Algaculture Market Growth Accelerated by Demand for Protein Alternatives

 

The algaculture market involves the cultivation and harvesting of microalgae and macroalgae biomass, which provides nutritional oil and protein ingredients that find applications in food and animal feed industries. Algae cultivation offers sustainable production of food and feedstock and helps address the rising demand for plant-based nutrition alternatives. The global algaculture market is estimated to be valued at US$10.7 million in 2024 and is expected to exhibit a 14% CAGR over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rising demand for sustainable food products is one of the key trends driving the growth of the algaculture market. Algae cultivation provides eco-friendly production of high-value nutritional ingredients which are utilized in plant-based foods such as meat and dairy alternatives as they offer similar protein levels. Algae biomass can be grown in open ponds or closed photobioreactors using non-arable land and seawater which makes their production process more sustainable compared to conventional crops or animal farming. The sustainable cultivation methods along with the availability of algae-based food products as viable plant-based substitutes are increasing their adoption among health-conscious consumers as well as companies striving to adopt sustainable sourcing practices. This increasing demand for sustainable food options is expected to propel the algaculture market expansion over the forecast period.

SWOT Analysis

  • Strength: Algaculture has gained increasing importance as a sustainable way to produce high-value products like nutraceuticals, cosmetics ingredients, and renewable fuels with lower environmental impact than conventional agriculture.
  • Weakness: Reliance on environmental conditions for growth, which makes production challenging to control and scale. High infrastructure and harvesting costs compared to conventional crops.
  • Opportunity: Growing demand for plant-based proteins, nutraceuticals and cosmeceuticals is driving interest in algal products. Supportive government policies in many countries aim to promote the development of bio-based industries.
  • Threats: Limited specialized algal cultivation expertise currently available. Competition for resources from other industries. Climate change effects on optimal growing conditions could threaten production stability.

Key Takeaways

The global algaculture market is expected to witness high growth over the forecast period driven by expanding application industries.

The Asia Pacific region currently dominates the market with large production capacities in China, Japan, India and other Southeast Asian countries.

Key players operating in the algaculture market are Algenol, Solazyme (TerraVia Holdings), Sapphire Energy, Cyanotech Corporation, Algae Systems, E.I.D.- Parry (India) Limited (Parry Nutraceuticals), Evonik Industries, Cargill, Incorporated, DIC Corporation (Spirulina production), Cellana. These companies are focused on scaling up production capacities and developing new algal strains and extraction technologies. Partnerships throughout the value chain will be important for sustainable market growth.

Comments

Post a Comment

Popular posts from this blog

Cellulose Gel Market Global Industry Analysis, Key Players and Forecasts 2030

Image
Cellulose Gel  Cellulose gel is a food additive that is used as a thickening, stabilizing, and emulsifying agent in a variety of processed foods. It is derived from cellulose, which is the main component of plant cell walls. Cellulose gel is made by treating cellulose with an alkali, followed by acidification and purification. The resulting product is a white, odorless, and tasteless powder that is insoluble in water. In food, cellulose gel is commonly used as a thickener and stabilizer in products such as ice cream, yogurt, salad dressings, and sauces. It can also be used as a fat replacer in some low-fat and reduced-calorie products. Cellulose gel is considered safe for consumption by regulatory agencies such as the U.S. Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA). However, some people may experience digestive issues such as bloating or gas if they consume large amounts of cellulose gel. As with any food additive, it is recommended to consume ...
Read more

