Red Algae, even referred to as Rhodophyta, are one among the oldest group of Eukaryotic algae. The bulk of the species are found within the Florideophyceae class and made from mostly multicellular, marine algae, including seaweeds. Algae are used as a source of food for around thousand years and for treating medical ailments. They are high in vitamins, minerals, and antioxidants, which are easily utilized by the physical body. Around 5% of the algae occur within the freshwater environments alongside greater concentrations within the warmer area. These are red due to the presence of a pigment named phycoerythrin, which reflects red light and absorbs blue light.
The advantages of alga are that it promotes healthy circulation within the body, balances blood glucose levels and lowers cholesterol levels as it features a high concentration of dietary fiber. It is an upscale source of magnesium and calcium, which contribute to bone health. It is loaded with antioxidants that help boost the system and nourish skin. Algae have been proved to be the treatment of tract infections, asthma, skin diseases, stomach disorders, obesity, and high cholesterol levels. And due to of these health benefits, algae market is predicted to grow on a better scale during the forecast period.
COVID-19 Impact analysis
- The red algae market has witnessed a substantial growth during the forecast period due to the main growth in food & beverages, medical & pharmaceutical, industrial applications, cosmetics, and private care industry within the region. During the COVID-19 pandemic, this market indicated ample opportunities for the market to grow.
- Growth in demand for top quality, chemical free ingredients in personal grooming products along side increase in consumer focus toward organic and natural beauty products may foster regional product demand. Red algae is widely used in skin care products, which help keep the skin hydrated and reduce the signs of aging which is the the key driver of the market, as physical fitness and enhancement of beauty with natural ingredients witnessed a surge during pandemic.
- Red algae control body’s cholesterol, vital sign levels, and help relieve inflammation. Growth in problem of obesity among consumers due to unhealthy food habits alongside increase in demand for natural ingredients in food products and supplement has brought a surge in red algae market.
Top Impacting Factors
Within the food and beverage industry, algae are mainly used as a dietary supplement. Apart from that, it is used as an ingredient within the frozen foods, dessert gels, jams & jellies, pastry fillings, syrups, fruit juices, bakery icings, sauces & gravies, pimiento strips, cooked/instant puddings, salad dressings, and instant breakfasts.
Algae are utilized in the dairy products such as skimmed milk, whipped toppings, milk shakes, milk, cheeses, pot cheese, flans & custards, infant formulas, yogurt, and frozen dessert. Hence, it impacts dairy sectors as well.
Red algae when consumed as a form of supplement drastically improve the fat breakdown within the body, suppress appetite, and enhance body’s resting metabolism. Increased consumer focus toward health and fitness due to rise in prevalence of severe health diseases may induce regional product demand.
Surge in the Utilization Due to Medical Benefits
Red algae strengthen the metabolism and decrease the cholesterol level which reinforces the fat burning properties. Increase in popularity of algae as a serious source of nutrients alongside growth in consumer focus toward healthy lifestyle is expected to drive the red algae market growth. Growth in demand for natural dietary supplements for weight reduction and treating several health-related issues such as obesity, controlling body’s cholesterol, and vital sign levels is anticipated to accelerate the red algae market size. More than two-thirds of the adult population within some regions consumes dietary supplements, which indicate huge opportunities for the market to grow.
Within the medical and pharmaceutical industry, it is used mainly for the manufacturing of capsules, tablets, laxatives, and ulcer products. Algae within the industry are used for tertiary oil treatment, air freshener gels, enzyme immobilization, and cleaners.
Increased Demand for Natural Ingredient in Other Sectors
- In the current situation, people are more curious about natural products, which can play a crucial role in health industry and leads in the expansion of red algae market. Increase in awareness of functional foods and dietary supplements are predicted to drive the market during the forecast period. Increased awareness about different health benefits of algae as a dietary supplement and food ingredient has helped to improve major health issues. Consumption of healthy food products and dietary supplement is trending across the world.
- Red algae are used as baulking agents. Within the medical and pharmaceutical industry, it is used for the manufacture of capsules, tablets, laxatives and ulcer products. Algae within the industry are used for tertiary oil treatment, air freshener gels, enzyme immobilization, cleaners, chromatographic media, and electrophoretic media. Within the cosmetics and private care industry, alga is used to make lotions & creams, shampoos and toothpaste.
Key Benefits of the Report
- This study presents the analytical depiction of the red algae industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the red algae market share.
- The current market is quantitatively analyzed to highlight the red algae market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed red algae market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Red Algae Market Research Report
- Which are the leading players active in the red algae market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "red algae" market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the “red algae" market?
Red Algae Market Report Highlights
Key Market Players
AlgaeCan Biotech Ltd., Cyanotech Corporation, SIMRIS ALG AB, Algix, LLC., Cargill Incorporated, Algea, Alga Technologies, ATCHA LLC.