[Global] Budding superfood algae could spawn a market worth close to $47 billion by 2023, according to a report from Fish 2.0, a platform aimed at increasing investment in the sustainable seafood sector. Fish 2.0 says potential markets for algae range from high-value/low-volume categories such as cosmetics, nutritional supplements, and medicines to more low-value/high-volume categories like biofuel, foods or feed.
Emerging markets may well benefit here.
“With relatively low requirements for capital and expertise, seaweed farming is ideal for developing economies,” says Fish 2.0 in a new report. “Competitive advantage comes from growing locations that have desirable conditions for certain species.”
Algae remain relatively unexplored and uncultivated, offering opportunity for functionality enhancement. “Because of their high species diversity, algal products could be selected for highly specialised requirements,” adds Fish 2.0.
Belgium-based algae producer TomAlgae says it is close to launching a new product for oyster growers in Asia in time for the October season. Oyster hatcheries need algae to feed oyster larvae for the first two months of an oyster’s life. The company’s Nevele production unit is the world’s first algae production facility dedicated solely to aquaculture feed.
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