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Algal Pigments Market Size, Share, Forecast, & Trends Analysis by Type (Beta-Carotene, Astaxanthin, Phycocyanin), Form (Powder), Source (Microalgae, Macroalgae), Application (Food & Beverages, Nutraceuticals, Pharmaceuticals)—Global Forecast to 2031

Report ID:MRFB - 104360 Pages: 180 Sep-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 72 Hours

The Algal Pigments market was valued at $412.7 million in 2023. This market is expected to reach $718 million by 2031 from an estimated $442.1 million in 2024, at a CAGR of 7.2% during the forecast period from 2024 to 2031.

Algal Pigments Market Size & Forecast

This market's growth is driven by the increasing utilization of algal pigments for therapeutic and nutritional purposes, expanding awareness of clean-label products, growing demand for natural colorants, reluctance to use synthetic colors, and the rising need to enhance product appeal. The risk of algal contamination during cultivation, the complex procedures involved in producing algae, and the high cost of natural colors are anticipated to restrain the market's growth.

The growing demand for phycocyanin and the increasing use of natural astaxanthin in poultry and aquaculture feeds are expected to create market growth opportunities.

Algal Pigments Market Growth Drivers

Rising Demand for Natural Colorants

The growing preference for natural food colors over synthetic alternatives underscores a shift in consumer preferences. With heightened awareness of the health risks associated with synthetic colors and the benefits of natural options, consumers are increasingly driving the market toward healthier and more natural choices. Rising health consciousness and a preference for environmentally friendly products are significant factors fueling global demand for naturally sourced food products. As a result, food manufacturers are increasingly adopting natural food colors to enhance product appeal post-processing, aligning with consumer preferences and supporting a healthier market trend.

Natural food colors or dyes derived from algae, plants, animals, fruits, and minerals are considered safe as food additives due to their minimal harmful side effects. Their non-toxic or less toxic nature, coupled with fewer side effects, is driving their increasing therapeutic use. Governments worldwide are endorsing the use of natural food colors due to their biodegradability and lack of environmental pollution after disposal. Additionally, numerous regulations have been enacted to favor natural colors over synthetic alternatives, further boosting global demand. For example, the Food Safety and Standards Authority of India (FSSAI) has outlined permissible food coloring and flavoring agents and their standards in the Food Safety and Standards (Food Product Standards and Food Additives) Regulations, 2011, including beta-carotene, chlorophyll, caramel, riboflavin, curcumin, and saffron. Conversely, the Food Safety and Standards Act of 2006 (India) has banned artificial colors due to their potential long-term health risks.

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Governments worldwide are increasingly supporting the use of natural food colors due to their biodegradability and minimal environmental impact. For example, the European Commission has banned titanium dioxide (E171) as a food additive effective August 7, 2022, and various regulations across regions are restricting the use of synthetic food colors.

The Australian Organic Market Report highlights that, in 2023, the Australian organic industry contributed USD 851 million directly to the economy. Denmark led global organic food sales with a 13.0% market share in 2020, followed by Austria with 11.3%, and Switzerland with 10.3% (source: Danish Agriculture & Food Council). This rising demand for organic foods is driven by consumer perceptions of their health benefits and safety compared to conventional options. Organic food production excludes synthetic fertilizers, pesticides, growth hormones, antibiotics, and GMOs, leading to increased use of natural food colors to enhance product appeal.

Furthermore, the growth of the food and beverage industry positively impacts the global natural food colors market. As natural food consumption rises globally, the demand for natural food colorants is increasing, thus driving the growth of the algal pigments market.

Reluctance Toward the Use of Synthetic Colors

In recent years, the use of synthetic color additives in food, beverage, pharmaceutical, and cosmetic products has decreased due to stringent regulations and rising consumer awareness about the health hazards of synthetic colors.

Strict regulations imposed by federal organizations in various countries limit the use of synthetic dyes in food and beverage products. In the U.S., the Food and Drug Administration (FDA) is the primary authority overseeing food additives, including synthetic food colors. The FDA regulates their use due to potential health risks, establishing maximum allowable limits for different food categories. The FDA's responsibilities include listing new synthetic color additives or new uses for approved color additives deemed safe for their intended purposes in the Code of Federal Regulations (CFR), conducting certification programs for color additive batches that must be certified before sale, and monitoring synthetic color usage and product labeling. Synthetic color additives in food, drugs, and cosmetics must adhere to specific regulations issued by the FDA. Currently, synthetic food colors are prohibited in over 200 food products in the U.S.

