The algae-based supplement market size is expected to expand from US$ 2,365.3 million in 2024 to US$ 4,804.5 million by 2034. sales of algae-based supplements are likely to soar at a 7.3% CAGR from 2024 to 2034. Several reasons can be attributed to this growth:
Attributes | Details |
---|---|
Algae-based Supplement Market Size (2024) | US$ 2,365.3 million |
Projected Market Size (2034) | US$ 4,804.5 million |
Value-based CAGR (2024 to 2034) | 7.3% |
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The algae-based supplement market is anticipated to surpass a valuation of US$ 4804.5 million by 2034, growing at a 7.30% CAGR. While the market is expected to experience remarkable growth, several factors are expected to adversely affect its development:
Attributes | Details |
---|---|
Top Product Type | Soft Gels |
CAGR (2024 to 2034) | 3.90% |
The soft-gel segment is anticipated to thrive at a 3.9% CAGR during the projection period to reach a market valuation of US$ 1215.5 million by 2034.
Attributes | Details |
---|---|
Top Algae Type | Microalgae |
CAGR (2024 to 2034) | 4.80% |
The microalgae segment is anticipated to thrive at a 4.8% CAGR over the forecast period to reach a market valuation of US$ 3,122.9 million by 2034.
The section provides an analysis of the algae-based supplement market by country, including Japan, Canada, the United States, the United Kingdom, and Germany. The table presents the CAGRs for each country, indicating the expected growth of the market in that country through 2034.
Countries | CAGR (2024 to 2034) |
---|---|
United States | 8.2% |
United Kingdom | 7.1% |
Japan | 5.2% |
Canada | 5.9% |
Germany | 4.3% |
The United States leads the market in the North American region. Over the next ten years, the demand for algae-based supplements is projected to rise at an 8.20% CAGR.
The United Kingdom dominates the market in the European region. The United Kingdom's algae-based supplement market is anticipated to exhibit an annual growth rate of 7.10% till 2034.
Japan is the leading country from the Asian region in this market. The Japanese algae-based supplement market is anticipated to retain its dominance by progressing at an annual growth rate of 5.20% till 2034.
In the North American region, Canada, too, leads the algae-based supplement market. The Canadian market is predicted to grow at an annual growth rate of 5.9% CAGR through 2034.
Germany is another European country that leads the global market. The German algae-based supplement market is predicted to grow at an annual growth rate of 4.30% CAGR through 2034.
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The market for algae-based supplements is filled with numerous international and domestic companies, such as Algatech, Cyanotech Corporation, Terravia (now owned by Corbion), Fuqing King Dnarmsa Spirulina Co. Ltd., Allmicroalgae, and DIC Corporation, etc.
These companies are investing heavily in research and development to create novel and high-quality algae-based supplement formulations. Besides this, key players in the market are also embracing environmentally friendly cultivation and extraction methods to cater to the demands of eco-conscious consumers and businesses.
Recent Developments
The algae-based supplement market is expected to be worth US$ 2,365.3 million in 2024.
The market is expected to reach US$ 4,804.5 million by 2034.
The algae-based supplement market is growing at a CAGR of 7.3% from 2024 to 2034.
Some of the key players include Algatech, Cyanotech Corporation, Terravia (now owned by Corbion), Fuqing King Dnarmsa Spirulina Co. Ltd., Allmicroalgae, and DIC Corporation, etc.
