Industry Insights

The market volume of algae production has surpassed the one billion US-Dollar mark - and continues to increase. In the last years, the number of algae research projects in the US has strongly increased, with most projects focusing on fuel production. Some companies believe that they are only a few years away from a commercial production of algae bio oil.

The future of the algae production is determined by the size of the market it serves. Up to now, a cost-efficient production of algae is only possible in high-end dietary supplements and cosmetics, as the market here is ready to pay the prices. Here growth rates are expected to reach 22-28% by 2025. With regard to fuel, the earliest large market for algae biofuels has been the US military. The US Navy is building a "Green Fleet" that will need domestically-produced biofuels. For this, the departments of energy, agriculture and the Navy have been plowing $510 billion over three years into research and commercial production efforts.

  Source: http://allaboutalgae.com/new-markets/

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