At 5.4% of CAGR Microalgae Market to Witness a Pronounce Growth Rate by 2028 | DIC CORPORATION, CELLANA

Microalgae

Microalgae Market

Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 6.7% from 2021 to 2028.

PORTLAND, OR, US, October 4, 2023 /EINPresswire.com/ -- Microalgae Market by Type (Spirulina, Chlorella, Dunaliella Salina, and Aphanizomenon Flos-Aquae), Application (Dietary Supplements, Food/Feed, Pharmaceutical, Cosmetic, and Others): Global Opportunity Analysis and Industry Forecast 2021-2028.

The global microalgae market was valued at $977.3 million in 2020, and is projected to reach $1,485.1 million by 2028, registering a CAGR of 5.4%. North America was the highest revenue contributor in 2020, and is estimated to be dominant throughout the forecast period. Asia-Pacific is estimated grow at a significant CAGR of 6.7%. North America and Europe collectively accounted for a hefty contribution in the global microalgae market share in 2020.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž & ๐“๐Ž๐‚: https://www.alliedmarketresearch.com/request-sample/13788

Rise in vegan population to strengthen product adoption, high protein concentration as compared to counterparts, multiple benefits of microalgal protein drive the growth of the global microalgae market. However, impact on spirulina production due to climate change, presence of large number of alternatives for protein and low product awareness hinder the market growth. On the contrary, technological innovations and algae protein-fortified food are expected to open new opportunities for the market players in the future.

๐“๐จ๐ฉ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

Key players in the Microalgae have adopted product launch and expansion as their key strategies to stay competitive in the market. Key players profiled in the report include include Algenol Biotech, Cellana Inc., Cyanotech Corporation, DIC Corporation, E.I.D Parry ltd, Fuqing King Dnarmsa Spirulina Co. Ltd., Kent BioEnergy Corporation, Taau Australia Pty Ltd., Holdings, Inc., and Astareal AB

Microalgae are microscopic organisms that are unicellular and can exist individually, in chains, or groups. Based on the species, their sizes may range from a few micrometers (ฮผm) to a few hundred micrometers. Unlike plants, microalgae do not have roots, stems, or leaves.

๐†๐ž๐ญ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎ'๐ซ๐ž ๐‘๐ž๐ช๐ฎ๐ข๐ซ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/13788

Based on microalgae market forecast by application, the food/feed segment was the largest segment in 2020, and is expected to remain dominant throughout the forecast period. The growth of this segment is attributed to the fact that Microalgae has become a key ingredient in dairy, medical, pet supplement, and health supplement industries. Rise in adoption of microalgae in the food/feed industry is also to rich nutritional value that microalgae offers. Increase in the pet owners, coupled with rise in the consumption of food with diverse macro and macronutrient profile drives the microalgae market growth.

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง:

Based on microalgae market analysis by type, the spirulina segment was the largest segment in 2020, and is expected to remain dominant throughout the forecast period. Growth in this segment is attributed to rise in awareness regarding health & wellness among customers. The spirulina segment was also the fastest growing segment in the type category, and is expected to grow at a CAGR of 5.9% throughout the forecast period.

Based on type, the spirulina segment held the largest share in 2020, accounting for more than two-fifths of the market. In addition, the segment is projected to manifest the highest CAGR of 5.9% during the forecast period. The report includes an analysis of other segments such as chlorella, dunaliella salina, and aphanizomenon flos-aquae.

๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/13788

The global microalgae market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lionโ€™s share in 2020, accounting for more than one-third of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 6.7% during the forecast period.

๐Š๐ž๐ฒ ๐๐ž๐ง๐ž๐Ÿ๐ข๐ญ๐ฌ ๐…๐จ๐ซ ๐’๐ญ๐š๐ค๐ž๐ก๐จ๐ฅ๐๐ž๐ซ๐ฌ

The report provides a quantitative analysis of the current microalgae market trends, estimations, and dynamics of the market size from 2020 to 2028 to identify the prevailing opportunities.

Porterโ€™s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierโ€“buyer network.

In-depth analysis and the market size and segmentation assist to determine the prevailing microalgae market opportunities.

The major countries in each region are mapped according to their revenue contribution to the market.

The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the microalgae industry.

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ฉ๐ฎ๐›๐ฅ๐ข๐ฌ๐ก๐ž๐ ๐›๐ฒ ๐€๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Fin Fish Market - https://www.alliedmarketresearch.com/fin-fish-market

Licorice Extract Market - https://www.alliedmarketresearch.com/licorice-extract-market-A06712

Seaweed Protein Market - https://www.alliedmarketresearch.com/seaweed-protein-market-A16894

Commercial Seaweeds Market - https://www.alliedmarketresearch.com/commercial-seaweeds-market

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn