Press release
Algae Products Market Anticipated to Surge to $5.55 Billion by 2030 - Groundbreaking Report by Meticulous Research®
[Redding, California, March 08, 2024] - Meticulous Research®, a distinguished name in market research, unveils its latest report titled "Algae Products Market." This comprehensive analysis forecasts the algae products market to achieve a staggering valuation of $5.55 billion by 2030, boasting a compelling Compound Annual Growth Rate (CAGR) of 7.8% from 2023 to 2030.Download Free Research PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=3579
The momentum of the algae products market is propelled by a myriad of factors including the escalating consumer inclination towards algae-derived commodities, the burgeoning trend of vegetarianism, surging demand for natural food colorants, and the exponential growth of the nutraceuticals sector.
Nevertheless, challenges such as the complexities involved in algae cultivation and the prevailing low awareness regarding the manifold benefits of algae pose hurdles to market expansion. Despite this, the burgeoning demand for biofuels presents promising avenues for market players. However, the menace of algae contamination remains a notable impediment to market growth. Additionally, the rising adoption of algae products emerges as a discernible trend within the algae products market landscape.
Algae products encompass a diverse array of photosynthetic organisms predominantly found in marine and freshwater habitats, serving various industries across multiple applications. The emergence of alternative protein sources like algae stands as a pivotal trend garnering traction within the algae products market. Moreover, the rise of alternative protein sources, including algae, fosters the establishment of a more sustainable and resilient food ecosystem.
The report segments the algae products market based on type (hydrocolloids, algal protein, lipids, and carotenoids), source (seaweed and microalgae), form (dry and liquid), application (food & beverage, nutraceuticals, cosmetics, animal feed, and others), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Browse in depth @ https://www.meticulousresearch.com/product/algae-products-market-3579
Key Highlights from the Global Algae Products Market Study:
• The algal protein segment is anticipated to exhibit the highest CAGR during the forecast period of 2023-2030, attributed to factors such as the burgeoning vegan populace, escalating demand for naturally sourced ingredients, increasing applications in the food & beverage sector, rising gym-going population, and heightened consumer awareness regarding fitness.
• Within the source segment, macroalgae/seaweed is poised to dominate the market, owing to its abundant availability and associated health benefits. However, microalgae is projected to register the highest CAGR during the forecast period due to its diverse applications and growing recognition of its nutritional value.
• Dry algae products are expected to command the largest market share due to their extended shelf life and convenience in transportation and storage. Nonetheless, the segment of liquid algae products is forecasted to witness the highest CAGR, driven by the increasing utilization of algae extracts in various industries.
• The cosmetics segment is projected to witness substantial growth during the forecast period, driven by the escalating demand for vegan skincare products and rising awareness regarding the benefits of organic cosmetics.
• Geographically, Europe is anticipated to witness significant growth, driven by increasing acceptance of algae products in the food and beverage industry, rising health & wellness trends, growing demand from the cosmetic and nutraceutical sectors, and a general shift away from synthetic food colorants.
Top 10 Companies: https://meticulousblog.org/top-10-companies-in-algae-products-market/
Key market players featured in the report include Algatechnologies Ltd. (A Part of Solabia Group), BASF SE, BDI BioLife Science GmbH, Bluetec Naturals Co., Ltd, Cargill, Incorporated, Cyanotech Corporation, DIC Corporation, Lyxia Corporation (a subsidiary of Shenzhen Qianhai Xiaozao Technology Co., Ltd.), Seagrass Tech Private Limited, Tianjin Norland Biotech Co., Ltd., Ingredion Incorporated, HISPANAGAR S.A., COMPAÑIA ESPAÑOLA DE ALGAS MARINAS S A, W Hydrocolloids, Inc., SNAP Natural & Alginate Products Pvt. Ltd., and Harsha Enterprises.
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
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