According to the research report titled ‘Global Microalgae in the Personal Care and Cosmetics Sector Market Size study, by Species Type (Spirulina, Chlorella, Dunaliella, Haematococcus, Schizochytrium, Euglena, Nannochloropsis, Nostoc, Phaedactylum, Others) by Source (Marine Water, Fresh Water) by end use industries (Fragrance, Hair Care, Eye Care, Skin Care, Oral Care, Cosmaceuticals, Others) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global microalgae in the personal care and cosmetics sector market is expected to witness subtle growth during 2022-2028. 

Widespread awareness about the health benefits associated with microalgae, along with the proliferating cosmetics sector are factors propelling the growth of global microalgae in the personal care and cosmetics sector market.

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For those unaware, microscopic algae can be found in both freshwater and saltwater biosphere. In the cosmetics business, microalgae compounds are used in a selection of items such as sunscreen products, skin-whitening agents, anti-aging lotions, etc.

Surging penetration of e-commerce platforms particularly in developing nations, rapid urbanization, and increasing pollution levels are likely to enhance the adoption of the product and generate promising opportunities for the enterprises in this domain through the review period. 

Despite the optimistic outlook, the dearly cost of organic cosmetics as well as huge capital involved in the extraction of microalgae are anticipated to hinder the progress of the business sphere in the forthcoming years. 

For better understanding of worldwide microalgae in the personal care and cosmetics sector market situation, the report shares growth rate forecasts of each vertical which is divided based on species type, end-use, and source. This information will give the interested parties a concise depiction for future revenue generation opportunities.

Speaking of geographical realm, North America market is slated to record substantial revenue share during the assessment period, owing to rising adoption of vegan and organic products by the people across the region. 

Meanwhile, Asia Pacific industry is poised to grow at a significant rate during the analysis period, due to surging population and increasing income level of people which are creating remunerative prospects for the product. 

The key players in global microalgae in the personal care and cosmetics sector industry include names like Sinoway Industrial Co. Ltd., DIC Corporation, KDI Ingredients, Cyanotech Corporation, BGG (Beijing Gingko Group), Koninklijke DSM N.V., Parry Nutraceuticals Ltd., Roquette Frères, Fuji Chemical Industries Co. Ltd., and BASF SE among others.