According to Cognitive Market Research, the global Macroalgae market size will be USD 12541.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.80% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 5016.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3762.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2884.55 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 627.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 250.83 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
The Spirulina is the fastest growing segment of the Macroalgae industry
