Consumers prefer sustainable ingredients when it comes to food and beverage consumption. Thus businesses operating in the food industry are investing in research and development to produce exclusive and high quality goods, as well as embracing the newest expertise which will allow them to ascertain high-quality standards.
Customers predominantly favor brands that have the finest quality products. Hence, competition is growing in the microalgae sector. Coupled with this, they are willing to pay more for high-quality products since they desire food products that are produced using organic ingredients.
Key Takeaways from Microalgae Market
- In terms of species, spirulina is leading with value share with 41.7% in 2021.
- Phaedactylum is expected to grow with CAGR 7.9% over forecast period in microalgae food sector.
- Among end users, health and medical segment is leading microalgae market in 2021, followed by food and beverage sector.
“Manufacturers operating in the microalgae market are aiming at manufacturing self-sustainable products and offer consumers a greater choice of new category products including microalgae as key ingredient,” said a lead analyst at FMI
To Get Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13748
Increasing Functionality of Microalgae to Propel Growth
The microalgae ingredients currently available in the market do not serve a single purpose. Each microalgae species could be used for a number of purposes. This raises the product’s market value. Its clean label nature also adds to its allure. Because of its range of functionality, researches are being conducted to discover new functionalities and to use microalgae products in these applications to achieve better results.
Despite the fact that different microalgae products have different applications, the function of all of them is essentially the same. The only difference between these products is their effect in these applications.
Who is winning?
Customers are increasingly focusing on service and quality. As a result, companies are investing in research and development initiatives to create unique and innovative high-quality product lines, as well as concentrating on integrating cutting-edge technology to maintain a high standard.
Various manufacturers are focusing on providing microalgae products at the best possible price, due to their increasing demand among customers.
Companies such as Pondicherry Spirulina Farms, an India-based Spirulina producer is selling powder spirulina at a price as low as US$ 3.7-4.5 per Kg which is the lowest price for Powder Spirulina in the world. Global average of Powder Spirulina is US$ 6.5-12.5 per Kg
Some of the other leading microalgae producers are Parry Nutraceuticals, DIC Corporation, Roquette Frères, BASF SE, Fuji Chemical Industries Co., Ltd, BGG (Beijing Gingko Group), Lonza Group AG, Chlorella Industry Co., LTD. Koninkliijke DSM NV, Yunnan Green-A-Bio-engineering Co Ltd, and many more.
Ask More About This Report@ https://www.futuremarketinsights.com/ask-question/rep-gb-13748
Key Points Covered in Microalgae Market Study
- Market estimates and forecast 2021-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Microalgae Market And How To Navigate
- Recommendation on Key Winning Strategies
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com