Reports
Sale
North America Algae Products Market Size, Share, Growth: By Source: Brown Algae, Red Algae, Green Algae, Blue-Green Algae; By Form: Solid, Liquid; By Type: Algal Protein, Alginate, Carrageenan, Carotenoids, Lipids, Others; By Application: Personal Care, Food and Beverage, Others; Regional Analysis; Competitive Landscape; 2024-2032
North America Algae Products Market Outlook
The North America algae products market size reached approximately USD 1.63 billion in 2023. The market is projected to grow at a CAGR of 5.5% between 2024 and 2032, reaching a value of around USD 2.65 billion by 2032.
Key Takeaways
- The Department of Energy in the United States revealed funding of approximately $34 million to progress waste and algae bioenergy technology.
- Artificial cultivation of algae is expected to boost the North America algae products market growth. For instance, Pondtech relies on its industrial algae to obtain dietary supplements, protein-rich animal feed, and industrial raw materials like biofuels and cosmetics.
- Seaweed cultivation is booming in the US aquaculture sector due to its renewable energy potential, cost-effectiveness, and Native Americans' reliance on algae for sustenance and energy.
As per the North America algae products market analysis, neutraceuticals and dietary supplements are expected to lead the demand. This is because of the rise of veganism in North America, which is prompting people to switch to vegetarian/vegan options for consuming omega-3 fatty acids which help in lowering blood pressure and minimising the risk of cardiovascular diseases. People are exploring algae-based supplements as an alternative to fish oils for improving their overall health. The products manufactured by the personal care industry are expected to make increasing use of algae for thickening skin creams and lotions and brightening dark spots and blemishes on the skin. Red, blue, green, and brown algae are expected to be used as extracts in the preparation of sensitive skincare products.
Canada is expected to account for a significant North America algae products market share. As a part of its climate action strategy, Canada can leverage the 17000 km long coastline of the provinces of Labrador and Newfoundland to cultivate seaweed, particularly kelp, for industrial and commercial applications. This includes using kelp as an ingredient in manufacturing shampoos and making biofuels.
The market is anticipated to grow due to the expansion of potential applications of algae products. A notable example of this is the creation of a wax-coated water-resistant jacket made from an algae-based bioplastic by a fashion designer based in New York. This innovative jacket was recognised and awarded the prestigious 2019 Innovation by Design Awards.
Market Segmentation
North America Algae Products Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Source
- Brown Algae
- Red Algae
- Green Algae
- Blue-Green Algae
Market Breakup by Form
- Solid
- Liquid
Market Breakup by Type
- Algal Protein
- Alginate
- Carrageenan
- Carotenoids
- Lipids
- Others
Market Breakup by Application
- Personal Care
- Food and Beverage
- Nutraceuticals and Dietary Supplements
- Animal Feed
- Others
Market Breakup by Country
- United States of America
- Canada
Competitive Landscape
The market participants are concentrating on technological innovations in algae cultivation to gain a competitive advantage.
- BASF SE
- Archer-Daniels-Midland Co.
- Cyanotech Corporation
- Corbion NV
- Cellana, Inc.
- Arizona Algae Products, LLC
- Pond Technologies, Inc.
- Algenol Biotech
- Triton Algae Innovations
- Smallfood Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Source |
|
| Breakup by Form |
|
| Breakup by Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Algae Products Market Overview
8.1 Key Industry Highlights
8.2 Global Algae Products Historical Market (2018-2023)
8.3 Global Algae Products Market Forecast (2024-2032)
8.4 Global Algae Products Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Algae Products Market Overview
9.1 Key Industry Highlights
9.2 North America Algae Products Historical Market (2018-2023)
9.3 North America Algae Products Market Forecast (2024-2032)
10 North America Algae Products Market by Source
10.1 Brown Algae
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Red Algae
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Green Algae
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Blue-Green Algae
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 North America Algae Products Market by Form
11.1 Solid
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Liquid
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 North America Algae Products Market by Type
12.1 Algal Protein
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Alginate
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Carrageenan
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Carotenoids
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Lipids
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 North America Algae Products Market by Application
13.1 Personal Care
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Food and Beverage
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nutraceuticals and Dietary Supplements
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Animal Feed
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 North America Algae Products Market by Country
14.1 United States of America
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Canada
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators of Demand
15.4 Key Indicators of Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 BASF SE
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Archer-Daniels-Midland Co.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.3 Cyanotech Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Corbion NV
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Cellana, Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Arizona Algae Products, LLC
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Pond Technologies, Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Algenol Biotech
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Triton Algae Innovations
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Smallfood Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Algae Products Market: Key Industry Highlights, 2018 and 2032
2. North America Algae Products Market: Key Industry Highlights, 2018 and 2032
3. North America Algae Products Historical Market: Breakup by Source (USD Billion), 2018-2023
4. North America Algae Products Market Forecast: Breakup by Source (USD Billion), 2024-2032
5. North America Algae Products Historical Market: Breakup by Form (USD Billion), 2018-2023
6. North America Algae Products Market Forecast: Breakup by Form (USD Billion), 2024-2032
7. North America Algae Products Historical Market: Breakup by Type (USD Billion), 2018-2023
8. North America Algae Products Market Forecast: Breakup by Type (USD Billion), 2024-2032
9. North America Algae Products Historical Market: Breakup by Application (USD Billion), 2018-2023
10. North America Algae Products Market Forecast: Breakup by Application (USD Billion), 2024-2032
11. North America Algae Products Historical Market: Breakup by Country (USD Billion), 2018-2023
12. North America Algae Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
13. North America Algae Products Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1.63 billion.
The market is estimated to grow at a CAGR of 5.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 2.65 billion by 2032.
The market is being driven by the growing demand for sustainable energy resources, naturally derived protein supplements, and organic feedstock for animals.
The key trends aiding the market expansion include innovations in the fashion industry, increase in artificial cultivation of algae, and the rise of seaweed farming.
The major countries are the United States of America and Canada.
The major applications of algae products include personal care, food and beverage, nutraceuticals and dietary supplements, and animal feed, among others.
The major players in the market are BASF SE, Archer-Daniels-Midland Co., Cyanotech Corporation, Corbion NV, Cellana, Inc., Arizona Algae Products, LLC, Pond Technologies, Inc., Algenol Biotech, Triton Algae Innovations, and Smallfood Inc., among others.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER