The Microalgae Market is projected to reach $3.08 billion by 2030, at a CAGR of 9.4% during the forecast period of 2023 to 2030. The growth of this market is driven by consumer inclination toward health & wellness trends and the growing dietary supplements industry, the rising demand for natural food colors, increasing vegetarianism, the growing nutraceuticals industry, and the increasing preference for microalgae-sourced products. However, low awareness regarding the benefits of microalgae and the complexities in the production of algae products are expected to restrain the growth of this market.
Top 10 Companies Operating in Microalgae Market–
Fuqing King Dnarmsa Spirulina Co., Ltd. (China)
Founded in 1995 and headquartered in Fusing, China, King Dnarmsa is engaged in the breeding, production, sales, and scientific research of algae. The company owns seven cultivation farms, an algae research institute, and an algae product deep-processing workshop. King Dnarmsa offers spirulina powder/tablets, chlorella powder/tablets, phycocyanin, and Dunaliella salina. The company is ISO9001:2015, HACCP, BRC, Kosher, Halal, NOP, and EU organic certified
With algae farms in Hainan province, the company produces 1600 tons of spirulina, 400 tons of chlorella, and 30 tons of phycocyanin per year.
Earthrise Nutritionals, LLC, (U.S.)
Founded in 1976 and headquartered in California, U.S., Earthrise produces spirulina and spirulina-based products. In 1981, Earthrise partnered with Dainippon Ink and Chemicals (Japan), a diversified product company committed to developing micro-algae for food, biochemical, and pharmaceutical applications. In 2005, Dainippon (Present DIC corporation) acquired Earthrise Nutritional. The company conducts its business in the B2C model, operating through online and in-store sales modes. Furthermore, Earthrise Nutritional’s products are used for different applications in food and beverages.
Linablue is Earthrise Nutritional’s spirulina extract product. Phycocyanin is a natural blue pigment derived from spirulina. It can be used as a natural food colorant as well as a functional food ingredient. It is an approved natural blue colorant in the U.S., Europe, and Asia. The company offers its phycocyanin products in powder and liquid forms.
E.I.D. – PARRY (INDIA) LIMITED
Founded in 1788 and headquartered in Chennai, India, E.I.D. – Parry is engaged in the manufacturing of sugar, biopesticides, and nutraceuticals. The company operates through four product segments, namely, Sugar, Cogeneration, Distillery, and Nutraceuticals. The Nutraceuticals segment provides organic spirulina, chlorella, and microalgal products.
E.I.D. offers its products to the confectionery, bakery, beverages, and dairy industries. With its subsidiaries and a strong distribution network in over 41 countries, the company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Founded in 1983 and headquartered in Kailua-Kona, U.S., Cyanotech is engaged in the cultivation and production of natural products derived from microalgae for health and human dietary supplements. The company operates through three business segments, namely, Natural Astaxanthin Products, Spirulina Products, and Contract Extraction Services. Cyanotech has microalgae cultivation ponds and offers spirulina in powder and tablet forms. The company provides its products to food, agriculture, animal feed, dietary supplement, nutraceutical, and cosmetic industries.
C.B.N. Bio-engineering Co., Ltd
Founded in 1994 and headquartered in Dongtai, China, C.B.N. is engaged in R&D, manufacturing, and selling spirulina, chlorella, phycocyanin, and haematococcus pluvialis. The company offers organic spirulina and chlorella powders. It also provides spirulina tablets and phycocyanin powder through the B2B business model.
C.B.N. has a production base of 600,000 m2. With its subsidiaries and a strong distribution network in over 30 countries, the company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Meticulous Research in its latest publication on Global Microalgae has predicted the growth of 9.4% during the forecast year 2023–2030
YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD.
Founded in 1997 and headquartered in Kunming, China, Yunnan Green is engaged in developing, breeding, producing, and marketing microalgae products. The company’s annual microalgae production capacity, comprising the production of spirulina, chlorella, and Haematococcus Pluvialis, is 3,000 metric tons. Yunnan Green offers its products in the form of powder, tablets, and extract-phycocyanin to the healthcare, medicine, cosmetics, and food industries.
Jiangshan COMP SPIRULINA CO., LTD.
Founded in 1997 and headquartered in Jiangshan, China, Jiangshan is engaged in algae cultivation, R&D, production, and selling. The company has three farms for spirulina and chlorella cultivation. Jiangshan offers spirulina in the form of powder, tablets, and phycocyanin and also provides feed-grade spirulina and phycocyanin extracts. The company’s farms have passed the organic test, and its spirulina/chlorella powder and tablets are organic certificated. Jiangshan products are provided to the food, pharmaceutical, and nutraceutical industries.
Inner Mongolia Rejuve Biotech Co., Ltd.
Founded in 2006 and headquartered in Wukan, China, Inner Mongolia Rejuve Biotech is engaged in cultivating, harvesting, and drying spirulina, chlorella, and phycocyanin. The company has an alga breeding base of 630,000 m2 and offers its products in the form of tablets and powder. The company operates through both B2B and B2C business models.
Zhejiang Binmei Biotechnology Co., Ltd.
Founded in 2013 and headquartered in Zhejiang Province, China, Zhejiang Binmei Biotechnology manufactures high-quality and reliable powder, liquid, and oil-soluble spirulina extracts (phycocyanin), Carthamus, safflower, and trehalose. The company offers its products to the food, health, cosmetics, and pharmaceutical industries.
Zhejiang Binmei Biotechnology has an independent intellectual property right about spirulina extraction. Its independent innovation and high-activity phycocyanin natural purification technology is a patented technology. Additionally, the company has obtained eight technical patents in marine biology.
Bluetec Naturals CO., LTD.
Founded in 1998 and headquartered in Inner Mongolia, China, Bluetec is a supplier of algae products. The company produces around 500 tons of spirulina annually and provides phycocyanin, chlorella, astaxanthin, and spirulina extracts. Bluetec offers its products to the food, cosmetic and pharmaceutical industries. In 2016, the company developed an innovative technology to extract phycocyanin from spirulina.
Taiwan Chlorella Manufacturing Company(TCMC) (Taiwan), Sun Chlorella Corporation (Japan), Roquette Klötze GmbH & Co. KG (Germany), Gong Bih Enterprise Co., Ltd. (Taiwan), Yaeyama Shokusan Co., Ltd. (Euglena Co Ltd) (Japan), Vedan Biotechnology Corporation (Taiwan), AlgoSource (France), Tianjin Norland Biotech CO., LTD (China), Phycom BV (Netherlands), Allmicroalgae Natural Products S.A. (Portugal), Aliga Microalgae (Denmark), Taiwan Wilson Enterprise Inc. (Taiwan), Daesang Corporation (Korea), Algalimento SL (Spain), Seagrass Tech Private Limited (India), Plankton Australia Pty Limited (Australia), Hangzhou Ouqi Food Co., Ltd. (China), and Shaanxi Rebecca Bio-Tech Co., Ltd (China).
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