Why Is the Haematococcus Pluvialis Market Expected to Reach $189.8 Million by 2030?

Meticulous Research®, a top-tier global market research organization, has published a report entitled “Haematococcus Pluvialis Market by Product, Application, and Geography”. This report offers in-depth insights into the market's current state and future potential.

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Projected Market Growth
The haematococcus pluvialis market is anticipated to reach $189.8 million by 2030, growing at a CAGR of 13.3% from 2023 to 2030. In terms of volume, it is projected to achieve 1,369.9 tons by 2030, representing a CAGR of 14.8%. This market growth is primarily driven by the escalating demand for natural astaxanthin in nutraceuticals, increasing interest in natural food colorants, and growing awareness regarding clean-label products. However, high production costs could serve as a limiting factor.

Factors Driving Market Growth
The demand for natural astaxanthin in aquaculture and poultry is expected to create ample growth opportunities. Additionally, there is a notable trend toward self-grooming products in the market. Nevertheless, the complex production process associated with haematococcus pluvialis presents a significant challenge for industry stakeholders.