Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Red Algae Market Outlook

The global red algae market is being aided by the growth of the overall algae products market, which is expected to grow at a CAGR of 4.50% in the forecast period of 2024-2032.

Global Red Algae Market

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Europe and North America to be Significant Regional Markets for Red Algae

The global red algae industry is being aided by the market growth in Europe and North America. Europe has one of the highest productions and consumptions of red algae, followed by the United States, Japan, Korea, and China. North America, meanwhile, accounts for one of the largest market shares of algae products due to the rise in health-conscious consumers owing to the rising incidences of diseases and conditions, including diabetes and high blood pressure. The high demand for plant-derived protein has also boosted the market for algae products in North America. The Asia Pacific, on the other hand, is projected to have one of the fastest growths in the global demand for algae products in the coming years. The region is expected to see growth due to an increase in population, an increase in the demand for food cultivation, an increase in health awareness, and an increase in disposable incomes.

Red Algae: Market Segmentation

Red algae or Rhodophyta is a unique type of species that is mainly found in the freshwater lakes, which are the oldest type of eukaryotic algae. It is red due to the presence of a pigment called phycoerythrin, which reflects red light and absorbs blue light. Red algae are high in vitamins, minerals, and antioxidants that are easily used by the human body. The advantages of red algae are that it encourages good circulation in the body, regulates blood sugar levels, and reduces cholesterol levels because it has a high concentration of dietary fibre. It is also a rich source of magnesium and calcium that contributes to bone health. It is also filled with antioxidants that help strengthen the immune system and nourish the skin.

Global Red Algae Market By Form

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The type of the product can be divided as follows:

  • Freshwater Red Algae
  • Marine Red Algae
  • Calcified Red Algae

The forms of the product include the following:

  • Powdered
  • Liquid

Red algae find wide applications in the following segments:

The regional markets for red algae can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Red Algae Market By Region

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Rising Awareness of the Health Benefits of the Product are Bolstering the Market Growth of Red Algae

The demand for red algae is rising steadily due to its nutritional and health benefits. Red algae are the most preferred dietary supplement for consumers pursuing weight loss diets, which is, thus, driving the demand, which is also expected to increase in the forecast period. Red algae contain a high amount of protein, fibre, and minerals due to which producers towards the product to be added as an ingredient in a variety of products. In addition, several researchers have established red algae as the largest source of vitamins in the world. It helps to strengthen the immune system by enhancing the role of the leukocytes. It also activates interferon, a protein that protects the body from viruses. Red algae have also been shown to treat urinary tract infections, asthma, skin conditions, digestive disorders, obesity, and high cholesterol levels. Due to all these health benefits, the demand for red algae is projected to rise at a higher level in the forecast period.

Key Industry Players in the Global Red Algae Market

The report gives a detailed analysis of the following key players in the global red algae market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Cargill, Incorporated
  • SIMRIS ALG AB
  • AlgaeCan Biotech Ltd.
  • Cyanotech Corporation
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

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:

  • Type
  • Form
  • Application
  • Region
Breakup by Type
  • Freshwater Red Algae
  • Marine Red Algae
  • Calcified Red Algae
Breakup by Form
  • Powdered
  • Liquid
Breakup by Application
  • Food and Beverages
  • Animal Feed
  • Pharmaceuticals
  • Cosmetics and Personal Care
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Cargill, Incorporated
  • SIMRIS ALG AB
  • AlgaeCan Biotech Ltd.
  • Cyanotech Corporation
  • Other
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market is projected to grow at a CAGR of 4.5% between 2024 and 2032.

The growth of the market is being driven by the rising population, growing disposable income, and the rising demand from the healthcare industry.

The rising awareness among consumers about the nutritional benefits of red algae and growing disposable incomes are important market trends.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading types of red algae in the market are freshwater red algae, marine red algae, and calcified red algae.

The major forms of red algae in the market are powdered and liquid.

The significant applications in the market are food and beverages, animal feed, pharmaceuticals, and cosmetics and personal care, among others.

The major players in the global red algae market are Cargill, Incorporated, SIMRIS ALG AB, AlgaeCan Biotech Ltd., and Cyanotech Corporation, among others.

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