Trends and statistics of the microalgae market development

Microalgae are marine and freshwater microorganisms consisting of a single eukaryotic cell. As of 2019, 30 thousand tons of dry weight of all microalgae biomass are produced annually worldwide. The main advantages of microalgae are the properties and content of useful trace elements such as glutamic acid, which is the basis of food for brain cells, beta-carotene, which normalizes cholesterol levels and opens the membrane communication channels of cancer and precancerous cells. The main growth constraints affecting the microalgae market are associated with the high cost of cultivation, the high risk of water contamination and evaporation, which negatively affects the environment. The trends of the microalgae market are reduced to the reduction in the cost of crop cultivation technologies and the expansion of the growing area.The article also provides an analysis of the market and its regional segmentation in such countries as the United States, China, Japan, and Russia. Thus, this paper summarizes the reasons for the growth of the microalgae market, the factors that hinder the dynamic development, the trends of this business and the segmentation of production by region.