Microalgae-Based Products Market is expected to expand at an impressive rate by 2028Posted by Prabha Mahajan on October 6th, 2022  The Microalgae-Based Products Market was valued at US$ 1,547.23 million in 2020 and is projected to reach US$ 2,811.10 million by 2028; it is expected to grow at a CAGR of 7.9% from 2021 to 2028. Microalgae are defined as prokaryotic or eukaryotic microorganisms that can be traced with the help of a microscope. These microscopic organisms are unicellular species that are founded separately or in chains or groups and can be sourced out from freshwater and marine systems. These microorganisms possess a simple cell structure and require light, carbon dioxide, water, and essential nutrients such as phosphorus and nitrogen, for their growth. Further, microalgae are a source of vital phytochemicals such as carotenoids, fiber, minerals, antioxidants, fatty acids, vitamins, halogenated compounds, polysaccharides, proteins, lectin, and others. Microalgae are considered to be a valuable biomass source portraying diverse potential applications in numerous industries. Microalgae-based Products or bio-based chemicals are defined as those categories of chemicals, which are synthesized from renewable sources such as agricultural feedstock, agricultural waste, organic waste products, biomass, and microorganisms. Microalgae-based Products are categorized as sustainable and environment-friendly chemicals which emits fewer carbon footprints as compared to traditional petro-based chemicals. Some of the most widely available Microalgae-based Products are lignin, carbohydrates, oils, plant extractives, hemicellulose, cellulose, starch, protein and others. Such chemicals find application in diverse application bases such as food and beverage, agriculture, textiles, automotive, packaging and others. Request Copy of Microalgae-Based Products Market Growth Report https://www.theinsightpartners.com/sample/TIPRE00020164/ Renewable sciences have been regarded as one of the effective ways to promote the quality of air, water, and soil and contribute to sustainability by commercializing the use of eco-friendly bio-based chemicals in diverse applications. Eco-friendly sustainable Microalgae-based Products can be sourced from renewable feedstocks such as biomass, agricultural residues or feedstock, and microorganisms with the help of green chemistry synthesis or biorefineries. The chemicals have been identified as cost-competitive resources and portray potential for effective substitution of petrochemicals with renewable resources. Several nations are aiming to surpass the dependency on fossil-based resources. Also, the growing concern toward environmental degradation along with climate change propel the demand for Microalgae-based Products. Thus, several manufacturers are looking forward to meeting the demand along with paying close attention to the impact on the environment. Environment-friendly products help emit low carbon in the environment, which reduces the overall carbon footprint. About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: Like it? Share it! More by this author |