Meticulous Research® has released an insightful report titled Haematococcus Pluvialis Market by Product, Application, and Geography – Global Forecast to 2030, which highlights that the haematococcus pluvialis market is expected to reach $189.8 million by 2030, growing at a 13.3% CAGR from 2023. On a volume basis, the market is projected to reach 1,369.9 tons by 2030 with a CAGR of 14.8% from 2023. The growth is largely driven by rising demand for natural astaxanthin in nutraceuticals, along with increased consumer preference for clean-label products and natural food colorants.
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Key Drivers and Challenges
The surge in demand for natural astaxanthin in nutraceuticals and food coloring fuels market growth. Clean-label trends are further encouraging natural ingredient use. However, high production costs and the complexity of producing haematococcus pluvialis pose significant challenges for market players.