United States Microalgae Market Insights Forecasts to 2033

• The U.S. Microalgae Market Size was valued at USD 376.5 Million in 2023.
• The Market is growing at a CAGR of 6.59% from 2023 to 2033
• The U.S. Microalgae Market Size is expected to reach USD 712.5 Million by 2033

The United States Microalgae Market is anticipated to exceed USD 712.5 Million by 2033, growing at a CAGR of 6.59% from 2023 to 2033. The growing awareness about the health benefits of microalgae products and technological advancements are driving the growth of the microalgae market in the US.     

Market Overview

Microalgae are microscopic algae that can reside alone or in colonies. They are also known as single-celled algae. These are freshwater or saltwater-dwelling photosynthetic microorganisms, with varying size and shape according to the species, with sizes ranging from micrometers to hundreds of micrometers. The main purpose of microalgae is to produce algal biomass by converting carbon dioxide, sunlight, and water. They are utilized in the production of paper ink as well as in the food, feed, cosmetic, and nutraceutical industries. Both the public and commercial sectors have expanded investments in cutting-edge microalgae technology supporting the production of microalgae due to the industry's significant impact on consumers and ability to provide sustainable solutions to problems. The adoption of strategic initiatives by the top market players in an effort to improve business operations and increase profitability as the need for innovative and effective microalgae-derived products grows. This is anticipated to leverage the market opportunity.

Report Coverage

This research report categorizes the market for the US microalgae market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States microalgae market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the US microalgae market.

Driving Factors

As new products containing microalgae continue to be introduced to the market, a number of industry participants are implementing campaigns that bring awareness to their creative brands. Thus, raising consumer awareness is driving up product sales, which promotes the market expansion for microalgae. Further, the rising trend of plant-based food with increasing health-related issues as well as awareness about the benefits of microalgae are propelling the market growth. The increasing cutting-edge technology and novel technology approaches for the production of microalgae are driving the market growth.  

Restraining Factors

The side effects associated with microalgae-based products including immunity-boosting supplements are restraining the U.S. microalgae market.  

Market Segmentation

The United States Microalgae Market share is classified into type and application.

• The spirulina segment is anticipated to hold the largest market share during the forecast period.   

The United States microalgae market is segmented by type into spirulina, chlorella, dunaliella, salina, and aphanizomenon flos-aquae. Among these, the spirulina segment dominates the US microalgae market during the forecast period. Due to its high protein content, rich nutrient profile, and health benefits, spirulina is extensively utilized in dietary supplements in industries like food & beverages and pharmaceuticals. Limitations on artificial colorants and flavors have made it possible to use the natural pigments found in spirulina as food coloring or flavoring.

• The food/feed segment dominates the US microalgae market during the forecast period.       

Based on the application, the U.S. microalgae market is divided into dietary supplements, food/feed, pharmaceutical, cosmetic, and others. Among these, the food/feed segment dominates the US microalgae market during the forecast period. Microalgae are widely used to increase the nutritional content of animal feed, which promotes healthier and faster animal growth. The growing health and wellness as well as dietary supplements industry are driving the market in the food/feed segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the U.S. microalgae market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.  

List of Key Companies

• Cellana Inc.
• Cyanotech Corporation
• Corbion
• Algatech LTD
• Heliae Development, LLC
• DSM
• AlgaEnergy
• Parry Nutraceuticals
• AstaReal Co., Ltd
• Earthrise Nutritionals, LLC
• Inner Mongolia Rejuve Biotech
• Far East Bio-Tec Co., Ltd.
• DIC CORPORATION
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2022, AlgaEnergy, a leading international company in the microalgae biotechnology sector and its applications, joined the Technology Platform Food for Life-Spain (PTF4LS) as an associate, led by the Spanish Food and Drink Industry Federation (FIAB) and considered the largest technological platform in the Spanish agri-food sector.

Market Segment

This study forecasts revenue at U.S., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United States Microalgae Market based on the below-mentioned segments:

US Microalgae Market, By Type

• Spirulina
• Chlorella
• Dunaliella
• Salina
• Aphanizomenon Flos-Aquae

US Microalgae Market, By Application

• Dietary Supplements
• Food/Feed
• Pharmaceutical
• Cosmetic
• Others