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North America Microalgae Market by Type (Spirulina, Chlorella, Dunaliella Salina), Category (Organic, Inorganic), Production Technique (Ponds, PBR), Distribution Channel (B2C, B2B), Application (Nutraceuticals, Food & Beverages) - Forecast to 2030
Report ID: MRFB - 104896 Pages: 120 Jun-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 72 Hours Download Free Sample ReportThe North America Microalgae Market is slated to register a CAGR of 8.2% from 2024 to 2030 to reach $871.2 Million by 2030. In terms of volume, the North America Microalgae Market is expected to reach 51,855.3 tons by 2030, at a CAGR of 8.3% during the forecast period 2024–2030. The growth of the North America microalgae market is driven by the rising demand for natural food colors, the growth of the nutraceuticals and dietary supplements industries, the rising preference for microalgae-based products, and consumers’ inclination toward health and wellness trends. Furthermore, the growing demand for microalgae among biorefineries and the increasing use of natural astaxanthin in poultry and aquaculture feed is expected to create market growth opportunities for the stakeholders in this market. However, the complexities involved in the production of algae products are expected to hinder the growth of this market.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players in the past three to four years. Some of the key players operating in the North America microalgae market are Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Earthrise Nutritionals, LLC, (U.S.), E.I.D. - PARRY (INDIA) LIMITED (a subsidiary of M/s. Ambadi Investments Limited) (India), Cyanotech Corporation (U.S.), C.B.N. Bio-engineering Co., Ltd (China), Jiangshan COMP SPIRULINA CO., LTD. (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Zhejiang Binmei Biotechnology Co., Ltd. (China), Bluetec Naturals CO., LTD. (China), Taiwan Chlorella Manufacturing Company(TCMC) (Taiwan), Sun Chlorella Corporation (Japan), Yaeyama Shokusan Co., Ltd. (Euglena Co Ltd) (Japan), Vedan Biotechnology Corporation (Taiwan), AlgoSource (France), Allmicroalgae Natural Products S.A. (Portugal), Daesang Corporation (Korea), Algalimento SL (Spain), Seagrass Tech Private Limited (India), and Hangzhou Ouqi Food Co., Ltd. (China).
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Today, consumers are becoming more health and environmentally conscious, leading to a growing preference for naturally sourced food colorants and dyes over synthetic alternatives. Microalgae are microscopic unicellular organisms that are major photosynthesizers that efficiently convert available solar energy into chemical energy. Due to their distinct advantages over terrestrial plants, such as faster growth rates, ability to grow on nonarable land, and diversity in the production of various natural bioactive compounds (e.g., lipids, proteins, carbohydrates, and pigments), microalgae are gradually being recognized as a sustainable source to produce natural food-grade colorants.
Moreover, the increasing health consciousness and preference for environmentally friendly products drive the demand for naturally sourced food products across North America. Food manufacturers widely utilize natural food colors to enhance the appeal of processed food and beverage products. Furthermore, the FDA (Food and Drug Administration) in the U.S. has prohibited the use of artificial color additives linked to cancer in both animal and human applications. These factors contribute to the growing adoption of natural food colors in the North American market.
Spirulina's blue-green color provides bright and vivid blue and green shades, making it suitable for various confectionery and chewing gum products. The approval of phycocyanin as a natural colorant by the U.S. FDA in September 2013 has further increased its demand, particularly in North America. Phycocyanin is now widely used in various food applications, including beverages, dairy, confectionery, frosting, ice cream, dry beverage mixes, yogurt, and gelatin.
Moreover, there are concerns about the safety of using synthetic astaxanthin for direct human consumption due to its different stereochemistry and the potential carryover of synthesis intermediates. These concerns make natural astaxanthin derived from the haematococcus pluvialis microalgae a preferred choice for high-end markets. Haematococcus pluvialis has already been approved as a color additive in salmon feeds and a dietary supplement ingredient for human consumption in the U.S., Japan, and several European countries.
