The market for algae-based supplements is expected to reach approximately USD 2,365.3 million by 2024, with a projected compound annual growth rate (CAGR) of 7.3% during the forecast period. By 2034, the market valuation is anticipated to rise to USD 4,804.5 million.
Algae-based supplements have become increasingly popular among health-conscious consumers due to their numerous health benefits. This growth is further driven by the rising trend of vegan and plant-based diets, which has spurred demand for natural, nutrient-rich products. Manufacturers have also made significant advancements in processing technologies, making algae supplements more accessible and appealing to a wider audience.
The availability of a wide range of algae-based supplement options has allowed manufacturers to cater to diverse consumer preferences, further fueling market growth. Ongoing research continues to highlight the health benefits of algae-based supplements, boosting consumer confidence and encouraging their widespread adoption. Additionally, the increasing demand for sustainable and eco-friendly products has made algae-based supplements a popular choice among environmentally conscious consumers.
The rising popularity of macro- and micro-algal foods is also linked to their high nutritional content and unique health benefits. Educational initiatives by both government bodies and private organizations have helped raise awareness of the nutritional value of algae, contributing to the growing adoption of algae-based supplements. These supplements are also gaining traction for their skin-enhancing properties, leading to increased demand among beauty and skincare-focused consumers.
Key Takeaways from the Market Study
- The microalgae segment dominates the algae-based supplement market, progressing at a CAGR of 4.80% through 2034.
- On the basis of the product type, the soft gels segment leads the algae-based supplement market, expanding at a CAGR of 3.90% over the forecast period.
- The algae-based supplement market in the United States is anticipated to grow at a CAGR of 8.20% through 2034.
- The algae-based supplement market in the United Kingdom is estimated to rise at a whopping 7.10% CAGR through 2034.
- The algae-based supplement market in Japan has the potential to increase at a 5.20% CAGR through 2034.
- The Canadian algae-based supplement market is predicted to rise at a 5.90% CAGR through 2034.
- The algae-based supplement market in Germany is very likely to grow at a CAGR of 4.30% through 2034.
Competitive Landscape
The competitive landscape in the algae-based supplement market is diverse, featuring both international and domestic companies.
Companies are responding to the demands of eco-conscious consumers and businesses by adopting environmentally friendly cultivation and extraction methods. These players are also investing millions of dollars in formulating new products to widen their portfolios and attract young consumers to the market.
Report review: https://www.futuremarketinsights.com/reports/algae-based-supplement-market
Key Companies in the Market
- Algatechnologies
- Cyanotech Corporation
- Corbion (formerly Terravia)
- Allmicroalgae
- DIC Corporation
- Roquette
- Parry Nutraceuticals
- Corbion
- Far East Microalgae Industries Co., Ltd.
- Terravia Holdings, Inc.
- E.I.D. – Parry (India) Limited
- Fuqing King Dnarmsa Spirulina Co. Ltd.
- Algenol Biofuels Inc.
- Cellana LLC
- Algix
- Heliae Development LLC
- Helios Nutrition
- Phycom B.V.
- TerraVia (formerly Solazyme)
- Triton Algae Innovations
Key Companies in the Market
- Algatechnologies
- Cyanotech Corporation
- Corbion (formerly Terravia)
- Allmicroalgae
- DIC Corporation
- Roquette
- Parry Nutraceuticals
- Corbion
- Far East Microalgae Industries Co., Ltd.
- Terravia Holdings, Inc.
- E.I.D. – Parry (India) Limited
- Fuqing King Dnarmsa Spirulina Co. Ltd.
- Algenol Biofuels Inc.
- Cellana LLC
- Algix
- Heliae Development LLC
- Helios Nutrition
- Phycom B.V.
- TerraVia (formerly Solazyme)
- Triton Algae Innovations
Key Market Segmentation
By Product Type:
- Tablets
- Capsules
- Soft Gel
- Powder & Granules
- Liquid
By Algae Type:
- Microalgae
- Chlorella
- Dunaliella Salina
- Spirulina
- Aphanizomenon Flos-Aquae
- Haematococcus Pluvialis
- Other Types
- Macroalgae
- Nori
- Kelp
- Bladderwrack
- Wakame
- Dulse
- Others
By Consumer Orientation:
- Men
- Women
- Unisex
- Kids
By Sales Channel:
- Store-Based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Drug Stores and Pharmacies
- Health and Wellness Stores
- Other Retailers
- Online Retailing
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube