The United States is the leading market for algae-based supplements in the North American region, with demand projected to grow at an 8.20% CAGR over the next decade. This growth is driven by increasing awareness and prioritization of health and wellness among Americans. Additionally, the rising popularity of plant-based diets is contributing to the demand for algae-based supplements, as consumers look for alternatives to traditional animal-derived sources of essential nutrients.
The algae-based supplement market is projected to grow from USD 2,365.3 million in 2024 to USD 4,804.5 million by 2034, with sales expected to increase at a CAGR of 7.3% during this period.
Key Takeaways from the Market Study
- The microalgae segment dominates the algae-based supplement market, progressing at a CAGR of 4.80% through 2034.
- On the basis of the product type, the soft gels segment leads the algae-based supplement market, expanding at a CAGR of 3.90% over the forecast period.
- The algae-based supplement market in the United States is anticipated to grow at a CAGR of 8.20% through 2034.
- The algae-based supplement market in the United Kingdom is estimated to rise at a whopping 7.10% CAGR through 2034.
- The algae-based supplement market in Japan has the potential to increase at a 5.20% CAGR through 2034.
- The Canadian algae-based supplement market is predicted to rise at a 5.90% CAGR through 2034.
- The algae-based supplement market in Germany is very likely to grow at a CAGR of 4.30% through 2034.
Competitive Landscape
The algae-based supplement market features a wide array of international and domestic companies, including Algatech, Cyanotech Corporation, Terravia (now part of Corbion), Fuqing King Dnarmsa Spirulina Co. Ltd., Allmicroalgae, and DIC Corporation. These companies are making significant investments in research and development to produce innovative and high-quality algae-based supplement formulations. Additionally, key players are adopting environmentally friendly cultivation and extraction methods to meet the growing demands of eco-conscious consumers and businesses.
Recent Developments
- In 2024, Corbion Introduced Algal Omega-3 and Omega-9 products for dietary supplements. The company announced the launch of its AlgaVia product line, marking the company’s first foray into the human nutrition market.
- In December 2023, GC Rieber VivoMega, a Norwegian fish oil manufacturer, expanded into the algae oil market, introducing a line of vegan DHA Omega-3 concentrates from marine microalgae. The company proudly announced its attainment of the International V-Label certification, validating its commitment to quality and origin transparency.
- In June 2023, Iwi Life introduced Omega-3 Minis, addressing nutritional gaps with high-quality sources of Omega-3 fatty acids. These supplements aim to support joint flexibility, cognitive focus, and a balanced inflammatory response, providing a convenient solution for individuals seeking optimal nutrition.
- In September 2023, algae processor Vinpai and organic ingredient distributor Adetis forged a partnership, expanding the market for algae-based solutions in France. Vinpai gained access to Adetis’ extensive distribution network, fostering growth in sustainable food and supplement sectors, supported by Vinpai’s recent FSCC 22000 and ISO 9001 certifications.
Key Companies in the Market
- Algatechnologies
- Cyanotech Corporation
- Corbion (formerly Terravia)
- Allmicroalgae
- DIC Corporation
- Roquette
- Parry Nutraceuticals
- Corbion
- Far East Microalgae Industries Co., Ltd.
- Terravia Holdings, Inc.
- E.I.D. – Parry (India) Limited
- Fuqing King Dnarmsa Spirulina Co. Ltd.
- Algenol Biofuels Inc.
- Cellana LLC
- Algix
- Heliae Development LLC
- Helios Nutrition
- Phycom B.V.
- TerraVia (formerly Solazyme)
- Triton Algae Innovations
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Key Market Segmentation
By Product Type:
- Tablets
- Capsules
- Soft Gel
- Powder & Granules
- Liquid
By Algae Type:
- Microalgae
- Chlorella
- Dunaliella Salina
- Spirulina
- Aphanizomenon Flos-Aquae
- Haematococcus Pluvialis
- Other Types
- Macroalgae
- Nori
- Kelp
- Bladderwrack
- Wakame
- Dulse
- Others
By Consumer Orientation:
- Men
- Women
- Unisex
- Kids
By Sales Channel:
- Store-Based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Drug Stores and Pharmacies
- Health and Wellness Stores
- Other Retailers
- Online Retailing
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
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