Microalgae Market to grow at a CAGR of 8.7% for 2030, says Stellar Market Research

(EMAILWIRE.COM, July 18, 2024 ) In the food industry, microalgae are utilized for their high nutritional value, rich content of proteins, vitamins, minerals, and essential fatty acids. They are incorporated into food products such as supplements, functional foods, and natural food colorants due to their health benefits and sustainability as a nutrient source.

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The Microalgae Market is experiencing growth spurred by rising demand for natural food colors and nutraceuticals, alongside a preference for health-focused microalgae-based products. Despite challenges such as high production costs and regulatory barriers, innovations in cultivation and product development are driving expansion.

North America dominates with its sustainable product demand. In the Asia-Pacific region, increasing health awareness and adoption of Western nutritional habits are driving market potential. As awareness grows and innovations continue, microalgae products are seeing global health and sustainability trends.

Microalgae Market Segmentation:

By Type

Spirulina,

Chlorella,

Dunaliella Salina,

Aphanizomenon Flos-Aquae

By Application

Food and Beverages Sector

Health and Medical Sector

Animal Feed Sector

Pet Food Sector

Cosmetics and Personal Care Sector

Fertilizers Sector

By Distribution Channel

Online

Offline

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Microalgae Market Key Industry:

DSM (Netherlands)

Euglena Co. Ltd. (Japan)

DIC CORPORATION (Japan)

Cyanotech Corporation (U.S.)

Corbion (Netherlands)

Stellar Market Research is leading Food & Beverages research firm, has also published the following reports:

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Beetroot Powder Market size was valued at USD 480.2 Mn. in 2023 and revenue is expected to grow at a CAGR of 5.3% from 2024 to 2030, reaching nearly USD 689.32 Mn. by 2030.

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