North America Microalgae Market Revenue to Hit the US$ 670.58 Million by 2030
“ North America Microalgae Market” the new research report added in Data Bridge Market Research’s reports database. This Research Report spread across 220 No of Tables, And 60 No of Figures summarizing Top companies, with tables and figures. Insulin market report presents the best market and business solutions to Insulin industry in this rapidly revolutionizing market place to thrive in the market. This Insulin market research report is a careful investigation of current scenario of the market and future estimations which spans several market dynamics.
The North America microalgae market facing high maintenance and operating costs and technical challenges of large-scale microalgae harvesting are the major challenges for the market’s growth in the forecast years.
The North America microalgae market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.6% in the forecast period of 2023 to 2030 and is expected to reach USD 670.58 million by 2030, from USD 405.62 million in 2022.
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North America microalgae market is growing tremendously in the North America region due to increased health concerns among consumers and the rising incidence of chronic diseases. The quality of the product of microalgae depends on various factors like algal biomass, specificity of strain and good extraction method. The different forms of microalgae, including blue-green microalgae (BGA), red microalgae and brown microalgae, are used to make useful products enriched with healthy nutrients. Increasing R&D investments in microalgae production and rising demand for an alternative food source due to the increased worldwide population have driven the market’s growth. The high cost of extraction of essential components from algal biomass and the adverse impact of climatic variations on microalgae production restrain the market growth.
Market Overview:
Microalgae are microscopic algae which are also called single-celled algae. They can either live independently or in the form of colonies. These are photosynthetic micro-organisms that reside in freshwater or salty water. According to their species, they can vary in size and shape whose size ranges from micrometers to hundred micrometers. The main function of microalgae is they convert sunlight, carbon dioxide and water into algal biomass. Microalgae are used in the food, nutraceuticals, feed and cosmetic industries, as well as it is also used to make paper ink. Microalgae have been considered the most promising in biodiesel feedstock and have been known as a third-generation feedstock. Microalgae are members of the larger group of phytoplankton.
Fundamental Aim of this Market Report
- Factors influencing This Market Size and growth rate.
- Major alterations to this market in the near future.
- Notable Market rivals around the world.
- Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
Drivers
- Rising awareness among consumers about wider health benefits of microalgae products
Microalgae cultivation is done on a large scale to produce high-quality dietary products. Microalgae are exploited for their high protein content, which has fulfilled the unmet diet demand of the growing population. Along with dietary components, microalgae comprises several other bio-active components with anti-oxidative, anti-carcinogenic and anti-hypertensive properties. Microalgae have been utilized for thousands of years due to their high dietary content. As new microalgae-containing products are launching, several market players are adopting initiatives to create awareness among consumers towards their innovative brands. Increasing awareness boosts product sales, which positively impacts the microalgae market growth.
- Development of new innovation and technology for microalgae products
Microalgae growth and its content extraction are crucial processes in dilute state cultivation. Microalgae cultivation poses several challenges because of its small size. It becomes quite problematic to grow for economic purpose and to process it into biofuels. The major problems associated with microalgae production are strain selection, strain improvement, inefficient quantity of sunlight present while microalgae culturing in ponds, enhanced need of removal of large water volume to obtain concentrates. These obstacles demand the appropriate technological advancements and scientific innovation for the production of microalgae and its conversion to required products. As the market players are using technologically advanced cultural methods and innovative technologies for the production formation of microalgae, it is boosting the microalgae market growth
Recent Developments
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- In November 2022, euglena Co., Ltd revealed that regular consumption of the microalgae Euglena (also known as Euglena in Japan) reduces the severity of various symptoms and prevents the development of cold-like symptoms
- In November 2019, Algarithm launched a program to enhance awareness regarding the kappamega3 product, which comprises omega-3 DHA oil derived from microalgae. This program launch allowed the company to maintain a potential position in the microalgae market
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Some major players in this market are Euglena Co. Ltd., DIC CORPORATION, DSM, Cyanotech Corporation, Corbion, Far East Bio-Tec Co., Ltd., Earthrise Nutritionals, LLC, AstaReal Co., Ltd., BUGGYPOWER, Inner Mongolia Rejuve Biotech Co.,Ltd., Algatech LTD., AlgaEnergy S.A., Parry Nutraceuticals, Heliae Development, LLC, Algarithm, Necton S.A., and Yemoja Ltd., among others.
North America Microalgae Market Scope
Type
- Spirulina
- Chlorella
- Haematococcus Pluvialis
- Dunaliella Salina
- Isochrysis
- Phaeodactylum Tricornutum
- Chlamydomonas Cruentum
- Nannochloropsis
- Others
Based on type, the microalgae market is segmented into chlaspirulina, chlorella, haematococcus pluvialis, dunaliella salina, isochrysis, phaeodactylum tricornutum, chlamydomonas cruentum, nannochloropsis and others.
Category
- Organic
- Inorganic
Based on category, the microalgae market is segmented into organic and inorganic.
Form
- Powder/ Dry
- Liquid
Based on form, the microalgae market is segmented into powder/dry and liquid.
Grade
- Food Grade
- Cosmetic Grade
- Feed Grade
- Fuel Grade
- Others
Based on grade, the microalgae market is segmented into food grade, cosmetic grade, feed grade, fuel grade and others.
Application
- Dietary Supplements
- Cosmetics & Personal
- Food & Beverages
- Pharmaceuticals
- Animal Feed
- Bio-Fuel
- Inks
- Others
Based on application, the microalgae market is segmented into dietary supplements, cosmetics & personal, food & beverages, pharmaceuticals, animal feed, bio-fuel, inks and others.
Distribution Channel
- Direct
- Indirect
Key highlights of this Market report:
- Growth rate
- Remuneration prediction
- Consumption graph
- Market concentration ratio
- Secondary industry competitors
- Competitive structure
- Major restraints
- Market drivers
- Regional bifurcation
- Competitive hierarchy
- Current market tendencies
- Market concentration analysis
What benefits does the DBMR study is going to provide?
- Latest industry influencing trends and development scenario
- Open up New Markets
- To Seize powerful market opportunities
- Key decision in planning and to further expand market share
- Identify Key Business Segments, Market proposition & Gap Analysis
- Assisting in allocating marketing investments
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Market Regulations
- Market Overview
Continued…
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Key Benefits of the Report:
- This study presents the analytical depiction of this industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of this market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed this industry analysis based on competitive intensity and how the competition will take shape in the coming years.
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