Algae Meal Market Size
Algae Meal Market was valued at around USD 6.9 billion in 2022 and is estimated to reach USD 12 billion by the end of 2032. Increasing demand makes up of the Algal Meal market’s competitive atmosphere which drives the need for eco-friendly and nutritious substitutes in animal feeding. The increasing concern towards eco-friendly and ethical sourcing opens up an opportunity through algae-based meals that offers the necessary nourishment while addressing environmental issues and reducing dependence on traditional sources of feeds – a critical factor promoting growth in the industry.
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Restrictions to the algal meal market include high cost of production, lack of scaled commercial production models, and bureaucratic hurdles. They stifle high scale uptake of what would be potentially a nutrient rich and sustainable alternative of an animal feed.
Algae Meal Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2022 |
| Algae Meal Market Size in 2022 |
USD 6.9 Billion |
| Forecast Period |
2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR |
6.2% |
| 2032 Value Projection |
USD 12 Billion |
| Historical Data for |
2018 to 2022 |
| No. of Pages |
150 |
| Tables, Charts & Figures |
197 |
| Segments covered |
Source, Grade, Application Region |
| Growth Drivers |
- Growing Demand for Sustainable and Nutrient-Rich Animal Feed Alternatives
- Expanding Applications in Aquaculture and Poultry Industries
- Increasing Awareness of Health Benefits and Nutritional Value of Algal Meal
|
| Pitfalls & Challenges |
- High Production Costs and Technological Challenges
- Limited Scale of Commercial Production Leading to Supply Constraints
|
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COVID-19 Impact
During the COVID-19 pandemic, the algae meal industry experienced a brief slump as some suppliers had difficulties providing raw materials and buyers scaled down their orders. This has, indeed, seen recovery in the sector albeit with a renewed emphasis on sustainable and healthy food sources.
Algae Meal Market Trends
Demand surge in the algae meal industry as people opt for more plant-based protein source. The market is growing due to a rise in use as animal feed, human nutritious and sustainable products. This growing market is also being positively shaped by innovation in areas such as algae cultivation methods and product diversification.
Algae Meal Source Market Analysis
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Based on source, the red algae segment accounted for over USD 2.4 billion in 2022. This has resulted in their high demand due to their numerous nutritional properties as seen in many industries like foods, drugs, biotechnological among others which signify an ascending increase unlike that of brown algae the rest.
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Feed grade segment held a dominant market share of around 58% in 2022 and is expected to grow at a lucrative pace by 2032. The feed segment of the algae meal market has been the driving force as it continues to show impressive growth in recent times. Rising need for sustainable, nutrient enriched ingredients in food products has boosted utilization of algae meal that exhibits its significance and supremacy in market.
The livestock segment captured around 50% of the market share in 2022 and is expected to grow at a lucrative pace by 2032. The use of algae meal as a sustainable and nutrient-rich feed supplement for livestock has gained significant traction, especially in aquaculture and poultry industries, driving its prominence in the market compared to food, beverages, or nutraceuticals.
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U.S. dominated the North American region with majority market share and a revenue of USD 1.6 billion in 2022 and is anticipated to expand at a significant pace from 2023 to 2032. The US market is constantly rising and focuses strongly on sustainable consumption options. This is because it is the largest producer of algae meal being at advance in technology, leading on various algae research and producing commercially for sale. The United States is expected to hold a commanding position due to its growing consumer consciousness about its nutritive value.
Algae Meal Market Share
Some of the major market players operating in the algae meal industry are
- Corbion
- DSM Nutritional Products
- Cellana Inc.
- Corbion N.V.
- Archer Daniels Midland Company
- AlgaEnergy S.A.
- Cyanotech Corporation
- Roquette Frères
- Allmicroalgae - Natural Products S.A.
- DIC Corporation
- E.I.D. - Parry (India) Limited (Subsidiary of Murugappa Group)
- Corbion Biotech Inc.
- Guangdong Vantage Oleochemicals Tech. Co.Ltd.
- FUJIFILM Wako Pure Chemical Corporation
- BlueBioTech International GmbH
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Algae Meal Market News
- In August, 2023, ZIVO and Alimenta Algae SAC will convert its old microalgae production plant into a modern cultivation and processing center. The new version of this plant intends to manufacture up to 100 thousand kg of dried algae products per year and will begin its operation during Q2 or Q3 of 2025. Lima, Peru, claims that Alimenta Algae, a subsidiary of Grupo Alimenta, is set to make the required investments in cultivation ponds and downstream processing as per the supply agreement between ZIVO.
- In August, 2023, Da?sang has unv?il?d GoldR?lla, a nov?l product cr?at?d from Chlor?lla, a nutri?nt-d?ns? microalga? abundant in prot?in, fib?r, vitamins, min?rals, and ?ss?ntial nutri?nts such as vitamin B12. Th? company is activ?ly promoting this sup?rfood to global food manufactur?rs, ?mphasizing its nutritional b?n?fits, liv?r h?alth advantag?s, and its ability to mask off-flavors in soy.
This algae meal market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Kilo Tons from 2018 to 2032, for the following segments
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By Source
- Red Algae
- Green Algae
- Brown Algae
- Others
By Grade
By Application
- Food and Beverages
- Snacks
- Bakery & Confectionery
- Others
- Nutraceuticals
- Livestock
- Poultry
- Broiler
- Layer
- Turkey
- Others
- Swine
- Cattle
- Aquaculture
- Pet Food
- Biofuel
The above information is provided for the following regions and countries
- North America
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Poland
- Netherland
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Malaysia
- Thailand
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
