Algae extract is derived from various classes of seaweed, including red algae, blue-green algae, brown algae, and green algae. Each class possesses molecules that enhance skin benefits, featuring components such as amino acids, omega-3 fatty acids, and vitamins A, B, C, and E. In skincare, algae extracts are employed for their hydrating properties and collagen support.

According to SPER market research, ‘Global Algae Extracts Market Size- By Source, By Form, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Algae Extracts Market is predicted to reach 11.95 billion by 2034 with a CAGR of 7.46%.

Drivers:

Several essential factors are advancing the algae extract market. Fundamentally, the growing awareness of health and wellness amongst consumers is pivotal. Algae extracts, especially spirulina and chlorella, are esteemed for their nutritional advantages and are increasingly being incorporated into dietary supplements and functional foods. Moreover, the worldwide shift towards plant-based diets is enhancing the demand for algae-derived protein sources, as they are perceived as a sustainable alternative to conventional animal protein. Additionally, the cosmetic sector is embracing algae extracts due to their anti-aging effects and skin hydration properties, resulting in increased sales of skincare items.

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Restraints:

The high manufacturing costs associated with algae culture and extraction techniques present a significant obstacle. There is limited technical expertise and infrastructure in specific regions, which can hinder production scalability, impacting supply chains. Furthermore, the market is vulnerable to changes in raw material prices, which can affect profit margins for producers. Stringent regulatory standards concerning the utilization of natural extracts in food and cosmetics may also create hurdles for new entrants aiming to adhere to industry regulations.

In 2024, the United States dominated the market for algal extracts. The development of the industry is greatly aided by the presence of substantial businesses and research centres in the country that concentrate on technologies for cultivating and harvesting algae. Customers' increasing desire for natural and environmentally friendly products across a range of industries, including personal care, food and drink, and medicines, is driving up demand for compounds made from algae. The U.S. market benefits from investments in eco-friendly operations and supportive legislation that speeds up the research and commercialisation of algae extracts. Some of the key market players are Arizona Algae Products, LLC, Blue Evolution, Corbion NV, Algatechnologies, Allmicroalgae, and others.

For More Information, refer to below link: –   

Algae Extracts Market Outlook

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