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Microalgae, also called microphytes, are microscopic algae, typically found in freshwater and marine systems. They are unicellular species which exist individually, or in chains or groups. The biodiversity of microalgae is enormous and they represent an almost untapped resource. Most of these microalgae species produce unique products like carotenoids, antioxidants, fatty acids, enzymes, polymers, peptides, toxins and sterols.
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QYResearch According to QYResearch, The Microalgae in Europe revenue was 249.28 M USD in 2016 and is expected to reach 350.64 M USD in 2022, growing at a CAGR of 5.85 % from 2016 to 2022. The leading players in this market are DIC Corporation, Cyanotech Corporation, Algaetech Group, TAAU Australia, FUQING KING DNARMSA SPIRULINA, Shengbada Biology, Dongying Haifu Biological, DONGTAI CITY SPIRULINA BIO-ENGINEERING, Alltech and etc.
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QYResearch Currently, a major challenge affecting the market growth is the limitation of downstream market. As large demand of healthy products at home and abroad, many companies began to enter the field. Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. In the next five years, the consumption volume will keep slow increasing, as well as the consumption value.
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