Algal Pigments Market - Global Opportunity Analysis and Industry Forecast (2019-2025)

Algal Pigments Market - Global Opportunity Analysis and Industry Forecast (2019-2025)

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Algal Pigments Market by Type (Beta Carotene, Astaxanthin, Fucoxanthin, Phycocyanin, Phycoerythrin), Application (Food and Beverages, Nutraceuticals, Aquaculture, Cosmetics, Pharmaceuticals), and Geography - Global Forecast to 2025

  • Report ID:MRFB - 104360
  • Pages: 150
  • Jan 2020
  • Formats*: PDF
  • Category: Food & Beverages
  • Delivery: 2 to 4 Hours

1. Introduction
    1.1. Market Ecosystem
    1.2. Currency and Limitations
          1.2.1. Currency
          1.2.2. Limitations
    1.3. Key Stakeholders

2. Research Methodology
    2.1. Research Process
          2.1.1. Secondary Research
          2.1.2. Primary Research
          2.1.3. Market Size Estimation

3. Executive Summary

4. Market Insights
    4.1. Introduction
    4.2. Drivers
           4.2.1. Increased Adoption of Algal Pigments for Therapeutic & Nutritional Purpose
           4.2.2. Reluctance Towards Usage of Synthetic Colors
                    4.2.2.1. Stringent Regulation on Synthetic Color Additives
                    4.2.2.2. Health Hazards Occurred Due to Synthetic Colors
           4.2.3. Increasing Awareness for Clean-Label Products
           4.2.4. Rising Demand for Natural Colorants
           4.2.5. Growing Need to Enhance Product Appeal
    4.3. Restraints
           4.3.1. High Cost of Natural Colors
           4.3.2 Complex Production Process for Algae
           4.3.3 Risk of Algae Contamination
    4.4. Opportunities
           4.4.1. Growing Demand for Phycocyanin

5. Global Algal Pigments Market, By Type
    5.1. Introduction
    5.2. Beta Carotene
    5.3. Astaxanthin
    5.4. Fucoxanthin
    5.5. Phycocyanin
    5.6. Phycoerythrin
    5.7. Lutein
    5.8. Chlorophyll

6. Global Algal Pigments Market, By Application
    6.1. Introduction
    6.2. Food & Beverages
    6.3. Nutraceuticals
    6.4. Pharmaceuticals
    6.5. Aquaculture
    6.6. Cosmetics
    6.7. Other Applications

7. Algal Pigments Market, By Geography
    7.1. Introduction
    7.2. North America
          7.2.1. U.S.
          7.2.2. Canada
   7.3. Europe
          7.3.1. Germany
          7.3.2. France
          7.3.3. U.K.
          7.3.4. Italy
          7.3.5. Spain
          7.3.6. RoE
    7.4. Asia-Pacific
          7.4.1. China
          7.4.2. India
          7.4.3. Japan
          7.4.4. RoAPAC
    7.5. RoW
           7.5.1. Latin America
           7.5.2. Middle East and Africa

