Press release
Microalgae-based Products Market to Exceed Valuation of US$ 4.2 Bn by 2031
Transparency Market Research delivers key insights on the global microalgae-based products market. In terms of revenue, the global microalgae-based products market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global microalgae-based products market.
๐๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ -https://www.transparencymarketresearch.com/microalgae-based-products-market.html
The global microalgae-based products market is broadly affected by several factors, including usage of microalgae-based products in various applications such as food & beverages, nutraceuticals, personal care, pharmaceuticals, chemical, fuel, animal feed, and others.
๐๐ข๐๐ซ๐จ๐๐ฅ๐ ๐๐-๐๐๐ฌ๐๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ: ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ
These products are also employed as supplements in daily diet. The increase in inclination for microalgae-sourced omega 3 fatty acid is driving the consumption of microalgae-based products. This is expected to boost the global microalgae-based products market during the forecast period.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐ -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=54039
The demand for microalgae-based food products is rising significantly in the manufacture of whole-biomass products (also known as 'super foods') due to nutritive value, high protein content, and health benefits offered by microalgae-based products. This is major factor expected to boost the adoption of these products in the manufacture of functional food products. In turn, this is estimated to drive the global microalgae-based products market.
The rise in the demand for dried microalgae, such as chlorella and spirulina as food supplements is projected to augment the global market during the forecast period. Increase in mergers and acquisitions by major players in order to develop various microalgae-based food supplements is another factor that is likely to propel the global microalgae-based products market in the near future.
๐๐ข๐๐ซ๐จ๐๐ฅ๐ ๐๐-๐๐๐ฌ๐๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ: ๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐๐ ๐ข๐จ๐ง๐ฌ
Europe dominated the global microalgae-based products market in 2020. The region possesses specific structural economic and logistical assets that boost its position in micro-algae research and applications. Microalgae are being promoted as a new source of valuable nutrients for human and animal consumption in Europe. Microalgae-based products are employed in niche applications such as life sciences. The Netherlands-based DSM, a chemical company, has a strong position in the life sciences segment. Microalgae-based pharmaceutical products are expected to gain traction in the near future.
๐๐๐ค๐ ๐๐ง ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=54039
Countries in Europe aim to source 10% of transport energy from renewable resources, primarily from biofuels by the end of 2020. A large share of fuels is utilized in transportation application in the region, owing to the high demand for luxury vehicles, commercial trucks, and motorcycles. This is projected to boost the demand for microalgae-based products in countries such as Germany, Switzerland, and the Netherlands.
The European Union is promoting the adoption of renewable energy through its policies. It is currently a prominent region for renewable energy and is expected to continue to be a dominant region over the next few years. Investments by renewable energy players based in Europe represent about 25% of the investments in renewable energy worldwide. This is anticipated to drive the demand for microalgae-based products in the region.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=54039
๐๐ข๐๐ซ๐จ๐๐ฅ๐ ๐๐-๐๐๐ฌ๐๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ: ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
The global microalgae-based products market is fragmented with the presence of a large number of players. Key players operating in the global microalgae-based products market are EID Parry Ltd., euglena Co, Ltd, Cyanotech Corporation, AstaReal Group, BlueTech International GmbH., Far East Bio-Tec Co., Ltd, Cellana Inc., Ocean Nutrition, Algae Health Sciences - A BGG Company, Earthrise Nutritional, NOW, Necton, Algae International Berhad (AIB), and Proalgen Biotech Ltd.
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants.
The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ
Rohit Bhisey
Transparency Market Research Inc.
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