Global Microalgae Market Size, Share, and COVID-19 Impact Analysis, By Species (Spirulina, Chlorella, Nannochloropsis, Haematococcus, Isochrysis, Chlamydomonas, and Others), By Application (Food and Beverages Sector, Health and Medical Sector, Animal Feed Sector, Pet Food Sector, Cosmetics and Personal Care Sector, and Fertilizers Sector), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Microalgae Market Insights Forecasts to 2035

• The Global Microalgae Market Size Was Estimated at USD 12.68 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 8.05% from 2025 to 2035
• The Worldwide Microalgae Market Size is Expected to Reach USD 29.73 Billion by 2035
• Asia Pacific is expected to grow the fastest during the forecast period.

According to a research report published by Spherical Insights and Consulting, the global microalgae market size was worth around USD 12.68 billion in 2024 and is predicted to grow to around USD 29.73 billion by 2035 with a compound annual growth rate (CAGR) of 8.05% from 2025 to 2035. Opportunities in the microalgae market include increased demand for nutraceuticals, sustainable biofuel development, cutting-edge bioprocessing advancements, growing uses in aquaculture and cosmetics, and growing investments in scalable, environmentally friendly production platforms worldwide.

Market Overview

The production, harvesting, and commercialization of microscopic, photosynthetic algae species like spirulina, chlorella, and nannochloropsis for a variety of uses in nutraceuticals, functional foods, animal feed, biofuels, cosmetics, and pharmaceuticals are all included in the microalgae market. Microalgae are tiny, photosynthetic organisms that can produce valuable substances like proteins, pigments, omega-3 fatty acids, antioxidants, polysaccharides, and bioactive metabolites. In 2025, microalgae's future is going to establish the largest microalgae research and development facility in Europe in Spain, covering 50,000 square meters, with the goal of revolutionizing sustainable biotech breakthroughs and industrial efficiency. According to European Union launched four cutting-edge innovation hubs along the Mediterranean and Atlantic coasts in October 2025, aiming to scale up eco-friendly microalgae production for biofuels and nutrition. The growing research and development and applications in many industries, particularly in the food and feed sector, are driving the worldwide microalgae market. The demand for food has been driven by the population's fast growth, and shifting consumer preferences have further increased the need for protein in food and feed.

Report Coverage

This research report categorizes the microalgae market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the microalgae market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the microalgae market.   

Driving Factors    

Global demand for food, including meat, milk, eggs, and other livestock products, has been driven by the expanding population. The utilization of tiny algae as natural supplements or ingredients in animal diets has been thought to be the best option to satisfy the need for innovative feedstuffs. One of the main factors expected to propel microalgae market expansion is the increasing usage of microalgae as a protein substitute in animal feed. The food, pet care, and cosmetics sectors' growing need for natural, sustainable materials, as well as technological developments in photobioreactor systems, are the main factors driving the microalgae market.  

Restraining Factors

High production costs, low large-scale cultivation efficiency, technological complexity, inconsistent biomass yields, regulatory obstacles, and inadequate commercialization infrastructure are all factors limiting the microalgae market's potential for widespread adoption and slowing its expansion across consumer and industrial applications. 

Market Segmentation    

The microalgae market share is classified into species and application.  

• The spirulina segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.   

Based on the species, the microalgae market is divided into spirulina, chlorella, nannochloropsis, haematococcus, isochrysis, chlamydomonas, and others. Among these, the spirulina segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The spirulina market is growing as a result of its increased accessibility and widespread production. Additionally, spirulina is a concentrated supply of vitamins, fatty acids, and amino acids, making it perfect for a variety of fish species as well as shrimp, which account for the largest portion of aquaculture production. For Instance, in January 2025, the U.S. Department of Energy launched up to USD 10 million for algal R&D, while October saw a USD 2 million grant to UC Santa Cruz for carbon-captured spirulina.   

• The food and beverages segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the application, the microalgae market is divided into food and beverages sector, health and medical sector, animal feed sector, pet food sector, cosmetics and personal care sector, and fertilizers sector. Among these, the food and beverages segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Manufacturers in the food and beverage industry are using microalgae more frequently to improve flavor, color, and fortification. Algae are now found in many popular forms, such as energy bars, plant-based meat substitutes, and dairy substitutes. They are well-liked by vegan and health-conscious customers because of their natural sourcing and high nutritional content.  

Regional Segment Analysis of the Microalgae Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the microalgae market over the predicted timeframe.

North America is anticipated to hold the largest share of the microalgae market over the predicted timeframe. North America is a growing microalgae market due to the region's strong R&D capabilities, supporting sustainability-focused regulations, and growing demand for biofuels, omega-3 supplements, and animal feed. Advanced applications in aircraft and sustainable fuel projects, along with a strong focus on nutraceuticals and functional meals, are the main drivers of growth. Furthermore, North American nations like the United States, Canada, and Mexico have a substantial need for functional food and have seen notable advancements in the production of cattle and poultry. For instance, in September 2025, Canada launched a USD 1 billion boost for biofuels R&D in emphasizing microalgae feedstocks, while the U.S. DOE launched USD 150 million to scale algae projects through its Bioenergy Technologies Office.

Asia Pacific is expected to grow at a rapid CAGR in the microalgae market during the forecast period. The Asia Pacific region, which comprises nations like China, Japan, and India, has enormous growth potential due to these nations' thriving livestock industries and the growing need for cutting-edge product lines in the feed sector. Technological developments in large-scale cultivation, photobioreactor design, and bioprocessing efficiency further boost regional development. The Indian government claims that the nation is home to about 20% of all livestock worldwide. For Instance, in August 2025, India and Japan launched a USD 408 million biofuel innovation pact, focusing on microalgae-derived feedstocks to accelerate clean energy transitions and sustainable bioeconomy development.

Competitive Analysis:  

The report offers the appropriate analysis of the key organizations/companies involved within the microalgae market, along with a comparative evaluation primarily based on their types of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.  

List of Key Companies

• Lonza
• Daicel Corporation
• Jubilant Life Sciences Ltd.
• Toronto Research Chemicals
• Eastman Chemical Company
• Laxmi Organic Industries Ltd.
• Mitsubishi Chemical Co., Ltd.
• Ningbo Wanglong Technology Co.
• Zhangjiagang Hope Chemicals Co., Ltd.
• Nantong Acetic Acid Chemical Co., Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In March 2025, Daicel declared its dedication to sustainable product development with the introduction of "BELLOCEA® BS7," an environmentally friendly cosmetic texture enhancer that combines high surface smoothness with biodegradability.

• In June 2024, Microalgae protein company Brevel, Ltd. has launched its first commercial plant, spanning 27,000 sq. ft., producing hundreds of tons of clean, non-GMO protein to support the growing alternative protein market.

• In April 2024, Edoniaa, a French plant-based protein startup, announced securing USD 2.18 million in funding to expand its microalgae-based food product range, supporting innovation and growth in the alternative protein market.

• In March 2024, Corbion launched an investment in its algae fermentation facility in Orindiuva, Brazil, aiming to optimize processes and enhance production of high-quality microalgae products to meet growing global demand.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the microalgae market based on the below-mentioned segments:  

Global Microalgae Market, By Species

• Spirulina
• Chlorella
• Nannochloropsis
• Haematococcus
• Isochrysis
• Chlamydomonas
• Others

Global Microalgae Market, By Application

• Food and Beverages
• Health and Medical
• Animal Feed
• Pet Food
• Cosmetics and Personal Care
• Fertilizers

Global Microalgae Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa