Published on : Jul 06, 2021
ALBANY, New York, July 06, 2021– Microalgae refers to unicellular photosynthetic micro-organisms that live in freshwater or saline environments and convert carbon dioxide, water, and sunlight into algal biomass. Microalgae help in the formation of feasible biodiesel feedstock. Microalgae are found in oceans, hot springs, rivers, lakes, ice, soils and in places where both water and sunlight occur together. The report bearing the title "Global Microalgae Market Insights, Forecast to 2026” digs deep into the tendencies of microalgae market, share, development plans, growth, cost structure, funding plans, and analysis of drivers.
The evaluation consists of the market size of the global microalgae market, state of affairs of upstream, growth, and market segmentation. In addition to price, enterprise environment is predicted to assist CEO/stakeholders, industry specialists, vendors, and for tactical, well-informed decision-making.
The entrenched players in the global microalgae market are developing more efficient technologies and cost-effective solutions in an effort to lessen the cost of operation related to the production of microalgae. These new technologies are likely to be adopted by the leading market players, in a bid to reduce operational and investment costs related to microalgae production. These new technologies are to be incorporated with the process of microalgae extraction and harvesting adopted by small and medium enterprises (SMEs). These innovations are likely to assist the SMEs in catering to the demand generated by larger markets and thus are likely to help in the expansion of their businesses. Some of the key companies profiled in this report, who are likely to support expansion of the global microalgae market comprise Blue Tech International GmbH, Asta Real AB, Cyanotech Corporation, Euglena Co, Ltd, EID Parry Ltd, and Fuqing King Dnarmsa Spirulina Co. Ltd.
Driven by Increased Use in Pharmaceutical Industry, North America to Lead the Market
The global microalgae market has been divided broadly into the five key territorial zones of North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. The need for territory-based segmentation lies in the importance of an in-depth analysis of the regional markets over the years of projection.
This report on the global microalgae market has been curated through observation and study of various factors that shape the regional growth. These factors are political, technological, social, environmental, and economic status of a specific region. Analysts have made thorough study of the data related to the production, revenue, and manufacturers of each of the regions.
North America is estimated to present extremely promising growth opportunities for the microalgae market in the years to come. The region is primarily influenced by the integration of technology with the extraction and harvesting of microalgae. In addition to that, there has been a significant growth in the regional pharmaceutical industry, which is now increasingly making use of microalgae. Increased use in the pharmaceutical industry is driven by its high value composition, which comprises of compounds like polyunsaturated fatty acid and polysaccharides. Increased use in the pharmaceutical industry is likely to support growth of the microalgae market in North America.
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High Nutrient Content to Drive the Demand for Microalgae in the Market
The global microalgae market is likely to be driven by the scientific and technological inventions in the field. Despite various challenges such as low demand from consumers, complex regulations of food authorities, adverse climatic conditions, the global microalgae market is estimated to work in favor of the growth of the market. In addition, dominant position of microalgae in the agricultural food industry is likely to stoke its demand in the years to come.
Microalgae are rich in carbohydrates, protein, enzymes, and fiber, which make them excellent superfood. Biomass of microalgae is extensively promoted in the form of tablets, capsules, and liquid. Microalgae are also likely to be utilized in the form of supplements or colorants in various types of snack foods, drinks, or pasta. All these factors are likely to augur well for the development of the global microalgae market in the forthcoming years.