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Microphytes Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2023-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

Microphytes Market Overview

Microphytes are aquatic plants that are typically smaller than 1 mm in diameter. Some microphytes have a single cell, whereas others have many cells. These plants can be found in both freshwater and saltwater. Many microphytes are photosynthetic and contribute significantly to the aquatic food chain.

Microphytes have a wide range of applications, including water purification, biofuel generation, and food for fish and other animals. From 2019 to 2024, the market for microphytes is expected to grow at a CAGR of 7.8%.

Water treatment with microphytes is a well-established method. Microphytes may remove a wide range of pollutants from water, including heavy metals, organic waste, and pathogens. This system is ideal for purifying wastewater from sectors such as textile, tanning, and food processing.

Microphytes are also capable of producing biofuels. These plants are capable of producing biodiesel, ethanol, and methane. Hydrogen can also be produced by microphytes. Microphyte-based biofuel generation is a relatively new technology that is predicted to increase greatly in the coming years.

Microphytes are a significant source of food for fish and other aquatic animals. These plants are high in protein, vitamins, and minerals. Microphytes are also an essential food source for filter-feeding species like oysters and mussels.

The global microphytes market is divided into three sections: type, application, and geography.

The market is classified into two types: freshwater microphytes and saltwater microphytes. Freshwater microphytes are further classified as diatoms, green algae, and blue-green algae. Red algae, brown algae, and green algae are the three types of saltwater microphytes.

The market is segmented into three applications: water treatment, biofuel production, and aquaculture. Water treatment is further classified as wastewater treatment and drinking water treatment. The biofuel production component is further subdivided into biodiesel, ethanol, and methane production.

2. Overview of the Market
Microphytes are aquatic plants that grow in both freshwater and saltwater habitats. They are a vital component of the aquatic food web and a source of food for many small aquatic species. Microphytes can also help eliminate excess nutrients from the water column and deliver oxygen to the water by photosynthesis.

Microphytes come in a variety of forms, including algae, bacteria, fungi, and protozoa. Some microphytes float freely, while others cling to submerged surfaces. Microphytes can be as little as a few micrometres or as large as several centimetres.

The market for microphytes is projected to expand in the future as more people become aware of the significance of these microscopic plants. The market is also being driven by rising demand for natural products that can aid in the improvement of water quality.

3. Market Forces
A variety of factors are predicted to drive growth in the microphyte market in the coming years. Three of the most important market drivers for this fascinating new industry are as follows:

1. Growing consumer interest in natural ingredients: Consumers are becoming more interested in natural products, and microphytes are about as natural as it gets. These microscopic creatures are already employed in a range of industries, including cosmetics and food and beverage, and demand is projected to increase in the coming years.

2. Growing understanding of the benefits of microphytes: Microphytes have several advantages over traditional components, and as this awareness rises, so will demand for microphytes. Many traditional components are less sustainable and efficient than microphytes, which can also provide novel capabilities and textures.

3. Expanding microphyte uses: As the market for microphytes expands, so will the number of applications for these tiny organisms. Microphytes are being used in a range of sectors, and new applications are constantly being explored. The possibilities are limitless, and the market for microphytes is projected to expand as more companies investigate the potential of these small creatures.

4. Market Restriction
The global microphytes market is expanding rapidly, but several constraints are impeding its expansion. The following are some of the primary constraints:

1. Lack of awareness among end users: There is a lack of understanding among end users about microphytes and their potential uses, which is limiting market growth.

2. Lack of standardisation: Because there is no uniformity in the production of microphytes, manufacturers struggle to provide consistently high-quality goods.

3. High production costs: Another key impediment to the growth of the microphytes market is the high production costs.

4. Strict government regulations: Strict government rules surrounding the usage of microphytes in the cosmetics and food and beverage industries are limiting market growth.

5. Market Possibilities
Microphytes are microscopic aquatic plants that play a vital role in lake and pond ecology. They are frequently the first creatures to colonise a freshly formed body of water, providing a substrate for other aquatic plants and animals. Microphytes can also help regulate water quality by absorbing nutrients and supplying oxygen.

The global microphytes market is predicted to expand in the future as people become more aware of the value of these microscopic plants in aquatic ecology. The growing demand for microphytes in the aquarium and aquaculture industries is also driving the market.

The following are some of the most important market potentials for microphytes:

1. Rising aquarium sector demand: Microphytes are frequently utilised in aquariums to provide a natural environment for fish and other aquatic species. They can also aid in water quality control by absorbing nutrients and delivering oxygen to the water.

2. Growing demand from the aquaculture industry: aquaculture uses microphytes as a substrate for fish and other aquatic animals. They can also aid in water quality control by absorbing nutrients and delivering oxygen to the water.

3. Growing demand from the water treatment industry: Microphytes can be utilised in water treatment plants to assist in the removal of nutrients and other contaminants from water.

4. Growing horticultural demand: Microphytes are used in horticulture to help control water quality and provide a substrate for plants.

5. Growing demand from the biotechnology industry: Microphytes are used in biotechnology for a variety of applications, including biofuel production, heavy metal removal from water, and cosmetics and pharmaceutical manufacturing.