The FDA has granted astaxanthin derived from haematococcus pluvialis the GRAS (Generally Recognized as Safe) status, making it a high-value product in the carotenoid marketplace. It is widely used as a pigmentation source for applications in salmon, shrimp, trout, and poultry products. The increasing demand for natural food colors in North America is driving the growth of the microalgae market.
In 2024, the Spirulina Segment to Dominate the North America Microalgae Market
Based on type, the North America microalgae market is segmented into Spirulina, Chlorella, Dunaliella Salina, Haematococcus Pluvialis, Nannochloropsis, and other microalgae. In 2024, the spirulina segment is expected to account for the largest share of the North America microalgae market. The large market share of this segment is attributed to the presence of key Spirulina producers, increasing demand for Spirulina-based products, rising demand for nutraceuticals, growing use of Spirulina in the aquaculture industry, rising investments from leading color houses, and growing demand for natural food colors.
However, the Haematococcus pluvialis segment is projected to register the highest CAGR during the forecast period of 2024–2030 due to the growing use of natural astaxanthin in poultry and aquaculture, increasing demand for natural astaxanthin for nutraceuticals, increasing awareness about clean-label products, and growing demand for natural food colorants.
In 2024, the Inorganic Microalgae Segment to Dominate the North America Microalgae Market
Based on category, the North America microalgae market is segmented into inorganic microalgae and organic microalgae. In 2024, the inorganic microalgae segment is expected to account for the larger share of the North America microalgae market. The large market share of this segment is mainly attributed to the cost-effective production and high availability of microalgae grown through traditional methods.
However, the organic microalgae segment is projected to register a higher CAGR during the forecast period of 2024–2030 due to the increasing demand for certified organic products in the food industry and the growing demand for natural food colorants. Furthermore, the increasing demand for organic growth media among microalgae manufacturers is further expected to support the growth of this segment.
In 2024, the Ponds Segment to Dominate the North America Microalgae Market
Based on production technique, the North America microalgae market is segmented into ponds, photobioreactors (PBR), and fermenters. In 2024, the ponds segment is expected to account for the largest share of the North America microalgae market. The large market share of this segment is attributed to the presence of a huge number of key players following the pond cultivation of microalgae due to its cost-effectiveness and straightforward and uncomplicated production techniques compared to other production techniques. Moreover, the open ponds (raceways) require comparatively lower investment, low operational and energy costs, and have the potential to produce higher biomass volumes, which is further expected to support the growth of this market.
However, the photobioreactors (PBR) segment is projected to register the fastest CAGR during the forecast period 2024–2030 due to the growing demand for algal biomass from the nutraceuticals, pharmaceuticals, cosmetics, food and beverage, and biofuel industries. Moreover, the several benefits of the photobioreactors microalgae cultivation system, such as lower vulnerability to species contamination; higher productivity; lower harvesting cost; reduced water and carbon dioxide losses; and easier control of the cultivation conditions such as temperature and pH, are further expected to support the growth of this market in the region.
In 2024, the Business Channel Segment to Dominate the North America Microalgae Market
Based on distribution channel, the North America microalgae market is segmented into consumer channel (B2C) and business channel (B2B). In 2024, the business channel (B2B) segment is expected to account for the larger share of the North America microalgae market. The large market share of this segment can be attributed to producers from diverse industries, including animal feed, food and beverage, and nutraceuticals, directly purchasing bulk quantities of microalgae for product development and as a key ingredient in creating new products.
In 2024, the Nutraceuticals Segment to Dominate the North America Microalgae Market
Based on application, the North America microalgae market is segmented into nutraceuticals, food & beverage, cosmetics, animal feed, and other applications. In 2024, the nutraceuticals segment is expected to account for the largest share of the North America microalgae market. The large market share of this segment is mainly attributed to the growth in the nutraceuticals sector, the increasing health concerns among the aging population, the growing demand for natural alternatives to conventional pharmaceutical products, and heightened consumer awareness regarding the link between nutrition and health.
