Wageningen UR, together with Ghent University, has conducted a study into market potential and development in relation to algae products. This study, a part of the EU Energetic Algae Project, mentions several relevant markets for business cases involving algae.
The study consisted of research into various market segments. Market size, competitive alternatives, market developments and prices were documented for each market segment.
Exploring new markets for algae
For each market segment, market characteristics allowed the researchers to draw conclusions about the potential for marketing algae products. Marcel van der Voort, one of the report’s authors: “By describing the opportunities for each market segment we hope to inspire the companies that produce algae to explore new market segments – segments they have not yet discovered – in which the type of algae they produce could be of added value.” In addition, the research also provides information for companies who are thinking about the type of algae they would like to produce and about the production methods that would fit in with legislation effective in that market segment.
The aim of the Energetic Algae Project is to help reduce CO2 emissions and North Western Europe’s dependence on fossil energy. The project hopes to achieve this by stimulating the development of sustainable technologies for producing algal biomass, bio-energy generation and fixing greenhouse gases. That is why the researchers are working on creating test installations which can be applied in practice and on marketable products, processes and services. This requires bringing together technical know-how, financial means and political support.
If you would like to know more about relevant markets for algae,
go to the full report.