Microalgae Market to Exceed Valuation of USD 9.46 billion by 2032
Market Overview: The global market for microalgae was valued at USD 4.32 billion in 2022 and is projected to reach USD 9.46 billion by 2032, with a compound annual growth rate (CAGR) of 9.1% during the forecast period. The market is experiencing significant growth driven by the increasing demand for natural and sustainable sources of food, feed, and biofuels. Consumers are becoming more aware of the advantages of microalgae-based products, contributing to the market's expansion.