Microalgae Market

Food & Beverage Manufacturers Produce Sustainable Microalgae by Adding Nutritional Value and Essential Fatty Acids to Promote Healthy Lifestyle. FMI Analyzes Opportunities with Japan, India, the United States, and 30+ More Countries

A detailed analysis of Microalgae Market by Spirulina, Chlorella, Dunaliella, Haematococcus, Crypthecodinium, Schizochytrium, Euglena, Nannochloropsis, Phaedactylum

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Microalgae Market Outlook (2023 to 2033)

The microalgae market is estimated to secure a valuation of US$ 11.8 billion in 2023 and is predicted to reach US$ 25.4 billion by 2033. The market is capturing a CAGR of 8% during the forecast period.

The surging usage of marine microalgae ingredients and proteins in the production of aquaculture, pharmaceutical, and nutraceutical products is set to drive sales in the market. Increasing government initiatives to standardize the cultivation process of microalgae is expected to be a key factor propelling the growth.

Rapid technological advancements to develop new strains that enhance energy efficiency and handle high salinity boost the market further. The vital need for the early detection of contaminants is anticipated to create new growth opportunities for novel photobioreactor microalgae producers.

Attributes	Details
Market CAGR (2023 to 2033)	8%
Market Valuation (2023)	US$ 11.8 billion
Market Valuation (2033)	US$ 25.4 billion

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Microalgae Market, 2018 to 2022 Historical Sales, Compared to 2023 to 2033 Future Outlook

The market registered a valuation of US$ 10.1 billion in 2018 and is estimated to capture a valuation of US$ 11.4 billion. The market secured a CAGR of 2.4% between 2018 and 2022.

Growing usage of algae photobioreactor as a source of bulk proteins is likely to push the growth in the market. These proteins play a key role in meeting global needs as they have numerous beneficial properties compared to other protein sources.

Arthrospira and chlorella are the most common species of algae photobioreactors that provide high-quality proteins. These species contain amino acid compositions similar to conventional protein sources, such as soybeans and eggs.

Many renowned manufacturers are expected to conduct elaborate research to improve the protein bioavailability from whole microalgae. It is done by utilizing pre-treatments that inhibit degradation by disturbing cell walls. Unlike animal-based proteins, the land requirement is also less for developing microalgae proteins

Comparative Analysis of Adjacent Markets

Microalgae Market:

Attributes	Microalgae Market
CAGR (2023 to 2033)	8%
Value (2023)	US$ 11.8 billion
Value (2033)	US$ 25.4 billion
Trends	Rising demand for renewable and sustainable sources of energy and increasing demand for functional foods.
Opportunities	Growing research and development activities, increasing demand for aquaculture, and rising cosmetic industry.

Microalgae-based Products Market:

Attributes	Microalgae-based Products Market
CAGR (2023 to 2033)	7.9%
Value (2023)	US$ 1.88 billion
Value (2033)	US$ 4.02 billion
Trends	Growing demand for nutritional and functional food products, growing awareness of health, and focus on sustainability.
Opportunities	Innovation of advanced technologies, research and development activities, focus on reducing environmental pollution, and growing cosmetic sector.

Personal Care and Cosmetics Microalgae Market:

Attributes	Personal Care and Cosmetics Microalgae Market
CAGR (2023 to 2033)	3.6%
Value (2023)	US$ 54.3 billion
Value (2033)	US$ 77.34 billion
Trends	Rising demand for skincare and haircare products, increasing demand for vegan products, and gluten-free products.
Opportunities	Growing oral care products, demand for vegan cosmetic products, rising huge investments, government initiatives, and key players.

Nandini Roy Choudhury

Principal Consultant

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Why Are Microalgae Extensively Used In Hair Care Products?

The ability of marine microalgae to act as a gentle clarifying agent in shampoos and effectively remove excess sebum and the residue of styling products is set to fuel its demand. It also helps prevent hair loss by reducing the irritation often caused by bacterial infections on the scalp. It boosts hair development by giving it a lot of volume and a lustrous sheen.

Microalgae further help restore and strengthen hair due to trace elements, minerals, and vitamins. The usage of chlorella in hair care products is estimated to surge as it improves the keratin level and strengthens hair roots.

How Is The Pet Food Industry Propelling Sales Of Microalgae?

The increasing humanization of pets is leading to the high demand for healthy foods from pet owners, thereby propelling the usage of algae photobioreactors in the pet food industry. The demand for high-quality premium pet food is expected to augment sales significantly.

Algae photobioreactor contains substantial amounts of vitamins E, C, and A and Beta-carotene, making it an ideal ingredient in pet food. It helps boost the pet’s appetite and strengthens its immune system, unlike regular foods available in the market.

