One of the most abundant and simplest types of flora is algae, which ranges from unicellular microalgae to the largest seaweeds. Algal flour is derived from algae fats, proteins, carbohydrates, and others. Spirulina, a type of blue-green algae and Chlorella, a type of green algae is majorly used in end-use industries for health-friendly products. As algal flour is a derivative product of algae, it has high amount of protein, fiber, carbohydrates, carotenoids, vitamins, and other essential minerals. Algal flour prevents cell damage, enhances immunity as well as digestive system, and increases body’s energy levels by reducing fatigues. Algal flour products help in the removal of toxic substances from the body and maintain proper functioning of kidney and liver. Algal flour products prevent certain diseases such as cancer, arthritis, atherosclerosis, as these contain fatty acids and omega-3. All these health beneficial properties of algal flour are increasing the market demand in food, beverages, pharmaceuticals, and other end-use industries.
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Increasing Health Awareness among Consumers to Drive the Demand for Algal Flour
Nowadays, increasing awareness about health and fitness among consumers is boosting the market for algal flour. As algal flour is enriched with vital vitamins and minerals, the demand for algal flour products is increasing. Algal flour products are used in the bakery industry for the production of biscuits and other products. Spirulina derived algal flour products are preferred by the astronauts, because they are enriched with Beta-carotene, which maintains healthy eyesight. Out of 22 amino acids, spirulina obtained algal flour contains about 18. Due to these nutrients NASA (National Aeronautics and Space Administration) has declared spirulina as the best source of food for astronauts.
Apart from that, the demand for algal flour is also increasing in nutraceutical industries for the production of dietary supplements as it is rich in fiber content. Due to hectic lifestyle, unbalanced food habits, and inadequate sleep, the demand for functional and balanced food is increasing these days. Algal flour products are the best option for obese population because it has fat absorption capacity. According to the WHO report, in 2016, 13% of the global population was having weight-related health issues. Algal flour products are also used in cosmetics because these have antioxidant properties, which nourish the skin and prevent skin-related problems. Another reason for increasing demand for algal flour is the increasing number of vegan population. A growing number of vegan population is boosting the market for algal flour related products. These days, customers are demanding food products, which have a high value of nutritional components to retain a healthy lifestyle. Increasing disposable income, as well as increasing urbanization, are projected to ensure growth of the market for algal flour products.
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Algal Flour Market Segmentation
The algal flour market can be segmented based on nature as:
The algal flour market can be segmented based on end use as:
- Personal Care
- Dietary Supplements
- Sports Nutrition
Algal Flour Market: Key Participants
Some of the key players participating in the global algal flour market include TerraVia Holdings, Inc., Nutress BV, Nutrex Hawaii Inc., Cyanotech Corporation, Far East Bio-Tec Co., Ltd., Earthrise Nutritionals LLC, and Rainbow Light Nutritional Systems, Inc. Apart from the above mentioned companies, many other manufacturers are showing a keen interest in algal flour , owing to its wide application in the cosmetic industry and medical industry, resulting in high demand for algal flour over the forecast period.
Algal Flour Market Opportunities
The market demand for algal flour is estimated to increase due to its significant features as it helps in fat reduction. Algal flour is an algae-derived product, so it is the best alternative for the vegan population. Due to this, the market demand for algal flour is very much high in the European, American, and African countries since they have huge vegan and obese population. According to the World Health Organization, around 13% of the global adult population was having weight-related issues in 2016. The vast youth population and growing health and fitness trends are projected to increase the demand for algal flour in the Asia Pacific region. India and China account for nearly 36% of the world’s population and are amongst the topmost three nations that have a huge youth population. The changing lifestyle and increasing income are drivers for the algal flour market.
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