$1.1 Billion Algae Products (Hydrocolloids, Lipids, Carotenoids) Markets - Global Forecast to 2031: Increasing Consumer Preference for Cruelty-Free and Vegan Cosmetics Driving Demand - ResearchAndMarkets.com
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 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 risk of algae contamination is a major challenge impacting the growth of the algae products market for cosmetics.
- In 2024, the skin care products segment is expected to account for the largest share of the global algae products market for cosmetics.