8. Company Profiles
    8.1. Earthrise Nutritionals, LLC (Part of DIC Corporation)
           8.1.1. Business Overview
           8.1.2. Financial Overview
           8.1.3. Product Portfolio
           8.1.4. Recent Developments
    8.2. Cyanotech Corporation
           8.2.1. Business Overview
           8.2.2. Financial Overview
           8.2.3. Product Portfolio
    8.3. Bluebiotech Int. GmbH
           8.3.1. Business Overview
           8.3.2. Financial Overview
           8.3.3. Product Portfolio
    8.4. Zhejiang Binmei Biotechnology Co., Ltd.
           8.4.1. Business Overview
           8.4.2. Product Portfolio
    8.5. Bluetec Naturals Co., Ltd
           8.5.1. Business Overview
           8.5.2. Product Portfolio
    8.6. Algatechnologies Ltd.
           8.6.1. Business Overview
           8.6.2. Financial Overview
           8.6.3. Product Portfolio
           8.6.4. Recent Developments
    8.7. E.I.D. - Parry (India) Limited
           8.7.1. Business Overview
           8.7.2. Financial Overview
           8.7.3. Product Portfolio
    8.8. Tianjin Norland Biotech Co., Ltd
           8.8.1. Business Overview
           8.8.2. Financial Overview
           8.8.3. Product Portfolio
    8.9. AlgaeCan Biotech Ltd.
           8.9.1. Business Overview
           8.9.2. Financial Overview
           8.9.3. Product Portfolio
    8.10. Astareal AB
            8.10.1. Business Overview
            8.10.2. Financial Overview
            8.10.3. Products Portfolio
    8.11. Algae Health Sciences
             8.11.1. Business Overview
             8.11.2. Financial Overview
             8.11.3. Product Portfolio
    8.12. Sochim International S.P.A.
             8.12.1. Business Overview
             8.12.2. Financial Overview
             8.12.3. Product Portfolio
    8.13. Shaivaa Algaetech
             8.13.1. Business Overview
             8.13.2. Financial Overview
             8.13.3. Product Portfolio
    8.14. BASF Corporation
            8.14.1. Business Overview
            8.14.2. Financial Overview
            8.14.3. Product Portfolio
    8.15. D.D. Williamson & Co., Inc.
            8.15.1. Business Overview
            8.15.2. Financial Overview
            8.15.3. Product Portfolio
   8.16. Chlostanin Nikken Nature Co. Limited
            8.16.1. Business Overview
            8.16.2. Financial Overview
            8.16.3. Product Portfolio

9. Appendix
    9.1. Questionnaire
    9.2. Available Customization

List of Tables

Table 1 Global Algal Pigments Market: Impact Analysis of Market Drivers (2019–2025)
Table 2 Total Global Algal Pigments Market: Impact Analysis of Market Restraints (2019–2025)
Table 3 Global Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 4 Algal Beta Carotene Market Size, By Country/Region, 2017-2025 ($Million)
Table 5 Leading Companies and their H. Pluvialis-Derived Astaxanthin
Table 6 Algal Astaxanthin Market Size, By Country/Region, 2017-2025 ($Million)
Table 7 Algal Fucoxanthin Market Size, By Country/Region, 2017-2025 ($Million)
Table 8 Algal Phycocyanin Market Size, By Country/Region, 2017-2025 ($Million)
Table 9 Algal Phycoerythrin Market Size, By Country/Region, 2017-2025 ($Million)
Table 10 Global Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 11 Algal Pigments Market Size for Food & Beverages, By Country/Region, 2017-2025 ($Million)
Table 12 Algal Pigments Market Size for Nutraceuticals, By Country/Region, 2017-2025 ($Million)
Table 13 Algal Pigments Market Size for Pharmaceuticals, By Country/Region, 2017-2025 ($Million)
Table 14 Algal Pigments Market Size for Aquaculture, By Country/Region, 2017-2025 ($Million)
Table 15 Algal Pigments Market Size for Cosmetics, By Country/Region, 2017-2025 ($Million)
Table 16 Algal Pigments Market Size for Other Applications, By Country/Region, 2017-2025 ($Million)
Table 17 Global Algal Pigments Market Size, By Region, 2017-2025 ($Million)
Table 18 North America: Algal Pigments Market Size, By Country, 2017-2025 ($Million)
Table 19 North America: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 20 North America: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 21 U.S.: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 22 U.S.: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 23 Canada: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 24 Canada: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 25 Europe: Algal Pigments Market Size, By Country, 2017-2025 ($Million)
Table 26 Europe: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 27 Europe: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 28 Germany: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 29 Germany: Algal Pigments Market Size, By Application, 2017-2025 ($ Million)
Table 30 France: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 31 France: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 32 U.K.: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 33 U.K.: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 34 Italy: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 35 Italy: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 36 Spain: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 37 Spain: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 38 RoE: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 39 RoE: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 40 Asia Pacific: Algal Pigments Market Size, By Country, 2017-2025 ($Million)
Table 41 Asia Pacific: Algal Pigments Market Size, By Type, 2017-2025 ($ Million)
Table 42 Asia Pacific: Algal Pigments Market Size, By Application, 2017-2025 ($ Million)
Table 43 China: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 44 China: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 45 India: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 46 India: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 47 Japan: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 48 Japan: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 49 RoAPAC: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 50 RoAPAC: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 51 RoW: Algal Pigments Market Size, By Country, 2017-2025 ($Million)
Table 52 RoW: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 53 RoW: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 54 Latin America: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 55 Latin America: Algal Pigments Market Size, By Application, 2017-2025 ($Million)
Table 56 Middle East and Africa: Algal Pigments Market Size, By Type, 2017-2025 ($Million)
Table 57 Middle East and Africa: Algal Pigments Market Size, By Application, 2017-2025 ($Million)

