Chapter 10: Microalgal Product Basket: Portfolio Positioning Across Food, Feed and Fuel Segments with Industrial Growth Projections

Microalgae have occupied a significant place in the global bio-business offering a variety of product portfolios to different market sectors such as food, nutraceuticals, animal feed, cosmetics, agriculture and bioenergy. The ability to grow in non-arable land and adapt to wide environmental conditions make them an industrially attractive feedstock. In recent years, a positive trend is observed with the incorporation of microalgal metabolites in a variety of product portfolios. The microalgae bio-business is projected to reach USD 1.8 billion in the next five years. However, there is a large demand and supply gap that microalgae need to cater to. A critical review on various product portfolios that microalgae cater to and their markets is necessary to understand the business opportunity and further scope. In this context, the present chapter summarizes various applications of microalgae along with examples of commercialized products and their market claims in five major sectors, viz., food and nutraceuticals, animal feed, cosmetics, agriculture and bioenergy. Further, the chapter summarizes major challenges faced in the commercialization of microalgal products along with a SWOT analysis for evaluating the critical gaps in commercialization. The chapter offers a bird's eye view on the applications of microalgae in various sectors and a way forward for future research.