Microalgae Market By Segments, Key Leaders, Industry Demand And Forecast 2028

Rise in vegan population to strengthen product adoption, high protein concentration as compared to counterparts, benefits of microalgal protein drive the growth

WILMINGTON, DE, UNITED STATES, August 18, 2025 /EINPresswire.com/ -- Microalgae market size was accounted for $977.3 million in 2020, and is estimated to reach $1.48 billion by 2028, growing with a CAGR of 5.4% from 2021 to 2028.

Rise in vegan population to strengthen product adoption, high protein concentration as compared to counterparts, multiple benefits of microalgal protein drive the growth of the global microalgae market. However, impact on spirulina production due to climate change, presence of large number of alternatives for protein and low product awareness hinder the market growth. On the contrary, technological innovations and algae protein-fortified food are expected to open new opportunities for the market players in the future.

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Alternative proteins sourced from algae have immense potential to create food products that are healthier and more ecologically sustainable. Thus complex ecological and environmental problems associated with animal agriculture to result in paradigm shift towards algae related products.

The microalgae market is subject to stable growth in the coming years. Growth of the market is attributed to growing application of algal protein in dietary supplements and food industry. Moreover, algal protein is not considered an animal protein source, hence is perfect for consumption among vegan population. Furthermore, microalgae have multiple applications in cosmetics and feed industries. Both feed and cosmetics industry have experienced a surge in growth in the recent decade, which has increased demand for such products on a global level and resulted in increase in demand for microalgae. However, uncertainties in climatic conditions leading to problems in algae production act as restraint for the market growth. On the contrary, breakthroughs in microalgae production technology and growing adoption of microalgae in the fortified food sector is expected to provide opportunities for growth of the microalgae market in the coming years.

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The microalgae market has been segmented on the basis of type, application, and region. By type, the market is divided into spirulina, chlorella, dunaliella salina, and aphanizomenon flos-aquae. On the basis of application, it is divided into dietary supplements, food/feed, pharmaceutical, cosmetics, and others. Furthermore, it includes revenue generated from sales of Microalgae across North America (the U.S., Canada, Mexico), Europe (Germany, the UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

The global microalgae market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for more than one-third of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 6.7% during the forecast period.

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Microalgae are microscopic organisms that are unicellular and can exist individually, in chains, or groups. Based on the species, their sizes may range from a few micrometers (μm) to a few hundred micrometers. Unlike plants, microalgae do not have roots, stems, or leaves.

The global microalgae industry includes an in-depth analysis of the prime market players such as Algenol Biotech, Cyanotech Corporation, Cellana Inc., E.I.D Parry ltd., DIC Corporation, Kent BioEnergy Corporation, Fuqing King Dnarmsa Spirulina Co. Ltd., Holdings, Inc., Taau Australia Pty Ltd., and Astareal AB.

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