Global Algae Market to Reach USD 61.79 Billion by 2032, Driven by Biofuel and Nutraceutical Demand
The Global Algae Market is poised for significant growth, reaching USD 61.79 billion by 2032 at a CAGR of 11%. The increasing demand for sustainable food, biofuels, nutraceuticals, and bioplastics is fueling market expansion. Algae-based products are widely used in food & beverages, pharmaceuticals, cosmetics, and bioenergy industries due to their high nutritional value and eco-friendly nature. North America and Europe lead the market, with Asia-Pacific experiencing rapid growth in algae farming and biofuel investments. Major players such as Cyanotech Corporation, Cargill, BASF SE, and DSM are driving innovations in algae production and commercialization.