The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Algae Supplements market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Algae Supplements
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This newly published and insightful report sheds light on Market Insights of Algae Sup
plements, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Algae Supplements Market.
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According to the report, drug stores lead, both in terms of new sales and new purchases, on account of easy availability and consumer confidence. Sales are also growing through online channels, as doorstep delivery and lower prices attract a new demographic of consumers.
The study also analyzes supply-demand for algae supplement variants, and opines that spirulina-based algae supplements will remain the top-selling category, with global sales estimated to exceed 2,200 tons in 2019. Consumer perception on spirulina’s versatility and nutritional benefits is likely to influence manufacturers to launch a diverse range of products in the market.
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Sensing varied consumer preferences regarding consumption of algae supplements, companies have introduced various forms of these supplements including tablets, capsules, liquids, powders & granules, and softgels. Softgels are expected to witness a relatively larger adoption, with global sales estimated to surpass 1,100 tons in 2019. The study finds that consumers are increasingly opting for softgels as they are relatively easier to swallow, and are devoid of any pungent smells characteristic of the ingredients used in manufacturing algae supplements.
According to the report, manufacturers’ efforts to position themselves as a one-stop destination for multiple product varieties will remain a key strategy to gain a competitive edge in the algae supplements market. In addition, manufacturers are keeping a close track of regulatory shifts to make respective product reformations, in a bid to avoid supply disruption.
The Fact.MR research study offers an incisive forecast on the algae supplements market for the period, 2019 to 2027. The algae supplements market is likely to record a volume CAGR of nearly 7.0% through 2027.
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