, AgarGel, Hispanagar SA, Taiwan
  Chlorella Manufacturing Company

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