Macroalgae Market is projected to reach worth of US$ 18,305.1 Million at CAGR of 7.8% during forecast period 2023 to 2033 | Data by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
The Japan macroalgae industry is projected to grow at a CAGR of 7.6% during the projection period. By 2033, the total market valuation in China is expected to reach US$ 296.7 million. The demand for macroalgae in China is anticipated to rise at a robust CAGR of 9.5% during the assessment period. By 2033, the China macroalgae market is forecasted to surpass a valuation of US$ 2,325.6 million
NEWARK, Del, June 08, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the worldwide macroalgae market is valued at US$ 9,302.6 million in 2023 and it is anticipated to reach US$ 18,305.1 million by 2033. Over the next decade, global macroalgae demand is likely to increase at a CAGR of 7.8%.
Increasing applications of macroalgae across food & beverage, pharmaceutical, agriculture, and other sectors is expected to boost the global market.
Due to the growing use of macroalgae ingredients and proteins in the production of aquaculture, pharmaceutical, and nutraceutical products, market sales are anticipated to rise.
The government's expanding efforts to standardize macroalgae cultivation and support macroalgae farmers will help open up new opportunities for manufacturers.
Market expansion is anticipated to be fueled by the rising use of algae photobioreactors. Advancements in technology are allowing companies to easily cultivate micro and macroalgae on large scales.
Growing awareness about the potential health benefits of macroalgae and rising preference for seaweed proteins will further boost the market. Seaweed proteins are crucial to meeting the world's needs because they have many advantages over other protein sources.
The market is also anticipated to expand as a result of the quick development of novel strains and scientific developments that can withstand high salinity and boost energy effectiveness.
Key Takeaways from this Market Report:
The global macroalgae market is expected to reach a valuation of US$ 18,305.12 million by 2033.
Global demand for macroalgae is likely to soar at 7.8% CAGR over the forecast period.
Based on type, demand is likely to remain high for red macroalgae globally.
By application, food & beverages segment is projected to hold a dominant market share.
The United States macroalgae market size is anticipated to reach US$ 2,697.7 million by 2033.
Macroalgae demand in China is forecast to increase at 9.5% CAGR through 2033.
India macroalgae industry is poised to exhibit a CAGR of 10.8% during the assessment period.
“The market for macroalgae is expanding as a result of rising interest in environmentally friendly, plant-based food sources as well as growing public awareness of the advantages of seaweed farming. To grab emerging opportunities, companies are rigorously investing in research & development as well as expanding their portfolios,”- says a lead analyst at Future Market Insights (FMI).
Qingdao Gather Great Ocean Algae Industry Group (GGOG)
Seasol International Pty Ltd
Yan Cheng Hairui Food Co., Ltd.
Ocean Harvest Technology Limited
Mara Seaweed
Algatechnologies
These companies are concentrating on expanding their portfolios by introducing new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
In 2020, a new range of organic seaweed-based products was introduced by Algaia.
Get More Valuable Insights:
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global macroalgae market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the macroalgae market based on type (red macroalgae, green macroalgae, brown macroalgae) and application (food & beverages, agriculture, pharmaceuticals, cosmetics & personal care, and others) across various regions.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. Buy Now to gain access to detailed information about each segment@https://www.futuremarketinsights.com/checkout/9276
About the Food & Beverage Division at Future Market Insights (FMI):
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Explore FMI’s related ongoing Coverage on Food and Beverage Domain:
Microalgae Market Size: The microalgae market is estimated to secure a valuation of US$ 11.8 billion in 2023 and is predicted to reach US$ 25.4 billion by 2033. The market is capturing a CAGR of 8% during the forecast period.
Pet Food Microalgae Market Share: The pet food microalgae market is slated to reach US$ 24 million by 2023. By the end of 2033, the market is pegged to achieve US$ 38.3 million, meanwhile expanding at a CAGR of 5%.
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USA Animal Model Market Outlook: The USA animal model market valuation reached around US$ 947.3 million back in 2022. The demand in the USA animal model is set to increase at a 4.3% CAGR from 2023 to 2033. The demand for animal models in the United States, in terms of value, is anticipated to reach US$ 1,487.9 million by 2033.
Animal Digest Market Overview: The global animal digest market is anticipated to reach a value of US$ 112.1 billion in 2023. From 2023 to 2033, a moderate 5.1% CAGR is likely to accelerate the market and result in a US$ 184.6 billion in 2033.
Digestive Health Drinks Market Demand: The global digestive health drinks market is expected to reach US$ 26 Billion by 2022, with sales increasing at a CAGR of 6.09% over the assessment period. As per the report, the market valuation is forecast to reach US$ 47 Billon by 2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
