Redding, California, April 08, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled “Dunaliella Salina Market by End User (Extraction Companies, Food & Beverage Companies, Feed Companies, Nutraceutical & Health Supplement Companies, Pharmaceutical Companies, Cosmetics Companies) and Geography — Global Forecast to 2027,” the Dunaliella salina market is expected to reach $117.6 million by 2027, at a CAGR of 3.9% during the forecast period 2020 to 2027. Also, in terms of volume, the Dunaliella salina market is expected to record a CAGR of 3.6% from 2020 to 2027 to reach 1,629.1 tons by 2027.
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Dunaliella is a genus of the algae family Dunaliellaceae. Dunaliella salina is a unicellular, green, halophilic microalgae species generally found in environments with high salt concentration. Dunaliella salina’s rich nutritional profile of high quantity antioxidants along with a vast spectrum of vital phytonutrients makes it an active ingredient in the nutritional supplements and cosmetics industries. Natural beta-carotene from Dunaliella salina contains pro-vitamin A, which is converted to retinol (Vitamin A) in the body as required. Moreover, it contains all-trans beta-carotene and the equivalent stereoisomers, 9-cis, 13-cis, and di-cis beta-carotenes in equal amounts. 9-cis beta-carotene is of particular nutritional and medical interest as a retinoid precursor, RXR. Moreover, Dunaliella salina is in high demand for its therapeutic effects in several macular diseases.
The Dunaliella salina market is mainly segmented based on end user and geography. The study also evaluates industry competitors and analyzes the market at the country level.
The Impact of COVID-19 on the Dunaliella Salina Market
The COVID-19 pandemic has adversely hit many economies around the world. Combat measures such as nationwide lockdowns and quarantines to fight the pandemic have adversely impacted many industries. Many food & beverage manufacturers worldwide continue to feel the impact of COVID-19. Social distancing, self-isolation, and citywide lockdowns have forced many establishments to close down in countries across Asia, the U.S., Europe, and the rest of the world. In the U.K., the U.S., and Australia, supermarket chains have started enforcing new rules to curb panic buying, while supply chains and factories have implemented additional health and safety measures to keep consumers safe. Moreover, the manufacturers of consumer food & beverage products are facing significantly reduced consumption as well as disrupted supply chains. The food & beverage industry has witnessed a slight decline due to the lockdowns imposed across various countries. This scenario has also negatively impacted the confectionery industry since people are buying only the most essential products. Government bodies have passed various rules and regulations to control the purchase of essential goods. The majority of the consumers are buying essential products, which has caused a rapid decline in the consumption of confectionery items. According to the trade organizations in the nutritional products industry, there has been a significant impact on many points in the global supply chain for functional foods and dietary supplements, which has, in turn, lowered the consumption of Dunaliella salina biomass among end users, thereby impacting the Dunaliella salina market.
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Dunaliella salina sales registered a strong slowdown in the first quarter of 2020 due to disruptions in logistics and transportation. The market witnessed interruptions in the entire value chain of the sector from raw materials supply for culture media to production, packaging, and distribution of the final Dunaliella salina biomass.
The impact of the COVID-19 pandemic on this market was first felt in 2020 in China, one of the world's largest producers and consumers of Dunaliella salina, globally. Factory closures and Dunaliella salina production plants operating at reduced capacities in China, and restrictions on the export and import of natural beta-carotene and other carotenoids mainly extracted from the Dunaliella salina microalgae and raw materials, particularly culture medium for Dunaliella salina cultivation to and from China’s restricted areas affecting supply chains have strongly impacted the production, sales, and operations in the algae industry. Moreover, the pandemic is also expected to adversely affect the Dunaliella salina market in many countries globally, including the U.S., India, Australia, Brazil, and the EU-5 countries. Under the countrywide lockdown in India, many commercial Dunaliella salina production facilities have shut down or are operating at reduced capacities, leading to substantial losses in domestic Dunaliella salina production.
Moreover, the algae industry in Southeast Asia is facing challenges because of the growing severity of the coronavirus pandemic, impacting the distribution of Dunaliella salina and its ingredient (beta carotene) within and across markets in the Asia-Pacific region. Although Malaysia is under lockdown, algae production facilities have been given clearance to continue operations as algae are considered essential in the food & beverage, pharmaceutical, nutraceutical, and cosmetics & personal care industries. However, the lockdown has posed logistical challenges for suppliers in the Dunaliella salina market both within the country and across the border in Thailand.
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In Vietnam, algae production facilities are operating at normal levels without disruptions in the distribution chain for algae products. However, the market is becoming increasingly challenging, as distributors are unwilling to do business amidst the coronavirus pandemic. In Thailand, the production and supply chain distribution of Dunaliella salina products remains unaffected despite various measures implemented for virus containment. Increasingly tight port restrictions in the Philippines may negatively impact the Dunaliella salina market in the country.
Thus, halted transportation & logistics and reduced production in some countries due to the lockdowns imposed across many countries worldwide are projected to adversely affect the Dunaliella salina market in terms of sales volumes and market revenue in 2020 and 2021.
Key Findings in the Dunaliella Salina Market Study:
Based on the end user, the Dunaliella salina market is mainly segmented into extraction companies, food & beverage companies, feed companies, nutraceutical & health supplement companies, pharmaceutical companies, and cosmetics companies. The extraction companies segment commanded the largest share of the overall Dunaliella salina market in 2020. This segment is also expected to record the highest CAGR during the forecast period because of the growing demand for carotenoids, including beta-carotene, alpha-carotene, zeaxanthin, lutein, and cryptoxanthin in the manufacture of food & beverage, cosmetics, animal feed, and dietary supplements, among other products.
Geographically, Asia-Pacific region commanded the largest share of the overall Dunaliella salina market in 2020, followed by North America and Europe. The leading position of the Asia-Pacific region in the Dunaliella salina market is primarily attributed to the presence of several local and regional players, various government initiatives to promote the use of algae in several industries, and the rising demand for natural food ingredients and processed food products in emerging and developing countries including India, China, Indonesia, and Thailand. However, Europe is expected to register the highest CAGR during the forecast period mainly due to its huge food & beverage industry, strict regulations against the use of synthetic colorants, the growing health and wellness trend, the huge demand for natural colorants from various end-use industries, and rising government focus on the algae industry in the region.
The major players operating in the global Dunaliella salina market are Algalimento SL (Spain), Seagrass Tech Private Limited (India), Plankton Australia Pty Ltd (Australia), Hangzhou OuQi Food co., Ltd. (China), Shaanxi Rebecca Bio-Tech Co., LTD (China), Nutragreenlife Biotechnology Co., Ltd. (China), IBR Ltd. (Israel), Xi’an Fengzu Biological Technology Co., Ltd. (China), Monzón Biotech S.L. (Spain), A4F – Algafuel S.A. (Portugal), and Fuqing King Dnarmsa Spirulina Co., Ltd. (China), among others.
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Scope of the Report
Dunaliella Salina Market, by End User
- Extraction Companies
- Food & Beverage Companies
- Feed Companies
- Nutraceutical & Health Supplement Companies
- Pharmaceutical Companies
- Cosmetics Companies
Dunaliella Salina Market, by Geography
- Asia-Pacific
- China
- Australia
- Japan
- India
- RoAPAC (Rest of Asia-Pacific)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- RoE (Rest of Europe)
- Latin America
- Brazil
- Mexico
- Argentina
- RoLATAM (Rest of Latin America)
- Middle East & Africa
- Israel
- RoMEA (Rest of the Middle East & Africa)
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