In Europe, all food additives, including colorants, must receive authorization under European legislation before they can be used in food products. Authorized food colors are listed in Regulation EC 1333/2008, which outlines their approved uses and conditions.

Synthetic colors, valued for their versatility, are widely used across the food and beverage, pharmaceutical, and cosmetics industries. However, research by the California Office of Environmental Health Hazard Assessment (OEHHA) and other organizations has highlighted potential health risks associated with synthetic colorants. These include allergic reactions, skin irritation, and digestive issues. For example, synthetic orange-red colorants have been linked to allergy-like reactions and hyperactivity in children. Some studies suggest that eliminating artificial colors from children's diets may alleviate symptoms of attention-related disorders and other behavioral issues. Additionally, the African Journal of Biotechnology notes that high consumption of tartrazine is associated with cancer risks and can trigger asthma attacks, hazy vision, eczema, and skin reactions.

Therefore, the reluctance to use synthetic colors is expected to increase the demand for natural colors, driving the growth of this market.

Algal Pigments Market Opportunity

Growing Demand for Phycocyanin

Phycocyanin is a pigment-protein complex produced by blue-green microalgae such as Arthrospira (spirulina). It is predominantly utilized as a natural coloring agent in the food industry. Research has shown that this natural pigment offers various health benefits. The marketability of phycocyanin is significantly influenced by its price, which is largely determined by the cost of culturing the algae, particularly the expense associated with the growth substrate.

Phycocyanin is employed as a natural food coloring agent and is recognized for its antioxidant properties, demonstrated both in vivo and in vitro, making it a valuable nutraceutical compound. It is frequently used as a dietary supplement and exhibits various pharmacological benefits. Additionally, phycocyanin serves as a natural blue dye in food and cosmetics. Factors influencing the extraction process include the biomass content of phycocyanin, particle size distribution, solvent type, extraction time, temperature, mixing rate, and biomass-to-solvent ratio. The overall cost of phycocyanin production is primarily determined by the expense of spirulina cultivation, with the mineral medium used representing the largest cost component.

The benefits driving the consumption of phycocyanin include its stability, safety, bioavailability, interactions with food matrix components, and health-promoting effects. The demand for phycocyanin as a natural blue food colorant has increased notably over the past five years, particularly following the FDA's approval of spirulina extract as a food colorant for gum and candy.

In the U.S., the FDA Code of Federal Regulations approves spirulina extract as a color additive and exempts it from certification. This extract, derived from the filtered aqueous extraction of dried Spirulina platensis biomass, contains phycocyanin as its principal coloring agent. Linablue became the first natural blue food coloring to receive FDA approval, reflecting a significant shift in consumer preference from artificial to natural food colorants, especially in North America and Europe. Linablue is gaining attention from food safety and security perspectives due to its vibrant color and natural origin.

Phycocyanin (C-PC) is also increasingly utilized as a natural colorant in alcoholic beverages, such as FIRKIN Blue gin, and in cosmetics, including lipsticks, eyeliners, and eye shadows. Furthermore, C-phycocyanin and its bilin chromophore hold significant potential in food technology as a safe food colorant, functional food additive, and nutraceutical and dietary supplement, thanks to its excellent health benefits and the possibility of sustainable and cost-effective mass production. These attributes are anticipated to create growth opportunities for companies in the global spirulina market.

Algal Pigments Market Analysis: Key Findings

The Beta-carotene Segment to Dominate the Algal Pigments Market in 2024

Based on type, the algal pigments market is segmented into beta-carotene, astaxanthin, fucoxanthin, phycocyanin, phycoerythrin, lutein, chlorophyll, and other types. In 2024, the beta-carotene segment is expected to account for the largest share of 22.3% of the algal pigments market. The significant market share of this segment is largely driven by the numerous benefits of beta-carotene, increasing demand for natural ingredients in the dietary supplement and food industries, extensive use of beta-carotene in food and beverages, cosmetics, and animal feed, and rising demand for dietary supplements due to beta-carotene’s antioxidant properties and its role in enhancing immunity.

However, the phycocyanin segment is expected to register the highest CAGR of 20.0% during the forecast period. This segment's growth is driven by the growing adoption of phycocyanin for nutraceutical and nutritional applications, resistance to synthetic colors, rising demand for natural blue colorants, increasing venture investments in phycocyanin production, the high potential of phycocyanin in pharmaceutical applications, and rising consumer awareness of clean-label products.

