Microalgae-based products market trends and strategies scrutinize in a new research study by Credence Research

The global Microalgae-based Products market generated revenue of around USD 40,635.8 million in 2020 and anticipated to grow at a CAGR of over 6.19% during the forecast period from 2021 to 2027 to reach around USD 61,876.0 million in 2027.

Microalgae are microscopic vegetations that are often referred to as single-cell algae because they are often found in an independent state. Microalgae vary in shape, size, and function when it comes to producing algal biomass. Microalgae have found application in mainstream life science uses such as biofuel, animal feed, dietary supplements, and so on, thanks to the evolution of biotechnology and the introduction of groundbreaking research and development initiatives.

Key Trends in Global Microalgae-based Products Market

Extensive demand in for dietary supplements and superfoods

The demand for microalgae products has been consistently rising as nutraceuticals and dietary supplements. This is mainly due to their advantageous properties such as greater water binding, emulsifying and foaming properties, high nutritive cntent, etc. There has been a perpetual increase in in adopting microalgae-based omega three fatty acids in regular consumption. The uptake of microalgae-based foods is has also significantly grown in the recent years. These are often considered as superfoods due to their high nutritive value, superior protein levels, and additional health benefits. These factors are anticipated to augment the growth of the overall microalgae-based products market.

Microalgae such as chlorella and sprulina are in high demand in their dried forms as food supplements, across all regions of the world. There is also intensive research being taking place in this space to further explore its nutritive avenues.

Impact of COVID 19 on Global Microalgae-based Products Market

The ongoing COVID 19 pandemic has had a significant impact on the global market for Microalgae-based Products. Globally, strict regulations were being imposed on the cross-border supply of foods, foodstuffs, and ingestible products. Because microalgae-based products are not a necessary component of mainstream food consumption, demand has either been diverted entirely or has been replaced by synthetic substitutes. However, with increased awareness about health and wellness in the post-pandemic era, demand for microalgae-based products is expected to rebound and grow steadily over the forecast period.

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Global Microalgae-based Products Market by Type Insights

Spirulina, Chlorella, Dunaliella Salina, Astaxanthin, Beta-carotene, PUFA Fatty Acid, Lutein and Others are the chief types of Microalgae-based Products that are in mainstream consumption. Among these, spirulina is anticipated to continue to dominate the global market in terms of both revenue and volume.

Global Microalgae-based Products Market by Application Insights

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Global Microalgae-based Products Market by Regional Insights

Europe is the largest regional market for microalgae-based products on the global front, at a share of ~32% in 2020. Europe is closely followed by North America becoming the second leading region in this space. High consumption of dietary supplements, greater demand for natural and safer alternatives, increasing awareness and higher disposable incomes mainly contribute to this trend. Moreover, there is a constant growth in research and development initiatives in the space of biofuels and application of microalgae in biofuels. This is anticipated to further support the market growth of these regions.

Market Segmentation

Global Microalgae-based Products Market by Type, 2015 – 2027

· Spirulina

· Chlorella

· Dunaliella Salina

· Astaxanthin

· Beta-carotene

· PUFA Fatty Acid

· Lutein

· Others

Global Microalgae-based Products Market by Application, 2015 – 2027

· Food & Beverages

· Personal Care

· Pharmaceuticals

· Nutraceuticals & Dietary Supplements

· Chemicals

· Fuel

· Animal Feed

· Others

Global Microalgae-based Products Market by Region, 2015 – 2027

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East and Africa

Global Microalgae-based Products Market: Key Players

· Corbion

· Cellana Inc.

· ALGAE, LLC.

· DSM

· Algarithm

· Cyanotech Corporation

· Algaecytes

· Australian Spirulina

· Henry Lamotte Oils GmbH

· Lyxia

· BASF SE

· E.I.D. – Parry (India) Limited

· AlgaEnergy

· Kuehnle AgroSystems Inc.

· ALGISYS LLC

· euglena Co., Ltd.

· Heliae Development, LLC

· ALGENOL

· Algatech LTD

· AstaReal AB

. Others

Read more with COVID19 impact analysis: https://www.credenceresearch.com/report/microalgae-based-products-market

Key questions answered in the report:

• What are the consequences of COVID 19 on global Microalgae-based Products industry?
• Who are the top five players in the global Microalgae-based Products industry?
• Which is the fastest growing application market for global Microalgae-based Products industry?
• Which is the leading regional market for global Microalgae-based Products industry?
• What will be the CAGR (2021 – 2027) of in global Microalgae-based Products industry?
• What was the volume and revenue of in global Microalgae-based Products industry in 2015?
• Which are the growing technological trends in global Microalgae-based Products industry?
• Which are the major driving forces behind growth of global Microalgae-based Products industry?
• What are the key growth pockets within global Microalgae-based Products industry?
• What are the attractive investment prepositions in the global Microalgae-based Products industry?
• What are the key challenges faced by the industry participants in global Microalgae-based Products market?
• What is the competitive scenario in global Microalgae-based Products industry?
• Which are the major production geographies?
• Who are the major regulatory bodies in global Microalgae-based Products industry?
• Which are the major companies governing the global Microalgae-based Products industry?

Download Free Sample PDF including full TOC, Tables and Figures@ https://www.credenceresearch.com/sample-request/60314

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Tags: COVID 19 Impact Analysis, Business growth, Microalgae-based Products Market Size, Microalgae-based Products Market Share, Microalgae-based Products Market, Microalgae-based Products Market Growth, Microalgae-based Products Market Trend

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