Demand for Microalgae in the Food and Beverage Sector rising at a CAGR of 2.9% for 2021-31
The demand for microalgae in the food and beverage sector is expected to reach a value of US$ 99,623.3 Thousand in 2021. As per Future Market Insights (FMI), the overall market value is expected to reach US$ 1, 32,531.2 Thousand by 2031, rising at a CAGR of 2.9% for 2021-31. Use of microalgae in enhancing taste, texture, flavor, aroma, and nutritional value of food products are key factors encouraging microalgae applications in the food and beverage sector. According to a recent FMI report, the demand for microalgae in food and beverage sector will surpass a valuation of over US$ 99,623.3 Thousand in 2021, rising at a CAGR of around 3% through the end of 2031. Microalgae products are specialized in terms of applications. This is a key factor that increases the product’s market worth. The fact that microalgae are considered clean label adds to their appeal. Due to myriad potential applications, further research is being...