Algal Pigments Market Valuation to Climb to $669.8 Million by 2030

Meticulous Research®, a leading global market research firm, has unveiled a new report titled "Algal Pigments Market by Type (Beta-Carotene, Astaxanthin, Phycocyanin, Phycoerythrin, Chlorophyll), Form (Powder), Source (Microalgae, Macroalgae), Application (Food & Beverages, Aquaculture, Nutraceuticals, Pharmaceuticals, Cosmetics) – Forecast to 2030."
Download Free Sample Report: https://www.meticulousresearch.com/download-sample-report/cp_id=5059?utm_source=sb&utm_medium=social&utm_campaign=product&utm_content=27-06-2024
Projected Growth: According to Meticulous Research®, the global algal pigments market is set to surpass $669.8 million by 2030, with a strong CAGR of 7.2% from 2023 to 2030. Key drivers of this growth include the rising demand for natural colorants and the expanding use of algal pigments in therapeutic and nutritional applications. Additionally, the increasing consumer preference for clean-label products and the shift away from synthetic colors further fuel market growth. However, high production costs, complex algae cultivation processes, and contamination risks present significant challenges.