List of Figures

Figure 1 Scope of the Algal Pigments Market
Figure 2 Key Stakeholders in the Global Algal Pigments Market
Figure 3 Research Process
Figure 4 Key Executives Interviewed
Figure 5 Primary Research Techniques
Figure 6 Market Size Estimation
Figure 7 Beta Carotene to Dominate the Algal Pigments Market
Figure 8 Food & Beverages Application Segment is Expected to Dominate the Global Algal Pigments Market By 2025
Figure 9 Global Algal Pigments Market Share (2019) And CAGR (2019-2025), By Geography
Figure 10 Market Dynamics
Figure 11 Global Algal Pigments Market, By Type, 2019-2025 ($Million)
Figure 12 Global Algal Pigments Market Size, By Application, 2019-2025 ($Million)
Figure 13 Key Adopters of Algal Pigments
Figure 14 Global Algal Pigments Market Size, By Region, 2019-2025 ($Million)
Figure 15 Cosmetics Market Size in France, 2014-2017 ($Million)
Figure 16 Top 10 Categories in % of Total Food & Beverage Tracked with Natural Colors in China (2012-2017)
Figure 17 RoW: Algal Pigments Market Size, By Country, 2019-2025 ($Million)
Figure 18 DIC Corporation: Financial Overview (2016-2018)
Figure 19 Cyanotech Corporation: Financial Overview (2016-2018)
Figure 20 E.I.D. - Parry (India) Limited: Financial Overview (2016-2018)
Figure 21 BASF Corporation: Financial Overview (2016-2018)

COVID-19

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The global algal pigments market is expected to grow at a CAGR of 4.0% from 2019 to 2025 to reach $452.4 million by 2025. The global algal pigments market is majorly driven by factors such as increased adoption of algal pigments to be used in the manufacturing of therapeutic & nutritional products; growing reluctance towards usage of synthetic colors, due to stringent regulations on synthetic colors and hazardous health issues occurred due to usage of synthetic colors; inclination towards usage of clean-label products, growing demand for natural colorants, and need to enhance appearance of the food, cosmetic, and pharmaceutical products. Increasing the extraction of phycocyanin is providing significant opportunities for the algal pigments market. However, the high cost of natural colors, complex production procedure of algae, and risk of algae contamination are expected to hinder the growth of the global algal pigments market to some extent.

Presently, synthetic colorants are used in food, cosmetic, nutraceutical, and pharmaceutical industries. However, due to problems associated with the harmful effects of synthetic colorants, the exploitation of microalgal pigments as a source of natural colors becomes an attractive option. The success of any pigment production industry depends upon its acceptability in the market, regulatory approval, and the size of the capital investment required for bringing the product to market. The doubt on the successful commercialization of food-grade pigments from microalgae is vanishing because of the biotechnological advancement and low capital investment, thereby supporting the growth of the global algal pigments market.

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Increasing utilization of algae pigments due to strict regulations for synthetic colors to drive the growth of the algal pigments market

Synthetic colors and flavors are prepared by chemical reactions. The permitted synthetic colors are safe for consumption, but some vibrant synthetic colors are harmful to human health. Different countries have their own regulatory and legislation system for food colors and flavors. The U.S. prevents the permission for colors and flavors if they found as a carcinogenic. In Australia and New Zealand, all colors and flavors go through safety assessment before they get approval for its use. Similarly, the Food Safety and Standards Authority of India (FSSAI), an autonomous body established under the Ministry of Health & Family Welfare, Government of India, also restrict the use of coloring matter in food until it is pure and free from any harmful impurities. Moreover, the European Food Safety Authority (EFSA), the regulatory agency of EU countries for food safety has banned the use of synthetic colors in the products consumed in EU countries. This is forcing food manufacturers to seek natural food colors for various food and beverage applications, thereby leading to the emergence of microalgal pigment as a source of natural colors.