The Powder Segment to Dominate the Algal Pigments Market in 2024

Based on form, the algal pigments market is segmented into powder and liquid. In 2024, the powder segment is expected to account for the larger share of the algal pigments market. This segment’s substantial share is attributed to its ease of measurement, handling, and integration into formulations. Additionally, its longer shelf life and enhanced stability reduce the risk of degradation over time. These advantages have increased its utilization across a range of products, including food and beverages, cosmetics, pharmaceuticals, and animal feeds.

The Microalgae Segment to Dominate the Algal Pigments Market in 2024

Based on source, the global algal pigments market is segmented into microalgae (spirulina, haematococcus pluvialis, dunaliella salina, chlorella, and other microalgae), macroalgae/seaweed (red seaweed, brown seaweed, and green seaweed). In 2024, the microalgae segment is expected to account for the larger share of the algal pigments market. This segment's substantial market share is primarily attributed to the growing preference for microalgae-sourced products, heightened consumer interest in health and wellness trends, the expanding dietary supplement industry, rising demand for natural food colors, and the increasing growth of the nutraceuticals sector.

The Nutraceuticals Segment to Dominate the Algal Pigments Market in 2024

Based on application, the global algal pigments market is segmented into nutraceuticals, food & beverages, aquaculture, pharmaceuticals, cosmetics, and other applications. In 2024, the nutraceuticals segment is expected to account for the largest share of 38.2% of the algal pigments market. The substantial market share of this segment is primarily driven by growing health consciousness among consumers, the increasing prevalence of chronic diseases, an aging population, and rising demand for natural ingredients in dietary supplements. Moreover, this segment is expected to register the highest CAGR during the forecast period.

Geographical Analysis

Europe Dominates the Algal Pigments Market

Based on geography, the algal pigments market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of 32.1% of the algal pigments market, followed by North America and Asia-Pacific. The Europe Algal Pigments market is estimated to be worth USD 141.7 million in 2024. Europe's significant market share is driven by several key factors, such as the extensive food and beverage industry, stringent regulations prohibiting synthetic colors, increasing health and wellness trends, high demand for natural colorants across multiple end-use sectors, a substantial number of algal pigment manufacturers, and growing governmental emphasis on the algae industry.

However, Asia-Pacific is expected to record the highest CAGR of 9.6% during the forecast period. This rapid growth is attributed to the rising number of local and regional players providing algal pigments, increasing consumption of natural food ingredients, various government initiatives supporting the use of algae, growing demand for algal pigments within the food and beverage industry, and an increased consumer preference for natural ingredients.

Algal Pigments Market: Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the algal pigments market are Bluetec Naturals Co., Ltd (China), E.I.D. - Parry (India) Limited (A Subsidiary Of M/S. Ambadi Investments Limited) (India), DIC Corporation (Japan), Cyanotech Corporation (U.S.), AstaReal Co., Ltd. (Japan), Algatechologies Ltd. (Israel), Zhejiang Binmei Biotechnology Co., Ltd (China), Algae Health Sciences (U.S.), Sochim International S.p.A. (Italy), Givaudan SA (Switzerland), Merck KGaA (Germany), Sensient Technologies Corporation (U.S.), Tianjin Norland Biotech Co., Ltd (China), Shaivaa Algaetech LLP (India), and Divi's Laboratories Limited (India).

Algal Pigments Industry Overview: Latest Developments from Key Industry Players

In March 2024, Kuehnle AgroSystems Inc. (U.S.) secured USD 3 million in a Series A2 funding round led by S2G Ventures.
In January 2024, AstaReal Co., Ltd. (Japan) introduced a rebranded version of its finished formulation, Astaxin, in Sweden and Norway.
In June 2022, DDW, Inc. partnered with Fermentalg (France), a company specializing in sustainable solutions and active ingredients derived from microalgae for nutrition, health, and environmental applications, to launch Galdieria Blue Extract.

