Trends and Market Potential of Algae
The global algae market, including chlorella and spirulina, is showing steady growth, driven by increasing awareness of their health benefits and growing interest in healthy lifestyles. Specifically, the spirulina market is projected to reach $1.2 billion by 2030, growing at an average annual rate of 11% from 2023 to 2030. Similarly, the chlorella market is expected to grow at an average annual rate of 7.0%, reaching $336 million by 2030. These growth rates are supported by rising demand for natural food supplements, plant-based products, and nutraceuticals.
Key growth drivers include the increasing number of vegetarians and vegans, higher demand for plant-based proteins, and a focus on healthy living. Innovations in the use of algae in the food industry and pharmaceuticals also play a significant role, opening new opportunities for producers and exporters of chlorella and spirulina.