What are the Key Growth Drivers of Algae Supplements Market?

The report offers actionable and valuable insights on the Algae Supplements market. The latest report by Fact.MR provides details on the present scenario of the Algae Supplements market across various regions along with the historic data and forecast of the Algae Supplements market. The report also includes information on the sales and demand of Algae Supplements across various industries and regions. Market dynamics including latest trends, challenges, growth opportunities, and drivers for is also provided in the Algae Supplements market report.

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According to a recent report by Fact.MR, worldwide sales of algae supplements are estimated to surpass 4,300 tons in 2019, recording a 6% Y-o-Y growth over 2018. Surging demand for nutritional supplements and growing trend of dietary reassessments by consumers point at bright prospects of the algae supplements industry. Algae supplements continue to gain monumental traction among health-conscious consumers, who are increasingly drawn toward the unique benefits of algae-based products.

“Consumer spending on products offering functional benefits is higher than ever, creating sustained opportunities for the algae supplements industry. Consumers are increasingly attracted toward nutritional supplements and are incorporating them into their diets to lead healthier lifestyles. Augmented interest in preventive healthcare has created a massive shift toward nutritional supplements and this, in turn, is being captured by the players in the algae supplements market, as a dynamic opportunity to boost their bottom line sales”, states Fact.MR report.

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The study finds that multiple research studies carried out in favor of algae as a viable food supplement are contributing to growth of algae supplements market during the forecast period. Algae supplements are rich in proteins, minerals, and amino acids, which make them an ideal fit for consumers seeking the much-needed nutritional boost.

Drug Stores Remain the Preferred Buying Channel: Survey

According to the report, drug stores lead, both in terms of new sales and new purchases, on account of easy availability and consumer confidence. Sales are also growing through online channels, as doorstep delivery and lower prices attract a new demographic of consumers.

The study also analyzes supply-demand for algae supplement variants, and opines that spirulina-based algae supplements will remain the top-selling category, with global sales estimated to exceed 2,200 tons in 2019. Consumer perception on spirulina’s versatility and nutritional benefits is likely to influence manufacturers to launch a diverse range of products in the market.

Sensing varied consumer preferences regarding consumption of algae supplements, companies have introduced various forms of these supplements including tablets, capsules, liquids, powders & granules, and softgels. Softgels are expected to witness a relatively larger adoption, with global sales estimated to surpass 1,100 tons in 2019. The study finds that consumers are increasingly opting for softgels as they are relatively easier to swallow, and are devoid of any pungent smells characteristic of the ingredients used in manufacturing algae supplements.

According to the report, manufacturers’ efforts to position themselves as a one-stop destination for multiple product varieties will remain a key strategy to gain a competitive edge in the algae supplements market. In addition, manufacturers are keeping a close track of regulatory shifts to make respective product reformations, in a bid to avoid supply disruption.

The Fact.MR research study offers an incisive forecast on the algae supplements market for the period, 2019 to 2027. The algae supplements market is likely to record a volume CAGR of nearly 7.0% through 2027.

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The Algae Supplements Market research answers important questions, including the following:

1. Why Algae Supplements Market players are focusing on the business expansion in region?
2. Which regulatory authorities have granted approval to the application of Algae Supplements Market
3. What are the pros and cons of the Algae Supplements Market the environment?
4. Why players are targeting the production of segment?
5. What are the strategies implemented by emerging players in the global Algae Supplements Market?

The Algae Supplements Market report serves the readers with the following data:

• In-depth analysis of supply-side and demand-side trends.
• Direct and indirect impacts of the growth of relevant markets on the Algae Supplements
• Importance of segment in various regions.
• Accurate Y-o-Y growth of the global Algae Supplements
• Consumption trends among individuals across the globe.

 

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