1. What is the projected Compound Annual Growth Rate (CAGR) of the Microalgae Food Market?
The projected CAGR is approximately 8.61%.
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Microalgae Food MarketMicroalgae Food Market by Species (Spirulina, Chlorella, Nannochloropsis, Isochrysis, Others), by Application (Nutraceuticals, Packaged Food, Beverages, Others), by North America (U.S., Canada, Mexico), by Europe (Germany, France, Spain, Italy, U.K., Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific), by South America (Argentina, Brazil, Rest of South America), by Middle East & Africa (South Africa, Turkey, Rest of ME&A) Forecast 2025-2033
The Microalgae Food Market size was valued at USD 613.96 USD Million in 2023 and is projected to reach USD 1094.53 USD Million by 2032, exhibiting a CAGR of 8.61 % during the forecast period. Microalgae food, sourced from algae, is a novel food that has been tagged as the new super-food. These algae, which are single-celled units of life, are grown for their nutritional values; two examples are Spirulina and Chlorella. Microalgae consist of a large number of proteins and essential amino acids, vitamins and minerals and antioxidant substances. It is available in many forms like powder, capsules, and extracts and can meet everyone's needs according to their type of diet. Notable facts worth knowing about microalgae include; protein content, production, and digestibility. Microalgae food demands cover a range from dietary supplements to functional food and beverages having improved functionality and health effects. Other potential benefits of including microalgae products in the diet include a strong immune system, increased energy and improved skin condition.
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| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 8.61% from 2019-2033 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 8.61%.
Key companies in the market include BASF SE (Germany), Cyanotech Corporation (U.S.), Corbion N.V. (Netherlands), DIC CORPORATION (Japan), Earthrise Nutritionals, LLC (U.S.), Terranova Synergistic Nutrition (U.K.), AstaReal Co., Ltd. (Japan), Koninklijke DSM N.V. (Netherlands), Solabia Group (France), The Archer-Daniels-Midland Company (U.S.).
The market segments include Species, Application.
The market size is estimated to be USD 613.96 USD Million as of 2022.
Growing Demand for Sustainable Food Products to Amplify Market Growth.
Adoption of New Technologies in Microalgae-Based Food Production is Trending in the Market.
Higher Costs and Limitations Related to the Upscaling of Microalgae Production May Hinder Market Growth.
December 2023: The Corporate Social Responsibility UAE Fund, “Majra”, signed a Memorandum of Understanding on the sidelines of COP28 with an agriculture company “HyveGeo” aimed at regenerating desert sand into arable soil for sustainable food and clean air.
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The market size is provided in terms of value, measured in USD Million.
Yes, the market keyword associated with the report is "Microalgae Food Market," which aids in identifying and referencing the specific market segment covered.
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