A number of modern food producers, manufacturers and marketers find that functional food holds a special appeal with increasingly health conscious public. A large number of food manufacturers are opting to improvise their product portfolio with algae based ingredients to appeal the inclinations of the consumer. Algae, grown inclosed system tanks or sunlit ponds , can be synthetically altered to provide a wide range of functional and nutritional properties. For instance, if a food producer is wants to market a product that consists of a high percentage of beta carotene, this can be naturally selected utilizing an appropriate algae strain. If a product with a significant amount of protein is required, a different algae strain from the same species can be used. These different features can be manufactured by similar processes. Therefore, the manufacturer does not necessarily need to start from scratch in order to satisfy current good manufacturing practice or compliance requirements, or in-plant processes.
Recently, Parry Nutraceuticals, formed a joint venure along with Synthite Industries Ltd. for the production of Phycocyanin, a blue pigment that is extracted from Spirulina. These days, consumers demand food choices that can offer high nutritional values, and offer benefits beyond the daily requirements of the human body. For instance, Kellogg’s recently launched its product called Special K Nourish Berries & Peaches with Probiotics. According to Kellogg’s, the new product is the only cereal from a leading brand that contains live and active probiotic cultures, and these probiotics add digestive wellness to it.
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What are the factors propelling the global algae market?
A number of factors such as the surge in interest for algae items from pharmaceutical and nutraceutical enterprises, expanding usage of shades from Microalgae because of strict controls with respect to the utilization of manufactured colors, and expanding inclination for algae sourced products are driving the development of algae items market. Be that as it may, factors, for example, complex creation and low mindfulness about the advantages of algae are relied upon to upset the development of this market to some degree.
Algae oil offers more nourishing an incentive as animal feed as it contains omega-3, which is driving the demand in that field. Likewise, it has preference over the land crops which are utilized as pasture, since algae development requires less amount of water and land. Biofuel is additionally being utilized progressively as an option inexhaustible fuel in mixing biodiesel, gas, stream fuel, and others. It is an extremely appealing alternative for non-oil producing regions, since it is ecologically well disposed and low sulfur-emanating fuel creation strategy. Development of option inexhaustible fuel division crosswise over geographies is relied upon to impel market demand.
Which geographical region is expected to make a mark in the market?
In 2015, the North American market led the regional segment. The U.S., Canada, and Mexico house over 135 organizations occupied with algae development and this is a key factor driving the algae market in the region. The region is expected to continue its dominance over other other regional markets, like Europe, Asia Pacific, Latin America, and MEA.
Market in the Asia Pacific are concentrating on algal biotechnology in wastewater bioremediation and CO2 reuse. Asia Pacific hosts five of the best 10 carbon producers on the planet – India, China, Japan, Indonesia, and Iran – who add to over 40% of the worldwide emanations. Solid developments are under approach to completely market the creation of biofuels from algae.
Some of the prominent vendors of the global algae market include Sapphire Energy, Phycal LLC, Kai BioEnergy Corp., LiveFuels, Inc. and DSM Nutritional Products.