Algal Pigments Market Research Summary

Particulars	Details
Number of Pages	180
Format	PDF
Forecast Period	2024–2031
Base Year	2024
CAGR (Value)	7.2%
Market Size (Value)	USD 718.0 million by 2031
Segments Covered	By Type Beta-carotene Astaxanthin Fucoxanthin Phycocyanin Phycoerythrin Lutein Chlorophyll Other Types By Form Powder Liquid By Source Microalgae Spirulina Haematococcus pluvialis Dunaliella Salina Chlorella Other Microalgae Macroalgae/Seaweed Red Seaweed Brown Seaweed Green Seaweed By Application Food & Beverages Beverages Bakery Products Confectionary Products Other Food & Beverages Aquaculture Nutraceuticals Pharmaceuticals Cosmetics Other Applications
Countries Covered	North America (U.S., Canada), Europe (France, Germany, U.K., Italy, Spain, Netherlands, Denmark, Sweden, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Thailand, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (Egypt, Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa)
Key Companies	Bluetec Naturals Co., Ltd (China), E.I.D. - Parry (India) Limited (A Subsidiary Of M/S. Ambadi Investments Limited) (India), DIC Corporation (Japan), Cyanotech Corporation (U.S.), AstaReal Co., Ltd. (Japan), Algatechologies Ltd. (Israel), Zhejiang Binmei Biotechnology Co., Ltd (China), Algae Health Sciences (U.S.), Sochim International S.p.A. (Italy), Givaudan SA (Switzerland), DIC Corporation (Japan), Merck KGaA (Germany), Sensient Technologies Corporation (U.S.), Tianjin Norland Biotech Co., Ltd (China), Shaivaa Algaetech LLP (India), and Divi's Laboratories Limited (India)

Key questions answered in the algal pigments market report:

What is the focus of the algal pigments market study?

Algal pigments are natural pigments or colorants derived from algae mainly including various microalgae and macroalgae. The different types of algae pigments are beta-carotene, astaxanthin, fucoxanthin, phycocyanin, phycoerythrin, lutein, chlorophyll, and other types of algal pigments. These pigments are derived in powdered and liquid form. There is increasing application of these pigments in various food and beverage products, aquaculture, nutraceuticals, pharmaceuticals, and cosmetics.

The algal pigments market study provides valuable insights, market sizes, and forecasts in terms of value by type, form, source, application, and geography.

What is the size of the algal pigments market, and at what CAGR is this market projected to grow during 2024–2031?

The algal pigments market is projected to reach $718 million in value by 2031, at a CAGR of 7.2% during the forecast period.

Which type category is expected to hold the major share of the market in 2024?

In 2024, the beta-carotene segment is expected to hold a major share of the algal pigments market.

Which is the high-growth application segment of the algal pigments market?

The nutraceuticals segment is expected to witness the fastest growth during the forecast period of 2024–2031.

What are the key factors supporting the growth of this market? What are the major opportunities for existing market players and new entrants in the algal pigments market?

The growth of this algal pigment market is primarily driven by the rising demand for natural colorants, a growing reluctance to use synthetic colors, the increased adoption of algal pigments for therapeutic and nutritional purposes, heightened awareness of clean-label products, and the need to enhance product appeal. Additionally, the expanding demand for phycocyanin and the increasing use of natural astaxanthin in poultry and aquaculture feed create opportunities for players operating in this market.

Who are the major players operating in the algal pigments market?

The key players operating in the algal pigments market are Bluetec Naturals Co., Ltd (China), E.I.D. - Parry (India) Limited (A Subsidiary Of M/S. Ambadi Investments Limited) (India), DIC Corporation (Japan), Cyanotech Corporation (U.S.), AstaReal Co., Ltd. (Japan), Algatechologies Ltd. (Israel), Zhejiang Binmei Biotechnology Co., Ltd (China), Algae Health Sciences (U.S.), Sochim International S.p.A. (Italy), Givaudan SA (Switzerland), DIC Corporation (Japan), Merck KGaA (Germany), Sensient Technologies Corporation (U.S.), Tianjin Norland Biotech Co., Ltd (China), Shaivaa Algaetech LLP (India), and Divi's Laboratories Limited (India).

Which regions/countries are likely to offer significant growth opportunities for the vendors in this market during the analysis period?

Asia-Pacific is expected to witness significant growth during the forecast period of 2024–2031, mainly due to the increasing presence of numerous local and regional players offering algal pigments, rising demand for natural food ingredients, various government initiatives to promote the use of algae, increasing demand for algal pigments from the food and beverage industry, and growing consumer preference for natural ingredients.

