Microalgae Market Report 2025

The microalgae market size has grown strongly in recent years. It will grow from $1.11 billion in 2024 to $1.19 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to research and development advances, environmental awareness, nutritional and health benefits, government support and policies, diversification of applications.

The microalgae market size is expected to see strong growth in the next few years. It will grow to $1.59 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to climate change mitigation, population growth and food security, bioremediation applications, market entry of startups and SMEs, international collaborations for research. Major trends in the forecast period include integration of genetic engineering techniques, utilization in wastewater treatment, market penetration in cosmetics and personal care, exploration of novel microalgae species, collaborations and partnerships in research.

The growing demand for functional foods is anticipated to drive the expansion of the microalgae market in the coming years. Functional foods are those that provide health benefits beyond basic nutrition. This demand is rising due to heightened health awareness, a growing emphasis on preventive healthcare, and consumer preferences for natural ingredients that offer specific health advantages, such as boosting immunity and enhancing heart health. Microalgae are valuable contributors to functional foods, supplying essential nutrients like omega-3 fatty acids, proteins, antioxidants, and vitamins, which enhance the overall health benefits by supporting heart health, immunity, and general well-being. For example, in August 2023, the Government of Canada reported that retail sales of health and wellness foods and beverages in India reached approximately $15.7 billion, up from $11.2 billion in 2022. Consequently, the increasing demand for functional foods is propelling the growth of the microalgae market.

The projected rise in the microalgae market is propelled by the increasing demand for plant-based protein. Microalgae like spirulina and chlorella offer sustainable protein sources, appealing to consumers shifting toward plant-based diets due to health, environmental, and ethical considerations. Their nutritional content, amino acid profiles, and adaptability in food products position them as valuable protein alternatives. For instance, the Good Food Institute noted an eight percent growth in global plant-based meat and seafood sales, reaching $6.1 billion in revenue in 2022, along with a seven percent increase in sales of plant-based milk, cheese, and yogurt, totaling $21.6 billion globally in the same year, showcasing the pivotal role of plant-based protein in driving microalgae market growth.

Technological advancements have become a prominent trend in the microalgae market. Leading companies in this sector are concentrating on innovating new technologies to maintain their competitive edge. For example, in September 2023, Corbion, a Netherlands-based food company, introduced an advanced microalgae-derived DHA product named AlgaPrime DHA. This product serves as a sustainable source of omega-3 fatty acids extracted from algae and is primarily used in aquaculture feed, especially for farm-raised salmon. This innovation not only decreases dependence on marine-sourced oils but also promotes environmental sustainability and improves the nutritional profile of food products.

Major companies in the microalgae market are prioritizing strategic investments to enhance their product offerings, broaden their market reach, and foster innovation. These strategic partnerships are crucial for driving innovation, improving production capabilities, and increasing market access. For example, in June 2024, Brevel, Ltd., an Israel-based developer of microalgae cultivation technology, launched its first commercial facility dedicated to producing microalgae protein. Spanning 27,000 square feet, this plant aims to provide hundreds of tons of microalgae protein powder to the alternative protein market. The facility utilizes a unique production method that combines light and fermentation to achieve high yields of nutritious microalgae, meeting the growing demand for plant-based proteins in food applications.

In September 2022, Aliga Microalgae, a Danish food-tech firm, completed the acquisition of Duplaco B.V., a chlorella microalgae production company based in the Netherlands, for an undisclosed sum. This strategic move positions Aliga to drive innovation within the food ingredients sector and significantly scale up its manufacturing capacity for chlorella algae products.

Major companies operating in the microalgae market are Cyanotech Corporation, Algatech, Cellana, Brevel, Checkerspot, microTERRA, Industrial Phycology, Ittinsect, Provectus Algae, Phycom, Viridos, ALGAMA, Arborea, Kuehnle AgroSystems, Inc., ALGBIO, Revyve, MiAlgae, Algenol Biofuels, AquaBioTech Group, Algaeventure Systems, Algae Floating Systems, Inc., Algae Biosciences Corporation, AlgaeLink N.V., Blue Marble Energy, Solazyme, Inc., Sapphire Energy, Heliae Development LLC, Seambiotic, Algorhythm, EcoPRT, and Algal Scientific.

North America was the largest region in the microalgae market share in 2024. The regions covered in the microalgae market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the microalgae market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Microalgae, comprised of individual specialized single cells utilizing chromophores for energy, represent small eukaryotic organisms. They fall under the category of unicellular algae, distinguished by their single-cell composition.

The primary varieties of microalgae include spirulina, chlorella, dunaliella salina, haematococcus pluvialis, among others. Spirulina, a form of blue-green algae, thrives in warm, alkaline freshwater environments. Their distribution involves business and consumer channels, finding applications in diverse sectors such as food and beverage, dietary supplements, pharmaceuticals, cosmetics, bio-fuel, inks, animal feed, and more.

The microalgae market research report is one of a series of new reports that provides microalgae market statistics, including microalgae industry global market size, regional shares, competitors with microalgae market share, detailed microalgae market segments, market trends, and opportunities, and any further data you may need to thrive in the microalgae industry. This microalgae market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The microalgae market consists of sales of crypthecodinium, schizachyrium, and nannochloropsis species. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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