Microalgae-based Products Market Pegged for Robust Expansion by 2027

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Microalgae-based Products Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2027

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Key Highlights of Global Microalgae-based
Products Market

• The global microalgae-based products market was
  valued at US 1.7 Bn in 2018, and is anticipated
  to expand at a CAGR of 5 during the forecast
  period.
• Rise in the usage of microalgae-based products in
  food and nutraceutical dietary supplements is
  expected to drive the microalgae-based products
  market.
• Europe accounts for a major share of the global
  microalgae-based products market. Rise in the
  demand for microalgae-based products in various
  applications such as food beverages, animal
  feed, pharmaceuticals and nutraceuticals, and
  biofuel in Europe is driving the microalgae-based
  products market in the region.

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Key Drivers of Global Microalgae-based Products
Market

• The global demand for microalgae-based products
  is anticipated to increase significantly in the
  next few years.
• The commercialization of microalgae-based
  products and consistent capacity additions by key
  manufacturers across the globe are projected to
  affect the prices of products.
• Various countries across the globe are adopting
  the strategy of developing bioeconomy.
• The adoption of bioeconomy is based on the
  increase in usage of sustainable biologicInal
  resources to meet the rising demand for food and
  energy.
• The microalgae-based products market in the near
  future. this context, microalgae is used as an
  emerging biological resource for its potential
  application in different fields, including food,
  animal feed, biofuel, and other industrial
  applications. This is expected to boost

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Spirulina Product Type to Offer Lucrative
Opportunities to Microalgae-Based Products
Market

• Spirulina is a type of microalgae that can be
  consumed as a dietary supplement or feed, owing
  to its excellent nutritional value and health
  benefits.
• It serves as an excellent choice for human
  consumption due to its high protein and vitamin
  content. Spirulina also possesses excellent
  anti-inflammatory and antioxidant properties.
• Spirulina is used as protein supplement and
  health food. Therefore, it has gained popularity
  in the human nutraceutical industry in various
  developing and underdeveloped regions such as
  India and Africa where malnutrition is prevalent.

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Leading Players Actively Engage in Capacity
Expansions and RD Activities

• Euglena Co., Ltd.
• Cyanotech Corporation
• AstaReal AB
• BlueBioTech
• Cargill
• Incorporated
• Necton

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