Top Countries Influence in the Global Market are

Countries	Projected Share
The United States	25.7%
Germany	5.3%
Japan	3.0%
Australia	2.8%
China	4.5%
India	14.8%
The United Kingdom	5%

Why are Sales in the Japan Market Growing?

Adoption of Novel Photobioreactor Microalgae to Grow in Wastewater Treatment Plants.

Increasing government and private investments in producing energy systems based on biomass to address the vulnerable energy supply situation is likely to drive Japan market. As per FMI, Japan's microalgae market accounted for about 3.0% of the share in 2022.

The country is focusing on solving its wastewater treatment issues by deploying novel photobioreactor microalgae to purify its water resources and make them fit for consumption. Many prominent companies are also expected to use microalgae in the automotive industry due to Japan's lack of fossil fuels.

What is the United States Market Outlook?

Usage of Fermented Algae-based Fuel in the Aerospace Industry to Drive Growth.

The ongoing expansion of the aerospace and defense industry in the United States is projected to augment the market in the forthcoming years. The United States microalgae market is anticipated to account for a CAGR of 25.7% during the forecast period.

In November 2021, Honeywell Technology declared that its UOP Ecofining technology successfully supported the world's first jet flights using sustainable aviation fuel from algal oil. Two commercial flights combined microalgae feedstock and renewable jet fuel through Ecofining. Developing other types of fuels based on fermented algae is expected to augur well for the United States market.

How is the United Kingdom Market Progressing?

Rising Number of Research Programs to Create Growth Opportunities for Microalgae Companies.

Many leading microalgae companies are investing in the United Kingdom's algae industry to accelerate their strategy of reducing their carbon footprint and generating renewable energy. The United Kingdom microalgae market is estimated to hold a CAGR of 5% during the forecast period.

In December 2021, Biotechnology and Biological Sciences Research Council, for instance, developed Algae-United Kingdom. It is a robust network supporting the community of engineers and scientists interested in or working with industrial biotechnology applications of algae. These applications include macroalgae, microalgae, and cyanobacteria. Thus, the ongoing development of similar programs to conduct in-depth studies in this field is projected to drive the United Kingdom market.

Category-Wise Insights

Which Species Type is Likely to Dominate the Market?

Renowned Microalgae Companies are Introducing Spirulina Infused Products.

Based on species type, the spirulina segment is projected to lead the global market in the assessment period. Increasing applications in dietary supplements without any special type of processing is a key factor in driving sales in this segment.

In February 2022, Ful, an Amsterdam-based provider of sustainable and nourishing food and beverages, launched its new vivid blue-colored soda infused with spirulina. The company aims to reduce the food system's carbon footprint by using algae to make a popular ingredient. An increasing number of similar product launches by key microalgae companies across the globe is anticipated to spur sales in this segment.

Which Source Segment Exhibits Growth in the Market?

Marine Microalgae are Showcasing Immense Popularity Globally.

By source, the marine water segment is likely to dominate the global market in the forthcoming years. Marine microalgae can be easily produced on unproductive and desert soil using specialized growth chambers.

The issue of land rivalry is also eliminated as food crops may not be fully grown in these areas. This type of microalgae does not require freshwater, which is considered an expensive and significantly diminishing resource.

Which is the Leading End Use Application of Microalgae?

Usage of Fermented Algae to Surge in the Food and Beverages Industry.

Based on end-use applications, the food and beverages segment is set to remain at the forefront of the global market. Growth is attributable to this industry's surging utilization of fermented algae as a food additive.

Microalgae can improve food products' aroma, flavor, texture, and taste. It provides high nutritional value. Thus, many food and beverage manufacturers are using it in salad dressings, snacks, meat, confectionery, soups, eggs, ice creams, sauces, and fish globally.

How can Manufacturers Expand the Global Market?

Manufacturers can expand the market in several ways. The various end-use industries, such as cosmetics, agriculture, and pharmaceuticals, drive the global market. A few ways can expand the global market are:

Increase Productivity: Manufacturers can expand the market by investing their million dollars in research and development activities. They offer affordable products to attract consumers by growing their microalgae-based production.
Sustainable and Healthy Ingredients: Manufacturers are developing sustainable and eco-friendly microalgae rich in nutrient value. They also promote their sustainable products as a better health alternative to their consumers.
Educate Customers: Many consumers are unknown about the benefits of microalgae. The manufacturers educate these consumers. Educating customers, raising awareness, and promoting microalgae-based products to increase sales volume.
Collaborations: Manufacturers collaborate with several end-use industries to reach their relevant consumers. They develop advanced and sustainable products for various industries, such as food and beverages, cosmetics, etc.

