Global Algaculture Market is driven by increasing aquaculture practices in the forecast period, 2023-2027. According to TechSci Research report, “Algaculture Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, The global algaculture market may show robust growth in the forecast years, 2023-2027 with an anticipated CAGR value. The market growth can be attributed to the factors like increasing fish production for the rising demand for fish consumption. Algae like seaweeds are actively utilized as pet feed for aquaculture &pisciculture fishes. Moreover, increasing trades nationally, and internationally of consumable fish as well as seaweeds, is also anticipated to drive the growth of the global algaculture market in the upcoming five years.
The Important Elements of the Algaculture Market
Increasing fish fleets among the fish farmers is also responsible for the growing demands of algae and thus supports market growth. Applications of the algae thus grown in various end-user industries, like algae as a main ingredient for the production of fatty acid, omega 3 is anticipated to support the growth of the global algaculture market in the next five years. Microalgae are also utilized for the extraction of oil. In the case of oil spillage in the water bodies, artificially incubated algae are grown on the spillage that consumes the oil for their reproduction and thus clears the water bodies.
Later the oil can also be extracted from the algae. Algae are also utilized in pharmaceutical production, and thus growing demands from pharmaceutical companies are driving the growth of the global algaculture market in the future five years.
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The global algaculture market segmentation is based on the type of algae, technique, application, regional distribution, and competitive landscape. Based on the type of algae, the market is divided between microalgae and macroalgae. Macroalgae is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of increasing demands for seaweeds. Being consumed as a food product, animal feed, and other utilizations of the seaweeds, are expected to support market growth along with segment domination. Microalgae are categorized as phytoplankton, microphytes, that are responsible for photosynthesis inside the water bodies, and thus create multiple chemical components like carotenoids, antioxidants, fatty acids, enzymes, polymers, peptides, toxins, and sterols.
Based on technique, the market is further fragmented into monoculture, mixed culture, serial dilution, and others. Monoculture is the single specie growth of algae colonies. Although obtaining a 100% pure colony of the algae is under suspicion. But growers conduct multiple stages of algae cultures to sustain a single type of algae, such that mass production can help in specific functions and applications. Mixed cultures of the algae are most common, as sometimes, even when cultivated in a controlled environment, some bacterial or other microbiological contaminants can still be observed.
Although various methods like serial dilution are adopted to purify such cultures. Serial cultures are a specialized method of obtaining pure cultures. A wild sample of lab-grown sample is introduced in the filtered water and successive dilution of the solution is created such that a container may contain a single cell of the desired specie. Microscopic analysis helps in identifying a pure culture, and then larger cultivation can be initiated from the pure culture.
Some of the market players, dominating the global market are :
- Marigan Holding B.V.
- Prolgae Spirulina Supplies Pvt. Ltd.
- Swedish Algae Factory Ab
- Monzon Biotech S.L.
- Algatech Ltd.
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“Asia Pacific region is anticipated to dominate the regional analysis of the global algaculture market in the upcoming five years on the account of increasing aquaculture practices in the countries like India, China, South Korea, etc. Surging demand for seaweed from south Asian countries is rapidly increasing instances and practices of algaculture and thus driving the growth of the global algaculture market in the upcoming five years. Moreover, increasing fish production and surging demand for pet food is also aiding the growth of algaculture. The rapid rate of expansion of international trade in fish and fish products over recent decades created an upsurge in aquaculture and thus enhanced the demand for healthier and organic feed for the fishes and marine life, thus aiding the growth of the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Algaculture Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Type of Algae (Microalgae v/s Macroalgae), By Technique (Monoculture, Mixed Culture, Serial Dilution, Others), By Application (Fertilizers, Feed, Food Coloring, Pharmaceuticals, Others), By Region”, has evaluated the future growth potential of global algaculture and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global algaculture market.
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