Fatpos Global has released a report titled “Microalgae Market - Analysis of Market Size, Share & Trends for 2021 – 2022 and Forecasts to 2032” which is anticipated to reach USD 2.2 billion by 2032. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 7.7% between 2022 and 2032. According to the market research study, growing demand of microalgae in personal care and cosmetics, food & beverages, pet products, dietary supplements, and growing technological advancements along with R&D activities are bolstering the market growth.
“Development of new strains with better ability to handle high salinity and enhanced energy efficiency coupled increasing awareness related to the benefits of using Microalgae and rising demand from end-use industries are fueling the market growth.”, said a lead analyst at Fatpos Global.
Algae are microorganisms that are found in aquatic habitats such as rivers, lakes, ponds, and oceans and can photosynthesis. Microalgae are unicellular microscopic algae that live in marine and freshwater. Microalgae are important for life on earth, as they perform photosynthesis which helps in reducing the concentration of carbon dioxide in the atmosphere. They convert sunlight, carbon dioxide, and water to algal biomass. Microalgae can be a rich source of bio-products such as proteins, vitamins, lipids, pigments, and antioxidants among others. They have a wide range of applications in dietary supplements, pharmaceuticals, food and beverages, and cosmetic & personal care.
Microalgae market is classified on the basis of type into Spirulina, Chlorella, Dunaliella Salina, and Others. Spirulina segment is dominating the market with the largest market share. The growth is attributed to the growing dietary supplement industry and growing awareness related to health and wellness. Spirulina has anti-oxidants, anti-inflammation, phenolics, and phycocyanins properties which induce its application in dietary supplements.
Some of the key players operating in the Microalgae Market are Cyanotech Corporation, Cellana Inc., DSM, Corbion, Algorithm, Algaecytes, Australian Spirulina, Algatech Ltd., Lyxia, BASF SE, Kuehnle AgroSystems Inc., ALGISYS Biosciences Inc., Euglena Co., Ltd., DIC Corporation, Allmicroalgae, and Other Prominent Players.
The latest market study conducted by Fatpos Global thrives to present an unbiased analysis of the Microalgae Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2022-2032. The study includes compelling insights into growth that is witnessed in the market. Microalgae market is classified on the basis of type into Spirulina, Chlorella, Dunaliella Salina, and Others. Microalgae market is classified on the basis of application into Food and Beverage, Dietary Supplements, Pharmaceuticals, Cosmetics and Personal Care, and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.
About Fatpos Global
Fatpos Global is a leading management consulting, advisory and market research organization that serves its clients globally by its team of experts and industry veterans that have years of expertise for management consulting, advisory and market research analysis. The organization functions across business consulting, strategy consulting, market research, operations consulting, financial advisory, human resources, risk & compliance, environmental consulting, software consulting and sales consulting amongst others, and aims to aid businesses with bold decisions that help them embrace change for their sustainable growth.
For more details, reach out to us@ info@fatposglobal.com
Get in touch today to find out about how Evalueserve can help you mprove your processes, making you better, faster and more efficient.