However, the food & beverages segment is projected to register the highest CAGR during the forecast period of 2024–2030 due to increasing demand for clean-label products. Moreover, the growth in the food & beverages industry and the increasing demand for microalgae-based food and beverages are expected to support the growth of this market across the region.
U.S. Dominates the North America Microalgae Market
The North America Microalgae market is segmented into the U.S. and Canada. In 2024, the U.S. is expected to account for the larger share of the North America microalgae market. Moreover, the market in the U.S. is slated to register the highest CAGR during the forecast period of 2024–2030. This market's significant market share and rapid growth are attributed to the growing demand for natural food colorants due to the country's restrictions and stringent regulations on synthetic food colorants. Additionally, the rising number of vegetarian or vegan restaurants, the increasing demand for plant-based foods, and the growing utilization of microalgae in personal care and cosmetic products contribute to the market's growth. Moreover, the increasing preference for natural protein sources and the presence of key algae biomass manufacturers with large production capacities further bolster the microalgae market in the country.
Scope of the Report:
North America Microalgae Market Assessment, by Type
North America Microalgae Market Assessment, by Category
North America Microalgae Market Assessment, by Production Technique
North America Microalgae Market Assessment, by Distribution Channel
North America Microalgae Market Assessment, by Application
North America Microalgae Market Assessment, by Country
Key Questions Answered in the Report:
Microalgae, also known as microphytes, are microscopic algae found in marine systems and freshwater. They vary in shape and size, ranging from micrometers to hundred micrometers. Microalgae convert sunlight, carbon dioxide, and water into algal biomass. They impart high nutrition and comprise high-value compounds, including pigments, fatty acids, and antioxidants, and are gaining popularity as a promising nutrient source.
This report provides detailed market insights, dynamics, and forecasts of the microalgae market segmented by type, production technique, distribution channel, application, and country.
The North America microalgae market is projected to reach $871.2 million by 2030, at a CAGR of 8.2% from 2024 to 2030.
The Spirulina segment is expected to account for the largest share of the North America microalgae market.
The nutraceuticals segment is slated to register the highest CAGR during the forecast period and provide significant opportunities for players operating in this market.
The major key players operating in the North America microalgae market are Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Earthrise Nutritionals, LLC, (U.S.), E.I.D. - PARRY (INDIA) LIMITED (a subsidiary of M/s. Ambadi Investments Limited) (India), Cyanotech Corporation (U.S.), C.B.N. Bio-engineering Co., Ltd (China), Jiangshan COMP SPIRULINA CO., LTD. (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Zhejiang Binmei Biotechnology Co., Ltd. (China), Bluetec Naturals CO., LTD. (China), Taiwan Chlorella Manufacturing Company(TCMC) (Taiwan), Sun Chlorella Corporation (Japan), Yaeyama Shokusan Co., Ltd. (Euglena Co Ltd) (Japan), Vedan Biotechnology Corporation (Taiwan), AlgoSource (France), Allmicroalgae Natural Products S.A. (Portugal), Daesang Corporation (Korea), Algalimento SL (Spain), Seagrass Tech Private Limited (India), and Hangzhou Ouqi Food Co., Ltd. (China).
The market in the U.S. is slated to register the highest CAGR during the forecast period of 2024–2030. The growth of this market is driven by the growing demand for natural food colorants due to the country's restrictions and stringent regulations on synthetic food colorants. Additionally, the rising number of vegetarian or vegan restaurants, the increasing demand for plant-based foods, and the growing utilization of microalgae in personal care and cosmetic products contribute to the market's growth. Moreover, the increasing preference for natural protein sources and the presence of key algae biomass manufacturers with large production capacities further bolster the microalgae market in the country.