Competition Landscape

Most of the key players in the global market are focusing on broadening their existing product portfolios, especially in the pet food domain. To do so, they invest in research and development activities to launch cutting-edge products. Meanwhile, a few other key players are aiming to create novel photobioreactor microalgae additives with the increasing demand for organic products from consumers worldwide.

Other Prominent Players Working in the Global Market

Lonza
Eastman Chemical Company
Daicel Corporation
Laxmi Organic Industries Ltd.
Mitsubishi Chemical Co., Ltd.
Zhangjiagang Hope Chemicals Co., Ltd.
Nantong Acetic Acid Chemical Co., Ltd.
Ningbo Wanglong Technology Co.
Jubilant Life Sciences Ltd.
Toronto Research Chemicals

Recent Developments in the Market:

In January 2022, Yemoja Ltd., a startup company that developed advanced ingredients from microalgae and further announced its plan to create red microalgae for plant-based steaks and burgers. Ounje, its new brand, resembles the red juices of animal meat without the requirement of artificial colors. The patented microalgal heme substitute congeals and browns like natural meat juices if cooked, apart from delivering the initial red pigment to plant-based meats.

In January 2022, Bharathidasan University based in Tamil Nadu signed a memorandum of understanding (MoU) with ZIGMA Global Environ Solutions for initiating a joint project worth Rs. 8.05 lakh on ‘microalgae-based bioremediation of municipal solid waste leachate.’ This project might include the usage of extremophilic microalgae to recover the municipal solid waste leachate that might otherwise seep down deep below, thereby spoiling the groundwater and soil.

Scope of Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	US$ billion for Value
Key Countries Covered	The United States, The United Kingdom, Japan, India, China, Australia, Germany
Key Segments Covered	Species Type Source End Use Region
Key Companies Profiled	Lonza Eastman Chemical Company Daicel Corporation Laxmi Organic Industries Ltd. Mitsubishi Chemical Co., Ltd. Zhangjiagang Hope Chemicals Co., Ltd. Nantong Acetic Acid Chemical Co., Ltd. Ningbo Wanglong Technology Co. Jubilant Life Sciences Ltd. Toronto Research Chemicals
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Microalgae Market By Category

Species Type:

Spirulina
Chlorella
Dunaliella
Haematococcus
Crypthecodinium
Schizochytrium
Euglena
Nannochloropsis
Phaedactylum
Others

Source:

Marine Water
Fresh Water

End Use Application:

Food and Beverages Sector
Health and Medical Sector
Animal Feed Sector
Pet Food Sector
Cosmetics and Personal Care Sector
Fertilizers Sector

Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The Middle East and Africa

Frequently Asked Questions

How is the Microalgae Market Growing?

The microalgae market is predicted to expand at an 8% CAGR through 2033.

Which Sector Drives the Microalgae Market?

The food and beverage sector drives the microalgae market.

What is the Future Scope of Growth for the Microalgae Market?

The microalgae market is expected to surpass US$ 25.4 billion by 2033.

What is the Microalgae Market Size?

The microalgae market is anticipated to be valued at US$ 11.8 billion in 2023.

Which Country Dominates the Global Microalgae Market?

The United States is dominating the global microalgae market by 2033.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyer’s

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Species

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Species, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Species, 2023 to 2033

        5.3.1. Spirulina

        5.3.2. Chlorella

        5.3.3. Dunaliella

        5.3.4. Haematococcus

        5.3.5. Crypthecodinium

        5.3.6. Schizochytrium

        5.3.7. Euglena

        5.3.8. Nannochloropsis

        5.3.9. Phaedactylum

        5.3.10. Others

    5.4. Y-o-Y Growth Trend Analysis By Species, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Species, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Source, 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Source, 2023 to 2033

        6.3.1. Marine Water

        6.3.2. Fresh Water

    6.4. Y-o-Y Growth Trend Analysis By Source, 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Source, 2023 to 2033

7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Application, 2018 to 2022

    7.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Application, 2023 to 2033

        7.3.1. Food and Beverages Sector

        7.3.2. Health and Medical Sector

        7.3.3. Animal Feed Sector

        7.3.4. Pet Food Sector

        7.3.5. Cosmetics and Personal Care Sector

        7.3.6. Fertilizers Sector

    7.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022

    7.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033

8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region

    8.1. Introduction

    8.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Region, 2018 to 2022

    8.3. Current Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033

        8.3.1. North America

        8.3.2. Latin America

        8.3.3. Europe

        8.3.4. Asia Pacific

        8.3.5. MEA

    8.4. Market Attractiveness Analysis By Region

9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    9.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    9.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        9.2.1. By Country

