According to Future Market Insights (FMI), the demand for microalgae in the fertilisers sector is expected to expand steadily. Its total market value is predicted to exceed US$ 28.7 million by 2033, up from US$ 11 million in 2023. The demand for microalgae in the fertilisers sector is expected to increase at a 10% CAGR from 2023 to 2033.
Microalgae is a naturally occurring biological substance that produces energy from freshwater or the ocean. Different species are learning about the water retention and nutritional activities of various soil profiles.
For many years, they have been used successfully on cereal crops as liquid preparations and powdered extracts as soil conditioners, enhancing crop yield, increasing nutrient uptake, and improving herbicide tolerance.
Dry algae is also becoming popular as compost because it aids in soil bonding, making it ideal for use as a bio-fertilizer. Because dry algae is an organic material, it may store nutrients and supply them to plants via capillary action for a longer period of time.
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Chemical fertilisers used in the past dissolve in water and sink far into the soil. As a result, nutrients in fertilisers gradually become inaccessible. Fertilisers made from microalgae are utilised to address this issue. Additionally, it boosts the soil’s ability to store water and the distance between soil molecules, allowing for adequate root system aeration.
Consumer preference for organic and environment-friendly fertilizers to enhance crop yield along with increasing concerns about sustainability drive the demand for microalgae in the fertilizers industry. Rising concerns pertaining to reduced soil salinization, greenhouse emissions, and abiotic stress in agriculture are driving the demand for natural ingredient-based fertilizers, supporting the incorporation of microalgae.
Growing Applications of Microalgae Residue
Cyanobacteria and microalgae have numerous applications and are a significant source of bioactive compounds. Generally, microalga is a rich source of essential macro and micro-elements, which can be used as a protein source in food, feed, and fertilizer applications.
Microalgae contain lipids, carbohydrates, and proteins. Lipids extracted from algae are rich in oxygen (O) (26.3%), C (49.0%), N (5.76%) and hydrogen (H) (6.96%).
Untreated microalgae and microalgae biomass are rich in organic matter and macronutrient contents. This supports soil fertility, which in turn helps consumers to gain higher crop yield. Moreover, the cost of microalgae is comparatively low. Therefore, several fertilizer manufacturers utilize algae waste in their products.
Who is Winning?
Key players who are engaging in producing and supplying microalgae in fertilizers sector are actively involved in changing market strategies and expanding production capacities to keep up with the demand for microalgae in the fertilizers sector.
Some of the key players operating in microalgae demand analysis in the animal feed sector include DIC Corporation, Cyanotech Corporation, Koninkliijke DSM NV, Roquette Frères, BASF SE, Fuji Chemical Industries Co., Ltd., Parry Nutraceuticals, BGG (Beijing Gingko Group), KDI Ingredients, Sinoway Industrial Co., ltd., INNOBIO Corporation Limited, Yunnan Alphy Biotech Co., Ltd, Algaecan Biotech Ltd., Algatechnologies Ltd., Cardax, Inc, Igene Biotechnology, Inc., Fenchem Biotek Ltd., AstaReal Inc., Valensa International, Kunming Biogenic Co., Ltd., and many others.
Demand for Microalgae in Fertilizers Sector by Category
By Species Type:
- Spirulina
- Chlorella
- Dunaliella
- Schizochytrium
- Euglena
- Nannochloropsis
- Nostoc
- Others
By Source:
- Marine water
- Fresh Water
By End Use Application:
- Biofertilizers
- Biocontrole
- Soil microalgae
- Biostimulants
- Fungicide & Insecticide
- Pesticide
- Soil Conditioner
- Agriculture Herbicide
- Animal Repellent
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Key Questions Answered in the Report
- What is demand for microalgae in fertilizers sector market size?
Propelled by improvements in research and development and emerging technologies in the fertilizers sector, the global demand for microalgae in fertilizers sector will surpass US$ 9,479.4 Thousand in 2021 and it is also expected to surpass US$ 21,747.6 Thousand by 2031.
- At what rate did the demand for microalgae in fertilizers sector expand in the last five years?
According to FMI’s analysis, demand for microalgae in fertilizers sector sales have grown at 6.6% CAGR between 2016 and 2020. The market’s valuation stood at over US$ 8,805.2 Thousand in 2020.
- What are the key trends shaping the demand for microalgae in fertilizers sector?
Key trends shaping the market include growing environment-friendly and sustainable agricultural practices. Organic farming will continue fuelling the demand for microalgae in the fertilizers sector across the forecast period. High biotechnology potential for soil research is driving consumer attention.
- What are the key factors driving demand for microalgae in fertilizers sectors?
Growing requirements of soil conditioners, efforts to improve abiotic stress tolerance to improve crop yield and stability of soil drive the demand for microalgae in fertilizers sector over forecast period.
- What are the statistics of microalgae demand in the North America fertilizer sector?
Demand for microalgae in the fertilizer sector in North America is set to rise, aided by the demand for bio-fertilizers across the U.S. and Canada. As per FMI research, North America will hold 34.3% of the global demand in 2021.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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