Algae industry/Commercialization

The global algae market is estimated to witness gradual development across the globe because not all of the algae oil production facilities are commercialized fully. Rising concern over the emission of greenhouse gases is likely to escalate the adoption of renewable sources of energy. Algae are one such prominent source of energy. 

Arise in the demand for algae-based biofuels in aviation, marine, and road applications is likely to fuel growth of the market. Furthermore, algae also find increasing use in the production of biodegradable plastics. Such varied uses are predicted to work in favour of the global algae market.

Algae have gained significance in various industries like biofuels, food and beverage, pharmaceuticals, cosmetics and many other sectors. Algae have recently gained prominence in the environmental and sustainable energy technology. The benefits of algae make it an ideal choice for a wide variety of products. Some of the benefits of algae are as follows.