            9.2.1.1. The USA

            9.2.1.2. Canada

        9.2.2. By Species

        9.2.3. By Source

        9.2.4. By Application

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Species

        9.3.3. By Source

        9.3.4. By Application

    9.4. Key Takeaways

10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    10.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    10.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        10.2.1. By Country

            10.2.1.1. Brazil

            10.2.1.2. Mexico

            10.2.1.3. Rest of Latin America

        10.2.2. By Species

        10.2.3. By Source

        10.2.4. By Application

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Species

        10.3.3. By Source

        10.3.4. By Application

    10.4. Key Takeaways

11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    11.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    11.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Country

            11.2.1.1. Germany

            11.2.1.2. United Kingdom

            11.2.1.3. France

            11.2.1.4. Spain

            11.2.1.5. Italy

            11.2.1.6. Rest of Europe

        11.2.2. By Species

        11.2.3. By Source

        11.2.4. By Application

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Species

        11.3.3. By Source

        11.3.4. By Application

    11.4. Key Takeaways

12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    12.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    12.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Country

            12.2.1.1. China

            12.2.1.2. Japan

            12.2.1.3. South Korea

            12.2.1.4. Singapore

            12.2.1.5. Thailand

            12.2.1.6. Indonesia

            12.2.1.7. Australia

            12.2.1.8. New Zealand

            12.2.1.9. Rest of Asia Pacific

        12.2.2. By Species

        12.2.3. By Source

        12.2.4. By Application

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Species

        12.3.3. By Source

        12.3.4. By Application

    12.4. Key Takeaways

13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    13.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    13.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        13.2.1. By Country

