According to this latest publication from Meticulous Research®, the Dunaliella salina market is expected to record a CAGR of 4.0% from 2021 to 2028 to reach $122.9 million by 2028. In terms of volume, the Dunaliella salina market is expected to register a CAGR of 3.7% from 2021 to 2028 to reach 1,691.62 tons by 2028. The growth of this market is expected to be driven by factors such as the increasing demand for natural-source beta carotene, the rising need for natural colorants, and the growing use of Dunaliella salina in the cosmetics industry.
The Dunaliella salina market study presents historical market data in terms of value and volume (2019 and 2020), estimated current data (2021), and forecasts for 2028. The market is segmented based on end user and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on end user, the Dunaliella salina market is mainly segmented into extraction companies, food & beverage companies, feed companies, nutraceutical & health supplement companies, pharmaceutical companies, and cosmetics companies. The extraction companies segment is expected to command the largest share of the Dunaliella salina market in 2021. The segment is also expected to record the highest CAGR during the forecast period, owing to the growing demand for carotenoids, including beta carotene, alpha-carotene, zeaxanthin, lutein, and cryptoxanthin among several industries such as food & beverage, cosmetics, animal feed, and dietary supplements.
This research report evaluates major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (China, Australia, Japan, India, and RoAPAC), Latin America (Brazil, Mexico, Argentina, and RoLATAM) and the Middle East & Africa (Israel and Rest of the Middle East & Africa). Asia-Pacific is expected to command the largest share of the Dunaliella salina market in 2021, followed by North America and Europe. The large share of this regional market is mainly attributed to factors such as the presence of several local and regional players, various government initiatives to promote the use of algae and algal ingredients in several industries, rising consumption of natural food ingredients, and increasing demand for processed food products in emerging and developing countries including India, China, Indonesia, and Thailand. However, Europe is expected to register the highest CAGR during the forecast period mainly due to the huge food & beverage industry, strict regulations against the use of synthetic colorants, the rising health and wellness trend, high demand for natural colorants from various end-use industries, and rising government focus on the algae industry in the region.
The key players profiled in the Dunaliella salina market research report are Algalimento SL (Spain), Seagrass Tech Private Limited (India), Plankton Australia Pty Ltd (Australia), Hangzhou OuQi Food co., Ltd. (China), Shaanxi Rebecca Bio-Tech Co., LTD (China), Nutragreenlife Biotechnology Co., Ltd. (China), IBR Ltd. (Israel), Xi’an Fengzu Biological Technology Co., Ltd. (China), Monzón Biotech S.L. (Spain), A4F – Algae for Future (Portugal), and Fuqing King Dnarmsa Spirulina Co., Ltd. (China), among others.
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Key Questions Answered in the Report-
- Which are the high-growth market segments in terms of end user and region/country?
- What was the historical market size for Dunaliella salina across the globe?
- What are the market forecasts and estimates for 2021–2028?
- What are the major drivers, restraints, opportunities, and challenges for the global Dunaliella salina market?
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