Global Microalgae Market is valued at USD 3671.8 Million in 2020 and is expected to reach USD 4996.8 Million by 2027 with a CAGR of 4.5% over the forecast period.
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Market Analysis of Microalgae:
Microalgae are microscopic algae found in marine and fresh water bodies they do not have roots, stem leaves and can range from few micrometers to hundred micrometers. These are unicellular species of algae which exist either individually or in groups. Microalgae is a rich source of protein, carbohydrates, enzymes and others which makes them suitable food source and are use widely. Microalgae is used in various nutritional supplements and also used as food color in various food items. These microalgae are able to perform photosynthesis and produce a large quantity of atmospheric oxygen and utilize carbon dioxide to grow photoautotapically. Microalgae along with bacteria form the base of food web and provide energy to the organism feed on them.
Some major key players for the Microalgae market are E.I.D.- Parry (India) Limited, Taau Australia Pvt. Ltd., Cyanotech Corporation, Algae.Tec Limited, DIC Corporation, Cellana LLC, Fuqing King Dnarmsa Spirulina Co. Ltd., and TerraVia Holdings Inc. among others.
Microalgae Market Segmentation –
- Dunaliella Salina
By Distribution Channel
- Online Sales
- Hyper Market or Super Market
- Retail Stores
- Pharmaceutical Industry
- Cosmetics Industry
- Food and Feed Industry
- Chemical Industry
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Technological advancements and increased demand of nutritional supplements is the key factor which helps Microalgae Industry to grow.
Over the period of time there has been various research and development coupled with technological advancement which has created awareness and use of microalgae due to its high nutritional value. The high nutritional value of microalgae has its used in nutritional supplements on a large scale. The increased health awareness among people has increased the consumption and demand for microalgae over the forecast period. Due to the color it has also used as coloring agents in the food industry and became one of the major food ingredients over the period of time and supports the growth of microalgae market. Furthermore, ongoing research and development activities are expected to create ample opportunities. However, the high cost involves in the harvesting, climatic conditions and complex food regulations are expected to hamper the growth of microalgae market over the forecast period.
North America is expected to dominate the Microalgae Market.
North America accounts for the largest market share over the forecast period and expected to lead the market. Due to the presence of developed economies such as U.S., Canada and others coupled with increase in health awareness and high disposable income are expected to drive the growth of the microalgae market.
Europe is expected to the second-largest region due to the various research and development activities coupled with technological advancement.
Asia Pacific is expected to be the fastest developing region owing to the presence of developing economies. Furthermore, increased adoption of advanced technology and increase in food and beverage industry coupled with increased use of nutritional and health supplement which in turn drive the growth of microalgae market in the near future. Latin America, Africa and Middle East is expected to develop at a considerable rate over the forecast period.
By Regional & Country Analysis:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of the market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are the main factors responsible for new product launches?
- How big are the global & regional markets in terms of revenue, sales, and production?
- How far will the market grow in the forecast period in terms of revenue, sales, and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2028?
- Which region has more opportunities?
Key Benefits for Microalgae Industry Reports –
- Global Microalgae Industry report covers in-depth historical and forecast analysis.
- Global Microalgae Industry research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Microalgae Companies, Market Restraints, Microalgae Companies, Microalgae Benefits, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global Microalgae Industry report helps to identify opportunities in the marketplace.
- Global Microalgae Industry report covers extensive analysis of emerging trends and competitive landscape.
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