Microalgae Food Market Current Trends, Issues, Challenges, Forecasts, Competition Analysis by 2023-2030
Rising health awareness among people is a chief factor driving the global microalgae food market, says Fortune Business Insights in a report, titled “Microalgae Food Market Size, Share and Global Trend by Strain (Chlorella, Spirulina, Dunaliella salina, Others), By Form (Capsules, Liquid, Tablets), By Distribution Channel (Retail Stores, Online Channels, Hypermarkets/Supermarkets, Others) and Geography Forecast till 2030.” The increasing adoption of microalgae as supplements or natural colorants in various food products is promoting the growth of the global microalgae food market.
Acquisition of Terravia by Corbion Will Encourage Market Growth
Corbion, Dutch food and biochemical company, headquartered in Amsterdam, Netherlands, confirmed the acquisition of considerably all possessions of TerraVia Holdings (“TerraVia”). An extensive and diverse platform centered on advanced food and specialty ingredients derived from microalgae. The acquisition is likely to propel growth of the microalgae food market. Moreover, the launch of all-natural algae complex by leading market players is also contributing significantly to growth in the microalgae food market revenue. For instance, Algatechnologies, a leading microalgae cultivation company based in Israeli, launched an all-natural, algae complex, called AstaPure Arava. The product can be used to produce energy bars as well as other products that can be combined with powder. This factor is likely to fuel demand among consumers which in turn will boost the global microalgae food market.
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Presence of Anti-oxidant in Microalgae Food Will Fuel Demand
Rising global population has resulted in the high demand for sustainable, and affordable nutrient-rich food to feed the growing population which in turn will add to the microalgae food shares. According to the National Center for Biotechnology Information (NCBI), by 2050, algae may account for 18% of protein sources across the more diverse world market. Spirulina and Chlorella are the two major strains of microalgae that have terrific anti-oxidant properties and thus are utilized in the production of microalgae food. Presence of enzymes, carbohydrates, fiber, vitamins and protein in microalgae is a factor contributing to microalgae food revenue. Microalgae are used as an essential food ingredient in the food & beverage industry, especially in developing nations such as Japan, China, South Korea, Indonesia, and others. Rising adoption of microalgae as supplements or natural colorants in various food products including, snack bars, pizza, drinks, and others is predicted to encourage the of microalgae food growth. In addition, increasing health awareness among people is expected to fuel demand for the consumption of dietary or health supplements made up of microalgae biomass which will, in turn, boost the global microalgae food market during the forecast period.
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Rising Acceptance of Microalgae as Food Additives Will Boost Growth in North America
Geographically, the global microalgae food market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America, followed by Europe dominates the global microalgae food market and is expected to continue leading through the forecast period, owing to rising acceptance of microalgae as food additives by food producers, along with the rising number of SME in microalgae cultivation industry. The microalgae food market in the Asia Pacific is predicted to witness high growth rate during the forecast period due to the increasing cultivation and consumption of microalgae food in Asian countries, such as China, Indonesia, and South Korea.
Some of the major companies that are present in the global microalgae food market are DIC Corporation, Taau Australia Private Limited, Cyanotech Corporation, TerraVia Holdings, Inc., Cellana, LLC., E.I.D- Parry (India) Ltd., and Fuqing King Dnarmsa Spirulina Co. Ltd.
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