Friday, January 3, 2025

Microalgae Market to Hit $23B by 2030

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The Microalgae-Based Products market is experiencing significant growth, with the global market size estimated at USD 13.25 billion in 2023 and projected to reach over USD 23.01 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.2%. The increasing demand for natural and organic products, particularly Spirulina, which holds the largest market share at 38%, is driving this trend, as consumers seek the health benefits offered by microalgae in food, beverages, cosmetics, and animal feed. Despite some challenges, such as fluctuating raw material prices and supply chain issues, the overall market outlook remains positive due to expanding applications and consumer preferences for plant-based ingredients. The report provides a comprehensive analysis of market dynamics, trends, and key players shaping the microalgae industry across various global regions.

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