Algae Products Market for Cosmetics to Reach $1.10 Billion by 2031

Algae Products Market for Cosmetics by Type (Hydrocolloids, Lipids, Carotenoids), Source (Seaweed, Microalgae {Chlorella, Spirulina}), Form (Dry, Liquid), Application (Skin Care {Moisturizers}, Hair Care Products), and Geography – Global Forecast to 2031

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.