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Algae Products Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports
Algae Products MarketThe global Algae products market was valued at USD 2,276.0 Million in 2020, and is projected to reach USD 4286.8 Million by 2031, growing at a CAGR of 4.88% from 2022 to 2031.
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Algae Products Market by Type (Spirulina, Chlorella, Astaxanthin, Beta Carotene, and Hydrocolloids), Source (Brown Algae, Blue green Algae, Red Algae, and Green Algae), Form (Solid and Liquid), and Application (Food & Beverages, Nutraceuticals & Dietary Supplements, Personal Care, Feed, Pharmaceuticals, Chemicals, and Fuel): Global Opportunity Analysis and Industry Forecast, 2022?2031
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North America was the largest market for algae products in 2020, due to rise in population coupled with increased demand for food in the region. In addition, increase in health awareness and rise in disposable income in the countries such as China, India, and Japan boost the consumption of nutraceutical products, thus fueling the growth of the market.
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