NEW YORK, Nov. 21, 2016 /PRNewswire/ -- This research study analyzes the market for algae in terms of revenue (US$ Mn) and volume (tons). The algae market has been segmented on the basis of application, cultivation technology, and geography. The geographical segmentation includes regions, which are further divided into 15 countries. The report features a detailed regional segmentation with market growth forecasts for the years from 2016 to 2024. 2015 has been considered the base year and 2016 the estimated year, while all forecasts have been given for the period from 2016 to 2024. Market data for all the segments has been provided at the regional and country-specific levels from 2016 to 2024. The report provides a broad competitive analysis of companies engaged in the development of algae cultivation technologies. The report also includes key market dynamics such as the drivers, restraints, and opportunities affecting the global algae market. These are analyzed in detail and illustrated in the report with supporting graphs and tables. The report also provides a comprehensive analysis of the market with the help of the Porter's Five Forces Analysis model, which helps in understanding the factors that affect the structure and profitability of the global Algae market. These are the bargaining power of buyers, the bargaining power of suppliers, the threat of new entrants, the threat of substitutes, and the degree of competition. The high-level analysis in the report provides detailed insights into the algae business globally. There are currently numerous drivers for the market. The most prominent drivers include renewable energy growth, energy scarcity, and stringent government regulations to minimize carbon emissions. Market attractiveness analysis was carried out for the algae market on the basis of application, cultivation technology, region, and country. Market attractiveness was estimated on the basis of common parameters that directly impact the market.