The personal care and cosmetics microalgae market is expected to reach USD 61 million by 2023. The personal care and cosmetics microalgae industry is estimated to reach US$ 107.0 million by 2033, rising at a CAGR of 6% between 2023 and 2033.
The personal care and cosmetics industry has witnessed a surge in demand for natural and sustainable ingredients, with microalgae emerging as a promising source of bioactive substances. Projections indicate a significant expansion of the microalgae market within the personal care and cosmetics sector in the coming years.
This growth trajectory is propelled by increasing consumer preferences for natural and sustainable products, coupled with heightened awareness regarding the environmental impact of conventional cosmetic ingredients.
Producers of microalgae for cosmetics and personal hygiene are aggressively funding R&D to investigate new microalgae strains and improve production techniques. Creating a sustainable and scalable supply chain is the goal of this strategic focus in order to fulfil the increasing demand. With the industry realising the potential of these adaptable microbes, the market for microalgae in cosmetics and personal care is expected to rise significantly.
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Nature’s Elixir: Microalgae and the Rise of Eco-Friendly Cosmetics
The personal care and cosmetics business has uncovered a sustainable gem in its pursuit of eco-friendly practices: microalgae. Microalgae are a renewable resource with a low environmental imprint than petroleum or animal-derived substances due to their quick development and adaptation to varied settings. As consumer knowledge of sustainability grows, so does the demand for natural and sustainable cosmetic products.
Beauty firms are embracing a green approach, delivering new and eco-friendly products that not only enhance beauty but also preserve our world, by harnessing the power of microalgae.
From Pond to Perfection: Microalgae’s Miraculous Anti-Aging Discovery
Microalgae, a natural wonder, hold the key to young skin. These small creatures are rich in antioxidants, peptides, and fatty acids, and provide a plentiful source of anti-aging bioactive substances. The aging process of the skin can be gently resisted by integrating microalgae into skincare formulas such as creams, serums, and masks.
Wrinkles fade, suppleness is restored, and a beautiful, youthful glow emerges, allowing people to experience the eternal beauty that microalgae unleash.
Regional Outlook
The Glow Game’s Pioneer in North America
The personal care and cosmetics microalgae market favors North America as a leading competitor. Customers in the area are accepting eco-friendly substitutes thanks to a strong focus on sustainable beauty. North America is leading the way in microalgae-based cosmetic products thanks to the availability of state-of-the-art research facilities and a rising desire for natural ingredients.
Utilizing Ancient Wisdom in Asia Pacific
The custom of employing natural products in beauty routines is one that Asia-Pacific cherishes. Exploring the potential of microalgae is made possible by the area’s extensive knowledge of traditional medicine and herbal medicines.
The demand for microalgae-infused cosmetics is increasing in Asia-Pacific due to rising disposable incomes, an emphasis on maintaining young, and a growing awareness of environmental practices.
Key Takeaways
- From 2023 to 2033, the United States may gain a 32% market share in the global personal care and cosmetics microalgae market.
- Germany may control 10% of the global personal care and cosmetics microalgae industry from 2023 to 2033.
- Between 2023 and 2033, Japan may increase its share of the personal care and cosmetics microalgae industry to 0.8%.
- Australia to hold a 0.5% share of the personal care and cosmetics microalgae market from 2023 to 2033.
- Spirulina segment of the Species Type category is predicted to have a market share of 21.4% by 2033.
- The skin care sector wants to attain a substantial market share of 21.4% in the end use category between 2023 and 2033.
- The marine water sector wants to attain a substantial market share of 45% in the source category between 2023 and 2033.
- During the forecast period, China’s personal care and cosmetics microalgae business to expand at a CAGR of 6.7%.
- From 2023 to 2033, the United Kingdom’s personal care and cosmetics microalgae industry is estimated to register a 10.3% CAGR.
- India’s personal care and cosmetics microalgae market to record a CAGR of 4.5% through 2033.
Competitive Landscape
As businesses become aware of the advantages of microalgae-derived components and the need for natural and sustainable products, the personal care and cosmetics microalgae market has grown competitive.
Microalgae extracts are included by both established and new cosmetic companies in their product lines to create cutting-edge formulations. To guarantee a steady supply of high-quality microalgae extracts, specialized biotechnology companies with a focus on microalgae cultivation and extraction have arisen.
Recent Developments:
DSM Successfully Acquires Prodap, Increasing Portfolio of Animal Nutrition
DSM, a large, science-based firm with a global presence, has successfully acquired Prodap. This strategic acquisition expands DSM’s portfolio of animal nutrition products and demonstrates the company’s dedication to developing cutting-edge solutions for the changing demands of the market.
DIC Global and XYZ Corporation Announce a Strategic Partnership
Leading international corporation DIC Global has announced a strategic partnership with XYZ Corporation to promote innovation and enhance market presence. Both organizations might be well-positioned for future success in their respective industries thanks to this partnership’s enormous potential for growth and synergy.
Key Players Operating in the Market
- DIC Corporation
- Cyanotech Corporation
- Koninkliijke DSM NV
- Roquette Frères
- BASF SE
- Fuji Chemical Industries Co., Ltd.
- Parry Nutraceuticals
- BGG (Beijing Gingko Group)
- KDI Ingredients
- Sinoway Industrial Co., ltd.
- INNOBIO Corporation Limited
- Yunnan Alphy Biotech Co., Ltd
- Algaecan Biotech Ltd.
- Algatechnologies Ltd.
- Cardax, Inc.
- Igene Biotechnology, Inc.
- Fenchem Biotek Ltd.
- AstaReal Inc.
- Valensa International
- Kunming Biogenic Co., Ltd.
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Key Segments
By Species Type:
- Spirulina
- Chlorella
- Dunaliella
- Haematococcus
- Schizochytrium
- Euglena
- Nannochloropsis
- Nostoc
- Phaedactylum
- Others
By Source:
- Marine Water
- Fresh Water
By End Use Application:
- Fragrance
- Hair Care
- Hair Removal
- Hair Conditioning & Shampoos
- Hair Color
- Eye Care
- Skin Care
- Anti-aging
- Acne Preparations
- Moisturizers
- Skin Whitening Creams
- UV-protection
- Others
- Oral Care
- Cosmaceuticals
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa (MEA)
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