Microalgae are defined as the microscopic algae which do not have roots, stem leaves and are present in marine and freshwater bodies. Microalgae are considered as unicellular species of algae that are available either individually or in groups. Microalgae are considered a rich source of protein, carbohydrates, enzymes, and others and are used across several nutritional supplements and food items. Microalgae conduct photosynthesis and form a large quantity of atmospheric oxygen and utilize carbon dioxide to grow photoautotapically.
The microalgae market has witnessed a significant growth owing to factors such as rising consciousness towards health along with the growing demand of nutritional supplements. Further, continuous research and development activities is further driving the consumption of microalgae in the recent past. However, high cost associated in the harvesting, climatic conditions and complex food regulations is projected to hamper the microalgae market growth over the projected period. Nevertheless, technological advancements is the key factor which is expected to fuel the growth of the market.
Analysis of Top Company Profiles:
· Algae.Tec Limited
· Cellana, LLC
· Cyanotech Corporation
· DIC Corporation
· E.I.D.- Parry (India) Limited
· Fuqing King Dnarmsa Spirulina Co. Ltd
· Kent Bioenergy Corporation
· Taau Australia Pty Ltd
· TerraVia Holdings, Inc.
The global microalgae market is segmented on the basis of product type, application and sales channel. On the basis of type, the microalgae market is segmented into Spirulina, Chlorella and Dunaliella. The microalgae market on the basis of the application is classified into food and feed industry, pharmaceutical, cosmetics, chemical and others. The microalgae market on the basis of the sales channel is classified into hypermarket/supermarket, retail stores and online sales.