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1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection and Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Size and Forecast
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary
3.1. Overview
3.2. Segmental Analysis
3.2.1. Algal Pigments Market Analysis, by Type
3.2.2. Algal Pigments Market Analysis, by Form
3.2.3. Algal Pigments Market Analysis, by Source
3.2.4. Algal Pigments Market Analysis, by Application
3.3. Algal Pigments Market, by Regional Analysis
3.4. Competitive Landscape & Market Competitors

4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Rising Demand for Natural Colorants
4.2.1.2. Reluctance Toward the Use of Synthetic Colors
4.2.1.3. Increased Adoption of Algal Pigments for Therapeutic & Nutritional Purposes
4.2.1.4. Increasing Awareness for Clean-label Products
4.2.1.5. Growing Need to Enhance Product Appeal
4.2.2. Restraints
4.2.2.1. High Cost of Natural Colors
4.2.2.2. Complex Production Process for Algae
4.2.2.3. Risk of Algae Contamination
4.2.3. Opportunities
4.2.3.1. Growing Demand for Phycocyanin
4.2.3.2. Increasing Use of Natural Astaxanthin in Poultry and Aquaculture Feed
4.3. Trend
4.4. Pricing Analysis
4.4.1. Beta-carotene
4.4.2. Astaxanthin
4.4.3. Fucoxanthin
4.4.4. Phycocyanin
4.4.5. Phycoerythrin
4.4.6. Lutein
4.4.7. Chlorophyll
4.4.8. Other Types
4.5. Value Chain Analysis
4.6. Porters Five Forces Analysis
4.6.1. Bargaining Power of Suppliers
4.6.2. Bargaining Power of Buyers
4.6.3. Threat of Substitutes
4.6.4. Threat of New Entrants
4.6.5. Degree of Competition
4.7. Product Adoption Trends Across Different Applications

5. Algal Pigments Market Assessment—by Type
5.1. Overview
5.2. Beta-carotene
5.3. Astaxanthin
5.4. Fucoxanthin
5.5. Phycocyanin
5.6. Phycoerythrin
5.7. Lutein
5.8. Chlorophyll
5.9. Other Types

6. Algal Pigments Market Assessment—by Form
6.1. Overview
6.2. Powder
6.3. Liquid

7. Algal Pigments Market Assessment—by Source
7.1. Overview
7.2. Microalgae
7.2.1. Spirulina
7.2.2. Haematococcus pluvialis
7.2.3. Dunaliella Salina
7.2.4. Chlorella
7.2.5. Other Microalgae
7.3. Macroalgae/Seaweed
7.3.1. Red Seaweed
7.3.2. Brown Seaweed
7.3.3. Green Seaweed

8. Algal Pigments Market Assessment—by Application
8.1. Overview
8.2. Nutraceuticals
8.3. Food & Beverage
8.3.1. Beverages
8.3.2. Bakery Products
8.3.3. Confectionary Products
8.3.4. Other Food & Beverages
8.4. Aquaculture
8.5. Pharmaceuticals
8.6. Cosmetics
8.7. Other Applications

9. Algal Pigments Market Assessment—by Geography
9.1. Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. France
9.3.2. Germany
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.3.6. Netherlands
9.3.7. Denmark
9.3.8. Sweden
9.3.9. Rest of Europe (RoE)
9.4. Asia-Pacific
9.4.1. China
9.4.2. India
9.4.3. Japan
9.4.4. Australia
9.4.5. Thailand
9.4.6. Rest of Asia-Pacific (RoAPAC)
9.5. Latin America
9.5.1. Brazil
9.5.2. Mexico
9.5.3. Rest of Latin America (RoLATAM)
9.6. Middle East & Africa
9.6.1. Egypt
9.6.2. Saudi Arabia
9.6.3. South Africa
9.6.4. UAE
9.6.5. Rest of Middle East & Africa

10. Competition Analysis
10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Competitive Dashboard
10.4.1. Industry Leaders
10.4.2. Market Differentiators
10.4.3. Vanguards
10.4.4. Emerging Companies
10.5. Market Ranking/Positioning Analysis of Key Players, 2023

11. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
11.1. Bluetec Naturals Co., Ltd
11.2. E.I.D. - Parry (India) Limited (A Subsidiary Of M/S. Ambadi Investments Limited)
11.3. Cyanotech Corporation
11.4. AstaReal Co., Ltd.
11.5. Algatechnologies Ltd.
11.6. Zhejiang Binmei Biotechnology Co., Ltd
11.7. Algae Health Sciences
11.8. Sochim International S.p.A.
11.9. Givaudan SA
11.10. DIC Corporation
11.11. Merck KGaA
11.12. Sensient Technologies Corporation
11.13. Tianjin Norland Biotech Co., Ltd
11.14. Shaivaa Algaetechf LLP
11.15. Divi's Laboratories Limited
(Note: SWOT Analysis of Top 5 Companies Will Be Provided)

12. Appendix
12.1. Available Customization
12.2. Related Reports

List of Tables
Table 1   Average Selling Prices of Beta-carotene, by Country/Region, 2022–2031 (USD/Ton)
Table 2   Average Selling Prices of Astaxanthin, by Country/Region, 2022–2031 (USD/Ton)
Table 3   Average Selling Prices of Fucoxanthin, by Country/Region, 2022–2031 (USD/Ton)
Table 4   Average Selling Prices of Phycocyanin, by Country/Region, 2022–2031 (USD/Ton)
Table 5   Average Selling Prices of Phycoerythrin, by Country/Region, 2022–2031 (USD/Ton)
Table 6   Average Selling Prices of Lutein, by Country/Region, 2022–2031 (USD/Ton)
Table 7   Average Selling Prices of Chlorophyll, by Country/Region, 2022–2031 (USD/Ton)
Table 8   Average Selling Prices of Other Types, by Country/Region, 2022–2031 (USD/Ton)
Table 9   Global Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 10   Global Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 11   Global Beta-carotene Market, by Country/Region, 2022–2031 (USD Million)
Table 12   Global Beta-carotene Market, by Country/Region, 2022–2031 (Tons)
Table 13   Global Astaxanthin Market, by Country/Region, 2022–2031 (USD Million)
Table 14   Global Astaxanthin Market, by Country/Region, 2022–2031 (Tons)
Table 15   Global Fucoxanthin Market, by Country/Region, 2022–2031 (USD Million)
Table 16   Global Fucoxanthin Market, by Country/Region, 2022–2031 (Tons)
Table 17   Global Phycocyanin Market, by Country/Region, 2022–2031 (USD Million)
Table 18   Global Phycocyanin Market, by Country/Region, 2022–2031 (Tons)
Table 19   Global Phycoerythrin Market, by Country/Region, 2022–2031 (USD Million)
Table 20   Global Phycoerythrin Market, by Country/Region, 2022–2031 (Tons)
Table 21   Global Lutein Market, by Country/Region, 2022–2031 (USD Million)
Table 22   Global Lutein Market, by Country/Region, 2022–2031 (Tons)
Table 23   Global Chlorophyll Market, by Country/Region, 2022–2031 (USD Million)
Table 24   Global Chlorophyll Market, by Country/Region, 2022–2031 (Tons)
Table 25   Global Other Types Market, by Country/Region, 2022–2031 (USD Million)
Table 26   Global Other Types Market, by Country/Region, 2022–2031 (Tons)
Table 27   Global Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 28   Global Powder Algal Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 29   Global Liquid Algal Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 30   Global Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 31   Global Microalgae-based Pigments Market, by Type, 2022–2031 (USD Million)
Table 32   Global Microalgae-based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 33   Global Spirulina-based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 34   Global Haematococcus pluvialis Based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 35   Global Dunaliella Salina-based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 36   Global Chlorella-based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 37   Global Other Microalgae-based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 38   Global Macroalgae/Seaweed-based Pigments Market, by Type, 2022–2031 (USD Million)
Table 39   Global Macroalgae-based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 40   Global Red Seaweed-based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 41   Global Brown Seaweed-based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 42   Global Green Seaweed-based Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 43   Global Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 44   Global Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 45   Global Algal Pigments Market for Food & Beverages, by Country/Region, 2022–2031 (USD Million)
Table 46   Global Algal Pigments Market for Beverages, by Country/Region, 2022–2031 (USD Million)
Table 47   Global Algal Pigments Market for Bakery Products, by Country/Region, 2022–2031 (USD Million)
Table 48   Global Algal Pigments Market for Confectionary Products, by Country/Region, 2022–2031 (USD Million)
Table 49   Global Algal Pigments Market for Other Food & Beverages, by Country/Region, 2022–2031 (USD Million)
Table 50   Global Algal Pigments Market for Aquaculture, by Country/Region, 2022–2031 (USD Million)
Table 51   Global Algal Pigments Market for Nutraceuticals, by Country/Region, 2022–2031 (USD Million)
Table 52   Global Algal Pigments Market for Pharmaceuticals, by Country/Region, 2022–2031 (USD Million)
Table 53   Global Algal Pigments Market for Cosmetics, by Country/Region, 2022–2031 (USD Million)
Table 54   Global Algal Pigments Market for Other Applications, by Country/Region, 2022–2031 (USD Million)
Table 55   Global Algal Pigments Market, by Region, 2022–2031 (USD Million)
Table 56   Global Algal Pigments Market, by Region, 2022–2031 (Tons)
Table 57   North America: Algal Pigments Market, by Country, 2022–2031 (USD Million)
Table 58   North America: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 59   North America: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 60   North America: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 61   North America: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 62   North America: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 63   North America: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 64   U.S.: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 65   U.S.: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 66   U.S.: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 67   U.S.: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 68   U.S.: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 69   U.S.: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 70   Canada: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 71   Canada: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 72   Canada: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 73   Canada: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 74   Canada: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 75   Canada: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 76   Europe: Algal Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 77   Europe: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 78   Europe: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 79   Europe: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 80   Europe: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 81   Europe: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 82   Europe: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 83   France: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 84   France: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 85   France: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 86   France: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 87   France: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 88   France: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 89   Germany: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 90   Germany: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 91   Germany: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 92   Germany: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 93   Germany: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 94   Germany: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 95   U.K.: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 96   