            13.2.1.1. GCC Countries

            13.2.1.2. South Africa

            13.2.1.3. Israel

            13.2.1.4. Rest of MEA

        13.2.2. By Species

        13.2.3. By Source

        13.2.4. By Application

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Species

        13.3.3. By Source

        13.3.4. By Application

    13.4. Key Takeaways

14. Key Countries Market Analysis

    14.1. USA

        14.1.1. Pricing Analysis

        14.1.2. Market Share Analysis, 2022

            14.1.2.1. By Species

            14.1.2.2. By Source

            14.1.2.3. By Application

    14.2. Canada

        14.2.1. Pricing Analysis

        14.2.2. Market Share Analysis, 2022

            14.2.2.1. By Species

            14.2.2.2. By Source

            14.2.2.3. By Application

    14.3. Brazil

        14.3.1. Pricing Analysis

        14.3.2. Market Share Analysis, 2022

            14.3.2.1. By Species

            14.3.2.2. By Source

            14.3.2.3. By Application

    14.4. Mexico

        14.4.1. Pricing Analysis

        14.4.2. Market Share Analysis, 2022

            14.4.2.1. By Species

            14.4.2.2. By Source

            14.4.2.3. By Application

    14.5. Germany

        14.5.1. Pricing Analysis

        14.5.2. Market Share Analysis, 2022

            14.5.2.1. By Species

            14.5.2.2. By Source

            14.5.2.3. By Application

    14.6. United Kingdom

        14.6.1. Pricing Analysis

        14.6.2. Market Share Analysis, 2022

            14.6.2.1. By Species

            14.6.2.2. By Source

            14.6.2.3. By Application

    14.7. France

        14.7.1. Pricing Analysis

        14.7.2. Market Share Analysis, 2022

            14.7.2.1. By Species

            14.7.2.2. By Source

            14.7.2.3. By Application

    14.8. Spain

        14.8.1. Pricing Analysis

        14.8.2. Market Share Analysis, 2022

            14.8.2.1. By Species

            14.8.2.2. By Source

            14.8.2.3. By Application

    14.9. Italy

        14.9.1. Pricing Analysis

        14.9.2. Market Share Analysis, 2022

            14.9.2.1. By Species

            14.9.2.2. By Source

            14.9.2.3. By Application

    14.10. China

        14.10.1. Pricing Analysis

        14.10.2. Market Share Analysis, 2022

            14.10.2.1. By Species

            14.10.2.2. By Source

            14.10.2.3. By Application

    14.11. Japan

        14.11.1. Pricing Analysis

        14.11.2. Market Share Analysis, 2022

            14.11.2.1. By Species

            14.11.2.2. By Source

            14.11.2.3. By Application

    14.12. South Korea

        14.12.1. Pricing Analysis

        14.12.2. Market Share Analysis, 2022

            14.12.2.1. By Species

            14.12.2.2. By Source

            14.12.2.3. By Application

    14.13. Singapore

        14.13.1. Pricing Analysis

        14.13.2. Market Share Analysis, 2022

            14.13.2.1. By Species

            14.13.2.2. By Source

            14.13.2.3. By Application

    14.14. Thailand

        14.14.1. Pricing Analysis

        14.14.2. Market Share Analysis, 2022

            14.14.2.1. By Species

            14.14.2.2. By Source

            14.14.2.3. By Application

    14.15. Indonesia

        14.15.1. Pricing Analysis

        14.15.2. Market Share Analysis, 2022

            14.15.2.1. By Species

            14.15.2.2. By Source

            14.15.2.3. By Application

    14.16. Australia

        14.16.1. Pricing Analysis

        14.16.2. Market Share Analysis, 2022

            14.16.2.1. By Species

            14.16.2.2. By Source

            14.16.2.3. By Application

    14.17. New Zealand

        14.17.1. Pricing Analysis

        14.17.2. Market Share Analysis, 2022

            14.17.2.1. By Species

            14.17.2.2. By Source

            14.17.2.3. By Application

    14.18. GCC Countries

        14.18.1. Pricing Analysis

        14.18.2. Market Share Analysis, 2022

            14.18.2.1. By Species

            14.18.2.2. By Source

            14.18.2.3. By Application

    14.19. South Africa

        14.19.1. Pricing Analysis

        14.19.2. Market Share Analysis, 2022

            14.19.2.1. By Species

            14.19.2.2. By Source

            14.19.2.3. By Application

    14.20. Israel

        14.20.1. Pricing Analysis

        14.20.2. Market Share Analysis, 2022

            14.20.2.1. By Species

            14.20.2.2. By Source

            14.20.2.3. By Application

15. Market Structure Analysis

    15.1. Competition Dashboard

    15.2. Competition Benchmarking

    15.3. Market Share Analysis of Top Players

        15.3.1. By Regional

        15.3.2. By Species

        15.3.3. By Source

        15.3.4. By Application

16. Competition Analysis

    16.1. Competition Deep Dive

        16.1.1. Lonza

            16.1.1.1. Overview

            16.1.1.2. Product Portfolio

            16.1.1.3. Profitability by Market Segments

            16.1.1.4. Sales Footprint

            16.1.1.5. Strategy Overview

                16.1.1.5.1. Marketing Strategy

                16.1.1.5.2. Product Strategy

                16.1.1.5.3. Channel Strategy

        16.1.2. Eastman Chemical Company

            16.1.2.1. Overview

            16.1.2.2. Product Portfolio

            16.1.2.3. Profitability by Market Segments

            16.1.2.4. Sales Footprint

            16.1.2.5. Strategy Overview

                16.1.2.5.1. Marketing Strategy

                16.1.2.5.2. Product Strategy

                16.1.2.5.3. Channel Strategy

        16.1.3. Daicel Corporation

            16.1.3.1. Overview

            16.1.3.2. Product Portfolio

            16.1.3.3. Profitability by Market Segments

            16.1.3.4. Sales Footprint

            16.1.3.5. Strategy Overview

                16.1.3.5.1. Marketing Strategy

                16.1.3.5.2. Product Strategy

