Sales of Microalgae to Increase Amidst Surging Adoption in Food & Beverage Industry: Future Market Insights

Demand for plant-based and organic food and supplements will increase the adoption of microalgae, creating lucrative growth opportunities for market players in the forecast period (2021-2031). Demand for plant-based and organic food and supplements will increase the adoption of microalgae, creating lucrative growth opportunities for market players in the forecast period (2021-2031). Rising use of microalgae proteins and ingredients in the production of pharmaceutical, nutraceutical, and...

Demand for plant-based and organic food and supplements will increase the adoption of microalgae, creating lucrative growth opportunities for market players in the forecast period (2021-2031).

Rising use of microalgae proteins and ingredients in the production of pharmaceutical, nutraceutical, and aquaculture products will be a key growth driver. As aquaculture and animal feed industries are highly dependent on plant-based additives for higher nutritional value, demand for microalgae-based ingredients pet food is increasing.

Microalgae such as spirulina and chlorella are extensively used in the production of dietary supplements. Now, with rising awareness about the advantages of plant-based dietary supplements among consumers, key players are increasing the use of microalgae in the production.

As microalgae is highly rich in anti-oxidants and has anti-inflammatory properties, extensive use of microalgae-based ingredient in healthcare and wellbeing industry is expected. According to the report, healthcare sector is expected to emerge as the primary end user, followed by the food and beverage sector.

Driven by a myriad of health benefits, demand for spirulina as a healthy additive will increase in the food & beverage industry. According to Future Market Insights, over 41.3% of microalgae sales will come from the spirulina segment.

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"Increasing consumer inclination towards plant-based products and demand for organic and sustainable food proteins will create lucrative growth opportunities for leading players within food & beverage and healthcare industry." says the Future Market Insights analyst.

Key Takeaways from Microalgae Market Survey

Key Drivers

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Microalgae Market – Participants Insights

With increasing demand for natural and organic food products, microalgae manufacturers are focusing on developing microalgae additives to cater to the surging demand. Extensive research and development activities also are undertaken for the expansion of product portfolio.

As per Future Market Insights, presence of numerous established players in the market is resulting in intense competition. To sustain their position in the industry, key players are emphasizing on product launches and innovations.

For instance:

Some of the leading players operating in the microalgae market profiled by Future Market Insights are:

More Valuable Insights on Market

FMI, in its new report, offers an unbiased analysis of the global microalgae market, analysing forecast statistics through 2021 and beyond. The survey reveals growth projections on in microalgae market with detailed segmentation:

By Species Type:

By Source:

By End-Use Application:

By Region:

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Key Questions Covered in the Microalgae Market Report 

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