Red Algae Market Introduction
Red Algae which is also known as Rhodophyta is one of the oldest group of Eukaryotic algae. The majority of the species, around 6,793 are found in the Florideophyceae class and made up of mostly multicellular, marine algae, including seaweeds. Around 5% of the red algae occur in the freshwater environments along with greater concentrations in the warmer area. Red algae are red because of the presence of a pigment named phycoerythrin, which reflects red light and absorbs blue light. Red algae are been used as a source of food for around thousand years and also for treating medical ailments. Red algae are high in vitamins, minerals, and antioxidants which are easily utilized by the human body. The benefits of red algae are that it promotes healthy circulation in the body, balances blood sugar levels and lowers cholesterol levels as it has a high concentration of dietary fiber. It is also a rich source of magnesium and calcium which contributes to bone health. It is also loaded with antioxidants which help boost the immune system and nourishes skin.
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Red Algae Market Segmentation
The Red Algae market can be segmented on the basis of types, form, application, and region.
By types, red algae market can be segmented into freshwater red algae, marine red algae, and calcified red algae. Among these, the freshwater and marine algae are the most used one by the manufacturers of its by-products. The calcified red algae are synthetically grown by the farmers and biotechnologists.
By form, red algae market can be segmented into powdered form, liquid form, natural dried form and in gel form. Among all these forms, mostly used and consumed form is the powdered form and is expected to grow in the forecast period.
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By application, red algae market can be segmented into food and beverages, medical and pharmaceutical, industrial applications, cosmetics and personal care industry. In the food and beverage industry, red algae are mainly used as a dietary supplement. Other than that it is used as an ingredient in the frozen foods, dessert gels, jams & jellies, pastry fillings, syrups, fruit juices, bakery icings, sauces and gravies, pimiento strips, cooked/ instant puddings salad dressings and Instant breakfasts. Red algae are also used in the dairy products such as skim milk, whipped toppings, milk shakes, chocolate milk, evaporated milk, cheeses, cottage cheese, flans and custards, infant formulas, yogurt, and ice cream. It is also used as baulking agents. In the medical and pharmaceutical industry, it is used for the manufacture of capsules, tablets, laxatives and ulcer products. Red algae in the industry are used for tertiary oil treatment, air freshener gels, enzyme immobilization, cleaners, chromatographic media, and electrophoretic media. In the cosmetics and personal care industry, red algae are used to make lotions and creams, shampoos and toothpaste.
By region, red algae market can be segmented into five different regions which include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Among all the regions, the western region of Europe has the largest production and consumption of red algae followed by U.S., Japan, Korea and China.
Red Algae Market Drivers, Restraints, and Trends
The Red Algae Market is gradually growing in the developed as well as in the developing region due to its nutritional and health benefits. Red algae are the most preferred dietary supplement for the consumers who are looking for weight loss diets, which in result is driving the market and is also expected to grow in the forecast period. Red algae contain high amount of protein, fiber, and minerals due to which manufacturers are attracted towards it as an ingredient in several products. Moreover, many researchers have represented red algae as the highest source of vitamin in the world. It helps improve the immune system by stimulating the function of leukocytes. It also stimulates interferon, which is a protein which protects the body from viruses. Red algae have also been proved to be the treatment of urinary tract infections, asthma, skin diseases, stomach disorders, obesity and high cholesterol levels. Owing to all these health benefits, red algae market is expected to grow on a higher scale in the forecast period.
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Red Algae Market Key Players
Owing to the benefits of Red Algae, several producers and players in the market are moving forward to manufacture and supply it. Some of the key players are TATCHA, LLC., Algea, SIMRIS ALG AB, Alga Technologies, AlgaeCan Biotech Ltd., Algix, LLC., and others.
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