                16.1.3.5.3. Channel Strategy

        16.1.4. Laxmi Organic Industries Ltd.

            16.1.4.1. Overview

            16.1.4.2. Product Portfolio

            16.1.4.3. Profitability by Market Segments

            16.1.4.4. Sales Footprint

            16.1.4.5. Strategy Overview

                16.1.4.5.1. Marketing Strategy

                16.1.4.5.2. Product Strategy

                16.1.4.5.3. Channel Strategy

        16.1.5. Mitsubishi Chemical Co., Ltd.

            16.1.5.1. Overview

            16.1.5.2. Product Portfolio

            16.1.5.3. Profitability by Market Segments

            16.1.5.4. Sales Footprint

            16.1.5.5. Strategy Overview

                16.1.5.5.1. Marketing Strategy

                16.1.5.5.2. Product Strategy

                16.1.5.5.3. Channel Strategy

        16.1.6. Zhangjiagang Hope Chemicals Co., Ltd.

            16.1.6.1. Overview

            16.1.6.2. Product Portfolio

            16.1.6.3. Profitability by Market Segments

            16.1.6.4. Sales Footprint

            16.1.6.5. Strategy Overview

                16.1.6.5.1. Marketing Strategy

                16.1.6.5.2. Product Strategy

                16.1.6.5.3. Channel Strategy

        16.1.7. Nantong Acetic Acid Chemical Co., Ltd.

            16.1.7.1. Overview

            16.1.7.2. Product Portfolio

            16.1.7.3. Profitability by Market Segments

            16.1.7.4. Sales Footprint

            16.1.7.5. Strategy Overview

                16.1.7.5.1. Marketing Strategy

                16.1.7.5.2. Product Strategy

                16.1.7.5.3. Channel Strategy

        16.1.8. Ningbo Wanglong Technology Co.

            16.1.8.1. Overview

            16.1.8.2. Product Portfolio

            16.1.8.3. Profitability by Market Segments

            16.1.8.4. Sales Footprint

            16.1.8.5. Strategy Overview

                16.1.8.5.1. Marketing Strategy

                16.1.8.5.2. Product Strategy

                16.1.8.5.3. Channel Strategy

        16.1.9. Jubilant Life Sciences Ltd.

            16.1.9.1. Overview

            16.1.9.2. Product Portfolio

            16.1.9.3. Profitability by Market Segments

            16.1.9.4. Sales Footprint

            16.1.9.5. Strategy Overview

                16.1.9.5.1. Marketing Strategy

                16.1.9.5.2. Product Strategy

                16.1.9.5.3. Channel Strategy

        16.1.10. Toronto Research Chemicals

            16.1.10.1. Overview

            16.1.10.2. Product Portfolio

            16.1.10.3. Profitability by Market Segments

            16.1.10.4. Sales Footprint

            16.1.10.5. Strategy Overview

                16.1.10.5.1. Marketing Strategy

                16.1.10.5.2. Product Strategy

                16.1.10.5.3. Channel Strategy

17. Assumptions & Acronyms Used

18. Research Methodology

List of Tables

Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033

Table 2: Global Market Volume (MT) Forecast by Region, 2018 to 2033

Table 3: Global Market Value (US$ Million) Forecast by Species, 2018 to 2033

Table 4: Global Market Volume (MT) Forecast by Species, 2018 to 2033

Table 5: Global Market Value (US$ Million) Forecast by Source, 2018 to 2033

Table 6: Global Market Volume (MT) Forecast by Source, 2018 to 2033

Table 7: Global Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 8: Global Market Volume (MT) Forecast by Application, 2018 to 2033

Table 9: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 10: North America Market Volume (MT) Forecast by Country, 2018 to 2033

Table 11: North America Market Value (US$ Million) Forecast by Species, 2018 to 2033

Table 12: North America Market Volume (MT) Forecast by Species, 2018 to 2033

Table 13: North America Market Value (US$ Million) Forecast by Source, 2018 to 2033

Table 14: North America Market Volume (MT) Forecast by Source, 2018 to 2033

Table 15: North America Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 16: North America Market Volume (MT) Forecast by Application, 2018 to 2033

Table 17: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 18: Latin America Market Volume (MT) Forecast by Country, 2018 to 2033

Table 19: Latin America Market Value (US$ Million) Forecast by Species, 2018 to 2033

Table 20: Latin America Market Volume (MT) Forecast by Species, 2018 to 2033

Table 21: Latin America Market Value (US$ Million) Forecast by Source, 2018 to 2033

Table 22: Latin America Market Volume (MT) Forecast by Source, 2018 to 2033

Table 23: Latin America Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 24: Latin America Market Volume (MT) Forecast by Application, 2018 to 2033

Table 25: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 26: Europe Market Volume (MT) Forecast by Country, 2018 to 2033

Table 27: Europe Market Value (US$ Million) Forecast by Species, 2018 to 2033

Table 28: Europe Market Volume (MT) Forecast by Species, 2018 to 2033

Table 29: Europe Market Value (US$ Million) Forecast by Source, 2018 to 2033

Table 30: Europe Market Volume (MT) Forecast by Source, 2018 to 2033

Table 31: Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 32: Europe Market Volume (MT) Forecast by Application, 2018 to 2033

Table 33: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 34: Asia Pacific Market Volume (MT) Forecast by Country, 2018 to 2033

Table 35: Asia Pacific Market Value (US$ Million) Forecast by Species, 2018 to 2033

Table 36: Asia Pacific Market Volume (MT) Forecast by Species, 2018 to 2033

Table 37: Asia Pacific Market Value (US$ Million) Forecast by Source, 2018 to 2033

Table 38: Asia Pacific Market Volume (MT) Forecast by Source, 2018 to 2033

Table 39: Asia Pacific Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 40: Asia Pacific Market Volume (MT) Forecast by Application, 2018 to 2033

Table 41: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 42: MEA Market Volume (MT) Forecast by Country, 2018 to 2033

