TAGS: Skin Care
According to a new report by Future Market Insights, the demand for microalgae in the personal care and cosmetics sector is expected to cross USD 76.5 Mn by 2031. Microalgae is extensively used for its antioxidant properties that promote skin health by increasing moisture retention, and elasticity, surpassing other carotenoids and commonly used antioxidants.
Reduces Depth of Wrinkles
A series of human studies conducted by numerous leading companies in this field suggested that microalgae could visibly and significantly reduce the depth of wrinkles and the appearance of skin texture, by minimizing age spots, while
improving moisture content.
Microalgae is gaining interest for its roles as a
preventative and reparative anti-aging agent. Microalgae helps to protect eyes from oxidative stress and radiation.
Zeaxanthin is a photoprotective pigment found in plants and algae that displays stronger antioxidant activity than other plant sources. Zeaxanthin, like lutein, plays a protective role and aids in eye healing. These factors are encouraging the production and consumption of microalgae eye products.
Demand for Microalgae-based Products
The U.S. is estimated to account for 89.9 percent of the North America market in 2021, supported by a strong clean label movement in the American personal care industry. China is estimated to account for 41.9 percent of the Asia Pacific in 2021, driven by easy access to raw materials and lower labor costs.
Germany accounted for over 17 percent of the Europe market in 2021, driven by concerns over the side effects of synthetic ingredients in conventional cosmetics. Fresh water microalgae will reflect an above average 3.7 percent CAGR through 2031 owing to easier availability and higher yield.
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Consumers value quality above all. As a result, companies engaged in microalgae-based products manufacturing are investing in R&D to offer high-quality products, while focusing on adopting cutting-edge technology that will enable players to maintain premium standard in the personal care and cosmetics sector,” said a lead analyst at FMI.
Source: Future Market Insights