(Health-NewsWire.Net, August 08, 2022 ) According to a new market research report titled, “Dunaliella Salina Market by End User (Extraction Companies, Food & Beverage Companies, Feed Companies, Nutraceutical & Health Supplement Companies, Pharmaceutical Companies, Cosmetics Companies) and Geography - Global Forecast to 2028,” published by Meticulous Research®, the Dunaliella salina market is expected to grow at a CAGR of 4% from 2021 to 2028 to reach $122.9 million by 2028. Also, in terms of volume, the Dunaliella salina market is expected to grow at a CAGR of 3.7% from 2021 to 2028 to reach 1,691.6 tons by 2028. The growth of this market is mainly attributed to the increasing demand for natural-source beta carotene, the rising need for natural colorants, and the increasing use of Dunaliella salina in the cosmetics industry. Moreover, increasing demand for clean-label products further supports the growth of this market. However, complexities involved in the production of Dunaliella salina are expected to hinder the growth of this market.
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The Dunaliella salina market studied in this report is majorly segmented by end user (extraction companies, food & beverage companies, feed companies, nutraceutical & health supplement companies, pharmaceutical companies, and cosmetics companies) and geography. The study also evaluates industry competitors and analyses the market at a 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. In 2021, the extraction companies segment is estimated to account for the largest share of the overall Dunaliella salina market. Moreover, this segment is expected to record the highest CAGR during the forecast period due to the growing demand for carotenoids, including beta carotene, alpha-carotene, zeaxanthin, lutein, and cryptoxanthin in the manufacture of food & beverage, cosmetics, animal feed, dietary supplements, and other products.
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Based on geography, the Dunaliella salina market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, Asia-Pacific is estimated to account for the largest share of the global Dunaliella salina market, followed by North America, Europe, Latin America, and the Middle East & Africa. The large share of Asia-Pacific is mainly attributed to factors such as the presence of several local and regional players, rising government initiatives to promote the use of algae and algal ingredients in several industries, growing consumption of natural food ingredients, and rising demand for processed food products in emerging and developing countries such as India, China, Indonesia, and Thailand.
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However, the market in Europe is expected to register the highest CAGR during the forecast period mainly due to the huge food & beverage industry, rising health and wellness trends, stringent government regulations against the use of synthetic colorants, growing demand for natural colorants from various end-use industries, and rising government focus on the algae industry in the region.
Some of the key players operating in the global Dunaliella Salina Market 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 – Algafuel S.A. (Portugal), and Fuqing King Dnarmsa Spirulina Co., Ltd. (China), among others
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