Algae Extracts Market: By Source, By Form, By Application, and Geography

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Algae Extracts Market Size, Share, Growth, Trends, and Global Industry Analysis: By Source (Red Algae, Green Algae, Brown Algae), By Form (Liquid and Powder), By Application (Food and Beverages, Pharmaceuticals, Nutraceuticals, Personal Care, Animal Feed, and Others), and Region

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Algae Extracts Market size was valued at US$ 4,983.6 million in 2023 and is poised to grow at a 7.3% CAGR from 2024 to 2030. The algae extract is a purified extract from marine and red alga, Schizymenia pacifca, a sulfated polysaccharide comprising galactose (73%), sulfonate (20%), and 3,6-anhydrogalactose (0.65%). The growing demand for nutraceuticals to produce numerous supplements and the utilization of algae extract in cosmetic products enhance the market growth.

The rising consumption of nutritional drinks, owing to the high prevalence of lifestyle-related diseases, blue algae, along with other similar algae, are commonly used in the production of supplements used in the treatment of various disorders, such as high cholesterol and blood pressure, which drive the market growth with significant growth. The potential applications of algae enhance the demand in the market due to its therapeutic benefits, such as antivirals, antimicrobials, and antifungal drug production in the pharmaceutical industry. Furthermore, it is used as an antioxidant, which helps inhibit cancerous cell growth, creating lucrative opportunities in the market. The high cost of production from extraction to the final product hampers the market. The formulation also involves complicated process consequences, and increased production costs restrict local and global players in the algae extract market.

Algae Extracts Market Key Developments:

  • In November 2022, Merck launched new marine cosmetic ingredients during in-cosmeticsTM Asia 2022. RonaCare® JouvaMer and RonaCare® ReviMer are developed for natural skin renewal.
  • In August 2021, BASF introduced the fucoidan-rich algae extract “Seanactiv™” to refresh and revitalize the eye contour. Seanactiv™ harnesses the power of fucus vesiculosus fucoidan to limit visible signs of aging and fatigue around the eyes.
  • In June 2018, Algatechnologies (Algatech) launched Fucovital, a patented, “all-natural,” three percent fucoxanthin oleoresin produced and extracted from microalgae.

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Algae Extracts Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

7.3%

Largest Market

North America

Fastest Growing Market

Asia Pacific

Algae Extracts Market Dynamics

The increasing prevalence of vascular diseases across the world is the major market driver in the Algae Extracts Market during the forecast period. Changing lifestyle needs high-quality, nutritious food, but changes in habitat restrict the fulfillment of all nutritional value, lack of required protein, amino acid consequences risk associated with anxiety and depression along with degradation of muscle and bones. Consumers' rapid shift towards high dietary supplements accelerates the demand for algae, such as spirulina, to boost the immune system, which drives the demand in the market. Hence, this will drive the global market growth at a significant rate.

Algae Extracts Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 4,983.6 million

Market CAGR

7.3%

By Source

  • Red Algae
  • Green Algae
  • Brown Algae

By Form

  • Liquid
  • Powder

By Application

  • Food and Beverages
  • Pharmaceuticals
  • Nutraceuticals
  • Personal Care
  • Animal Feed
  • Others

Key Features of the Report

  • The algae extracts market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.

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Frequently Asked Questions

The algae extracts market size was valued at US$ 4,983.6 million in 2023, growing at a 7.3% CAGR from 2024 to 2030

The leading players in the algae extracts market are Olmix Group, Corbion NV, Kelp, Allmicroalgae, Earthrise Nutritionals LLC. (DIC Corporation), Goerlich Pharma GmbH, Cyanotech Corporation, Phycom Microalgae, Tagrow Co., Ltd, Arizona Algae Products, LLC

Historic years considered for the market study are 2019 through 2023, 2023 is considered as the base year for market estimation and Seven years forecast presented from 2024 – 2030.

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Author

Sravani

Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of expe.....

1.Executive Summary
2.Global Algae Extracts Market Introduction 
2.1.Global Algae Extracts Market  - Taxonomy
2.2.Global Algae Extracts Market  - Definitions
2.2.1. Source
2.2.2.Form
2.2.3.Application
2.2.4.Region
3.Global Algae Extracts Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Algae Extracts Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Algae Extracts Market  By  Source, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Red Algae
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Green Algae
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Brown Algae
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
6.Global Algae Extracts Market  By Form, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Liquid
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Powder
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
7.Global Algae Extracts Market  By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Food and Beverages
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Pharmaceuticals
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Nutraceuticals
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Personal Care
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Animal Feed
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
7.6. Others
7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.6.3. Market Opportunity Analysis 
8.Global Algae Extracts Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Algae Extracts Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1.  Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Red Algae
9.1.2.Green Algae
9.1.3.Brown Algae
9.2.  Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Liquid
9.2.2.Powder
9.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Food and Beverages
9.3.2.Pharmaceuticals
9.3.3.Nutraceuticals
9.3.4.Personal Care
9.3.5.Animal Feed
9.3.6.Others
9.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Algae Extracts Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1.  Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Red Algae
10.1.2.Green Algae
10.1.3.Brown Algae
10.2.  Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Liquid
10.2.2.Powder
10.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Food and Beverages
10.3.2.Pharmaceuticals
10.3.3.Nutraceuticals
10.3.4.Personal Care
10.3.5.Animal Feed
10.3.6.Others
10.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
11.Asia Pacific (APAC) Algae Extracts Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1.  Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Red Algae
11.1.2.Green Algae
11.1.3.Brown Algae
11.2.  Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Liquid
11.2.2.Powder
11.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Food and Beverages
11.3.2.Pharmaceuticals
11.3.3.Nutraceuticals
11.3.4.Personal Care
11.3.5.Animal Feed
11.3.6.Others
11.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Algae Extracts Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1.  Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Red Algae
12.1.2.Green Algae
12.1.3.Brown Algae
12.2.  Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Liquid
12.2.2.Powder
12.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Food and Beverages
12.3.2.Pharmaceuticals
12.3.3.Nutraceuticals
12.3.4.Personal Care
12.3.5.Animal Feed
12.3.6.Others
12.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Algae Extracts Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1.  Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Red Algae
13.1.2.Green Algae
13.1.3.Brown Algae
13.2.  Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Liquid
13.2.2.Powder
13.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Food and Beverages
13.3.2.Pharmaceuticals
13.3.3.Nutraceuticals
13.3.4.Personal Care
13.3.5.Animal Feed
13.3.6.Others
13.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Olmix Group
14.2.2.Corbion NV
14.2.3.Kelp
14.2.4.Allmicroalgae
14.2.5.Earthrise Nutritionals LLC. (DIC Corporation)
14.2.6.Goerlich Pharma GmbH
14.2.7.Cyanotech Corporation
14.2.8.Phycom Microalgae
14.2.9.Tagrow Co., Ltd
14.2.10.Arizona Algae Products, LLC, 
15. Research Methodology 
16. Appendix and Abbreviations 

Key Market Players

  • Olmix Group
  • Corbion NV
  • Kelp
  • Allmicroalgae
  • Earthrise Nutritionals LLC. (DIC Corporation)
  • Goerlich Pharma GmbH
  • Cyanotech Corporation
  • Phycom Microalgae
  • Tagrow Co., Ltd
  • Arizona Algae Products, LLC, 

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