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Algae-based Food Additive Market Share

Report ID: GMI7622
Published Date: Dec 2023
Report Format: PDF

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Algae-based Food Additive Market Share

In the rapidly growing Asia-Pacific region, two companies stand out as leaders in the algae-based food additive industry: DSM and Cargill. These industry giants have carved a strong market share through a combination of factors, making them key players in the region's food industry.

DSM, a global life sciences company, boasts a comprehensive portfolio of algae-based ingredients tailored to the Asian market. Their offerings include carrageenan, alginates, and omega-3 fatty acids, all essential for various food applications. By focusing on research and development, DSM continuously innovates and delivers solutions that cater to the evolving needs of Asian consumers.

Cargill, a leading food and agriculture corporation, leverages its extensive network and established presence in the region to effectively distribute its algae-based food additives. Their offerings include carrageenan, alginates, and beta-carotene, crucial ingredients for diverse food products across Asia. Cargill's strong relationships with local food manufacturers and distributors ensure efficient distribution and accessibility of their products throughout the region.

Algae-based Food Additive Market Companies

Major players operating in the algae-based food additive industry include:

DSM
Cargill
DuPont
BASF
Enovix Corporation
Algatechnologies
Corbion
Cyanotech Corporation
Solazyme
TerraVia Holdings, Inc.
BlueBioTech GmbH
JRS Pharma GmbH & Co. KG
Phycom
Novozymes
Evonik Industries AG

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of algae-based food additive was worth USD 164.6 million in 2023 and is estimated to reach USD 336.1 million by 2032, owing to the increasing consumer preference for natural and sustainable ingredients.

The red algae held a majority market value of USD 72.9 million in 2023 and is expected to grow significantly through 2032.

The U.S. algae-based food additive industry was worth USD 40.8 million in 2023 and will grow significantly through 2032, owing to the strategic product penetration, innovation, and a robust consumer base.

DSM, Cargill, DuPont, BASF, Enovix Corporation, Algatechnologies, Corbion, Cyanotech Corporation, Solazyme, TerraVia Holdings, Inc., BlueBioTech GmbH, JRS Pharma GmbH & Co. KG, Phycom, Novozymes, and Evonik Industries AG.