The algae products market is projected to reach a value of US$ 5.3 billion in 2023 and exceed US$ 7.3 billion by 2028, growing at a robust CAGR of 6.4% during the forecast period. As demand rises for natural and sustainable alternatives across industries such as food, pharmaceuticals, cosmetics, and biofuels, algae-based products are gaining traction. Algae serve as a renewable and environmentally friendly source of nutrients, bioactive compounds, and raw materials, appealing to eco-conscious consumers. Rich in essential nutrients—including proteins, vitamins, minerals, and omega-3 fatty acids—algae are increasingly recognized for their health benefits, such as supporting the immune system, promoting cardiovascular health, and enhancing cognitive function. This growing awareness is fueling the popularity of algae-based dietary supplements, functional foods, and nutraceuticals.
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 science-based company actively involved in the algae products market, primarily through its nutritional segment. DSM, in partnership with Veramaris (a DSM-Evonik joint venture), produces algae-derived omega-3 fatty acids used in aquaculture feed, human nutrition, and pet food. The company focuses on sustainable alternatives to fish oil, reducing reliance on marine ecosystems.
BASF SE (Germany)
BASF SE participates in the algae products market through research and development in bio-based materials and nutrition. The company has invested in microalgae research to explore bioactive compounds, particularly for cosmetics, personal care, and dietary supplements. BASF collaborates with biotech firms to harness algae as a renewable source of high-value ingredients.
Corbion (Netherlands)
Corbion is a key player in the algae-derived ingredient space, especially after acquiring TerraVia, a pioneer in algae-based food and personal care products. Corbion offers a wide range of algae-based oils, proteins, and flour under its AlgaVia and AlgaWise brands. These ingredients are marketed as sustainable, non-GMO, and vegan alternatives for food, beverage, and nutrition applications.
E.I.D Parry (India)
E.I.D Parry is one of the few Indian companies with a strong footprint in algae-based nutraceuticals. The company manufactures and exports microalgae products like spirulina and chlorella, which are widely used in dietary supplements, functional foods, and cosmetics. Its manufacturing facilities comply with international quality standards, catering to global markets.
International Flavors & Fragrances Inc (US)
IFF engages in the algae products market through its Nourish and Health & Biosciences divisions. Following its acquisition of DuPont’s Nutrition & Biosciences unit, IFF gained access to microalgae-derived proteins, lipids, and antioxidants. These ingredients are used in flavor formulations, nutritional supplements, and plant-based foods.
Cyanotech Corporation (US)
Cyanotech is a specialist in cultivating and processing microalgae, particularly spirulina and astaxanthin, on Hawaii’s Kona coast. Under the brands Nutrex Hawaii and BioAstin, the company supplies high-quality algae products used in dietary supplements and functional nutrition. Cyanotech emphasizes sustainable cultivation and closed-system production.
Earthrise Nutritionals LLC (US)
Earthrise Nutritionals, a subsidiary of Japan’s DIC Corporation, is a major spirulina producer. The company operates one of the largest spirulina farms in California and exports its products globally. Earthrise’s spirulina is used in health foods, supplements, and pet nutrition, with a strong emphasis on eco-friendly farming and product traceability.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=250538721
CP Kelco U.S. (US)
CP Kelco, a leader in hydrocolloids, has ventured into algae-based ingredients, particularly through the production of gellan gum, derived from algae fermentation. These ingredients are widely used in the food and beverage industry for texture and stability. CP Kelco supports clean-label product trends and sustainable sourcing.
Cargill, Incorporated (US)
Cargill is exploring the use of algae in multiple areas, from feed to food ingredients. The company has invested in algae-based omega-3 production for aquaculture through partnerships with firms like BASF and Calysta. Cargill also evaluates algae as a source of proteins and lipids to enhance sustainability in the food chain.
Algea (Norway)
Algea is a pioneer in marine algae harvesting and extraction in Norway. The company specializes in producing seaweed-based ingredients for agricultural, cosmetic, and nutraceutical markets. Its algae products are used in biostimulants, dietary supplements, and animal feed, focusing on natural and organic applications.