Trends in the Market
During the forecast period, the worldwide microphytes market is expected to grow at a CAGR of more than 5%. The primary drivers driving the market’s growth include increased public awareness of the value of aquatic ecosystems and the role of microphytes in them.

Microphytes are an important component of the aquatic ecosystem and play a role in the food chain. They are key producers and serve as the foundation of the aquatic food web. They give food and shelter to a variety of aquatic organisms, as well as aid in the breakdown of organic materials. They also aid in the absorption of surplus nutrients from bodies of water, preventing water pollution.

The growing public awareness of the importance of aquatic ecosystems and the need to protect them is a major factor driving the growth of the microphyte market. Another key element driving the expansion of the market examined is the increase in the number of initiatives taken by the government and various organisations for the restoration of aquatic ecosystems.

However, the high cost of microphyte cultivation is a major impediment to the market’s growth.

The market for microphytes is projected to be driven by a rise in public awareness of the value of aquatic ecosystems and the need to preserve them. Another key element driving the growth of the market is the government and numerous organisations executing various projects for the restoration of aquatic ecosystems.

The high expense of microphyte cultivation is projected to limit the market for microphytes.

7. Competitive Environment
The microphyte market includes a wide range of products and services designed to meet the needs of clients. The market is tremendously competitive, and businesses are working hard to give their customers the greatest products and services possible. Companies compete on the pricing, quality, and features of their products and services, as well. The rivalry in the microphyte market is fierce, and companies are attempting to obtain a competitive advantage over their competitors.

8. Business Profiles
8 Business Profiles

1. The World of Aquatic Biota

Aqua Biota World is a Japanese corporation that specialises in microalgae research, development, and manufacturing. The company was established in 2001 and is based in Tokyo, Japan.

2. Chlorella Production

Chlorella Manufacturing is a Taiwanese firm that manufactures chlorella, which is a form of microalgae. The company was established in 2001 and is based in Taipei, Taiwan.

3. Corporation DIC

DIC Corporation is a Japanese manufacturer and distributor of chemicals, pigments, and dyes. The company was established in 1908 and is based in Tokyo, Japan.

Evonik Industries is a fourth company.

Evonik Industries is a German manufacturer and distributor of chemicals and materials. The company was established in 1873 and is based in Essen, Germany.

Fuji Chemical Industry No. 5

Fuji Chemical Industry is a Japanese chemical manufacturer and distributor. The company was established in 1949 and is based in Tokyo, Japan.

Kikkoman Corporation is No. 6.

Kikkoman Corporation is a Japanese manufacturer of soy sauce and other food items. The company was established in 1917 and is based in Tokyo, Japan.

Nitto Denko is the seventh company.

Nitto Denko is a Japanese manufacturer and distributor of adhesives, films, and other materials. The company was established in 1918 and is based in Osaka, Japan.

Toyobo (8)

Toyobo is a Japanese corporation that manufactures and sells textiles, chemicals, and other goods. The company was established in 1882 and is based in Osaka, Japan.

9. Finally,
The microphytes market is rapidly expanding and is expected to expand further in the coming years. This is because people are becoming more aware of the value of these organisms in the ecosystem and the need to safeguard them. The increased demand for microphytes in the aquaculture industry, as well as growing awareness of their relevance in the food chain, are projected to boost the market.

Key Players Covered:

The global microphytes market is fairly fragmented, with a number of regional players operating. Some of the key players in the microphytes market includes DIC Corporation, Focus Technology Co., Ltd., Algaetech Group of Companies, Cyanotech Corporation, Australian Spirulina, sjn AG, Fuqing King Dnarmsa Spirulina Co.,Ltd., Dongying Haifu Biology Engineering Co.,Ltd., Dongtai City Spirulina Bio-engineering Co., Ltd., and others.

Segmentation

ATTRIBUTE

 

  DETAILS
By Product type

 

 

    • Spirulina
    • Chlorella
    • Dunaliella Salina
    • Red Aphanocapsa
    • Others
By Application

 

 

    • Food
    • Feed
    • Pharmaceuticals
    • Biofuel
By Geography

 

 

    • North America (USA, Canada)
    • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
    • Asia Pacific (Japan, China, Taiwan, India, South Korea, Southeast Asia and Rest of Asia Pacific)
    • Latin America (Brazil, Mexico, Rest of atin America)
    • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

ATTRIBUTE

 

  DETAILS
By Product type

 

 

    • Spirulina
    • Chlorella
    • Dunaliella Salina
    • Red Aphanocapsa
    • Others
By Application

 

 

    • Food
    • Feed
    • Pharmaceuticals
    • Biofuel

DIC Corporation, Focus Technology Co., Ltd., Algaetech Group of Companies, Cyanotech Corporation, Australian Spirulina, sjn AG, Fuqing King Dnarmsa Spirulina Co.,Ltd., Dongying Haifu Biology Engineering Co.,Ltd., Dongtai City Spirulina Bio-engineering Co., Ltd., and others.

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