The online retailing segment is the highly preferred sales channel when it comes to algae-based supplements.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
3. Market Dynamics
3.1. Drivers
3.1.1. Supply Side Drivers
3.1.2. Demand Side drivers
3.1.3. Economic Side Drivers
3.2. Restraints
3.3. Opportunity
3.4. Market trends by Region
3.5. Forecast Factors - Relevance & Impact
3.6. Regulations and Policies
4. Global Market - Pricing Analysis
4.1. Price Point Assessment by Region
4.1.1. Manufacturer Level Pricing
4.1.2. Distributor Level Pricing
4.2. Price Point Assessment by Product Type
4.3. Price Forecast till 2033
5. Value Chain Analysis
5.1. Operating margins at each node of supply chain
5.2. List of Active Market Participants
6. Global Market Size in Value (US$ million) and Volume (MT) Analysis 2019 to 2023 and Forecast, 2024 to 2034
6.1. Historical Market Size in Value (US$ million) and Volume (MT) Analysis, 2019 to 2023
6.2. Current and Future Market Size in Value (US$ million) and Volume (MT) Analysis, 2024 to 2034
6.2.1. Y-o-Y Growth Trend Analysis
6.2.2. Absolute $ Opportunity Analysis
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product Type
7.1. Introduction / Key Findings
7.2. Historical Market Size in Value (US$ million) and Volume (MT) Analysis by Product Type, 2019 to 2023
7.3. Current and Future Market Size in Value (US$ million) and Volume (MT) Analysis and Forecast by Product Type, 2024 to 2034
7.3.1. Tablets
7.3.2. Capsules
7.3.3. Soft Gel
7.3.4. Powder & Granules
7.3.5. Liquid
7.4. Market Attractiveness Analysis by Product Type
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Algae Type
8.1. Introduction / Key Findings
8.2. Historical Market Size in Value (US$ million) and Volume (MT) Analysis by Algae Type, 2019 to 2023
8.3. Current and Future Market Size in Value (US$ million) and Volume (MT) Analysis and Forecast by Algae Type, 2024 to 2034
8.3.1. Microalgae
8.3.1.1. Chlorella
8.3.1.2. Dunaliella Salina
8.3.1.3. Spirulina
8.3.1.4. Aphanizomenon Flos-Aquae
8.3.1.5. Haematococcus Pluvialis
8.3.1.6. Other Types
8.3.2. Macroalgae
8.3.2.1. Nori
8.3.2.2. Kelp
8.3.2.3. Bladderwrack
8.3.2.4. Wakame
8.3.2.5. Dulse
8.3.2.6. Others
8.4. Market Attractiveness Analysis by Algae Type
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Consumer Orientation
9.1. Introduction / Key Findings
9.2. Historical Market Size in Value (US$ million) and Volume (MT) Analysis by Consumer Orientation, 2019 to 2023
9.3. Current and Future Market Size in Value (US$ million) and Volume (MT) Analysis and Forecast by Consumer Orientation, 2024 to 2034
9.3.1. Men
9.3.2. Women
9.3.3. Unisex
9.3.4. Kids
9.4. Market Attractiveness Analysis by Consumer Orientation
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Sales Channel
10.1. Introduction / Key Findings
10.2. Historical Market Size in Value (US$ million) and Volume (MT) Analysis by Sales Channel, 2019 to 2023
10.3. Current and Future Market Size in Value (US$ million) and Volume (MT) Analysis and Forecast by Sales Channel, 2024 to 2034
10.3.1. Store-Based Retailing
10.3.1.1. Hypermarkets/Supermarkets
10.3.1.2. Convenience Stores
10.3.1.3. Drug Stores and Pharmacies
10.3.1.4. Health and Wellness Stores
10.3.1.5. Other Retailers
10.3.2. Online Retailing
10.4. Market Attractiveness Analysis by Sales Channel
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
11.1. Introduction
11.2. Historical Market Size in Value (US$ million) and Volume (MT) Analysis by Region, 2019 to 2023
