The global microalgae-based aquafeed market is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “Microalgae-based Aquafeed Market”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period. It also offers an exclusive insight into various details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
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The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other microalgae-based aquafeed market trends. The report is available for sale on the company website.
List of prominent companies that are operating in the global microalgae-based aquafeed market are:
- Cellana Inc
- Cyanotech Corporation
- Algatechnologies ltd.
- CP Kelco, and other players.
According to the Food and Agriculture Organization of the United Nations, 73% of fish oil and 70% of fish meal is consumed by the aquaculture industry. But, the production of fishmeal declined by 2.4% from 2005 to 2015. This was because of a shift in demand from aquaculture industry. Fortune Business Insights predicts that due to the expensive nature of microalgae products, growth of the market is likely to hamper. The aquafeed additives that are produced from microalgae are considered to be special products due to their high cost. Hence, prominent players from the industry are conducting various trials to increase their efficiency in order to produce cost-effective alternatives to fish oil and fish meal out of microalgae.
The global microalgae-based aquafeed market is divided into four segments, namely, by species, by aquatic animal, by cultivation technique, and by geography. In terms of species, the market is further segmented into chlorella, spirulina, tetraselmis, pavlova, isochrysis, and others. Amongst these, isochrysis, chlorella, tetraselmis, pavlova, and spirulina are the most significant species of microalgae used as aquafeed ingredients.
There has been a trend of using the spirulina species of algae in the aquaculture industry. In terms of cultivation technique, the market is divided into two segments, namely, open and closed systems. For cultivating microalgae that are used in feed applications for livestock, open systems are preferred the most.
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Regional Analysis for Microalgae-based Aquafeed Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Microalgae-based Aquafeed Market:
- Executive Summary
- Market Dynamics
- Key Microalgae-based Aquafeed Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Microalgae-based Aquafeed Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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