1. Market Definition & Scope
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection and Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Segment Analysis
3.2.1. North America Microalgae Market, by Type
3.2.2. North America Microalgae Market, by Category
3.2.3. North America Microalgae Market, by Production Technique
3.2.4. North America Microalgae Market, by Distribution Channel
3.2.5. North America Microalgae Market, by Application
3.3. North America Microalgae Market Regional Analysis
3.4. Competitive Landscape & Market Competitors
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Increasing Demand for Natural Food Colors
4.2.1.2. Growing Nutraceuticals and Dietary Supplements Industries
4.2.1.3. Increasing Consumer Preference for Microalgae-based Products
4.2.1.4. Consumers’ Inclination Toward Health & Wellness Trends
4.2.2. Restraints
4.2.2.1. Complexities in the Production of Algae Products
4.2.3. Opportunities
4.2.3.1. Growing Demand for Microalgae Among Biorefineries
4.2.3.2. Increasing Use of Natural Astaxanthin in Poultry and Aquaculture Feed
4.2.4. Challenges
4.2.4.1. Contamination Risks
4.3. Trend
4.3.1. Adoption of New Production Technologies (Photobioreactors)
4.4. Pricing Analysis
4.5. Value Chain Analysis
4.5.1. Overview
4.5.2. Inputs/Suppliers
4.5.3. Cultivation and Processing
4.5.4. Packaging, Storage, and Logistics
4.5.5. Wholesalers and Distributors
4.5.6. Algae-based Product Formulators and Consumers
4.6. Porter’s Five Forces Analysis
4.6.1. Bargaining Power of Suppliers
4.6.2. Bargaining Power of Buyers
4.6.3. Threat of Substitutes
4.6.4. Threat of New Entrants
4.6.5. Degree of Competition
5. North America Microalgae Market Assessment—by Type
5.1. Overview
5.2. Spirulina
5.3. Chlorella
5.4. Dunaliella Salina
5.5. Haematococcus Pluvialis
5.6. Nannochloropsis
5.7. Other Microalgae
6. North America Microalgae Market Assessment—by Category
6.1. Overview
6.2. Inorganic
6.3. Organic
7. North America Microalgae Market Assessment—by Production Technique
7.1. Overview
7.2. Ponds
7.3. Fermenters
7.4. Photobioreactors (PBR)
8. North America Microalgae Market Assessment—by Distribution Channel
8.1. Overview
8.2. Business Channel (B2B)
8.3. Consumer Channel (B2C)
9. North America Microalgae Market Assessment—by Application
9.1. Overview
9.2. Nutraceuticals
9.3. Food & Beverage
9.4. Animal Feed
9.5. Cosmetics
9.6. Other Applications
10. North America Microalgae Market Assessment—by Country
10.1. Overview
10.2. U.S.
10.3. Canada
11. Competition Analysis
11.1. Overview
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
11.4. Competitive Dashboard
11.4.1. Industry Leaders
11.4.2. Market Differentiators
11.4.3. Vanguards
11.4.4. Emerging Companies
11.5. Vendor Market Positioning
12. Company Profile (Company Overview, Financial Overview, Product Portfolio, Strategic Developments)
12.1. Fuqing King Dnarmsa Spirulina Co., Ltd.
12.2. Earthrise Nutritionals, LLC
12.3. E.I.D. - Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited)
12.4. Cyanotech Corporation
12.5. C.B.N. Bio-Engineering Co., Ltd
12.6. Jiangshan COMP SPIRULINA CO., LTD.
12.7. Inner Mongolia Rejuve Biotech Co., Ltd.
12.8. Zhejiang Binmei Biotechnology Co., Ltd.
12.9. Bluetec Naturals CO., LTD.
12.10. Taiwan Chlorella Manufacturing Company (TCMC)
12.11. Sun Chlorella Corporation
12.12. Yaeyama Shokusan Co., Ltd. (Euglena Co Ltd)
12.13. Vedan Biotechnology Corporation
12.14. AlgoSource
12.15. Allmicroalgae Natural Products S.A.
12.16. Daesang Corporation
12.17. Algalimento SL
12.18. Seagrass Tech Private Limited
12.19. Hangzhou Ouqi Food Co., Ltd.
