(EMAILWIRE.COM, April 30, 2023 ) As per the Maximize Market Research, the Microalgae based Products Market is expected to grow at a CAGR of 8.5 percent and reach USD 21.88 Bn during the forecast period of 2022-2029.

Microalgae based Products Market Scope and Research Methodology

The Microalgae based Products Market report provides the user market dynamics, market structure, market regional insight, market revenue generated, and the market’s key players. The data collected for research is analyzed by the use of tools such as SWOT analysis and PORTER’s five forces analysis and formatted further in the form of tables, pie charts, and graphs.

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Microalgae based Products Market Dynamics

The high demand for vegan proteins is that algal protein is used which is one of the factors that is boosting the Microalgae based Products Market. Algae production is hindered by the uncertainties of climatic conditions and also limits the growth of the Microalgae based Products Market.

Microalgae based Products Market Regional Insights

North American region held the largest market share in 2021 and is expected to grow more sufficiently in the Microalgae based Products Market during the forecast period due to the high consumption of dietary supplements and cosmetic use of algae in this region.

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Microalgae based Products Market Segmentation

By Type
Spirulina
Chlorella
Dunaliella Salina
Aphanizomenon Flos-Aquae

By Application
Nutraceuticals
Food and Beverages
Animal Feed
Cosmetics
Other

Microalgae based Products Market Key Players

Algatechnologies Ltd.
Beijing Gingko Group
Bluetec Naturals Co., Ltd
Cyanotech Corporation
DIC Corporation
DSM N.V.
E.I.D. - Parry (India) Limited
Earthrise® Nutritionals LLC
Fuji Chemical Industries Co., Ltd.
Naturex S.A
Novozymes A/S
NOW Health Group, Inc.
Phycom

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Maximize Market Research is leading Material and Chemical research firm, has also published the following reports:

Algae Fuel Market– The market size is expected to reach 15.22 USD Bn by 2029, and grow at a CAGR of 8.9 percent during the forecast period.

Algae Products Market– The market size is expected to grow at a CAGR of 6.5 percent and reach USD 7.47 Bn during the forecast period.

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