Meticulous Research®—leading global market research company, published a research
report titled ‘Algae Products Market for Cosmetics by Type (Hydrocolloids, Lipids,
Carotenoids), Source (Seaweed, Microalgae {Chlorella, Spirulina}), Form (Dry,
Liquid), Application (Skin Care {Moisturizers}, Hair Care), and Geography - Global
Forecast to 2031’.
According to this latest publication from Meticulous Research®, the algae products
market for cosmetics is projected to reach $1.10 billion by 2031, at a CAGR of 9.6%
from 2024 to 2031. The growth of the algae products market for cosmetics is driven by
the growing cosmetics industry, increasing consumer preference for cruelty-free and
vegan cosmetics, and rising awareness regarding the health benefits of organic
cosmetic products. However, the complexities in algae production and the lack of R&D
activities in underdeveloped countries restrain the growth of this market.
Furthermore, the growing demand for personalized cosmetic products is expected to
generate growth opportunities for the stakeholders in this market. However, the risk of
algae contamination is a major challenge impacting the growth of the algae products
market for cosmetics.
Moreover, the rising adoption of eco-friendly packaging and sustainable practices in the
cosmetics industry is a prominent trend in the algae products market for cosmetics.
Key Players
The algae products market for cosmetics is moderately competitive due to the presence
of many large and small-sized global, regional, and local players. The key players
operating in the algae products market for cosmetics are Algatechnologies Ltd. (a part
of Solabia Group) (Israel), BASF SE (Germany), BDI BioLife Science GmbH (Austria),
Bluetec Naturals Co., Ltd (China), Cargill, Incorporated (U.S.), DIC Corporation (Japan),
Seagrass Tech Private Limited (India), Tianjin Norland Biotech Co., Ltd. (China),
COMPAÑIA ESPAÑOLA DE ALGAS MARINAS S A (Spain), W Hydrocolloids, Inc.
(Philippines), SNAP Natural & Alginate Products Pvt. Ltd. (India), AlgoSource (France),
Algamo s.r.o. (Czech Republic), Zhejiang Binmei Biotechnology Co., Ltd. (China),
Algalimento SL (Spain), and Shaivaa Algaetech LLP (India).
The algae products market for cosmetics is segmented by type (hydrocolloids
{carrageenan, alginate, agar, and other hydrocolloids}, lipids, carotenoids {astaxanthin,
beta carotene, lutein, and other carotenoids}, and algal proteins), source
(seaweed/macroalgae {red seaweed, brown seaweed, and green seaweed}, microalgae
{spirulina, chlorella, Dunaliella salina, Haematococcus pluvialis, nannochloropsis, and
other microalgae}), form (dry and liquid), application (skin care {anti-aging products,
moisturizers, sunscreen lotions/UV-protection products, and other skin care products},
hair care {hair conditioners & shampoos and other hair care products}, and other
cosmetic applications), and geography (North America, Europe, Asia-Pacific, Latin
America, and Middle East & Africa). The study also evaluates industry competitors and
analyzes the market at the regional and country levels.
Based on type, the algae products market for cosmetics is segmented into
hydrocolloids, lipids, carotenoids, and algal proteins. In 2024, the hydrocolloids
segment is expected to account for the largest share of the algae products for
cosmetics, mainly due to the increasing use of carrageenan, alginate, and agar in
cosmetic products. Carrageenan, derived from algae, is widely used in skin care
formulations as a binding, thickening, and gelling agent. Additionally, this natural
ingredient serves as an alternative to synthetic materials such as Polyethylene Glycol
(PEG) and carbomer, which are commonly used as thickening agents in cosmetic
products but are known to be harmful.
Based on source, the algae products market for cosmetics is segmented into
macroalgae/seaweed and microalgae. In 2024, the macroalgae/seaweed segment is
expected to account for the larger share of the algae products market for cosmetics
owing to the abundant availability of seaweed as a raw material for cosmetic and
personal care products manufacturing, the increasing production of seaweed, and
growing awareness regarding the health benefits of seaweed products. Furthermore,
the active components derived from seaweeds serve various applications, acting as
antioxidants, antibacterial and whitening agents, anti-aging solutions, and anti-acne
treatments, driving their adoption in the formulation of skin care products.
Based on form, the algae products market for cosmetics is segmented into dry and
liquid. In 2024, the dry segment is expected to account for the larger share of the algae
products market for cosmetics mainly due to the longer shelf-life and ease of
transportation and storage of dry algae products compared to liquid algae products and
the increasing use of algae powder for product formulation in the cosmetics industry.
Based on application, the algae products market for cosmetics is segmented into skin
care, hair care, and other cosmetic applications. In 2024, the skin care products
segment is expected to account for the largest share of the algae products market for
cosmetics owing to the increasing consumer preference for natural and organic skin
care products, the benefits of algae in skin care, growing skin health concerns, and
technological advancements in the cosmetics industry.
Geographic Review
This research report analyzes major geographies and provides comprehensive analyses
for North America (U.S. and Canada), Europe (France, Germany, U.K., Italy, Spain, and
Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of
Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Chile, and Rest of Latin America),
and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest
share of the algae products market for cosmetics due to the increasing demand for
natural ingredients from the region’s rapidly growing cosmetics industry and rising
awareness among consumers regarding the benefits of cosmetics with natural
ingredients. In addition, the presence of a large number of stakeholders engaged in
providing algae products for cosmetics manufacturing and the ample availability of raw
materials due to the favorable climatic conditions for algae production are further
expected to drive the growth of this market. Moreover, government initiatives aimed at
promoting the cultivation and usage of algae in the cosmetics and personal care
industries are expected to boost the algae products market for cosmetics in this region.
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Key Questions Answered in the Report:
• What is the revenue generated by the algae products market for cosmetics?
• At what rate is the global demand for algae products for cosmetics projected to
grow over the next 5-7 years?
• What was the historical market size, and what is the growth rate for the algae
products market for cosmetics?
• What are the major factors impacting the growth of this market at the global and
regional levels?
• What are the major opportunities for existing players and new entrants in the
market?
• Which type, source, form, and application segments are creating major traction
for the manufacturers in this market?
• What are the key geographical trends in this market? Which regions/countries
are expected to offer significant growth opportunities for the manufacturers
operating in the algae products market for cosmetics?
• Who are the major players in the algae products market for cosmetics? What are
their specific product offerings in this market?
• What are the recent key developments in the algae products market for
cosmetics? What impact have these strategic developments had on the market?
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