The algae products market is valued at USD 5.3 billion in 2023 and is expected to grow to USD 7.3 billion by 2028, reflecting a CAGR of 6.4% from 2023 to 2028. Algae products are used across a variety of industries, including food and beverages, pharmaceuticals, cosmetics, animal feed, biofuels, and wastewater treatment. Their versatility and ability to be transformed into various forms, such as powders, extracts, and oils, make algae an appealing ingredient for a wide array of products, fueling the market’s expansion.
Top 10 Companies in the Algae Products Market
- DSM (Netherlands)
- BASF SE (Germany)
- Corbion (Netherlands)
- E.I.D Parry (India)
- International Flavors & Fragrances Inc (US)
- Cynotech Corporation (US)
- Earthrise Nutritionals LLC (US)
- CP Kelco U.S. (US)
- Cargill, Incorporated (US)
- Algea (Norway)
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=250538721
DSM (Netherlands)
DSM is a global leader in health, nutrition, and materials. They have expanded into the algae products market through their sustainable and innovative approaches. DSM’s algae-derived products are primarily used in human nutrition, animal feed, and personal care. Their investment in algae-based omega-3 fatty acids, particularly sourced from Schizochytrium microalgae, positions them as a key player in the growing demand for plant-based, sustainable alternatives in the market. They aim to promote algae’s potential to provide essential nutrients, improve food security, and help meet global sustainability goals.
BASF SE (Germany)
BASF, one of the world’s largest chemical producers, has a significant presence in the algae products market. The company is involved in the production of bio-based ingredients derived from algae for a variety of industries, including agriculture, food & beverage, and personal care. BASF has developed algae-based products such as algal oils, which are used in nutrition and as sustainable alternatives to traditional omega-3 sources. Their research focuses on harnessing algae’s potential for biofuels and other renewable resources, further reinforcing BASF’s commitment to sustainable innovation.
Corbion (Netherlands)
Corbion is a leading company in the algae products sector, primarily known for its focus on sustainable, plant-based solutions. Their algae products are widely used in food, animal feed, and industrial applications. Corbion is particularly noted for its expertise in producing algae-based omega-3 fatty acids, which are essential for human nutrition and can replace fish-derived omega-3 oils. With a strong commitment to sustainability, Corbion also explores algae’s potential in bioplastics and other eco-friendly materials.
E.I.D Parry (India)
E.I.D. Parry, part of the Murugappa Group, is involved in the algae products market with an emphasis on nutritional products. The company has been making significant strides in the production of algae-based ingredients, particularly in the health and wellness sector. E.I.D. Parry is known for producing high-quality spirulina, a type of blue-green algae known for its health benefits. The company has capitalized on the rising global demand for plant-based supplements and functional foods.
International Flavors & Fragrances Inc (US)
International Flavors & Fragrances (IFF) is a global leader in the creation of flavors, fragrances, and active ingredients for a variety of markets, including the algae products sector. IFF has expanded into algae-based ingredients to support its commitment to sustainable solutions. They produce algal oils and other algae derivatives used in nutritional supplements, including omega-3 fatty acids. The company’s focus on using algae for sustainable product development aligns with growing consumer demand for plant-based and eco-friendly products.
Cynotech Corporation (US)
Cynotech Corporation specializes in the development and commercialization of algae-based nutritional products, particularly focused on producing high-quality omega-3 oils. Their products are derived from algae, offering a sustainable alternative to fish-based omega-3s. Cynotech is recognized for its advanced technology in cultivating algae for optimal nutrient extraction, contributing to the rise of plant-based solutions in the nutritional supplement market.
Earthrise Nutritionals LLC (US)
Earthrise Nutritionals is a leading producer of spirulina, a highly nutritious algae known for its health benefits. The company focuses on cultivating algae sustainably for use in dietary supplements, food, and beverages. With a long history of producing high-quality spirulina, Earthrise Nutritionals serves the growing global demand for algae-based nutritional products. Their emphasis on environmental responsibility and sustainable farming practices aligns with the increasing consumer preference for eco-friendly and plant-based solutions.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=250538721
CP Kelco U.S. Inc (US)
CP Kelco is a leading provider of natural hydrocolloids and a significant player in the algae products market. The company produces various algae-based ingredients such as carrageenan, agar, and alginate, which are used in a wide array of industries, including food, pharmaceuticals, and personal care. CP Kelco is committed to sustainability and innovation, using algae’s unique properties to develop products that enhance the texture and stability of food and beverage items while supporting sustainable sourcing practices.
Cargill, Incorporated (US)
Cargill is a global leader in the agricultural and food industries and has extended its reach into the algae products market. Cargill focuses on the production of sustainable algae-based ingredients, particularly omega-3 oils derived from microalgae. These products serve as a healthier, plant-based alternative to fish-derived omega-3s, catering to the growing demand for eco-friendly and sustainable solutions in the food and dietary supplement industries.
Algea (Norway)
Algea is a Norwegian biotechnology company that specializes in producing sustainable, algae-based products for the food and feed industries. The company focuses on developing high-quality algae-based omega-3 oils and other functional ingredients. Algae is committed to promoting the potential of algae as a sustainable and renewable resource to address global challenges such as food security and environmental sustainability. Their innovations in algae cultivation and processing have positioned them as a leader in the algae products market.