The microalgae market is subject to stable growth in the coming years. Growing application of algal protein in dietary supplements and food industry.

PORTLAND, OR, US, February 10, 2023 /EINPresswire.com/ -- 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.

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.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗧𝗵𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗣𝗗𝗙 𝗢𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.alliedmarketresearch.com/request-sample/13788

𝗣𝗿𝗼𝗺𝗶𝗻𝗲𝗻𝘁 𝗠𝗮𝗿𝗸𝗲𝘁 𝗣𝗹𝗮𝘆𝗲𝗿𝘀

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

𝗗𝗿𝗶𝘃𝗲𝗿𝘀, 𝗥𝗲𝘀𝘁𝗿𝗮𝗶𝗻𝘁𝘀 𝗮𝗻𝗱 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀

Both feed and cosmetic industry has experience a surge in growth in the recent decade which has increased the demand of such products on a global level and as a resulted in an increase in the demand for microalgae. Thus, the abovementioned factors act as the key driving forces of the Microalgae market. However, the uncertainties in climatic conditions leading to problems in algae production act as the restraint, hindering the market growth. On the contrary, breakthroughs in microalgae production technology and growing adoption of microalgae in fortified food sector is expected to provide opportunities for growth for the microalgae market in the coming years.

𝗟𝗜𝗠𝗜𝗧𝗘𝗗-𝗧𝗜𝗠𝗘 𝗢𝗙𝗙𝗘𝗥 - 𝗕𝘂𝘆 𝗡𝗼𝘄 & 𝗚𝗲𝘁 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.alliedmarketresearch.com/checkout-final/dfece2e4c733af6dd49bf7d2f9a6997e

𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗢𝘂𝘁𝗹𝗼𝗼𝗸:
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 lion’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.

Key Benefits For Stakeholders

-> 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.
-> Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–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.

𝗚𝗲𝘁 𝗬𝗼𝘂𝗿 𝗥𝗲𝗽𝗼𝗿𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗲𝗱 @: https://www.alliedmarketresearch.com/request-for-customization/13788

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