Microalgae demand in the food and beverage sector is set to grow at a 2.9% CAGR from 2021 to 2031, driven by their use in enhancing food quality and clean label appeal.
The demand for microalgae in the food and beverage sector is expected to reach a value of US$ 99,623.3 Thousand in 2021. As per Future Market Insights (FMI), the overall market value is expected to reach US$ 1, 32,531.2 Thousand by 2031, rising at a CAGR of 2.9% for 2021-31.
Use of microalgae in enhancing taste, texture, flavor, aroma, and nutritional value of food products are key factors encouraging microalgae applications in the food and beverage sector. According to a recent FMI report, the demand for microalgae in food and beverage sector will surpass a valuation of over US$ 99,623.3 Thousand in 2021, rising at a CAGR of around 3% through the end of 2031.
Microalgae products are specialized in terms of applications. This is a key factor that increases the product’s market worth. The fact that microalgae are considered clean label adds to their appeal. Due to myriad potential applications, further research is being conducted to optimize microalgae use for profitability.
Microalgae are also being used increasingly in dairy, bread, confectionery, and snacking items for flavour, texture, colour, and as a stabiliser. Because of the increased demand for microalgae, top manufacturers are seeking to expand their distribution networks to reach a larger audience.
Spirulina is found in a range of health and functional beverages. With demand from younger consumer demographics rising, spirulina juice and smoothies are launched in limited markets, indicating a huge scope of growth in the near future.
In 2016, Spira Inc., a U.S. based Biotechnology startup launched a new beverage drink made only from live Spirulina. Similarly, In March 2016, Naked Juice, a U.S. based beverage manufacturer and a subsidiary of PepsiCo, Inc. starts a juice smoothie made with Spirulina as a primary ingredient.
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Key Takeaways from the Demand for Microalgae in Food & Beverage Sector Study:
“With the increasing demand for microalgae-based goods, manufacturers are focusing on offering products at a lower cost. Various organizations have adopted integrated production models to offer cost-effective products to gain competitive edge through 2031,” said a lead analyst at FMI.
Who is Winning?
Consumers value quality and service above all. As a result, businesses are investing in research and development of distinctive and inventive high-quality product. In addition to this, they are focusing on adopting cutting-edge technology that will enable them to maintain high-quality standards.
Some of the leading companies offering microalgae in the food & beverage sector are DIC Corporation, Koninkliijke DSM NV, Roquette Frères, Fuji Chemical Industries Co., Ltd., Yunnan Green-A-Bio-engineering Co Ltd, Cyanotech Corporation, BASF-STOCKS-70dc04b4-71c7-40d6-b399-c3163c3ba8c4>BASF SE, Parry Nutraceuticals, Beijing Gingko Group, KDI Ingredients, Sinoway Industrial Co., ltd., INNOBIO Corporation Limited, Algaecan Biotech Ltd., Algatechnologies Ltd., Cardax, Inc., Igene Biotechnology, Inc., Fenchem Biotek Ltd., AstaReal Inc., Valensa International, Kunming Biogenic Co., Ltd., and Others.
Get Valuable Insights into Demand for Microalgae in Food & Beverage Sector
Future Market Insights, in its new offering, provides an unbiased analysis of the demand for microalgae in food & beverage sector presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the demand for microalgae in food & beverage sector based on species type (spirulina, chlorella, dunaliella, aphanizomenon, haematococcus, crypthecodinium, schizochytrium, euglena, nannochloropsis, nostoc, phaedactylum, and others), by source (marine water and fresh water), and by end use application (bakery & confectionery, meat, poultry, fish, & eggs, sauces, soups, & dressings, seasonings, snacks & cereal, dairy products, ice creams, food additives (ingredients), medical nutrition/ functional food/ health food, sports nutrition, energy drinks, baby food, and others) across five major regions.
Key Points Covered in Demand for Microalgae in Food and Beverage Sector Study
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Key Questions Answered in the Report
The demand for microalgae in food and beverage sector is estimated to be worth over US$ 99,623.3 Thousand by 2021.
The global demand for microalgae in food and beverage sector is forecasted to surpass US$ 1, 32,531.2 Thousand by the end of 2031.
Between 2016 and 2020, the demand for microalgae in food and beverage sector grew at a 1.6% CAGR.
DIC Corporation, Koninkliijke DSM NV, Roquette Frères, BASF-STOCKS-70dc04b4-71c7-40d6-b399-c3163c3ba8c4>BASF SE, and Parry Nutraceuticals. are leading companies, accounting for 35-40% of the global market.
The U.S., Germany, the U.K., and China are the top countries reflecting consistently high demand.
North America is a leading market which will register a 2.1% CAGR through 2031.
The demand for microalgae for the food and beverage sector of Europe is projected to grow at a 2.7% CAGR through the assessment period.
The global demand for microalgae in the food and beverage sector rose by 2.5% from 2020 to 2021.
South Korea and Japan account for 0.5% and 0.7% of the global demand for microalgae in the food and beverage sector in 2021.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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The article discusses the growing demand for microalgae in the food and beverage sector, projected to rise at a 2.9% CAGR from 2021 to 2031.
Microalgae are valued for enhancing taste, texture, and nutritional value, and are considered clean label, driving their demand in food and beverages.
The U.S. leads in North America, while China dominates the Asia Pacific market, with significant growth expected in Europe, particularly the UK.
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