Whole Algae Ingredients Market Outlook
Whole algae ingredients are rich in taste, with enticing texture, high nutrition and also have environmental sustainability. Due to these qualities, they are more in demand by consumers in the current scenario. Also, whole algae ingredients are completely plant-based ingredients, which also help to encounter the demand for the product by vegan population around the world. Whole algae ingredients are more trending and in demand due to innovation and product development in the market. Whole algae ingredients are not used only in the food and beverages industry but also in different industries for different purposes, such as in cosmetic and personal care, it is used for skincare products. It is also rich in essential oils such as omega 3 fatty acids, which is mainly used in pharmaceuticals. Due to these applications of whole algae ingredients in different industries, it is more in demand in the market.
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Increasing Demand for Vegan Products to Drive the Whole Algae Ingredients Market Growth
Whole algae ingredients are plant-based ingredients used in different industries for multiple purpose. Also, it is more trending in the current scenario due to the increasing vegan population around different regions. The food industry utilizes whole algae ingredients to make gluten-free and pure vegan products for the consumer. Therefore, it helps to drive the whole algae ingredients market growth in the forecasted period. Algae with antioxidant properties of algal components, anti-obesity, anti-cancer, and anti-diabetic agents will increase the demand for whole algae ingredients in the market and help to drive the market growth in the forecasted period. Algae also helps to fight growing cardiovascular health diseases in the human. Therefore, it leads to generate more demand for whole algae ingredients by manufacturers and help to drive the market growth in the coming years. There are some restraining factors for the whole algae ingredients market, such as high cost of algae extraction method, energy-intensive processing technology, which directly affects the cost of production and rise in pricing, and shift of consumers towards substitute products.
Global Whole Algae Ingredients Market Segmentation:
The global Whole algae ingredients market is segmented on the basis of application, product type and, forms-
On the basis of Application: The global whole algae ingredients market has been segmented as –
- Food and Beverages
- Animal Nutrition
- Personal care and cosmetics
On the basis of Product Type: The global whole algae ingredients market has been segmented as –
- Dried Algae
- Omega 3 Fatty Acids and PUFA
- Omega 3 Fatty Acids and PUFA
- Others (beta-carotene, astaxanthin chlorophyll, etc.)
On the basis of Form: The global whole algae ingredients market has been segmented as –
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Whole Algae Ingredients Market: Regional Analysis
The global whole algae ingredients market is majorly divided into seven regions, such as North America, Latin America, Europe, East Asia, South Asia, Middle East & Africa, and Oceania. Among all these regions, North America holds the significant market shares followed by Europe and the Asian regions. It is because of higher utilization of whole algae ingredients in particular regions in different industries such as food, pharmaceuticals, animal feed, and personal care. Also, Middle East and Africa regions are also expected to show a high growth rate in the whole algae ingredients market in the forecasted period, due to the increasing demand for plant-based ingredient from consumers.
Whole Algae Ingredients Market: Key Participants
- Archer Daniels Midland Company
- Nutrex Hawaii Inc.
- Far East Bio-Tech Co.
- Allma, Helilae Development LLC.
- Koninklijke DSM N.V.
- Cargill, Incorporated.
- E. I. du Pont de Nemours and Company.
- Corbion Biotech, Inc.
- Omega Protein Corporation
- TerraVia Holdings, Inc.
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