Algae Extracts Market Application, Forecast to 2030

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Algae Extracts Market Size to Cross 8 Bn by
2030
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Overview of Algae Extracts Market

• The global algae extracts market size is expected
  to witness substantial growth from 2022 to 2030.
  Increasing focus on wellness and weight
  management is driving the demand for protein-rich
  food products and nutritional drinks among the
  younger population. The rising consumption of
  meat as a key source of protein has encouraged
  animal feed manufacturers to include these
  extracts in their products.
• In May 2022, the Olmix Animal Care division
  solidified its position in the Moroccan feed
  industry with the launch of Algimum, one of its
  latest algae-based innovations that relies on a
  combination of biologically active macroalgae
  extracts.
• The industry is fragmented into red algae, green
  algae, brown algae, and others. In 2021, brown
  algae extract volume reached 179 kilo tons and is
  projected to exhibit a CAGR of over 4 from 2022
  to 2030. Brown seaweed is popularly consumed by
  individuals who suffer from heart disease,
  stress, arthritis, high cholesterol, weight loss,
  or even cancer.

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• These extracts contain an antioxidant called
  fucoxanthin, which is considered to help control
  blood sugar and prevent diabetes. Consumers are
  also dramatically shifting to natural cosmetic
  products owing to the carcinogenic risks
  associated with chemical formulations.
• The algae extracts market is segregated into food
  and beverages, personal care, pharmaceuticals and
  nutraceuticals, and animal feed. The animal feed
  segment is estimated to witness more than 5.9
  CAGR through 2030 owing to the increasing
  consumption of meat worldwide.
• The production rate of industrial livestock is
  expected to skyrocket as a result of growing
  health-consciousness among consumers. Algae
  extracts are a prominent source of protein for
  animal feed with several health benefits for
  animals including improved fertility, better
  weight management immune response, lustrous
  coat, and healthier skin.
• These compounds are being added to poultry feed
  products as it works as a significant source of
  nutrient with additional health benefits. Feeding
  microalgae to chickens can increase their body
  weight and feed efficiency. Replacing of
  vegetable proteins in animal feed with
  protein-rich microalgae can also help lower the
  demand placed on agriculture for human
  consumption.

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• The Latin America algae extracts market is
  projected to witness more than 5.9 CAGR between
  2022 and 2030. Increasing consumer inclination
  toward health and wellness products will propel
  nutraceuticals business in the region, which
  will, in turn, create a favourable business
  scenario for algae extract manufacturers. A rapid
  influx of international investments to boost
  product development in developing nations such as
  Mexico, and Brazil.
• Notable participants in the Algae Extracts market
  include Olmix Group, Corbion NV, Kelp,
  Allmicroalgae, Earthrise Nutritionals LLC. (DIC
  Corporation), Goerlich Pharma GmbH, Cyanotech
  Corporation, Phycom Microalgae, Tagrow Co., Ltd,
  Arizona Algae Products

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