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Microalgae-based Market

MICROALGAE-BASED MARKET

Microalgae-Based Products Market

These are some examples of applications.

Spirulina or Arthrospira is a blue-green algae that became famous after it was successfully used by NASA as a dietary supplement for astronauts on space missions. It has the ability to modulate immune functions and exhibits anti-inflammatory properties by inhibiting the release of histamine by mast cells.

Multiple studies continue to investigate the efficacy of using Spirulina in clinical applications including a potential role as an anticancer, antiviral and antiallergic agent.

The photosynthetic cyanobacteria Arthrospira sp.,commonly known as Spirulina sp., has been mainly studied and commercialized due to its high protein synthesis capacity, that can reach up to 70% of the cell mass (Soni, Sudhakar, & Rana, 2017). Spirulina sp. is also known to synthesizesynthetize C-phycocyanin (phycocyanin from cyano-bacteria, C-PC), a blue and water-soluble pigment. Besides being used as pigment in food products formulation (one of the limited choices for natural light blue colored dyes), the interest in C-PC has been increasing due to its antioxidant, anti-inflammatory, and anticarcinogenic activities (Chentir et al., 2018; Fernandez-Rojas, Hernandez-Juarez, & Pedraza-Chaverri, 2014).

However, there are still limitations for C-PC application mainly due to the extraction methods, that result in low purity extracts, and low stability of the pigment under storage and during food processing

Spirulina has a 62-percent amino acid content, mixed carotenoids and xanthophyll phytopigments, a high concentration of vitamin B12, immunoregulatory polysaccharide components such as b-glucan, and abundant amounts of gamma linolenic acid, which plays a critical role in inflammatory processes.

MICROALGAE-BASED MARKET

Target Clientele

  • Food processors and producers looking to incorporate Spirulina in their foods to increase protein and overall nutrient content.
  • Consumers prepared to purchase and eat foods with spirulina algae as an ingredient.
  • Retailers prepared to sell baked goods with spirulina algae as an ingredient.
  • Folks who follow non-traditional diets looking for same-tasting alternatives for snack foods.
  • Retailers who sell healthy snack foods.
  • Food processors and livestock operators prepared to incorporate algae as a feed supplement to enhance animal nutrition.
  • Livestock operators prepared to incorporate the algae as a nutrient supplement.
  • Aquaculture industry, which is in demand for live biomass.
  • Cosmetic, nutraceutical, pharmaceutical companies with interest to incorporate spirulina as a formulation ingredient.
  • Companies interested in sustainability, carbon sequestration, GHG mitigation, Direct Air Capture (DAC) of carbon.
  • Production and low carbon fuels.
targeted clients

Current State and Potential

While research efforts will continue to bring down the production cost of algae to $20/kg, because of the value intrinsic to spirulina, current market value ranges from under $10/kg to more than $1000/kg for specific purified extracts. 

Origin and quality of product play a significant role in pricing. However, the fact remains that there is already a global market in place for this crop. This is also an opportunity to attract much higher market value while scaling operations to achieve economies of scale. Over time with increases in global production this will enable the price of spirulina protein to decrease.

  • New Canadian Technology

Cultivation of this extraordinary, high value, high protein spirulina algae crop in Canada requires the development of a complex photobioreactor technology that enables the crop to be harvested continually or in batches every few days at much higher yields than produced by conventional open raceway pond systems found in temperate climates.

Global demand for edible spirulina algae valued at nearly $400 million in 2019 is projected to more than double by 2027 (CAGR of 10.5%). Microalgae-based products have been forecast to grow at 7.9% CAGR between 2021-2028 to $2.8 billion related to pharmaceutical and nutraceutical sectors. This is up from $1.5 billion in 2020. Furthermore, the cultivation of algae via photobioreactors has the ability to expand agricultural crop production because it does not require the use of existing arable farmland. There are only a few producers of this algae currently in Canada.

Globally, algae cultivation is increasing at an extraordinary pace. If we follow the consensus of many traditional cultivators of algae based on open raceway ponds, Canada will have no hope of competing in this emerging and exciting agricultural sector. 

Although there are regions across Canada with great solar irradiance with large tracts of land and water to support open pond cultivation systems, our colder climate would preclude us from competing on an economic basis since production would occur across four to six months of the year rather than year-round in more temperate climates.

Numerous plant-based protein crop alternatives are currently cultivated across Canada. To be globally competitive and for Canada to become a major protein producer and exporter, production costs must be kept below $20/kg protein.

Economic benefits from protein production, are accompanied by greenhouse gas (GHG) mitigation and through sale and licensing of the technology to algae producers globally. The technology has potential for enhanced economic benefits in Canada’s green carbon economy.

Algae against Climate Change

Given the rate of growth of algae, doubling of biomass every couple of days, this extraordinary growth requires CO2 as a key nutrient. Every kg of dry algae produced requires 1.8 kg of CO2. Therefore, this crop has a significant and positive environmental GHG impact. Where emphasis in this project is focused on production of protein, similar to other crops, the biomass can also be diverted into the production of low carbon biofuels and bioplastics.

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RESEARCH

Current Research Focus

Maybe link to goals and objectives
  • Commission of 100 L photobioreactor (PBR) system
  • Design and construction of 1m3 PBR
  • Flashing light and light spectrum optimization studies
  • Mass gas transfer between phases
  • Nutrient optimization
  • Renewable energy integration
  • Algae harvesting operations
  • PBR operational optimization strategies
  • Application of machine language (ML) and artificial intelligence (AI) for cultivation optimization
  • PBR system energy management optimization
  • Protein extraction research
  • Food recipe development
  • Process automation

This project aims to scale to a commercial level of a 10m3 and to fully automate and optimize system processes from cultivation through to harvesting, drying, and storage.

The next step in scale up operations will be to design / construct a 1m3 PBR algae cultivation platform.

Increase yield

Therefore, research efforts must include emphasis on reducing the energy input costs.