“Global Algae Skincare Products Market to reach a market value of USD 312.5 Million by 2030 growing at a CAGR of 7.1%”
The Global Algae Skincare Products Market size is expected to reach $312.5 million by 2030, rising at a market growth of 7.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 6,755.2 thousand units, experiencing a growth of 6.9% (2019-2022).
Algae are rich in essential nutrients such as vitamins, minerals, amino acids, and antioxidants. Moisturizers & creams incorporating algae-derived ingredients provide the skin with a nourishing blend of bioactive compounds, supporting overall skin health and vitality. Consequently, the moisturizers & creams segment would generate approximately 19.29% share of the market by 2030. Algae extracts, especially those with anti-inflammatory properties, can soothe and calm the skin. This particularly benefits individuals with sensitive or irritated skin, as algae-infused moisturizers relieve and reduce redness.
The proliferation of e-commerce platforms has made skincare products, including those containing algae, easily accessible to a global consumer base. The convenience of online shopping facilitates the reach of algae skincare products to a broader audience. Online shopping offers unparalleled convenience to consumers. The ability to browse, compare, and purchase algae skincare products from the comfort of their homes enhances the overall consumer experience. Therefore, the market is expanding significantly due to the e-commerce growth and accessibility. Moreover, endorsements by celebrities and influencers play a significant role in shaping consumer preferences. As influential figures highlight the benefits of algae skincare, it can lead to increased awareness and adoption among their followers. Celebrity endorsements lend credibility to algae skincare products. The association with well-known personalities or influencers can build trust among consumers, who may be more inclined to try products recommended by individuals they admire and trust. Thus, because of the celebrity endorsements and influencer marketing, the market is anticipated to increase significantly.
Regulatory approval processes for skincare products can be time-consuming and complex. The time it takes to obtain approvals or comply with regulatory standards may delay product launches, hindering the speed at which algae skincare products can enter the market. Regulations often impose strict labelling requirements, including accurately listing ingredients, potential allergens, and specific claims. Ensuring compliance with these labelling standards can be challenging, and non-compliance may lead to penalties or market restrictions. The fear of regulatory repercussions may lead companies to adopt a cautious approach, potentially impeding market growth.
On the basis of algae type, the market is divided into red algae, brown algae, green algae, and others. The red algae segment garnered a significant revenue share in the market in 2022. Red algae are known for their nutrient-rich composition, including vitamins, minerals, amino acids, and antioxidants. The abundance of essential nutrients contributes to the skin-nourishing properties of red algae skincare products, making them appealing to consumers seeking comprehensive skincare solutions. Red algae extracts are often incorporated into skincare formulations for their ability to provide intense hydration and moisturization. The polysaccharides in red algae have water-binding properties, helping retain moisture in the skin and improve overall hydration levels.
By type, the market is categorized into cleansers & toners, moisturizers & creams, face serum & oil, face masks, eye & lip care treatments, and others. In 2022, the face serum & oil segment held the highest revenue share in the market. Algae-based serums and oils often have lightweight textures that absorb quickly into the skin. This makes them suitable for individuals who prefer non-greasy formulations and is particularly advantageous for daytime use. Algae-infused serums and oils provide an extra boost of hydration to the skin. This is particularly beneficial for individuals with dry skin, as algae helps to lock in moisture and maintain skin suppleness. Certain algae species, such as spirulina and chlorella, contain pigments and antioxidants contributing to skin brightening. Algae serums and oils may help reduce hyperpigmentation and promote an even skin tone.
Based on source, the market is classified into macroalgae and microalgae. In 2022, the macroalgae segment witnessed the largest revenue share in the market. Macroalgae contain antioxidants that help protect the skin from free radicals and oxidative stress. Including macroalgae in skincare products contributes to an added layer of defense against environmental damage, supporting skin health and resilience. Macroalgae, through their peptide content, contribute to collagen synthesis and skin firmness. Skincare products incorporating macroalgae can help address signs of aging, including fine lines and loss of elasticity.
Free Valuable Insights: Global Algae Skincare Products Market size to reach USD 312.5 Million by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region acquired a significant revenue share in the market. Traditional beauty practices in many Asian cultures emphasize the use of natural ingredients. Increasing awareness among consumers in the Asia Pacific region about the benefits of algae in skincare contributes to the growth of algae-based products. The influence of Korean (K-Beauty) and Japanese (J-Beauty) beauty trends have played a significant role in shaping skincare preferences in the Asia Pacific region. The rapid growth of e-commerce in the Asia Pacific region provides consumers convenient access to a wide range of skincare products, including algae-based formulations.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 182.6 Million |
| Market size forecast in 2030 | USD 312.5 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 7.1% from 2023 to 2030 |
| Number of Pages | 291 |
| Number of Table | 568 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Source, Algae Type, Region |
| Country scope |
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| Companies Included | Algeternal, Algenist LLC (Tengram Capital Parterns LLC), Sarkli-Repechage, Ltd , Mario Badescu Skin Care, Inc., MisshaUS, Bioelements MARA Beauty, LLC, Seaflora Skincare Inc, OSEA International, LLC Tatcha, LLC (Unilever Plc) |
By Source (Volume, Thousand Units, USD Million, 2019-2030)
By Algae Type (Volume, Thousand Units, USD Million, 2019-2030)
By Type (Volume, Thousand Units, USD Million, 2019-2030)
By Geography (Volume, Thousand Units, USD Million, 2019-2030)
The Market size is projected to reach USD $312.5 million by 2030.
Celebrity endorsements and influencer marketing are driving the Market in coming years, however, Significant regulatory compliance issues restraints the growth of the Market.
Algeternal, Algenist LLC (Tengram Capital Parterns LLC), Sarkli-Repechage, Ltd , Mario Badescu Skin Care, Inc., MisshaUS, Bioelements MARA Beauty, LLC, Seaflora Skincare Inc, OSEA International, LLC Tatcha, LLC (Unilever Plc)
In the year 2022, the market attained a volume of 6,755.2 thousand units, experiencing a growth of 6.9% (2019-2022).
The Brown Algae Segment is leading the Market by Algae Type in 2022, thereby achieving a market value of $155.9 Million by 2030.
The North America segment dominated the Market by Region in 2022, thereby achieving a market value of $106.2 Million by 2030, growing at a CAGR of 6.3 % during the forecast period.
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