Press release
Algae Market Blooms: Projected to Flourish and Surpass $29.8 Billion by 2030
Meticulous Research®, a renowned global market research company, has released its latest research report titled "Algae Market by Type (Macroalgae/Seaweed {Red, Brown}, Microalgae {Spirulina, Chlorella, D. Salina}), Distribution Channel (B2B, B2C), Form (Dry, Liquid), Application (Nutraceuticals, Food & Beverages, Animal Feed, Cosmetics) - Global Forecast to 2030".
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According to this comprehensive report, the algae market is anticipated to achieve a remarkable CAGR of 9.3% from 2023 to 2030, ultimately reaching an impressive $29.8 billion by 2030. The growth trajectory of this market is propelled by various factors, including the increasing focus on health and wellness, the burgeoning dietary supplements sector, rising demand for natural food colors, surging interest in vegetarianism, expanding nutraceutical industry, a preference for algae-sourced products, and governmental initiatives fostering seaweed cultivation. Despite these positive trends, the market may face hindrances due to limited awareness regarding algae benefits and the intricate production processes associated with algae products.
This global algae market study spans historical market data values for 2021 and 2022, estimated current data for 2023, and forecasts for 2030. The segmentation encompasses macroalgae (red algae, brown algae, green algae) and microalgae (spirulina, chlorella, Dunaliella salina, Haematococcus pluvialis, and other microalgae), along with distribution channels (B2B, B2C), forms (dry form - algae powder, algae flakes, and other dried forms, liquid form), and applications (food & beverages, nutraceuticals, animal feed, cosmetics, and Others).
To gain more insights into the market with a detailed table of content and figures, click here https://www.meticulousresearch.com/product/algae-market-5424
The report assesses major geographies, providing an in-depth analysis of North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Notably, Asia-Pacific is anticipated to dominate the global algae market in 2023, with significant contributions from local and regional players, government initiatives supporting algae cultivation, and the rising demand for organic food products.
Based on application, the algae market is mainly divided into food and beverages, nutraceuticals, cosmetics, animal feed, and others. The food and beverage segment is expected to account for the largest share of the global algae market in 2023, owing to the growing demand for organic foods products, increased consumption of plant proteins and vegan products, and increased utilization of algae for human consumption. Moreover, rapid population growth, increasing awareness of algae's health benefits, changes in lifestyle patterns and taste preferences among consumers, healthy eating habits, and rising disposable income are further expected to support the growth of this market.
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The competitive landscape section highlights key strategic developments by industry leaders over the past 3-4 years. Key players in the global algae market include Fuqing King Dnarmsa Spirulina Co.Ltd., Earthrise Nutritionals, LLC, E.I.D. - Parry (India) Limited, Cyanotech Corporation, Seaweed & Co., Green Rise Agro Industries, Ocean Rainforest Sp/F, Inner Mongolia Rejuve Biotech Co., Ltd., Zhejiang Binmei Biotechnology Co., Ltd., Bluetec Naturals Co., Ltd., Taiwan Chlorella Manufacturing Company(TCMC), Sun Chlorella Corporation, Far East Algae Industries, Co., Ltd., 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, AllAlgae Natural Products S.A., Duplaco B.V., Taiwan Wilson Enterprise Inc., Daesang Corporation, and Algalimento S.L.
This comprehensive report delves into the various facets of the algae market, providing valuable insights into its growth trajectory, market segments, and key factors influencing its development. The study encompasses a global forecast up to 2030, offering a thorough analysis of macroalgae and microalgae types, distribution channels, forms, and applications within the market.
Download Free Sample Report Here : https://www.meticulousresearch.com/download-sample-report/cp_id=5424
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