Industrial Alcohol Market Overview: Emerging Opportunities and Market Expansion Strategies The Industrial Alcohol Market is estimated for 2023 - 2030 forecast period, as highlighted in a new report published by Coherent Market Insights. Market Overview: Industrial alcohol is primarily used as a solvent in manufacturing industries such as automotive, pharmaceutical, cosmetics and others. It finds major applications in cleaning products, sanitizers, and disinfectants. Market Dynamics: The industrial alcohol market is expected to witness significant growth over the forecast period, owing to rising demand from end-use industries like automotive, pharmaceuticals, cosmetics and more. Growing requirement for surface disinfectants and sanitizers due to increasing hygiene standards post-Covid is driving market growth. Additionally, escalating demand for methanol and ethanol in production of light olefins, solvents and fuel oxygenates is also fueling market expansion. The increasing use of bioethanol as automotive fuel on account of various environmental regulations is further augmenting the market growth. Industrial Alcohol Market Drivers: Rising Demand for Alcohol-based Disinfectants and Sanitizers During COVID-19 The outbreak of the COVID-19 pandemic has significantly increased the demand for alcohol-based disinfectants and sanitizers across the globe. Various government organizations and health bodies recommend using hand sanitizers containing at least 60% alcohol to help reduce the spread of novel coronavirus. As a result, the sales of alcohol-based sanitizers have surged exponentially since the start of 2020. The industrial alcohol market players have witnessed a substantial rise in orders from sanitizer formulators and manufacturers to fulfill this unprecedented demand. Moreover, with workplaces, public transportation, schools, and other commercial spaces adopting proper sanitization protocols, the demand for industrial alcohol in sanitizers is expected to remain higher than pre-pandemic levels even after the crisis is over. Increasing Adoption of Alcohol as Biofuel Rising environmental concerns and depleting crude oil reserves are encouraging governments worldwide to promote the usage of renewable biofuels. Ethanol, which is produced from biomass feedstock through fermentation and distillation processes, has emerged as one of the leading biofuels. Many countries offer incentives and tax credits to biofuel producers and blenders. For instance, the US mandates a certain percentage of biofuel to be blended with gasoline each year under the Renewable Fuel Standard program. This steadily growing demand for ethanol as a biofuel additive is positively impacting the industrial alcohol market. Leading beverage alcohol producers are expanding their distillation capacities to capitalize on this opportunity. Industrial Alcohol Market Restrain: Stringent Regulations on Alcohol Production and Trade All countries have formulated strict norms and policies governing the production, trade, distribution, and usage of alcohol to prevent illegal activities. Players in the industrial alcohol market need to obtain various licenses and permits from concerned authorities and regularly file compliance reports. Moreover, regulations on alcohol concentration limits in final products lead to wastage of high-proof or undenatured alcohol. Changes in policies also disrupt the supply chain. For example, during the initial phase of the COVID-19 outbreak, there were export restrictions on industrial alcohol and raw materials in several countries, restricting supplies. While regulations aim to curb alcohol misuse, overcompliance also adds to the operational costs for market participants. Industrial Alcohol Market Opportunity: Growing Demand for Denatured Ethanol in Pharmaceutical and Personal Care Products Denatured or undrinkable ethanol finds numerous applications as a solvent and extractant in medicines, cosmetics, detergents, and other consumer goods. It is used as an emollient, viscosity-controlling agent, and preservative in personal care formulations. In the pharmaceutical industry, ethanol acts as an antibacterial agent and solubilizer for active pharmaceutical ingredients. With rising health awareness and increasing spending on health and wellness products, the demand for various pharmaceutical and personal care products is surging globally. This rising demand offers opportunities for industrial ethanol producers to expand into new applications through product innovation and partnerships with end-user companies. Industrial Alcohol Market Trend: Focus on Renewable and Sustainable Alcohol Production Concerns around fossil fuel depletion and carbon emissions are driving the shift towards sustainable production methods. Industrial alcohol producers are investing in advanced fermentation technologies and using renewable biomass as raw materials like sugarcane molasses, corn, and wheat to produce cellulosic ethanol and bio-based chemicals. For example, some companies produce ethanol from agricultural and forestry waste through biochemical and thermochemical conversion processes. There is also a growing focus on reducing energy and water usage through process optimization. Technological advancements in the area of genetically modified yeast strains and complex sugar fermentation are further supporting green alcohol manufacturing. This emphasis on renewable resources and efficiency complements governments' push for a low-carbon economy.

Image
  The Industrial Alcohol Market is estimated for 2023 - 2030 forecast period, as highlighted in a new report published by Coherent Market Insights. Market Overview: Industrial alcohol is primarily used as a solvent in manufacturing industries such as automotive, pharmaceutical, cosmetics and others. It finds major applications in cleaning products, sanitizers, and disinfectants. Market Dynamics: The industrial alcohol market is expected to witness significant growth over the forecast period, owing to rising demand from end-use industries like automotive, pharmaceuticals, cosmetics and more. Growing requirement for surface disinfectants and sanitizers due to increasing hygiene standards post-Covid is driving market growth. Additionally, escalating demand for methanol and ethanol in production of light olefins, solvents and fuel oxygenates is also fueling market expansion. The increasing use of bioethanol as automotive fuel on account of various environmental regulations is further a...
Read more

Metal Anodizing Market: Growing Demand for Enhanced Surface Finishes

Image
  Metal anodizing is an electrochemical process that forms a protective and decorative oxide layer on the surface of metal, primarily aluminum and its alloys. The process involves immersing the metal in an electrolyte solution and applying an electric current, which stimulates the growth of an oxide layer. This layer enhances the metal's corrosion resistance, improves durability, and can also be dyed or sealed for aesthetic purposes. Metal anodizing is widely used in various industries, including automotive, aerospace, construction, electronics, and consumer goods. The  metal anodizing market  refers to the industry involved in the process of anodizing metals. Anodizing is an electrochemical process that enhances the surface properties of metals, primarily aluminum and its alloys. It creates a durable, corrosion-resistant, and aesthetically appealing surface layer on the metal. Here is some full information about the metal anodizing market: Market Overview:  Metal an...
Read more