11.3. Current Market Size in Value (US$ million) and Volume (MT) Analysis and Forecast by Region, 2024 to 2034
11.3.1. North America
11.3.2. Latin America
11.3.3. Europe
11.3.4. East Asia
11.3.5. South Asia
11.3.6. Oceania
11.3.7. Middle East & Africa
11.4. Market Attractiveness Analysis by Region
12. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
12.1. Introduction
12.2. Historical Market Size (US$ million) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023
12.3. Market Size (US$ million) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034
12.3.1. by Country
12.3.1.1. United States
12.3.1.2. Canada
12.3.2. by Product Type
12.3.3. by Algae Type
12.3.4. by Consumer Orientation
12.3.5. by Sales Channel
12.4. Market Attractiveness Analysis
12.4.1. by Country
12.4.2. by Product Type
12.4.3. by Algae Type
12.4.4. by Consumer Orientation
12.4.5. by Sales Channel
12.5. Key takeaways
13. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
13.1. Introduction
13.2. Historical Market Size (US$ million) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023
13.3. Market Size (US$ million) and Volume (MT) Forecast by Market Taxonomy, 2024 to 2034
13.3.1. by Country
13.3.1.1. Brazil
13.3.1.2. Mexico
13.3.1.3. Argentina
13.3.1.4. Rest of Latin America
13.3.2. by Product Type
13.3.3. by Algae Type
13.3.4. by Consumer Orientation
13.3.5. by Sales Channel
13.4. Market Attractiveness Analysis
13.4.1. by Country
13.4.2. by Product Type
13.4.3. by Algae Type
13.4.4. by Consumer Orientation
13.4.5. by Sales Channel
13.5. Key takeaways
14. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
14.1. Introduction
14.2. Historical Market Size (US$ million) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023
14.3. Market Size (US$ million) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034
14.3.1. by Country
14.3.1.1. Germany
14.3.1.2. United Kingdom
14.3.1.3. France
14.3.1.4. Italy
14.3.1.5. Spain
14.3.1.6. BENELUX
14.3.1.7. Nordic
14.3.1.8. Russia
14.3.1.9. Poland
14.3.1.10. Rest of Europe
14.3.2. by Product Type
14.3.3. by Algae Type
14.3.4. by Consumer Orientation
14.3.5. by Sales Channel
14.4. Market Attractiveness Analysis
14.4.1. by Country
14.4.2. by Product Type
14.4.3. by Algae Type
14.4.4. by Consumer Orientation
14.4.5. by Sales Channel
14.5. Key takeaways
15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034
15.1. Introduction
15.2. Historical Market Size (US$ million) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023
15.3. Market Size (US$ million) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034
15.3.1. by Country
15.3.1.1. China
15.3.1.2. Japan
15.3.1.3. South Korea
15.3.2. by Product Type
15.3.3. by Algae Type
15.3.4. by Consumer Orientation
15.3.5. by Sales Channel
15.4. Market Attractiveness Analysis
15.4.1. by Country
15.4.2. by Product Type
15.4.3. by Algae Type
15.4.4. by Consumer Orientation
15.4.5. by Sales Channel
15.5. Key takeaways
16. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034
16.1. Introduction
16.2. Historical Market Size (US$ million) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023
16.3. Market Size (US$ million) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034
16.3.1. by Country
16.3.1.1. India
16.3.1.2. Thailand
16.3.1.3. Malaysia
16.3.1.4. Indonesia
16.3.1.5. Vietnam
16.3.1.6. Philippines
16.3.1.7. Singapore
16.3.1.8. Rest of South Asia
16.3.2. by Product Type
16.3.3. by Algae Type
16.3.4. by Consumer Orientation
16.3.5. by Sales Channel