13. Appendix
13.1. Available Customization
13.2. Related Reports
List of Tables
Table 1 North America Agriculture Equipment Market: Key Stakeholders
Table 2 Limitations of Open Cultivation Systems
Table 3 A Comparative of Microalgae Cultivation Approaches
Table 4 Characteristics of the Four Promising PBRs
Table 5 Production Cost and Specific Energy Consumption for Spirulina Cultivation in Open Ponds and Photobioreactors
Table 6 Average Selling Price of Spirulina In North America, by Country, 2021–2030 (USD/Ton)
Table 7 Average Selling Price of Chlorella In North America, by Country, 2021–2030 (USD/Ton)
Table 8 Average Selling Price of Dunaliella Salina In North America, by Country, 2021–2030 (USD/Ton)
Table 9 Average Selling Price of Haematococcus Pluvialis In North America, by Country, 2021–2030 (USD/Ton)
Table 10 Average Selling Price of Nannochloropsis In North America, by Country, 2021–2030 (USD/Ton)
Table 11 Average Selling Price of Other Microalgae In North America, by Country, 2021–2030 (USD/Ton)
Table 12 North America Microalgae Market, by Type, 2021–2030 (USD Million)
Table 13 North America Microalgae Market, by Type, 2021–2030 (Tons)
Table 14 North America Spirulina Market, by Country, 2021–2030 (USD Million)
Table 15 North America Spirulina Market, by Country, 2021–2030 (Tons)
Table 16 North America Chlorella Market, by Country, 2021–2030 (USD Million)
Table 17 North America Chlorella Market, by Country, 2021–2030 (Tons)
Table 18 North America Dunaliella Salina Market, by Country, 2021–2030 (USD Million)
Table 19 North America Dunaliella Salina Market, by Country, 2021–2030 (Tons)
Table 20 North America Haematococcus Pluvialis Market, by Country, 2021–2030 (USD Million)
Table 21 North America Haematococcus Pluvialis Market, by Country, 2021–2030 (Tons)
Table 22 North America Nannochloropsis Market, by Country, 2021–2030 (USD Million)
Table 23 North America Nannochloropsis Market, by Country, 2021–2030 (Tons)
Table 24 North America Other Microalgae Market, by Country, 2021–2030 (USD Million)
Table 25 North America Other Microalgae Market, by Country, 2021–2030 (Tons)
Table 26 North America Microalgae Market, by Category, 2021–2030 (USD Million)
Table 27 North America Inorganic Microalgae Market, by Country, 2021–2030 (USD Million)
Table 28 North America Organic Microalgae Market, by Country, 2021–2030 (USD Million)
Table 29 North America Microalgae Market, by Production Technique, 2021–2030 (USD Million)
Table 30 North America Open Ponds-produced Microalgae Market, by Country, 2021–2030 (USD Million)
Table 31 North America Fermenters-produced Microalgae Market, by Country, 2021–2030 (USD Million)
Table 32 North America Photobioreactors-produced Microalgae Market, by Country, 2021–2030 (USD Million)
Table 33 North America Microalgae Market, by Distribution Channel, 2021–2030 (USD Million)
Table 34 North America Microalgae Market for Business Channel (B2B), by Country, 2021–2030 (USD Million)
Table 35 North America Microalgae Market for Consumer Channel (B2C), by Country, 2021–2030 (USD Million)
Table 36 North America Microalgae Market, by Application, 2021–2030 (USD Million)
Table 37 Protein Contains in Different Microalgae Species
Table 38 North America Microalgae Market for Nutraceuticals, by Country, 2021–2030 (USD Million)
Table 39 A Comparison of Protein Content Between Spirulina and Other Foods
Table 40 Major Strategic Developments by Market Players
Table 41 North America Microalgae Market for Food & Beverage, by Country, 2021–2030 (USD Million)
Table 42 North America Microalgae Market for Animal Feed, by Country, 2021–2030 (USD Million)