Table 43: MEA Market Value (US$ Million) Forecast by Species, 2018 to 2033

Table 44: MEA Market Volume (MT) Forecast by Species, 2018 to 2033

Table 45: MEA Market Value (US$ Million) Forecast by Source, 2018 to 2033

Table 46: MEA Market Volume (MT) Forecast by Source, 2018 to 2033

Table 47: MEA Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 48: MEA Market Volume (MT) Forecast by Application, 2018 to 2033

Nandini Roy Choudhury

Principal Consultant

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List of Charts

Figure 1: Global Market Value (US$ Million) by Species, 2023 to 2033

Figure 2: Global Market Value (US$ Million) by Source, 2023 to 2033

Figure 3: Global Market Value (US$ Million) by Application, 2023 to 2033

Figure 4: Global Market Value (US$ Million) by Region, 2023 to 2033

Figure 5: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033

Figure 6: Global Market Volume (MT) Analysis by Region, 2018 to 2033

Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033

Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033

Figure 9: Global Market Value (US$ Million) Analysis by Species, 2018 to 2033

Figure 10: Global Market Volume (MT) Analysis by Species, 2018 to 2033

Figure 11: Global Market Value Share (%) and BPS Analysis by Species, 2023 to 2033

Figure 12: Global Market Y-o-Y Growth (%) Projections by Species, 2023 to 2033

Figure 13: Global Market Value (US$ Million) Analysis by Source, 2018 to 2033

Figure 14: Global Market Volume (MT) Analysis by Source, 2018 to 2033

Figure 15: Global Market Value Share (%) and BPS Analysis by Source, 2023 to 2033

Figure 16: Global Market Y-o-Y Growth (%) Projections by Source, 2023 to 2033

Figure 17: Global Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 18: Global Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 19: Global Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 20: Global Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 21: Global Market Attractiveness by Species, 2023 to 2033

Figure 22: Global Market Attractiveness by Source, 2023 to 2033

Figure 23: Global Market Attractiveness by Application, 2023 to 2033

Figure 24: Global Market Attractiveness by Region, 2023 to 2033

Figure 25: North America Market Value (US$ Million) by Species, 2023 to 2033

Figure 26: North America Market Value (US$ Million) by Source, 2023 to 2033

Figure 27: North America Market Value (US$ Million) by Application, 2023 to 2033

Figure 28: North America Market Value (US$ Million) by Country, 2023 to 2033

Figure 29: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 30: North America Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 31: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 32: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 33: North America Market Value (US$ Million) Analysis by Species, 2018 to 2033

Figure 34: North America Market Volume (MT) Analysis by Species, 2018 to 2033

Figure 35: North America Market Value Share (%) and BPS Analysis by Species, 2023 to 2033

Figure 36: North America Market Y-o-Y Growth (%) Projections by Species, 2023 to 2033

Figure 37: North America Market Value (US$ Million) Analysis by Source, 2018 to 2033

Figure 38: North America Market Volume (MT) Analysis by Source, 2018 to 2033

Figure 39: North America Market Value Share (%) and BPS Analysis by Source, 2023 to 2033

Figure 40: North America Market Y-o-Y Growth (%) Projections by Source, 2023 to 2033

Figure 41: North America Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 42: North America Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 43: North America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 44: North America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 45: North America Market Attractiveness by Species, 2023 to 2033

Figure 46: North America Market Attractiveness by Source, 2023 to 2033

Figure 47: North America Market Attractiveness by Application, 2023 to 2033

Figure 48: North America Market Attractiveness by Country, 2023 to 2033

Figure 49: Latin America Market Value (US$ Million) by Species, 2023 to 2033

Figure 50: Latin America Market Value (US$ Million) by Source, 2023 to 2033

Figure 51: Latin America Market Value (US$ Million) by Application, 2023 to 2033

Figure 52: Latin America Market Value (US$ Million) by Country, 2023 to 2033

Figure 53: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 54: Latin America Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 55: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 57: Latin America Market Value (US$ Million) Analysis by Species, 2018 to 2033

Figure 58: Latin America Market Volume (MT) Analysis by Species, 2018 to 2033

Figure 59: Latin America Market Value Share (%) and BPS Analysis by Species, 2023 to 2033

Figure 60: Latin America Market Y-o-Y Growth (%) Projections by Species, 2023 to 2033

Figure 61: Latin America Market Value (US$ Million) Analysis by Source, 2018 to 2033

Figure 62: Latin America Market Volume (MT) Analysis by Source, 2018 to 2033

Figure 63: Latin America Market Value Share (%) and BPS Analysis by Source, 2023 to 2033

Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Source, 2023 to 2033

Figure 65: Latin America Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 66: Latin America Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 67: Latin America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 68: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 69: Latin America Market Attractiveness by Species, 2023 to 2033

