Scope of the Microalgae Market: a Demand and Supply Perspective

Abstract

Microalgae studies have recently become one of the most remarkable topics for humanity due to their wide range of uses. As the variety of products produced from microalgae increases, their usage areas are expanding and the demand is increasing. The most important microalgae cultivated to be used as a product today are Spirulina, Chlorella, Dunaliella, and Haematococcus. These microalgae can be used for some goals, such as the production of food and beverages, animal feeds, cosmetics, nutraceuticals, dietary supplements, bioremediation, agriculture, and biofuel. Biodiesel, bioethanol, biogas, and biojet fuel can be produced for the energy industry, while anti-inflammatory, anticancer, and antioxidant molecules can be used by the pharmaceutical industry. In addition, supplements, antioxidants, and vitamins contribute to the microalgae industry. Animal feeds, vegan foods, and colorants can be produced for the food industry. On the contrary, some molecules such as fucoxanthin, fucosterol, dolastatin, cannabinoids, and glucans will make significant contributions to the microalgae market in the future, and the microalgae market will expand with high production of these products. Before these products are obtained, microalgae are extracted and they go through many processes in order to meet the demand of the market. With the process integration and process intensification approaches, these can be produced as high-value-added products at a higher efficiency. Today, the value of microalgae-based products is approximately 1.25 billion dollars per year. This market will increase with the variety of algae products, supply chain features, and lower costs in algae production processes. From the point of view of the supply and demand chain, this chapter emphasis about how important the microalgae market is. © 2023 Walter de Gruyter GmbH, Berlin/Boston. All rights reserved.