16.4. Market Attractiveness Analysis
16.4.1. by Country
16.4.2. by Product Type
16.4.3. by Algae Type
16.4.4. by Consumer Orientation
16.4.5. by Sales Channel
16.5. Key takeaways
17. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034
17.1. Introduction
17.2. Historical Market Size (US$ million) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023
17.3. Market Size (US$ million) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034
17.3.1. by Country
17.3.1.1. Australia
17.3.1.2. New Zealand
17.3.2. by Product Type
17.3.3. by Algae Type
17.3.4. by Consumer Orientation
17.3.5. by Sales Channel
17.4. Market Attractiveness Analysis
17.4.1. by Country
17.4.2. by Product Type
17.4.3. by Algae Type
17.4.4. by Consumer Orientation
17.4.5. by Sales Channel
17.5. Key takeaways
18. MEA Market Analysis 2019 to 2023 and Forecast 2024 to 2034
18.1. Introduction
18.2. Historical Market Size (US$ million) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023
18.3. Market Size (US$ million) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034
18.3.1. by Country
18.3.1.1. GCC Countries
18.3.1.2. Turkeye
18.3.1.3. Egypt
18.3.1.4. South Africa
18.3.1.5. Rest of MEA
18.3.2. by Product Type
18.3.3. by Algae Type
18.3.4. by Consumer Orientation
18.3.5. by Sales Channel
18.4. Market Attractiveness Analysis
18.4.1. by Country
18.4.2. by Product Type
18.4.3. by Algae Type
18.4.4. by Consumer Orientation
18.4.5. by Sales Channel
18.5. Key takeaways
19. Country-level Market Analysis, 2024
19.1. United States Market Analysis
19.1.1. by Product Type
19.1.2. by Algae Type
19.1.3. by Consumer Orientation
19.1.4. by Sales Channel
19.2. Canada Market Analysis
19.2.1. by Product Type
19.2.2. by Algae Type
19.2.3. by Consumer Orientation
19.2.4. by Sales Channel
19.3. Brazil Market Analysis
19.3.1. by Product Type
19.3.2. by Algae Type
19.3.3. by Consumer Orientation
19.3.4. by Sales Channel
19.4. Mexico Market Analysis
19.4.1. by Product Type
19.4.2. by Algae Type
19.4.3. by Consumer Orientation
19.4.4. by Sales Channel
19.5. Argentina Market Analysis
19.5.1. by Product Type
19.5.2. by Algae Type
19.5.3. by Consumer Orientation
19.5.4. by Sales Channel
19.6. Germany Market Analysis
19.6.1. by Product Type
19.6.2. by Algae Type
19.6.3. by Consumer Orientation
19.6.4. by Sales Channel
19.7. United Kingdom Market Analysis
19.7.1. by Product Type
19.7.2. by Algae Type
19.7.3. by Consumer Orientation
19.7.4. by Sales Channel
19.8. France Market Analysis
19.8.1. by Product Type
19.8.2. by Algae Type
19.8.3. by Consumer Orientation
19.8.4. by Sales Channel
19.9. Italy Market Analysis
19.9.1. by Product Type
19.9.2. by Algae Type
19.9.3. by Consumer Orientation
19.9.4. by Sales Channel
19.10. Spain Market Analysis
19.10.1. by Product Type
19.10.2. by Algae Type
19.10.3. by Consumer Orientation
19.10.4. by Sales Channel
19.11. BENELUX Market Analysis
19.11.1. by Product Type
19.11.2. by Algae Type
19.11.3. by Consumer Orientation
19.11.4. by Sales Channel
19.12. Nordic Market Analysis
19.12.1. by Product Type
19.12.2. by Algae Type
19.12.3. by Consumer Orientation
19.12.4. by Sales Channel
19.13. Russia Region Market Analysis
19.13.1. by Product Type
19.13.2. by Algae Type
19.13.3. by Consumer Orientation
19.13.4. by Sales Channel
19.14. Poland Market Analysis
19.14.1. by Product Type
19.14.2. by Algae Type
19.14.3. by Consumer Orientation
19.14.4. by Sales Channel
19.15. China Market Analysis
19.15.1. by Product Type
19.15.2. by Algae Type
19.15.3. by Consumer Orientation
