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Algae Extracts Market Trends

Report ID: GMI5310
Published Date: Jan 2024
Report Format: PDF

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Algae Extracts Market Trends

Consumer health and Eco-innovation trends are making current developments in the algae extracts industry. As the market answers to rising environmental issues, there is a increasing emphasis on eco-friendly and sustainable extraction operations. As a result, investments in green technology and processes with minimal environmental effect are increasing. Consumers preferring natural and healthy products, are driving the demand for algae extracts in the beverage, food, nutraceutical, and cosmetic markets.

Algae cultivation and processing innovation is improving extract quality and application potential. Strategic partnerships helping research and market growth. The market for algae extracts is adjusting to these changes, combining environmental sustainability with the demand for high-quality, adaptable algae-based products.

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

The market size of algae extracts reached USD 5.42 billion in 2023 and is set to cross USD 9.44 billion by 2032, owing to the increasing demand for natural ingredients and increased awareness of the health advantages of algae-based products worldwide.

The green algae source segment recorded USD 1.4 billion in 2023, attributed to innovations in algae harvesting and processing leading to increased yield and purity.

U.S. market was valued at USD 1.14 billion in 2023, due to the rising demand for sustainable goods, and technological innovations in the region.

Algatechnologies, Allmicroalgae, Arizona Algae Products, LLC., Blue Evolution, Corbion NV, Cyanotech Corporation, Earthrise Nutritionals LLC. (DIC Corporation), Goerlich Pharma GmbH, Kelp, and Olmix Group are some of the major algae extracts companies worldwide.