Chapter 45 - Global market opportunities for food and feed products from microalgae

Abstract

This chapter focuses on the evaluation of microalgae-based food and feed products and their global market opportunities. An overview of algae-based food and feed products and their uses, as well as a very brief global market scenario, has been presented. Microalgae with the potential for food and feed products, the formation of those materials, and their sustainability issues have been explained. An initial investigation has been done to conduct a meaningful global market analysis of microalgae-based products. The global market analysis has been done to determine the current market values of microalgae and a projection for the future with a certain CAGR (compound annual growth rate). The global microalgae-based market opportunities have been described based on the use of microalgae in fish, animal, poultry, and human food products, also considering their use as cosmetics, nutraceuticals, and pharmaceuticals. Finally, the potential challenges hindering global microalgae-based market opportunities have been discussed, especially scientific, operational, and external factors. The technical and nontechnical factors affecting global microalgae market opportunities have been explained. The ethical issues related to marine food and algae-based products have been presented. Integrating all discussion and analysis, it is clear that microalgae-based products are eco-friendly and organic, with a diversified use in food, nutrition, and medical sectors. To ensure a viable algae-based global market, it is very important to identify the potential challenges related to the supply chain management of algae-based product processing and marketing. Future prospects of global microalgae-based market opportunities and recommendations for further work have also been added.