Press release
Microalgae Market Size, Share, & Forecast 2030
[Redding, California - Feb 09, 2024] - Meticulous Research®, a renowned global market research leader, unveils its latest research report titled, 'Microalgae Market by Type (Spirulina, Chlorella, Dunaliella Salina, Nannochloropsis), Production Technique (Ponds, Fermenters, PBR), Distribution Channel (B2C, B2B), Application (Nutraceuticals, Food and Beverages), and Geography - Global Forecast to 2030'.Download Sample Report https://www.meticulousresearch.com/download-sample-report/cp_id=5197
In this groundbreaking publication, Meticulous Research® forecasts the microalgae market to achieve a remarkable valuation of $3.08 billion by 2030, boasting a robust CAGR of 9.4% from 2023 to 2030 in terms of value. The volumetric projections are equally impressive, with the market expected to reach 100,788.0 thousand tons by 2030, exhibiting a compelling CAGR of 12.8% during the same period.
This significant market growth is fueled by a multitude of factors, including the burgeoning interest in health and wellness, the exponential expansion of the dietary supplements industry, a surging demand for natural food colors, a rise in vegetarianism, the flourishing nutraceuticals sector, and an increasing preference for microalgae-sourced products. Despite these driving forces, challenges such as limited awareness about microalgae benefits and complexities in production processes are anticipated to pose constraints on market expansion.
Noteworthy opportunities emerge with an escalating demand for phycocyanin, coupled with a rising interest in microalgae within biorefineries. However, contamination risks stand as a significant challenge for market players. A prevalent trend in the microalgae market is the adoption of innovative production technologies, particularly the widespread integration of photobioreactors.
The global microalgae market is meticulously segmented by type (Spirulina, Chlorella, Dunaliella Salina, Haematococcus Pluvialis, Nannochloropsis, and other microalgae); production technique (ponds, fermenters, and photobioreactors); category (inorganic, and organic); distribution channel [business channel (B2B) and consumer channel (B2C)]; application (nutraceuticals, food & beverages, animal feed, cosmetics, and other applications); and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The report not only evaluates industry competitors but also provides a comprehensive analysis of regional and country-level markets.
Quick Buy: https://www.meticulousresearch.com/Checkout/68134492
Key Findings by Segmentation:
• Type: The Spirulina segment is poised to dominate the market in 2023 due to increasing health and wellness trends, the dietary supplements industry, demand for natural food colors, and a growing preference for Spirulina-sourced products.
• Production Technique: The ponds segment is projected to hold the largest market share in 2023, attributed to the presence of key players in pond cultivation, lower investment requirements, and higher biomass production potential.
• Category: The organic segment is anticipated to register the highest CAGR, driven by the rising demand for natural food colorants and certified organic products.
• Distribution Channel: The business channel (B2B) segment is expected to secure a larger market share in 2023, primarily due to bulk purchasing by manufacturers for product development.
• Application: Nutraceuticals are forecasted to dominate the market in 2023, fueled by the booming sector, global health concerns, and the growing awareness of the link between nutrition and health.
Geographic Overview:
In 2023, North America is anticipated to lead the global microalgae market, followed by Asia-Pacific and Europe. The region's dominance is attributed to high health supplement consumption, stringent regulations against synthetic colors, subsidiary industry growth, and the presence of key algae biomass manufacturers.
Top 10 Companies Operating in Microalgae Market: https://meticulousblog.org/top-10-companies-in-microalgae-market/
Key Players:
The microalgae market showcases a moderately competitive landscape with a mix of global, regional, and local players. Key market participants include Fuqing King Dnarmsa Spirulina Co., Ltd., Earthrise Nutritionals, LLC, E.I.D. - PARRY (INDIA) LIMITED, Cyanotech Corporation, C.B.N. Bio-engineering Co., Ltd, YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD., Jiangshan COMP SPIRULINA CO., LTD., Inner Mongolia Rejuve Biotech Co., Ltd., Zhejiang Binmei Biotechnology Co., Ltd., Bluetec Naturals CO., LTD., Taiwan Chlorella Manufacturing Company (TCMC), Sun Chlorella corporation, Roquette Klötze GmbH & Co. KG, Gong Bih Enterprise Co., Ltd., Yaeyama Shokusan Co., Ltd., Vedan Biotechnology Corporation, AlgoSource, Tianjin Norland Biotech CO., LTD, Phycom BV, Allmicroalgae Natural Products S.A., Aliga Microalgae, Taiwan Wilson Enterprise Inc., Daesang Corporation, Algalimento SL, Seagrass Tech Private Limited, Plankton Australia Pty Limited, Hangzhou Ouqi Food Co., Ltd., and Shaanxi Rebecca Bio-Tech Co., Ltd.
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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