Microalgae Fertilizers Market Size & Share, by Species (Spirulina, Chlorella, Euglena & Nanoparticles, Nostoc, Special Type); Source, End-use - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Growing demand for organic food – The increasing trend of organic food and products has increased the demand for microalgae fertilizers. According to the US Department of Agriculture, in 2020, 56% of the organic food sold to customers was sold in conventional grocery stores, club stores, and supercenters. High photosynthetic efficiency, the ability to thrive in non-potable waters like industrial effluents, and the capacity to adjust metabolite biosynthetic pathways in response to changing environments make microalgae an essential industrial feedstock. Certain microalgae species, including Spirulina, Chlorella, Dunaliella salina, and others, have been utilized as a sustainable source of food, nutraceuticals, animal feed, and agrochemicals. Genetically modified organisms (GMOs) and synthetic chemicals are absent from these fertilizers.
• Growing technological advancements in microalgae cultivation techniques – High-value chemicals found in microalgae are well-known, as is their important role in sequestering carbon dioxide. A few of the cutting-edge techniques for growing microalgae include attached cultivation and co-cultivation, which can enhance the growth and proliferation of algal cells, biomass yield, and lipid accumulation in microalgae.
  
  Also, according to the National Institute of Health, it has been discovered that other strategies, like enhancing phosphorus or CO2 fixation and temperature adaptability, are less successful. Additionally, interactions with specific bacteria may encourage the growth of microalgae; nevertheless, to prevent culture failure, bacterial and grazer contaminations must be controlled.
• Increased support from the government – The use of fertilizers based on microalgae is largely driven by government initiatives. Sustainable agricultural techniques are actively supported by numerous governments through a variety of initiatives, including laws, subsidies, and policies.
  
  As part of their efforts to promote sustainable agriculture, these governments support the use of fertilizers that are beneficial to the environment. For instance, through the common agricultural policy (CAP), the European Commission promotes sustainability in rural and agricultural areas throughout the European Union.

Challenges

• Intense competition from chemical fertilizers – Due to their extensive use, established microalgae fertilizers market presence, and frequently lower initial cost, traditional chemical fertilizers pose a serious challenge to the microalgae fertilizers business and could discourage the adoption of microalgae-based alternatives.
• Regulatory complexities – Companies in the microalgae fertilizers market may face obstacles to entrance or compliance issues as a result of changing regulatory environments and stricter criteria for fertilizer products, which could impede market expansion.