Rising Levels of Carbon Emissions to Support Growth of Algae Market, North America to be Crowned as the Leading Growth Generator for Algae Market: TMR

- Rising environmental concerns including greenhouse emissions have accelerated the use of renewable sources across the globe, algae being one of them

- The rising influence of biodegradable plastics in the plastic industry and the growing influence of biofuels in road, marine, and aviation may act as growth churners for the algae market

- Existing and Future Opportunities in Algae Market

News provided by

Transparency Market Research

Jun 22, 2020, 06:30 ET

ALBANY, New York, June 22, 2020 /PRNewswire/ -- The algae market is developing gradually as numerous algae production facilities await full commercialization. The growing investment interest of established entities such as Solazyme Inc and Algae Tec are emerging as good growth generators for the algae market. Algae-based biofuels may bring exponential growth for the algae market due to properties of algae such as growth at higher efficiency levels and expanded productive levels when compared to other biomasses.

The experts at Transparency Market Research (TMR) predict the global algae market to expand at 7.42% CAGR across the forecast period of 2019-2027. The global algae market was valued at US$ 717.1 mn in 2018 and is estimated to reach US$ 1365.8 mn by 2027.

According to a TMR analyst, the algae market is seeing a substantial rise over the years with the need to switch from fossil fuels to renewable energy being the prominent reason. Furthermore, analysts opine that the worrying increase in carbon footprints of industries is increasing the demand for biofuel.

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Key Revelations of Algae Market Report

In context of technology related to algae cultivation, 80 percent of algal biomass is produced through open pond cultivation technology as they require low investment
North America led the global algae market, with the U.S. constituting more than 87 percent in 2018, and is anticipated to take the lead through the forecast period, thanks to the expansion of production facilities and efforts to eliminate the demand-supply gap
More than 50 percent of the algae produced via various cultivation technologies are used on a large scale in DHA production to manufacture chemical components for cosmetics, medicines, health foods, and food additives

Uncover 236 pages of intelligent research, current market scenario, and extensive geographical projections. Gain insights on Algae Market (Cultivation Technology: Open Ponds Cultivation Technology, Raceway Ponds Cultivation Technology, Closed Photo bioreactor Cultivation Technology, and Closed Fermenter Systems Cultivation Technology; Application: Marine Sector, Aviation Sector, Road Transport, DHA Production (Protein Sales), DHA Production (Pharmaceutical Applications), Bioplastics, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/pressrelease/algae-market.htm

Algae Market: Growth Generators and Promising Growth Aspects

The algae market has thumping growth opportunity in the form of the emerging closed photo bio-reactor technology. This technology encourages biological growth in a controlled environment.

The warning bells of rising environmental threat through carbon emissions and exhausting fossil fuel resources promotes the growth of algae-based biofuels, thus increasing the growth rate of the algae market
Stringent norms and extensive government policies on controlling emissions are further encouraging the use of biofuels
The escalating need for a ban on single-use plastics has generated great demand for biodegradable plastic production, eventually benefitting the algae market as it is one of the important components of biodegradable plastic production

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Algae Market: Assessment of Regional Landscape

Geographically, the algae market is segmented into Asia Pacific, Europe, North America, Latin America, the Middle East and Africa, and Europe. North America is predicted to invite colossal growth for the algae market through the broadening of algae production facilities. More than 135 companies related to algae cultivation are operating in the region. Therefore, this factor has the potential of creating strides across the algae market during the forecast period.

Analyze Algae Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Asia Pacific is also focusing extensively on producing biofuels as it consists of five of the top 10 emitters in the world—most notably from India, China, Japan, Indonesia, and Iran. Persistent efforts for total commercialization of biofuel production from algae are in full force, thus bringing hopes for the growth of the algae market in this region.

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The Global Algae Market is segmented on the basis of following parameters:

By Cultivation Technology

Open Pond Cultivation Technology
Raceway Pond Cultivation Technology
Closed Photo Bioreactor Cultivation Technology
Closed Fermenter Systems Cultivation Technology

By Application

Marine Sector
Aviation Sector
Road Transport
DHA Production (Protein Sales)
DHA Production (Pharmaceutical Applications)
Bioplastics
Others

By Region

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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