Frequently Asked Questions:
During the Covid-19 pandemic period, the market faced a significant reduction in sales due to supply chain disruptions, lack of labor, partial or complete closure of manufacturing facilities, and difficulties in the procurement of raw materials. However, the COVID-19 disease has raised consumer health attention and expenditure on healthy food goods. As a result, the post-COVID period is likely to have a beneficial impact on market growth.
North America will be the largest market for algal products in the forecast period. Growing industries such as food and beverage, nutraceutical, pharmaceutical, and dietary supplements have all contributed considerably to the market’s expansion in the United States.
The worldwide algae products market is being driven by increased consumer knowledge about the health benefits of omega3 and multi-industry coverage.
Brown algae were the leading segment in the global market in 2020, owing to its high carrageenan and algal protein content, as well as a wide range of applications.
The nutraceuticals market is the most profitable due to rising health consciousness. Meanwhile, due to the health benefits connected with the intake of algal products, the demand for dietary supplements is predicted to expand rapidly.