Algae Market to Surge at a Robust Pace in Terms of Revenue Over 2024
The global algae market is predicted in a report by Transparency Market Research (TMR) to bear a largely consolidated vendor landscape with three key players securing a colossal aggregate share. Sapphire Energy Inc., Algenol, and Solazyme Inc. are the three companies that have showcased their prominence in the market. In order to cement their place in the market, players are expected to put high emphasis on building strong distribution channels. Other players such as Pond Biofuels Incorporated and Algae.Tec are looking to make their presence known in the market. TMR foresees the global algae market to expand at a 7.39% CAGR during the forecast tenure 2016-2024 to earn around US$1.1 bn by the end of 2024. By cultivation technology, open pond cultivation could continue to generate higher demand in the market. By region, North America is anticipated to take the lead in the market. In 2016, the U.S. accounted for an 87.6% share of the regional market by value. Alarming Inc...