19.15.4. by Sales Channel
19.16. Japan Market Analysis
19.16.1. by Product Type
19.16.2. by Algae Type
19.16.3. by Consumer Orientation
19.16.4. by Sales Channel
19.17. South Korea Market Analysis
19.17.1. by Product Type
19.17.2. by Algae Type
19.17.3. by Consumer Orientation
19.17.4. by Sales Channel
19.18. India Market Analysis
19.18.1. by Product Type
19.18.2. by Algae Type
19.18.3. by Consumer Orientation
19.18.4. by Sales Channel
19.19. Thailand Market Analysis
19.19.1. by Product Type
19.19.2. by Algae Type
19.19.3. by Consumer Orientation
19.19.4. by Sales Channel
19.20. Malaysia Market Analysis
19.20.1. by Product Type
19.20.2. by Algae Type
19.20.3. by Consumer Orientation
19.20.4. by Sales Channel
19.21. Indonesia Market Analysis
19.21.1. by Product Type
19.21.2. by Algae Type
19.21.3. by Consumer Orientation
19.21.4. by Sales Channel
19.22. Vietnam Market Analysis
19.22.1. by Product Type
19.22.2. by Algae Type
19.22.3. by Consumer Orientation
19.22.4. by Sales Channel
19.23. Philippines Market Analysis
19.23.1. by Product Type
19.23.2. by Algae Type
19.23.3. by Consumer Orientation
19.23.4. by Sales Channel
19.24. Singapore Market Analysis
19.24.1. by Product Type
19.24.2. by Algae Type
19.24.3. by Consumer Orientation
19.24.4. by Sales Channel
19.25. Australia Market Analysis
19.25.1. by Product Type
19.25.2. by Algae Type
19.25.3. by Consumer Orientation
19.25.4. by Sales Channel
19.26. New Zealand Market Analysis
19.26.1. by Product Type
19.26.2. by Algae Type
19.26.3. by Consumer Orientation
19.26.4. by Sales Channel
19.27. GCC Countries Market Analysis
19.27.1. by Product Type
19.27.2. by Algae Type
19.27.3. by Consumer Orientation
19.27.4. by Sales Channel
19.28. Turkey Market Analysis
19.28.1. by Product Type
19.28.2. by Algae Type
19.28.3. by Consumer Orientation
19.28.4. by Sales Channel
19.29. Egypt Market Analysis
19.29.1. by Product Type
19.29.2. by Algae Type
19.29.3. by Consumer Orientation
19.29.4. by Sales Channel
19.30. South Africa Market Analysis
19.30.1. by Product Type
19.30.2. by Algae Type
19.30.3. by Consumer Orientation
19.30.4. by Sales Channel
20. Market Structure Analysis
20.1. Global Market Competition - a Dashboard View
20.2. Industry Structure Analysis
20.2.1. % tier 1 market players
20.2.2. % tier 2 market players
20.2.3. % tier 3 market players
20.3. Global Market Company Share Analysis
20.3.1. For Tier 1 Market Players, 2023
20.3.2. Company Market Share Analysis of Top Players, by Region
20.4. Key Participants Market Presence (Intensity Mapping) by Region
21. Competition Analysis
21.1. Competition Dashboard
21.2. Competition Benchmarking
21.3. Competition Deep Dive
21.3.1. Now Foods
21.3.1.1. Product Portfolio
21.3.1.2. Product Claim
21.3.1.3. Revenue by Market Segments (Product/Channel/Region)
21.3.1.4. Sales Footprint
21.3.1.5. Strategy Overview
21.3.1.6. SWOT Analysis
21.3.2. Kent BioEnergy Corporation
21.3.3. TerraVia Holdings Inc.
21.3.4. Koninklijke DSM N.V.
21.3.5. Holistic Herbal Solutions LLC
21.3.6. Taau Australia Pty Ltd.
21.3.7. Algae Health Science
21.3.8. Cyanotech Corporation
21.3.9. Vitamin Discount Center
21.3.10. DIC Corporation
21.3.11. Herbal Terra LLC
21.3.12. Doctor's Best
21.3.13. Chlorella Supply Co. Ltd.
21.3.14. Pharmavite LLC
21.3.15. Nutress B.V.
21.3.16. Fuqing King Dnarmsa Spirulina Co. Ltd.
21.3.17. Others (on additional request)
22. Assumptions and Acronyms
23. Research Methodology
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