The microalgae market is positively driven by the key products obtained from microalgae, such as dried algae
Albany, NY -- (SBWIRE) -- 06/08/2018 -- A new research study analyzing the current scenario and likely future prospects in the microalgae market has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the study, demand for microalgae is likely to grow at a steady pace during the assessment period 2017-2026. The research report titled "Global Market Study on Microalgae: North America to be Largest Market for Microalgae during 2017 to 2026" is an accurate and comprehensive source of information and analysis in the microalgae market.
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According to the research study, the microalgae market is positively driven by the key products obtained from microalgae, such as dried algae. Although high cost, climatic conditions, and complex regulations continue to pose challenges to stakeholders, the future prospects remain optimistic on account of a range of factors. The technological advancement and growing interest of research community in microalgae is likely to provide an impetus to growth during the assessment period.
The research study offers a holistic analysis on the microalgae market, offering key insights on the distribution channel in this landscape. According to the research study, hypermarket/supermarket continues to be one of the largest channels for microalgae globally. This distribution channel accounts for nearly 45% revenue share of the market. Although this distribution channel continues to be the largest, demand from online and retail stores has also grown in the recent past.
The study also offers analysis on the basis of key applications of microalgae. Some of the leading application segments in the microalgae market include food, feed, pharmaceutical, chemicals, and cosmetics. According to the report, demand for microalgae is mainly driven by high demand from food and feed industry, whereas growing applications in cosmetics and chemicals industry are also likely to fuel demand.
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Analyzing the product type scenario in the market, the report finds that spirulina and chlorella are among the leading product type segments in the market. These two product type segments are likely to account for nearly 80% revenue share of the market. The report estimates that these two product type segments will continue to remain prominent among manufacturers during the assessment period.
North America and Asia Pacific excluding Japan (APEJ) are among the leading markets for microalgae globally. These two regions are expected to hold suitable revenue share of the market during the assessment period. The demand for microalgae in North America is likely to remain concentrated in the US, whereas China and India are likely to be the key centers for microalgae in APEJ.
The leading players profiled in the research study include Cellana, LLC, Fuqing King Dnarmsa Spirulina Co. Ltd, TerraVia Holdings, Inc., Algae.Tec Limited, E.I.D.- Parry (India) Limited, Taau Australia Pty Ltd., DIC Corporation, and Cyanotech Corporation.
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