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Global Microalgae Market is slated to top a revenue of US$ 11.4 Bn in 2022, expanding at a healthy CAGR of 8%, the market size is projected to total US$ 18.1 Bn by 2028-end | Future Market Insights, Inc.

The increasing demand for hair care products and the rising development of proteins are the key trends boosting the sales of microalgae. The Western Europe microalgae market is projected to account for 3.1% of the share in the forecast period 2022 to 2032.

/EIN News/ -- NEWARK, Del, Nov. 10, 2022 (GLOBE NEWSWIRE) -- The global microalgae market is anticipated to create a lucrative growth opportunity within the global landscape by exhibiting a healthy CAGR of around 8.0% throughout the projection period from 2022 to 2028. The global market is slated to top at around US$ 11.4 Bn in 2022 and is projected to total around US$ 18.1 Bn by 2028. According to historical estimations, the global microalgae market recorded a CAGR of around 7.30% from 2013 to 2021, which predicts Future Market Insights.

Increasing usage of marine microalgae ingredients and proteins utilized in the production of aquaculture, pharmaceutical, and nutraceutical products is anticipated to drive sales in the market. Rising government initiatives in order to standardize the cultivation process of microalgae are predicted to be a key factor propelling the growth. The growing use of algae photobioreactors as a source of bulk proteins is expected to push growth in the market. Such proteins play a dominant role in meeting global needs as they have numerous beneficial properties, as compared to other protein sources.

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Rapid technological advancements help to develop new strains that are expected to enhance energy efficiency and handle high salinity. Attributing to these factors, the global microalgae market is likely to boost sales over the assessment period. The urgent need for the early detection of contaminants is predicted to create new growth opportunities for novel photobioreactor microalgae producers. Chlorella is known as one of the most common species of algae photobioreactors that offer high-quality proteins. These species consist of amino acid compositions that are known to be very similar to conventional protein sources, such as soybeans and eggs.

Key Takeaways

  • Marine microalgae have the ability to act as a gentle clarifying agent and are excessively utilized in shampoos effectively removing excess sebum along with the residue of styling products is set to fuel its demand. It also helps in preventing hair loss by reducing the irritation which is often caused by bacterial infections on the scalp.
  • This element is predicted to boost hair development by giving it excessive volume and lustrous shine. Attributing to the presence of trace elements, minerals, and vitamins, microalgae help to restore and strengthen hair. The incorporation of chlorella in hair care products is estimated to surge as it improves the level of keratin and strengthens hair roots.
  • An increasing trend of humanization of pets has been witnessed over the projection period which is leading to the high demand for healthy food pet owners, thereby propelling the usage of algae photobioreactors in the pet food industry. The demand for high-quality premium pet food is expected to augment sales at a fast pace.

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  • Algae photobioreactor consists of substantial amounts of vitamins E, C, and A, as well as Beta-carotene, which makes it an ideal ingredient in pet food. It helps in boosting the pet’s appetite and make its immune system stronger, unlike regular foods available in the market.
  • Several reputed manufacturers in the industry are expected to conduct elaborate research activities in order to improve the protein bioavailability from whole microalgae by utilizing pre-treatments that inhibit degradation by disturbing cell walls. The requirement of land is also less for the development of microalgae proteins, unlike animal-based proteins.

Competitive Landscape

The majority of the key market players operating in the global microalgae market are focusing on expanding their existing product portfolios, especially within the pet food ingredients domain. In order to do so, they are heavily investing in research and development activities in order to launch cutting-edge products. Meanwhile, a few other key players are aiming to create novel photobioreactor microalgae additives with the increasing demand for organic products from consumers worldwide.

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More Insights into the Microalgae Market

Surging government and private investments for increased production of energy systems based on biomass to address the vulnerable energy supply situation is likely to drive the Japanese market. As per FMI, Japan's microalgae market is expected to account for about 4.0% of the share in 2022.

Owing to the ongoing expansion of the aerospace and defense industry in the U.S. is expected to augment the market over the forthcoming years. The North American microalgae market is predicted to account for 1.4% of the total market share in 2022, as estimated by FMI.

Microalgae Market by Category

Species Type:

  • Spirulina
  • Chlorella
  • Dunaliella
  • Haematococcus
  • Crypthecodinium
  • Schizochytrium
  • Euglena
  • Nannochloropsis
  • Phaedactylum
  • Others

Source:

  • Marine Water
  • Fresh Water

End Use Application:

  • Food and Beverages Sector
  • Health and Medical Sector
  • Animal Feed Sector
  • Pet Food Sector
  • Cosmetics and Personal Care Sector
  • Fertilizers Sector

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Table of Content

1. Market Overview

    1.1. Market Coverage / Taxonomy

    1.2. Market Definition / Scope / Limitations

2. Scenario Assessment of the Impact of COVID-19 on Demand for Microalgae Market

    2.1. Global Demand for Microalgae Market Forecast Scenario Comparison of Annual Growth Rates for short Term (2013-2021) and Long Term (2022-2028)

        2.1.1. Optimistic Scenario

            2.1.1.1. China

            2.1.1.2. US

            2.1.1.3. Euro Zone

            2.1.1.4. Asia Pacific

            2.1.1.5. Rest of the World

3. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Product Innovation / Development Trends

Report Preview @ https://www.futuremarketinsights.com/reports/microalgae-market

Explore FMI’s Extensive Coverage on Food & Beverage Domain:

Agar Market Size: The global agar market revenue is anticipated to expand at a CAGR of over 4.9% in terms of value and 2.6%, in terms of volume during the forecast period.

Red Berries Market Share: The global red berries market is anticipated to expand at a CAGR of over 3.0% in terms of value over 2026. 

Colostrum Market Growth: According to Future Market Insights research, the global colostrum market is expected to grow at a CAGR of 3.6% during the projected period. The colostrum market value is projected to increase to US$ 2402 Mn by 2032.

Natural Food Colours Market Trends: Growth prospects of the natural food colours market continue to remain high in Asia Pacific, with China emerging as the largest exporter.

APAC Functional Food Ingredients Market Value: As per Future Market Insights (FMI), the overall market value is expected to reach a valuation of USD 8,141.5 Mn by 2032, rising at a CAGR of 7% for 2022-32.

APAC Savoury Ingredients Market Forecast: The savoury ingredients market in India is expected to expand at a CAGR of 5.9% over the forecast period. The Japan savoury ingredients market is expected to grow at a CAGR of 4.5% over the forecast period.

Maltodextrin Market Demand: Newly released report on global maltodextrin market by Future Market Insights (FMI) estimates that the growth of 4.8% to reach US$ 3.61 Bn in 2021. The market has been projected to expand at a CAGR of 5.0% to reach the value of US$ 5.87 Bn in 2031

APAC Heart Health Functional Food Market Overview: This market now holds a massive market value of USD 477.6 Mn in monetary terms in 2022.

Food Additives Market Outlook: The global Food Additives Market is expected to grow at a CAGR of 6.6%, from USD1800 Mn in the year 2021 to USD 3410 Mn in 2032.

Barley Market Volume: The global barley market is set to grow at 3.3% CAGR and reach US$ 28 billion in revenues by 2026. Europe is the largest market for barley, accounting for nearly 30% share of the market.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.    
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA    
T: +1-845-579-5705    
For Sales Enquiries: sales@futuremarketinsights.com


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