PUBLISHER: QYResearch | PRODUCT CODE: 1068403
PUBLISHER: QYResearch | PRODUCT CODE: 1068403
Due to the COVID-19 pandemic, the global Microalgae market size is estimated to be worth US$ 300.25 million in 2022 and is forecast to a readjusted size of US$ 421.08 million by 2028 with a CAGR of 5.80% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Spirulina accounting for 61.32% of the Microalgae global market in 2021, is projected to value US$ 257.48 million by 2028, growing at a revised 5.79% CAGR from 2022 to 2028. While Health segment is altered to a 5.45% CAGR throughout this forecast period (2022-2028).
China Microalgae market size was US$ 90.84 million in 2021, while the US and Europe Microalgae were US$ 59.24 million and US$ 51.08 million, severally. The proportion of the US was 20.84% in 2021, while China and Europe are 31.96% and 17.97% respectively, and it is predicted that China proportion will reach 30.74% in 2028, trailing a CAGR of 5.20% through the analysis period (2022-2028). As for the Europe Microalgae landscape, Germany is projected to reach US$ 21.41 million by 2028 trailing a CAGR of 6.64% over the forecast period (2022-2028).
The global key manufacturers of Microalgae include DIC Corporation, Cyanotech Corporation, Algaetech Group, TAAU Australia, Fuqing King Dnarmsa Spirulina, Shengbada Biology, Green A Biological, Dongtai City Spirulina Bio-Engineering, and Alltech, etc. In 2021, the global top five players hold a share approximately 47.34% in terms of revenue.
Microalgae market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Microalgae market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by Type, and by Application for the period 2017-2028.