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Algae-based Food Additive Market Trends

Report ID: GMI7622
Published Date: Dec 2023
Report Format: PDF

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Algae-based Food Additive Market Trends

In the dynamic landscape of the algae-based food additive industry is propelled by the growing emphasis on sustainable and plant-based alternatives, driven by heightened environmental awareness and consumer demand for eco-friendly products. The market is witnessing a surge in research and development activities, exploring new applications and formulations of algae-based additives in diverse industries, including food and beverages, nutraceuticals, and personal care. The rising popularity of clean-label products further propels the adoption of algae-based food additives, as consumers seek transparent and natural ingredients in their food choices.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of algae-based food additive was worth USD 164.6 million in 2023 and is estimated to reach USD 336.1 million by 2032, owing to the increasing consumer preference for natural and sustainable ingredients.

The red algae held a majority market value of USD 72.9 million in 2023 and is expected to grow significantly through 2032.

The U.S. algae-based food additive industry was worth USD 40.8 million in 2023 and will grow significantly through 2032, owing to the strategic product penetration, innovation, and a robust consumer base.

DSM, Cargill, DuPont, BASF, Enovix Corporation, Algatechnologies, Corbion, Cyanotech Corporation, Solazyme, TerraVia Holdings, Inc., BlueBioTech GmbH, JRS Pharma GmbH & Co. KG, Phycom, Novozymes, and Evonik Industries AG.