According to Stratistics MRC, the Global Algae Market is accounted for $783.11 million in 2019 and is expected to reach $1,583.46 million by 2027 growing at a CAGR of 9.2% during the forecast period. Increasing demand for algae in the plastic industry to manufacture biodegradable plastic is the major factor propelling the market growth. However, lack of coordination among the research organization and microalgae producers are hampering the market growth.
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By geography, North America is estimated to have a lucrative growth due to it invests heavily in the R&D sector for the development of new and innovative food and beverage. This is projected of fuel the demand for algae in the region.
Some of the key players profiled in the Algae Market include Affinity Energy & Health, Algae Systems LLC, Algae Tec, Corbion N.V., Algenol, Algix, Dao Energy, LLC, Diversified Energy Corporation, DSM Nutritional Products, Kai BioEnergy Corp., Kent BioEnergy Corporation., LiveFuels, Inc, Phycal LLC, Pond Biofuels Incorporated, Sapphire Energy, Inc., and Solazyme, Inc.
Cultivation Technologies Covered:
• Closed Fermenter Systems Cultivation Technology
• Closed Photo Bioreactor Cultivation Technology
• Open Pond Cultivation Technology
• Raceway Pond Cultivation Technology
Product Types Covered:
• Macroalgae
• Microalgae
Applications Covered:
• Aviation Sector
• Bioplastics
• DHA Production
• Marine Sector
• Road Transport
• Food & Beverages
• Nutraceutical
• Cosmetics
• Animal and Fish Feed
• Waste Water Treatment
• Biofuel
• Fertilizer
• Specialty Chemicals and Polymers
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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