Algae Extracts Market Size, Share | Growth Analysis, Report 2030

According to Precision Business Insights (PBI), the latest report, the market value of the Algae Extracts Market size was valued at USD 4,983.6 million in 2023, growing at a 7.3% CAGR from 2024 to 2030. The primary factors that drive the market are the growing prevalence of blood pressure, diabetes, anxiety, and some skin diseases due to lack of nutrition in food, rising awareness about health and nutrition, and increasing demand for the market.

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THE ALGAE EXTRACTS MARKET DETAILED SEGMENTATION:
Based on the source, the market is segmented into the following:
• Red Algae
• Green Algae
• Brown Algae

Based on the form, the market is segmented into the following:
• Liquid
• Powder

Based on the application, the market is segmented into the following:
• Food and Beverages
• Pharmaceuticals
• Nutraceuticals
• Personal Care
• Animal Feed
• Others

Based on form, powder form holds the highest market share. The increase in the use of this segment due to powder form makes it easy to utilize; with advancements in technology, powder algae products are available in numerous flavors and colors. Changing lifestyle needs high-quality nutritious food, but changes in habitat restrict the fulfillment of all nutritional value, lack of required protein, amino acid consequences risk associated with anxiety and depression along with degradation of muscle and bones. Consumers' rapid shift towards high accelerates the demand for algae, such as spirulina, to boost the immune system, which drives the demand in the market. Hence, this will drive the global market growth at a significant rate.

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Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

The Asia Pacific region is expected to grow significantly in the size of the Algae Extracts Market over the forecast period. It is attributed to the increasing number of populations in the country such as China, India, and Japan is a major factor that is expected to boost the for algae products, also increasing health consciousness and enhance the utilization of s lipids such as omega 3 fatty acids and other experiencing significant growth in the upcoming years.

STRATEGIC NEW PRODUCT LAUNCHES, MERGERS, ACQUISITIONS, AND AGREEMENTS ARE THE KEY STRATEGIES ADOPTED BY MARKET PLAYERS:
The Algae Extracts Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

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Key players' profiles in the Algae Extracts Market report are Olmix Group, Corbion NV, Kelp, Allmicroalgae, Earthrise Nutritionals LLC. (DIC Corporation), Goerlich Pharma GmbH, Cyanotech Corporation, Phycom Microalgae, Tagrow Co., Ltd, Arizona Algae Products, LLC

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