Marine micro algae -A global perspective

Kizhakudan, Joe K and Xavier, Biji and Ranjan, Ritesh and Loka, Jayasree and Megarajan, Sekhar (2024) Marine micro algae -A global perspective. In: Marine Microalgae culture Techniques. CMFRI Training Manual Series No. 46/2024 . ICAR-Central Marine Fisheries Research Institute, Visakhapatnam, pp. 75-96.

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Abstract

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. 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. The usage of chlorella in hair care products is estimated to surge as it improves the keratin level and strengthens hair roots. 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. Many countries are investing on applying algae for solving wastewater treatment issues by deploying novel photobioreactor microalgae and to purify water resources and make them fit for consumption. Many prominent companies are also expected to use microalgae in the automotive industry due to pressure on fossil fuels The Microalgae Market is estimated to secure a valuation of USD 11.8 billion in 2023 and is predicted to reach USD 25.4 billion by 2033. The market is capturing a CAGR (Compound Annual Growth Rate )of 8% during the forecast period. Renowned Microalgae Companies are Introducing Spirulina Infused Products. Rising Number of Research Programs to Create Growth Opportunities for Microalgae Companies. Adoption of Novel Photobioreactor Microalgae to Grow in Wastewater Treatment Plants. Growth is attributable to this industry’s surging utilization of fermented algae . as a food additive.

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