Description
The global microalgae market size was USD 989.3 million in 2021, and it is expected to reach USD 1,485.1 million in 2028 with growth at a CAGR of 5.3% during the forecast period of 2022-2028. The development of this market is mainly attributed to the preference towards health & wellness trends and rising dietary supplements industry, increasing demand for natural food colors, increasing vegetarianism, cultivating nutraceutical industry, and increasing importance for microalgae sourced products.
What is Microalgae?
Microalgae are eukaryotic organisms seen in marine systems, soil environments, or freshwater and are essential to the food chain. Spirulina and Chlorella are the two important microalgae strains with massive anti-oxidant effects and are widely utilized in the production of microalgae food.
