Market & Feasibility Research Assistance on Algae Based Products
From EAI, a leader in renewable energy/cleantech research & consulting
Algae Based Products
Algae – a vast collection of aquatic organisms, is emerging as one of the most promising sustainable source for a variety of applications. Research and innovations in the algae field has helped it find a role in diverse applications like biofuels, pharmaceuticals, food – in nutraceuticals and other functional foods, speciality chemicals, cosmetics, animal and fish feed and more. Against this background, it is hardly surprising that the algae products market is expected to reach US$ 44.7 billion by 2023, growing at a CAGR of more than 5% between 2016 and 2023.
What makes algae a wonder feedstock for these applications? The following aspects can give you a hint:
Algae does not require agricultural land and are known to grow very fast and efficiently.
Microalgal biomass is high in protein and oil content, making it an ideal source for biofuels and animal&fish feed.
Microalgal biomass is rich in micro-nurtrients that make it an excellent candidate for the nutraceutical market. Algae based strains, rich in minerals and nutrients, have anti-aging properties and find applications in cosmetics.
Macroalgae – the large algae that can grow in sea or seawater – has a high content of antioxidants, carotenoids and phenols, making them a potential source for pharmaceuticals. In the chemicals industry, seaweed, a type of macroalgae, finds application as fertilizers. Other algae species, due to their pigment types, are used as natural colorants.
As illustrated above, the product possibilities from algae are endless.
Although currently there is significant excitement around algae, the industry is not without its challenges.
Developing algae based products into a commercial success is a challenge, mainly due to lack of awareness of its potential leading to lower than deserved demand.
Another challenge is the availability of alternatives some of them economically more attractive than algae. Algal cultivation – especially microalgae cultivation – is fairly intricate and requires specific climatic and water conditions for good yield.
Finally, at least some of the algal products need a stable and forward looking government policies and mandates to be assured of high market demand.
Thus, as with most emerging opportunities, algae-based products present a promising future but with challenges on the way. Hence, a balanced understanding of the opportunities the sector promises along with its inherent challenges is needed before investment decisions can be made.
If you are an investor or a key stakeholder keen on getting an expert market and feasibility study done for algae based products, whom can you approach?
This is where EAI’s Outsourced Research Assistance on Algae Based Products comes in.
So, if you are looking to outsource customized research on Algae Based Products, you should be talking to us.