Demand for Microalgae in the Personal Care and Cosmetics Sector Market value is expected to reach US$ 76.50 Million by 2031

Microalgae is extensively used for its antioxidant properties that promote skin health by increasing moisture retention, and elasticity, surpassing other carotenoids and commonly used antioxidants. According to a recent report by Future Market Insights the demand for microalgae in the personal care and cosmetics sector is expected to cross US$ 76.5 Mn by 2031.

A series of human studies conducted by numerous leading companies in this field including BASF SE, BGG, and Fuji Chemical Industry suggested that microalgae could visibly and significantly reduce the depth of wrinkles and the appearance of skin texture, by minimizing age spots, while improving moisture content.

Microalgae is gaining interest for its roles as a preventative and reparative anti-aging agent. Microalgae helps to protect eyes from oxidative stress and radiation. Species such as chlorella is helpful for prevention of eye diseases.

Zeaxanthin is a photoprotective pigment found in plants and algae that displays stronger antioxidant activity than other plant sources. Zeaxanthin, like lutein, plays a protective role and aids in eye healing. These factors are encouraging the production and consumption of microalgae eye products.

For Instance, in April 2019, Microalgae ingredient specialist AlgaTechnologies Ltd. (Algatech) launched a new product within its astaxanthin product line – AstaPure EyeQ – a microencapsulated, cold water-soluble, 2 percent astaxanthin powder, marketed for promoting superior vision functionalities.

Key Takeaways from the Demand for Microalgae in Personal & Cosmetics Sector Study:

The U.S. is estimated to account for 89.9% of the North America market in 2021, supported by a strong clean label movement in the American personal care industry. China is estimated to account for 41.9% of the Asia Pacific in 2021, driven by easy access to raw materials and lower labour costs. Germany accounted for over 17% of the Europe market in 2021, driven by concerns over the side effects of synthetic ingredients in conventional cosmetics. Fresh water microalgae will reflect an above average 3.7% CAGR through 2031 owing to easier availability and higher yield. Spirulina products account for over 38% of the market, owing to widespread cultivation and cost-effective yields for personal care and cosmetics manufacturers.

“Consumers value quality above all. As a result, companies engaged in microalgae-based products manufacturing are investing in R&D to offer high-quality products, while focusing on adopting cutting-edge technology that will enable players to maintain premium standard in the personal care and cosmetics sector,” said a lead analyst at FMI.

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Who is Winning?

Manufacturers of cosmetic ingredients have started customizing their products to suit the needs of their clients, and the applications for which such ingredients are required. Moreover, the increasing demand for clean label and natural products in the cosmetic and personal care industry has pushed manufacturers to invest in R&D facilities to innovate products as per market trends.

Some of the leading companies offering microalgae in the personal care and cosmetics sector are  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., and others.

Demand for Microalgae in Personal Care & Cosmetics Sector by Category

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-ageing

Acne Preparations

Moisturizers

Skin Whitening Creams

UV-protection

Others

Oral Care

Cosmaceuticals

Others

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By Region:

North America

Latin America

Europe

Asia Pacific

Middle East and Africa (MEA)

About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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