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Demand for microalgae ingredients tipped for strong growth

Demand for microalgae ingredients tipped for strong growth

Global sales revenue for microalgae in personal care and cosmetics will rise 150% in the next decade, according to a new report by Future Market Insights (FMI).

The Personal Care and Cosmetics Microalgae Market report forecasts revenue will grow to $76.5m by 2031, a compound annual growth rate (CAGR) of 4.2%.

Increasing use of spirulina in the treatment of skin issues such as tanning, ageing and pigment abnormalities, along with rising use of microalgae in the production of skin whitening, anti-aging, and pigmentation reduction cosmetic products will drive market growth.

Meanwhile, rising adoption of microalgae in creating hair care products due to its anti-bacterial and hair growth boosting properties will see usage in that segment grow by a CAGR of 3.6% to 2031, said FMI.

In addition, consumers are switching towards vegan cosmetic products owing to growing awareness regarding animal welfare.

Microalgae extracts have emerged as a suitable vegan substitute for producing cosmetic products, which will create scope for growing applications in cosmetics sector, said FMI.

Market players are also looking to capitalise on anti-inflammatory and anti-microbial properties of microalgae for treating oral disorders.

Algal extracts are now used in creating toothpastes, functional chewing gums, and mouthwash as gelling and water binding properties of hydrocolloids are becoming popular in dentistry.

The US is predicted to account for around 89% of the North America market by 2031, driven by rising popularity of vegan and organic products and increasing consumer willingness to buy premium products.

In the UK, growing consumer inclination towards organic and natural personal care products in the UK along with the focus on maintaining transparency in raw material and production methods among manufacturers will boost demand there.

Meanwhile, rising demand for high quality and safe cosmetic products will drive the sales of microalgae personal care and cosmetics in Germany at a CAGR of 3.4% in 2021, found FMI.

Euglena, Koninkliijke DSM, Sun chlorella, Fuji Chemical Industries and Novagreen are the top five market players operating in the market.

As per FMI’s market analysis, they account for more than 35% share in the global microalgae personal care and cosmetics market.

“Owing to the increasing demand for premium cosmetic items, microalgae-based products manufacturers are focusing on producing high quality products using state of the art production technology,” said an FMI spokeswoman.

“Increasing consumer spending on premium products will boost the market growth over the assessment period,” she added.

FEATURES

Revitalising hair beauty with aminosilicones

Since the pandemic, consumers have adopted new trends such as do-it-yourself beauty care and demanding high-performance hair care products that can achieve similar result as in a salon. BRB Silicones looks at how its aminosilicones are specially developed in response to meet this demand to provide multi benefits in conditioning, colour protection, hair shininess, hair manageability and hair smoothness

Revitalising hair beauty with aminosilicones

Since the pandemic, consumers have adopted new trends such as do-it-yourself beauty care and demanding high-performance hair care products that can achieve similar result as in a salon. BRB Silicones looks at how its aminosilicones are specially developed in response to meet this demand to provide multi benefits in conditioning, colour protection, hair shininess, hair manageability and hair smoothness

Nano olive oil as potential silicone substitute

Vietnamese outfit Wakamono is developing Nano Olive Oil, which it says is extracted from natural ingredients, safe and friendly to environment and has the potential to completely replace or reduce the use of silicone and polyquaternium in shampoo while maintaining product effectiveness

Mild cleansers with 'sulfate-free' surfactants

Innospec Performance Chemicals has developed a wide range of chemistries based on both (alkyl) acyl amino acids and acyl (methyl) isethionate chemistries to improve skin mildness in formulations

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Upcoming Events

8th Anti-Ageing Skin Care Conference

Royal College of Physicians, London
29 - 30 November 2022

76th Annual Scientific Meeting & Showcase

JW Marriott LA Live, Los Angeles, California
12 - 14 December 2022

PCHi China 2023

The China Import and Export Fair Complex, Guangzhou
15-17 February 2023

in-cosmetics Global 2023 - Barcelona

Fira Barcelona Gran Via
28 - 30 March 2023

Access the latest issue of Personal Care Magazine on your mobile device together with an archive of back issues.

Download the FREE Personal Care Magazine app from your device's App store

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