Key findings in the global algal pigments market study:

Phycocyanin is expected to witness the rapid growth through 2025

Based on type, phycocyanin is expected to witness the fastest growth in the overall algal pigments market. The rapid growth of this market is attributed to factors such as growing demand from food and beverage industry, where it is used as a natural food colorant; rising demand for natural food colorants; growing investment from leading players; and expanding application areas of phycocyanin.

Food and beverages application to dominate the global algal pigments market through 2025

Based on application, food & beverages application is estimated to hold the largest share of the overall algal pigments market in 2019. The large share of this segment is mainly attributed to factors such as increasing consumer demand for plant-derived alternatives, stringent regulations against the use of synthetic colors in food products, and properties of algal pigments such as high nutritive value, eco-friendly nature, non-toxicity, and non-carcinogenicity.

Asia-Pacific: The fastest-growing market

Europe is estimated to command the largest share of the overall algal pigments market in 2019, followed by North America, Asia-Pacific, Latin America, and the Middle East and Africa. The large share of this region is mainly attributed to factors such as huge food and beverages industry; strict regulations against the use of synthetic colors; growing health and wellness trends; large demand for natural colorants from various end-use industries; the presence of number of algal pigment manufacturers; and growing government focus on algae industry. However, the Asia-Pacific region is expected to witness rapid growth during the forecast period. The rapid growth of this region is mainly attributed to the presence of many local and regional players in this region, growing consumption of natural food ingredients, various government initiatives to promote the use of algae, and growing demand for algal pigments from food and beverages industry.

Key Players

The report includes a competitive landscape based on extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016–2019). The key players profiled in the global algal pigments market report are Earthrise Nutritionals, LLC (U.S.), Cyanotech Corporation (U.S.), Zhejiang Binmei Biotechnology Co., Ltd. (China), Bluetec Naturals Co., Ltd (China), BlueBioTech Int. GmbH (Germany), Algatechologies Ltd. (Israel), E.I.D. - Parry (India) Limited (India), Tianjin Norland Biotech Co., Ltd (China), AlgaeCan Biotech Ltd. (Canada), AstaReal AB (Sweden), Algae Health Sciences (U.S.), Sochim International S.p.A. (Italy), D.D. Williamson & Co., Inc. (U.S.), Chlostanin Nikken Nature Co. Ltd. (China), and BASF Corporation (Germany).

Scope of the report

Algal Pigments Market, by Type

  • Beta Carotene
  • Astaxanthin
  • Fucoxanthin
  • Phycocyanin
  • Phycoerythrin
  • Lutein
  • Chlorophyll

Algal Pigments Market, by Application

  • Food & Beverages
  • Nutraceuticals
  • Pharmaceuticals
  • Aquaculture
  • Cosmetics
  • Others

Algal Pigments Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Spain
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • China
    • India
    • Japan
    • Rest of Asia-Pacific (RoAPAC)
  • Rest of World
    • Latin America
    • The Middle East and Africa

Key questions answered in the report:

Food & beverages application to account for the largest share of the overall algal pigments market

  • How does the adoption of algal pigments in food & beverages application differ from the adoption in nutraceutical application?
  • Which are the high growth market segments in terms of type and regions/countries?

North America algal pigments market favors both larger and local manufacturers that compete in multiple segments

  • What are the top competitors in this market and what strategies do they employ to gain shares?
  • What is driving the growth and which market segments have the highest potential for revenue expansion over the forecast period?
  • What strategies should new companies look to enter this market use to compete effectively?
  • What are the major drivers, restraints, and opportunities in the algal pigments market?
  • Who are the major players in various countries and what share of the market do they hold?
  • What are the geographical trends and high growth regions/ countries?

Recent new product launches; partnerships, collaborations, & agreements; acquisitions and mergers; and expansions have taken place in the algal pigments market

  • What companies have recently merged/acquired in various countries across the globe and how will these unions affect the competitive landscape of the algal pigments market?
  • Which companies have created partnerships and how will these partnerships promote a competitive advantage?
  • Who are the major players in the global algal pigments market and what share of the market do they hold?
  • Who are the local emerging players in the algal pigments market and how do they compete with the global players?
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Tags: Algal Pigments Market Food and Agriculture Technologies Nutraceuticals Aquaculture Cosmetics Algal Astaxanthin Market Algal Fucoxanthin Market
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