Microalgae Market Size to Grow at a CAGR of 5.4% from 2021 to 2028

As per the report published by Allied Market Research, the global microalgae market was accounted for $977.3 million in 2020, and is estimated to reach $1.48 billion by 2028, growing at a CAGR of 5.4% from 2021 to 2028.

Rise in vegan population to strengthen product adoption, high protein concentration as compared to counterparts, multiple benefits of microalgal protein drive the growth of the global microalgae market. However, impact on spirulina production due to climate change, presence of large number of alternatives for protein and low product awareness hinder the market growth. On the contrary, technological innovations and algae protein-fortified food are expected to open new opportunities for the market players in the future.

Absolutely Free | Download Sample Report @: https://www.alliedmarketresearch.com/request-sample/13788

Based on type, the spirulina segment held the largest share in 2020, accounting for more than two-fifths of the market. In addition, the segment is projected to manifest the highest CAGR of 5.9% during the forecast period. The report includes an analysis of other segments such as chlorella, dunaliella salina, and aphanizomenon flos-aquae.

Prominent Market Players

The players operating in the global microalgae market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include include Algenol Biotech, Cellana Inc., Cyanotech Corporation, DIC Corporation, E.I.D Parry ltd, Fuqing King Dnarmsa Spirulina Co. Ltd., Kent BioEnergy Corporation, Taau Australia Pty Ltd., Holdings, Inc. and Astareal AB.

Request For Customization: https://www.alliedmarketresearch.com/request-for-customization/13788

Region wise, North America dominated the microalgae market size in 2020, and is expected to sustain its dominance throughout the forecast period. The key factors driving microalgae market growth in the region include rise in awareness of nutritional values of microalgae in cosmetic, dietary supplements and food/feed industries. Also, the rise in disposable income and health and wellness contributes to the market growth.

Key Benefits For Stakeholders

-> The report provides a quantitative analysis of the current microalgae market trends, estimations, and dynamics of the market size from 2020 to 2028 to identify the prevailing opportunities.
-> Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
-> In-depth analysis and the market size and segmentation assist to determine the prevailing microalgae market opportunities.
-> The major countries in each region are mapped according to their revenue contribution to the market.
-> The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the microalgae industry.

Explore More - https://www.alliedmarketresearch.com/microalgae-market-A13419

Check out more related studies published by AMR Research:-

Haddock Market - https://www.alliedmarketresearch.com/haddock-market-A15850

Cotton Seed Market - https://www.alliedmarketresearch.com/cotton-seed-market-A10621

Feed Amino Acids Market - https://www.alliedmarketresearch.com/feed-amino-acids-market-A11046

Contact:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

USA/Canada (Toll Free):

+1-800-792-5285, +1-503-894-6022

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1(855)550-5975

help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com

Follow Us on | Facebook | LinkedIn | YouTube

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.