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Data Bridge Market research has a newly released expansive study titled “Global Microalgae Market ” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases surviving and success in the market.
Microalgae are simple cell structure that needs some requirement for their growth, such as light, water, carbon dioxide and nutrients such as nitrogen and phosphorus. Microalgae growth under these requirements with optimum climatic conditions can be 5-10 times more than conventional crops.
The global microalgae market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.4% in the forecast period of 2023 to 2030 and is expected to reach USD 1,394.95 million by 2030.
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Global microalgae market is growing tremendously in the North America region due to increased health concerns among consumers and the rising incidence of chronic diseases. The quality of the product of microalgae depends on various factors like algal biomass, specificity of strain and good extraction method. The different forms of microalgae, including blue-green microalgae (BGA), red microalgae and brown microalgae, are used to make useful products enriched with healthy nutrients. Increasing R&D investments in microalgae production and rising demand for an alternative food source due to the increased worldwide population have driven the market’s growth. The high cost of extraction of essential components from algal biomass and the adverse impact of climatic variations on microalgae production restrain the market growth.
The global microalgae market facing high maintenance and operating costs and technical challenges of large-scale microalgae harvesting are the major challenges for the market’s growth in the forecast years.
Microalgae are microscopic algae which are also called single-celled algae. They can either live independently or in the form of colonies. These are photosynthetic micro-organisms that reside in freshwater or salty water. According to their species, they can vary in size and shape whose size ranges from micrometers to hundred micrometers. The main function of microalgae is they convert sunlight, carbon dioxide and water into algal biomass. Microalgae are used in the food, nutraceuticals, feed and cosmetic industries, as well as it is also used to make paper ink. Microalgae have been considered the most promising in biodiesel feedstock and have been known as a third-generation feedstock. Microalgae are members of the larger group of phytoplankton.
Opportunities
The products derived from microalgae-based technologies are changing almost everything around us. The various transformations in microalgae production enhance the way of eating, introduction of biofuels for the automobile and aviation industry, production of microalgae-derived skincare products and recycling of greenhouse gases. The increased investment in microalgae products is due to their miraculous properties and ability to provide satisfactory products for every major industry. The out-sized impact on the consumer’s market and providing sustainable solutions to combat global challenges increased investments in advanced microalgae technologies aiding in its production by both the private and public sectors.
Various strategic initiatives are implemented by market players for the production of microalgae products, which include acquisition, collaboration and expansion, among others. These initiatives allow market players to increase their company’s product portfolio, leading to market expansion and increasing the product demand among customers, ultimately allowing them to earn maximum revenue. As the demand for effective and novel products derived from microalgae is increasing worldwide, these strategic initiatives are taken by top market players aimed at enhancing business operations and earning more profitability in the market.
Recent Developments
Key Market Competitors Covered in the Report
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Global Microalgae Market Scope
Type
Based on type, the microalgae market is segmented into chlaspirulina, chlorella, haematococcus pluvialis, dunaliella salina, isochrysis, phaeodactylum tricornutum, chlamydomonas cruentum, nannochloropsis and others.
Category
Based on category, the microalgae market is segmented into organic and inorganic.
Form
Based on form, the microalgae market is segmented into powder/dry and liquid.
Grade
Based on grade, the microalgae market is segmented into food grade, cosmetic grade, feed grade, fuel grade and others.
Application
Based on application, the microalgae market is segmented into dietary supplements, cosmetics & personal, food & beverages, pharmaceuticals, animal feed, bio-fuel, inks and others.
Distribution Channel
Research Methodology: Global Microalgae Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Browse the complete table of contents at – https://www.databridgemarketresearch.com/toc/?dbmr=global-microalgae-market
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