Amid the COVID-19 Pandemic, the Global Algae Market is Forecast to Reach $1.2 Billion by 2027
Dublin, Nov. 26, 2020 (GLOBE NEWSWIRE) — The “Algae - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for Algae estimated at US$782.9 Million in the year 2020, is projected to reach a revised size of US$1.2 Billion by 2027, growing at a CAGR of 6.2% over the analysis period 2020-2027. Open Pond Cultivation, one of the segments analyzed in the report, is projected to record a 6.2% CAGR and reach US$980.2 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Raceway Pond Cultivation segment is readjusted to a revised 5.6% CAGR for the next 7-year period.
The U. S. Market is Estimated at $211.9 Million, While China is Forecast to Grow at 9.4% CAGR
The Algae market in the U. S. is estimated at US$211.9 Million in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$254.9 Million by the year 2027 trailing a CAGR of 9.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 5.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
Other Cultivation Technologies Segment to Record 7.2% CAGR
In the global Other Cultivation Technologies segment, USA, Canada, Japan, China and Europe will drive the 6.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$29.7 Million in the year 2020 will reach a projected size of US$46.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$161.3 Million by the year 2027, while Latin America will expand at a 8.5% CAGR through the analysis period.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- Algix LLC
- Corbion NV
- Diversified Energy Corporation
- DSM Nutritional Products AG
- Kent BioEnergy Corporation
- Pond Technologies Inc.
- Sapphire Engineering (NE) Ltd.
- Affinity Energy & Health
- Algenol Biotech
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Global Competitor Market Shares
- Algae Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
- Impact of Covid-19 and a Looming Global Recession
- Algae: A Prelude
- Types of Algae
- Benefits & Applications of Algae
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Algae: The Most Important Organism With Ecological & Commercial Significance
- Overwhelming Scientific Evidence of the Health Benefits of Algal-Derived Food Products to Spur Commercial Opportunities in the Processed Foods End-Use Sector
- Robust Demand for Superfoods Especially Macroalgal & Microalgal Food Amidst the Consumer Health & Fitness Craze to Spur Opportunities in the Food & Beverage End-Use Sector: Global Market for Superfoods (In US$ Billion) for the Years 2017, 2019, 2022 and 2024
- Stringent Regulations for Wastewater Remediation Drives Increased Demand for Algae as a Ecofriendly Substitute for Chemicals
- The Growing Urgency of Protecting Water Resources Opens Attractive Opportunities for Algae in Wastewater Treatment: Global Market for Water & Wastewater Treatment (In US$ Million) for the Years 2017, 2019, and 2022
- New Generation Drugs Inspired by Algae Brings the Market Straight Under the Aegis of the Multi-Billion Dollar Pharmaceuticals Industry
- Robust Pharmaceuticals Industry Amid Growing Disease Burden & High Unmet Needs Drives Demand for Novel Compounds from Marine Algae for Drug Discovery and Development: Global Pharmaceutical Industry (In US$ Billion) for the Years 2017, 2019, 2022 and 2024
- Promising Pre-Commercial Success of Biofuel Production from Algae Signals Robust Opportunities in the Biofuels Market Over the Long-Term
- Robust Demand for Biofuels Amid the Aggressive Effort to Replace Fossil Fuels With Ecofriendly Fuels to Push Biofuel Applications of Biofuels Closer to Commercialization: Global Biofuels Market (In US$ Billion) for the Years 2017, 2019 and 2022
- Innovative Uses of Algae On Cards, Amid Rising Environmental Concerns & Increased Investments in Environmental Remediation
- Algae Technology Innovations Remain Vital to Application Expansion and Sustained Growth in the Market
- R&D Efforts Underway to Repurpose Wastewater Algae into Specialty Chemicals
- Research in Algae-Derived Solar Fuel Makes Interesting Progress
- Juan Algae: A Potential Candidate as a Cost Effective Feed for Aquaculture
- Biocrude From Algae to Power Automobiles of the Future
- Algae Finds its Way Into the Packaging Industry
- High Profile Research Gets Underway to Convert Algae Oils Into Carbon Fibers
- Algae in Healthcare to Receive a Boost Supported by Interesting R&D Breakthroughs
- The R&D Community Unveils Interesting Leads on Generating Bioenergy from Spirulina
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/xt67
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