Table 43 North America Microalgae Market for Cosmetics, by Country, 2021–2030 (USD Million)
Table 44 Lipid Content and Productivity of Chlorella
Table 45 North America Microalgae Market for Other Applications, by Country, 2021–2030 (USD Million)
Table 46 Some of the Key Customers of Spirulina in North America
Table 47 North America: Microalgae Market, by Country, 2021–2030 (USD Million)
Table 48 North America: Microalgae Market, by Country, 2021–2030 (Tons)
Table 49 U.S.: Microalgae Market, by Type, 2021–2030 (USD Million)
Table 50 U.S.: Microalgae Market, by Type, 2021–2030 (Tons)
Table 51 U.S.: Microalgae Market, by Category, 2021–2030 (USD Million)
Table 52 U.S.: Microalgae Market, by Production Technique, 2021–2030 (USD Million)
Table 53 U.S.: Microalgae Market, by Distribution Channel, 2021–2030 (USD Million)
Table 54 U.S.: Microalgae Market, by Application, 2021–2030 (USD Million)
Table 55 Canada: Microalgae Market, by Type, 2021–2030 (USD Million)
Table 56 Canada: Microalgae Market, by Type, 2021–2030 (Tons)
Table 57 Canada: Microalgae Market, by Category, 2021–2030 (USD Million)
Table 58 Canada: Microalgae Market, by Production Technique, 2021–2030 (USD Million)
Table 59 Canada: Microalgae Market, by Distribution Channel, 2021–2030 (USD Million)
Table 60 Canada: Microalgae Market, by Application, 2021–2030 (USD Million)
Table 61 Number of Developments from Major Players During 2020–2024
List of Figures
Figure 1 Research Process
Figure 2 Secondary Sources Referenced for This Study
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 6 Market Sizing and Growth Forecast Approach
Figure 7 In 2024, Spirulina Segment to Dominate the North America Microalgae Market
Figure 8 Organic Segment is Projected to Register Highest CAGR During Forecast Period of 2024–2030
Figure 9 In 2024, Ponds Segment to Dominate the North America Microalgae Market
Figure 10 In 2024, Business Channel (B2B) to Dominate the North America Microalgae Market
Figure 11 In 2024, Nutraceuticals Segment to Dominate the North America Microalgae Market
Figure 12 U.S. Dominates the North America Microalgae Market
Figure 13 Factors Affecting Market Growth
Figure 14 The Nutrient Profile of Spirulina Vs. Other Foods
Figure 15 North America Microalgae Market, by Type, 2024 Vs. 2030 (USD Million)
Figure 16 North America Microalgae Market, by Type, 2024 Vs. 2030 (Tons)
Figure 17 North America Microalgae Market, by Category, 2024 Vs. 2030 (USD Million)
Figure 18 North America Microalgae Market, by Production Technique, 2024 Vs. 2030 (USD Million)
Figure 19 North America Microalgae Market, by Distribution Channel, 2024 Vs. 2030 (USD Million)
Figure 20 Business Channel for Microalgae
Figure 21 Consumer Channel for Microalgae
Figure 22 North America Microalgae Market, by Application, 2024 Vs. 2030 (USD Million)
Figure 23 North America Microalgae Market, by Country, 2024 Vs. 2030 (USD Million)
Figure 24 North America: Microalgae Market Snapshot, 2024
Figure 25 Percentage of Adults in the U.S. Taking Dietary Supplements (2022)
Figure 26 Key Growth Strategies Adopted by Leading Players (2020–2024)
Figure 27 North America Microalgae Market: Competitive Benchmarking of Key Players, by Type
Figure 28 E.I.D. - Parry (India) Limited: Financial Overview (2022)
Figure 29 Cyanotech Corporation: Financial Overview (2022)
Figure 30 Daesang Corporation: Financial Overview (2022)
Published Date: Sep-2024
Published Date: Jun-2024
Published Date: Jan-2024
Published Date: Aug-2024
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