Figure 70: Latin America Market Attractiveness by Source, 2023 to 2033

Figure 71: Latin America Market Attractiveness by Application, 2023 to 2033

Figure 72: Latin America Market Attractiveness by Country, 2023 to 2033

Figure 73: Europe Market Value (US$ Million) by Species, 2023 to 2033

Figure 74: Europe Market Value (US$ Million) by Source, 2023 to 2033

Figure 75: Europe Market Value (US$ Million) by Application, 2023 to 2033

Figure 76: Europe Market Value (US$ Million) by Country, 2023 to 2033

Figure 77: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 78: Europe Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 79: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 80: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 81: Europe Market Value (US$ Million) Analysis by Species, 2018 to 2033

Figure 82: Europe Market Volume (MT) Analysis by Species, 2018 to 2033

Figure 83: Europe Market Value Share (%) and BPS Analysis by Species, 2023 to 2033

Figure 84: Europe Market Y-o-Y Growth (%) Projections by Species, 2023 to 2033

Figure 85: Europe Market Value (US$ Million) Analysis by Source, 2018 to 2033

Figure 86: Europe Market Volume (MT) Analysis by Source, 2018 to 2033

Figure 87: Europe Market Value Share (%) and BPS Analysis by Source, 2023 to 2033

Figure 88: Europe Market Y-o-Y Growth (%) Projections by Source, 2023 to 2033

Figure 89: Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 90: Europe Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 91: Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 92: Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 93: Europe Market Attractiveness by Species, 2023 to 2033

Figure 94: Europe Market Attractiveness by Source, 2023 to 2033

Figure 95: Europe Market Attractiveness by Application, 2023 to 2033

Figure 96: Europe Market Attractiveness by Country, 2023 to 2033

Figure 97: Asia Pacific Market Value (US$ Million) by Species, 2023 to 2033

Figure 98: Asia Pacific Market Value (US$ Million) by Source, 2023 to 2033

Figure 99: Asia Pacific Market Value (US$ Million) by Application, 2023 to 2033

Figure 100: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033

Figure 101: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 102: Asia Pacific Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 103: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 104: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 105: Asia Pacific Market Value (US$ Million) Analysis by Species, 2018 to 2033

Figure 106: Asia Pacific Market Volume (MT) Analysis by Species, 2018 to 2033

Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Species, 2023 to 2033

Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Species, 2023 to 2033

Figure 109: Asia Pacific Market Value (US$ Million) Analysis by Source, 2018 to 2033

Figure 110: Asia Pacific Market Volume (MT) Analysis by Source, 2018 to 2033

Figure 111: Asia Pacific Market Value Share (%) and BPS Analysis by Source, 2023 to 2033

Figure 112: Asia Pacific Market Y-o-Y Growth (%) Projections by Source, 2023 to 2033

Figure 113: Asia Pacific Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 114: Asia Pacific Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 115: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 116: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 117: Asia Pacific Market Attractiveness by Species, 2023 to 2033

Figure 118: Asia Pacific Market Attractiveness by Source, 2023 to 2033

Figure 119: Asia Pacific Market Attractiveness by Application, 2023 to 2033

Figure 120: Asia Pacific Market Attractiveness by Country, 2023 to 2033

Figure 121: MEA Market Value (US$ Million) by Species, 2023 to 2033

Figure 122: MEA Market Value (US$ Million) by Source, 2023 to 2033

Figure 123: MEA Market Value (US$ Million) by Application, 2023 to 2033

Figure 124: MEA Market Value (US$ Million) by Country, 2023 to 2033

Figure 125: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 126: MEA Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 127: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 128: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 129: MEA Market Value (US$ Million) Analysis by Species, 2018 to 2033

Figure 130: MEA Market Volume (MT) Analysis by Species, 2018 to 2033

Figure 131: MEA Market Value Share (%) and BPS Analysis by Species, 2023 to 2033

Figure 132: MEA Market Y-o-Y Growth (%) Projections by Species, 2023 to 2033

Figure 133: MEA Market Value (US$ Million) Analysis by Source, 2018 to 2033

Figure 134: MEA Market Volume (MT) Analysis by Source, 2018 to 2033

Figure 135: MEA Market Value Share (%) and BPS Analysis by Source, 2023 to 2033

Figure 136: MEA Market Y-o-Y Growth (%) Projections by Source, 2023 to 2033

Figure 137: MEA Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 138: MEA Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 139: MEA Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 140: MEA Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 141: MEA Market Attractiveness by Species, 2023 to 2033

Figure 142: MEA Market Attractiveness by Source, 2023 to 2033

Figure 143: MEA Market Attractiveness by Application, 2023 to 2033

Figure 144: MEA Market Attractiveness by Country, 2023 to 2033