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

  • Report ID:MRFB - 104360
  • Pages: 150
  • Nov 2019
  • Formats*: PDF
  • Category: Food & Beverages

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
    3.1. Introduction
    3.2. Segment Analysis
    3.3. Regional Analysis
    3.4. Key Players

4. Market Insights
    4.1. Introduction
    4.2. Drivers
    4.3. Restraints
    4.4. Challenges
    4.5. Opportunities

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

6. Global Algal Pigments Market, by Application
    6.1. Introduction
    6.2. Food and Beverages
    6.3. Nutraceuticals
    6.4. Pharmaceuticals
    6.5. Aquaculture
    6.6. Cosmetics
    6.7.  Others 

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

8. Competitive Landscape
    8.1. Introduction
    8.2. New Product Launches
    8.3. Mergers and Acquisitions
    8.4. Agreements, Partnerships, and Collaborations
    8.5. Expansions

9. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
    9.1. Earthrise Nutritionals, LLC
    9.2. Cyanotech Corporation
    9.3. Bluebiotech Int. GmbH
    9.4. Zhejiang Binmei Biotechnology Co., Ltd.
    9.5. Bluetec Naturals Co., Ltd
    9.6. Algatechnologies Ltd.
    9.7. E.I.D. - Parry (India) Limited
    9.8. Tianjin Norland Biotech Co., Ltd
    9.9. Algaecan Biotech Ltd.
    9.10. Heliae Development, LLC
    9.11. Astareal AB 
    9.12. Algae Health Sciences
    9.13. Sochim International S.p.A.
    9.14. Greenaltech SL

10. Appendix
      10.1. Questionnaire
      10.2. Available Customization

List of Tables

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

List of Figures

Figure 1 Scope of the Global 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 Global Algal Pigments Market through 2025
Figure 8 Food and Beverage Industry to Dominate the Global Market through 2025
Figure 9 Algal Pigments Market Share, by Geography, 2019 (%)
Figure 10 Algal Pigments Market Size, by Type, 2019-2025 ($Million)
Figure 11 Algal Pigments Market Size, by Application, 2019-2025 ($Million)
Figure 12 Algal Pigments Market Size, by Region, 2019-2025 ($Million)
Figure 13 Key Growth Strategies Adopted by Leading Players, 2016-2019
Figure 14 Earthrise Nutritionals, LLC: Financial Overview, 2016-2018
Figure 15 Cyanotech Corporation: Financial Overview, 2016-2018
Figure 16 E.I.D. - Parry (India) Limited: Financial Overview, 2016-2018


Global Algal Pigments Market is expected to cross $250 million by 2025, at a CAGR of 5-7% during the forecast period of 2019 to 2025. The global algal pigments market is majorly driven by factors such as growing awareness about the health benefits of algal pigments, increasing awareness for clean-label products, rising demand for natural colorants, growing need to enhance product appeal, and stringent regulations on the use of synthetic colors in food industry across the globe. However, factors such as high cost of natural colors, complex production 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, 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 foodgrade pigments from microalgae is vanishing because of the biotechnological advancement and low capital investment, thereby supporting the growth of the global algal pigments market.

Image: 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 an 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

North America is estimated to command the largest share of the overall algal pigments market in 2019, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The large share of this region is mainly attributed to well-established food and beverages industry; strict regulations against the use of synthetic colors; growth of the subsidiary industries like cosmetics and aquaculture; health and wellness trends; and the presence of key algae manufacturers with huge production capacities, especially in the U.S. However, Asia-Pacific region is expected to witness the 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 BinmeiBiotechnology 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), Heliae Development, LLC(U.S.), AstaReal AB(Sweden), Algae Health Sciences (U.S.), Sochim International S.p.A. (Italy), and Greenaltech SL(Spain).

Scope of the report

Algal Pigments Market, by Type

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

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
    • 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 typeand 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 opportunitiesin the algal pigmentsmarket?
  • 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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