Global Algae Products Market Nears $15 Billion by 2024 - Market Size of Pharmaceuticals & Nutraceuticals, Food & Beverages, Cosmetics, and Other Applications - ResearchAndMarkets.com
The "Global Algae Products Market By Source (Macroalgae and Microalgae), By Application (Pharmaceuticals and Nutraceuticals, Food & Beverages, Cosmetics and Others), By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
- The "Global Algae Products Market By Source (Macroalgae and Microalgae), By Application (Pharmaceuticals and Nutraceuticals, Food & Beverages, Cosmetics and Others), By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
- The global algae products market stood at $ 9.9 billion in 2018 and is projected to grow at a CAGR of over 7% during 2019-2024 to reach $ 14.99 billion by 2024, on the back of increasing use of algae products in healthy food items to produce natural nutrient supplements, thereby emerging as a promising substitute for animal based nutrition.
- Some of the other market drivers are increasing investments in algae production, growing number of mergers & acquisitions, and rising demand for alternative sources of energy such as algae-based biofuels.
- Some of the major players operating in the global algae products market are DIC Corporation, BASF SE, Koninklijke DSM N.V., Corbion N.V., Cyanotech Corporation, AlgaTechnologies Ltd., Algaetech International Sdn Bhd, Tianjin Norland Biotech Co., Ltd., Cellana, Inc. and E.I.D Parry (India) Limited.