Albany, NY -- (SBWIRE) -- 03/16/2019 -- Algae are a diverse group of aquatic organisms with photosynthesis capability. The term "algae "includes many different organisms capable of producing oxygen by photosynthesis (in order to produce carbohydrates from light energy from the sun). These organisms don't necessarily have a close connection. However, certain features combine them with the other major group of photosynthetic organisms: the land plants.
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Sustainable plants with health benefits including Omega 3, antioxidants and proteins are one of the most promising resources of sustainable crops. There has been increasing interest in nutraceuticals and pharmaceutical products for the wide range of algae species. Algae are rich and have a wide variety of pharmaceuticals and natural products.
This report gives top to bottom investigation of the global algae products market, focusing on market opportunities and possible constraints, along with the latest trends driving the market.
Global Algae Products Market: Trends and Opportunities
The global algae market is driven by factors like increased demand for pharmaceuticals and nutraceuticals algae products, increasing use of microalgae pigments by strict rules on synthetic colors and flavors, and increasing consumer preference for products made from algae. In addition, there are significant market opportunities for various stakeholders in the emergence of new areas of application, increasing use of microalgas in aquaculture and increasing utilization of algae in biofuel production.
The increased consumer preference for alternative source of protein has also led to the demand for foodstuffs for convenience and healthy drinks on the basis of algae. The use of presription drug products based on algae, like sun chlorella, microalgae, spirulina, is likely to hinder market growth in the predicted period, due to gastrointestinal, abdominal, and nausea problems. The development of commercial by-products and biofuel-based technology for production of algae is nevertheless expected to stimulate market growth.
Global Algae Products Market: Regional Outlook
Asia-Pacífico has been the largest algae market in the past because of an increase in population and increasing food demand in the region. Increase health awareness in countries such as China, India, and Japan and increase disposable income, boost nutraceutical product consumption that stimulates the growth of the market in algae products.
Global Algae Products Market: Competitive Landscape
The provision of a broad product portfolio together with a focus on a variety of end- User segments have given the global Algae Product market leadership positions. They are also geographically diversified and focused on innovations.
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Key market vendors include Cargill, DowDuPont, Algatechnologies,, Cyanotech Corporation, euglena Co., Ltd., and BIOPROCESS ALGAE, LLC.