Algae Skincare Products Market Size, Share & Trends Analysis Report By Product (Cleansers & Toners, Moisturizers & Creams), By Source (Macroalgae, Microalgae), By Type, By Region, And Segment Forecasts, 2024 - 2030

Algae Skincare Products Market Size, Share & Trends Analysis Report By Product (Cleansers & Toners, Moisturizers & Creams), By Source (Macroalgae, Microalgae), By Type, By Region, And Segment Forecasts, 2024 - 2030

Algae Skincare Products Market Growth & Trends

The global algae skincare products market size is anticipated to reach USD 316.5 million by 2030, expanding at a CAGR of 7.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The skincare industry is witnessing a rise in the use of algae-based ingredients due to their nutrients, sustainability, and diverse applications. Algae contains bioactive compounds with anti-inflammatory, antioxidative, and cell-protective properties, beneficial for skin health and UV protection. Their richness in vitamins, minerals, omega-3 fatty acids, and amino acids makes them valuable for skincare products, suitable for various skin types.

Sustainable cultivation methods like photobioreactors add to their environmental appeal, driving its demand among eco-conscious consumers. The growing demand for clean and vegan products is one of the key growth drivers of the market. Companies in the market are expanding their product portfolio with algae-based products to cater to the demand for clean beauty. Companies are leveraging the beneficial properties of algae in sunscreens. In June 2023, Mara Beauty launched Algae + Zinc Sea Kale Sunscreen Sérum. The product uses ingredients such as blue sea kale, hemp seed, moringa, and proprietary algae extract owing to focus on natural and hydrating components. The growing focus on oil-based sunscreens is projected to drive the growth of this algae infused sunscreens for skincare.

The market is characterized by product innovation. Key market participants are focused on expanding their product lines with skincare products featuring proprietary algae blends and formulations. Algenist offers a skincare range based on unique microalgae. This brand was developed by Solazyme, Inc., and it utilized alguronic acid, derived from microalgae in anti-aging skincare formulas owing to its regenerative and protective properties, ideal for anti-aging skin care formulas. The growing demand for vegan-friendly formulations is projected to drive the demand for algae skincare products.

Algae Skincare Products Market Report Highlights

• Based on products, face serum & oil dominated the market with more than 31.0% share in 2023 owing to the growing inclusion of algae in face serums due to its hydrating and antioxidant benefits for promoting skin health
• Based on source, the microalgae segment is expected to grow at the fastest CAGR over the forecast period
• Based on type, the brown algae segment held the largest market share in 2023. Algae skincare products with brown algae are largely popular owing to their properties to improve the skin collagen quality
• North America dominated the market owing to factors such as increasing demand for natural and sustainable skincare solutions, shift towards clean beauty trend, and the growing awareness regarding the benefits of algae in skin health

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