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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:

  • Organic
  • Conventional

The algal flour market can be segmented based on end use as:

  • Food
  • Beverages
  • Cosmetics
  • Personal Care
  • Pharmaceuticals
  • Nutraceuticals
    • 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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Algal Flour Market

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