With the New Applications, Algae Market Is Set to Grow Exponentially in the Future by 2024
Centuries ago, people at waterfronts discovered various applications of Algae. With the passage of time, humans started using algae as agar, alginates, energy source, fertilizer, nutrition, pollution control, bioremediation, pigments, and stabilizing substances. In 2015, these applications formed a global algae market worth US$608.0 mn. Also, Transparency Market Research states that the global algae market is expected to rise at a CAGR of 7.39% for the period of 2016-2024 to reach US$1.1 bn by 2024.
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