The latest market report published by Credence Research, Inc. “Global Microalgae Fertilizers Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Microalgae Fertilizers Market generated revenue of around USD 11.33 million in 2021 and is anticipated to grow a CAGR of over 9.75% during the forecast period from 2021 to 2028 to reach around USD 22.28 million in 2028. While, cumulative growth opportunity presented by the global Microalgae Fertilizers is around USD 120 million during 2022 to 2028.
Global Microalgae Fertilizers Market, 2021 – 2028 (USD Million)
Browse the full report at Microalgae Fertilizers Market Size, Trends, Share and Growth Report Forecast to 2028 | Credence Research
Microalgae fertilizers are some of the fastest-growing factions in the fertilizer market. The microalgae fertilizer has enormous potential and it is expected the market will rise in the coming years to eventually reach a valuation of over US$ 22 million. Microalgae is phytoplankton which is not visible to the naked eye but is found in fertilizer. It is an organic material that explains the rise of demand in the microalgae fertilizer market. There is a trend in the global market fixating on ways of having better and more sustainable farming. It is necessary to recognize that the eutrophication caused by normal fertilizer is no longer acceptable in the fertilizers market.
Sprulina to Held the Largest Share
Spirulina, Chlorella, Dunaliella, Schizochytrium, Euglena, Nannochloropsis, Nostoc and Others are some of the important types of species used to produce Microalgae Fertilizers. However, spirulina is growing in demand owing to wide acceptance from end-users. While, chlorella and Euglena are likely to grow at a sluggish growth rate over the forecast period as compare to spirulina. Spirulina generated over 40% of the total revenue garnered by the global Microalgae Fertilizers market in 2021.
Agriculture and Animal Waste to Grow at Rapid Pace
Biofertilizers, Biocontrole, Soil microalgae, Biostimulants and Soil Conditioner are major applications of the global Microalgae Fertilizers industry. Biofertilizers are growing in demand owing to rising demand from farmers in line with increasing organic farming trends. Soil microalgae on the other hand is likely to report slow yet steady growth rate over the forecast period. Biofertilizers held over 35% share in 2021.
Power Generation to Hold Largest Share
Marine water and fresh water are two major sources of Microalgae Fertilizers. Fresh water sources accounted for vast major share in the total revenue generated by the Microalgae Fertilizers market. It held over 75% share in 2021. While, marine water reported quite sluggish growth rate as compared to its counterpart.
U.S. is Leading Microalgae Fertilizers Demand
U.S. is leading the Microalgae Fertilizers industry with over 35% share in 2021. Presence of large number Microalgae Fertilizers production facilities installed across 50 states and availability of technology is mainly driving the demand for Microalgae Fertilizers in the country. UK, Germany and France also expected to post attractive CAGR during the forecast period. While, China, India, Japan and South Korea are likely to advance at a rapid pace over the forecast period.
Major players operating in the Algaenergy, Algatec (Lusoamoreiras), Algatechnologies Ltd., Algenol, Algix, Allmicroalgae, BASF SE, BGG (Beijing Gingko Group), Cellana LLC, Cyanotech Corporation, DIC Corporation, Fuji Chemical Industries Co., Ltd., Inner Mongolia Rejuve Biotech Co. Ltd., INNOBIO Corporation Limited, KDI Ingredients, Koninkliijke DSM NV, Nikken Sohonsha, Nikken Sohonsha Corp, Parry Nutraceuticals, Roquette Frères and Sinoway Industrial Co., ltd. Global Microalgae Fertilizers market is characterized by the presence of large number of manufacturers across the world.
Global Microalgae Fertilizers Market by Species, 2016 – 2028
Global Microalgae Fertilizers Market by Source, 2016 – 2028
- Marine water
- Fresh Water
Global Microalgae Fertilizers Market by Application, 2016 – 2028
- Soil microalgae
- Soil Conditioner
Global Microalgae Fertilizers Market by Company, 2016 – 2028
- Algatec (Lusoamoreiras)
- Algatechnologies Ltd.
- BASF SE
- BGG (Beijing Gingko Group)
- Cellana LLC
- Cyanotech Corporation
- DIC Corporation
- Fuji Chemical Industries Co., Ltd.
- Inner Mongolia Rejuve Biotech Co. Ltd.
- INNOBIO Corporation Limited
- KDI Ingredients
- Koninkliijke DSM NVNikken Sohonsha
- Nikken Sohonsha Corp
- Parry Nutraceuticals
- Roquette Frères
- Sinoway Industrial Co., ltd.