Beauty from the Deep: Unveiling the US$ 76.50 Million Personal Care and Cosmetics Microalgae Market by 2031

The demand for microalgae in personal care and cosmetics will soar with worldwide revenues up by 4.0% in 2021. Future Market Insights (FMI) estimates that the revenue generated from microalgae demand will grow by 1.5X of the current market valuation between 2021 and 2031, reaching nearly US$ 76.50 Mn in 2031.

Over the course of the forecast period, the market is expected to register a compound annual growth rate (CAGR) of 4.2%

Consumers are shifting to vegan beauty items as their knowledge of animal welfare grows. Microalgae extracts have emerged as an acceptable vegan option for the production of cosmetic products, opening up new opportunities in the cosmetics industry.

Market players are looking to capitalize on the anti-inflammatory and anti-microbial properties of microalgae for treating oral disorders. Algal extracts are now used in creating toothpastes, functional chewing gums, and mouthwash as gelling and water binding properties of hydrocolloids are becoming popular in dentistry.

Research on microalgae offered evidence that oral cancer prevention capabilities are present in them and can be used in treating chronic periodontitis and other dental disorders. These factors are expected to fuel the market growth in the upcoming years.

Some species of microalgae have shown promising results in treating eye disorders. Zeaxanthin exhibits higher antioxidant properties than other plant sources and acts as a protective covering thus, aiding in eye healing. This has positively influenced the demand of microalgae in eye product segment.

The COVID-19 pandemic hindered global personal care and cosmetic sales owing as various retail outlets and stores remained shuttered during an extensive period of lockdown. Coupled with this, disruptions in transportation and production caused by stringent lockdown also hampered sales to an extent.

Nonetheless, recovery is fast approaching with the government easing restrictions after vaccine rollouts.

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Key Takeaways

Competitive Landscape

Euglena, Koninkliijke DSM NV, Sun chlorella, Fuji Chemical Industries Co. Ltd., and Novagreen are the top five market players operating this market. As per the market analysis, they account for more than 35% share in global microalgae personal care and cosmetics market.

With rising popularity of organic products and clean label in personal care and cosmetic sector, market players are focusing on developing new products made from natural ingredients. They are also investing in research and development to keep up with market trends.

For instance,

Some of the leading companies operating in the microalgae personal care and cosmetics market are:

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More Insights on the Demand for Microalgae Personal Care and Cosmetics Sector

Future Market Insights, in its new study, provides an unbiased analysis of the microalgae personal care and cosmetics market, presenting historical demand data and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the microalgae personal care and cosmetics market with a detailed segmentation on the basis of

By Species Type:

By Source:

By End Use Application:

Key Questions Covered in the Report

About Us

Future Market Insights (ESOMAR certified 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.

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