CHAPTER 15: Market Penetration, Potential and Sustainability of Algal Products
Published:10 May 2021
S. Jakhu, K. Sharma, and G. Kumar, in Microalgal Biotechnology: Recent Advances, Market Potential, and Sustainability, ed. A. Shekh, P. Schenk, and R. Sarada, The Royal Society of Chemistry, 2021, pp. 393-427.
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Algae of diverse genera, due to their complex metabolic capacities, are obtaining increasing focus from researchers in the field of algal-biotechnology. Although algal-derived products hold a firm grip in the market, the value of most of the algal products is currently low. However, the genetic improvements of algal feedstocks and innovative food ideas are opening up new platforms for algal products. The commercialization of algal products has provided new platforms for green alternatives to conventional fuels, foods, pharmaceuticals and other industrially important products. One half of the planet's photosynthesis is performed by algae; thus, these are the best candidates for economical and sustainable commercial feedstocks for a variety of products. The use of algae for food and other life supporting activities has evolved since the very origin of civilization and is still evolving. Varied organizations have emerged and are coming forward as industrial algal producers creating a competitive market for algal products. Market penetration potential has always remained an obstacle for novel algal products but can be overcome through sustainable commercialization of algae-based products that can lead to a strong bio-economy.