Stratistics MRC’s Global Algae Products Market value is expected to reach $4.41 billion growing at a CAGR of 6.8% during 2023-2030.
A class of photosynthetic organisms known as algae is used in a variety of industries for a variety of purposes. They can be found in both freshwater and marine habitats. These organisms are among the fastest-growing creatures because of their rapid rate of doubling. Algae are oxygen-exhaling, single- or multicellular microorganisms that also store vital vitamins, minerals, and nutrients while consuming carbon dioxide.
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The market for algae products in Asia-Pacific is anticipated to expand at a significant pace. Natural ingredients are in high demand due to the rapidly growing food and beverage, nutraceutical, cosmetic, and animal feed industries. The market is also anticipated to grow as a result of numerous government initiatives to promote the production and use of algae in a variety of sectors as well as the rising demand for healthy food products. Furthermore, the Indian market for algae products was expanding at the fastest rate in the Asia-Pacific region, while China’s market for algae products had the largest market share.
Some of the key players profiled in the Algae Products Market include AeroLEDs, Astronics Corporation, Aveo Engineering Group s.r.o., B/E Aerospace, Inc., Beadlight Limited, Bruce Aerospace Inc., Cobham PLC, Collins Aerospace, Diehl Stiftung & Co. KG, Heads Up Technologies, Honeywell International Inc., Luminator Technology Group, Madelec Aero, Oxley Group, Precise Flight Inc., Rockwell Collins, Inc., Safran, Soderberg Manufacturing Company, Inc., STG Aerospace Limited, United Technologies Corporation, Whelen Aerospace Technologies and Zodiac Aerospace.
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Key Developments:
In May 2023, ADM, a global leader in sustainably sourced nutrition, and Air Protein, a pioneer in air-based nutritional protein that requires no agriculture or farmland, decoupling protein production from traditional supply chain risks, announced today that they have entered into a Strategic Development Agreement to collaborate on research and development to further advance new and novel proteins for nutrition.
In March 2023, Corteva Agriscience announced the commercial launch of Adavelt™ active, with recent product registrations in three countries – Australia, Canada and South Korea. Adavelt active is a novel fungicide with a new mode of action that protects against a wide range of diseases that can impact crop yields.
In March 2023, Corteva Inc. and Bunge announced significant advancements in the development of more nutritious soybean meal for the animal feed industry, specifically suited for poultry, swine and aqua feed. The companies have a multi-year collaboration to develop and commercialize soybean varieties that can create a potential new value stream opportunity for soybean farmers while giving feed compounders a new option to reduce their use of synthetic additives, lower costs, and shrink their carbon footprint.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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