U.K.: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 97   U.K.: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 98   U.K.: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 99   U.K.: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 100   U.K.: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 101   Italy: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 102   Italy: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 103   Italy: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 104   Italy: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 105   Italy: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 106   Italy: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 107   Spain: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 108   Spain: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 109   Spain: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 110   Spain: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 111       Spain: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 112   Spain: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 113   Netherlands: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 114   Netherlands: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 115   Netherlands: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 116   Netherlands: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 117   Netherlands: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 118   Netherlands: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 119   Denmark: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 120   Denmark: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 121   Denmark: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 122   Denmark: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 123   Denmark: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 124   Denmark: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 125   Sweden: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 126   Sweden: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 127   Sweden: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 128   Sweden: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 129   Sweden: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 130   Sweden: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 131   Rest of Europe: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 132   Rest of Europe: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 133   Rest of Europe: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 134   Rest of Europe: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 135   Rest of Europe: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 136   Rest of Europe: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 137   Asia-Pacific: Algal Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 138   Asia-Pacific: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 139   Asia-Pacific: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 140   Asia-Pacific: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 141   Asia-Pacific: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 142   Asia-Pacific: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 143   Asia-Pacific: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 144   China: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 145   China: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 146   China: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 147   China: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 148   China: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 149   China: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 150   India: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 151   India: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 152   India: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 153   India: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 154   India: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 155   India: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 156   Japan: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 157   Japan: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 158   Japan: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 159   Japan: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 160   Japan: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 161   Japan: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 162   Australia: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 163   Australia: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 164   Australia: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 165   Australia: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 166   Australia: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 167   Australia: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 168   Thailand: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 169   Thailand: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 170   Thailand: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 171   Thailand: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 172   Thailand: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 173   Thailand: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 174   Rest of Asia-Pacific: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 175   Rest of Asia-Pacific: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 176   Rest of Asia-Pacific: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 177   Rest of Asia-Pacific: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 178   Rest of Asia-Pacific: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 179   Rest of Asia-Pacific: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 180   Latin America: Algal Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 181   Latin America: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 182   Latin America: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 183   Latin America: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 184   Latin America: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 185   Latin America: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 186   Latin America: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 187   Brazil: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 188   Brazil: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 189   Brazil: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 190   Brazil: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 191   Brazil: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 192   Brazil: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 193   Mexico: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 194   Mexico: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 195   Mexico: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 196   Mexico: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 197   Mexico: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 198   Mexico: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 199   Rest of Latin America: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 200   Rest of Latin America: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 201   Rest of Latin America: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 202   Rest of Latin America: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 203   Rest of Latin America: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 204   Rest of Latin America: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 205   Middle East & Africa: Algal Pigments Market, by Country/Region, 2022–2031 (USD Million)
Table 206   Middle East & Africa: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 207   Middle East & Africa: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 208   Middle East & Africa: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 209   Middle East & Africa: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 210   Middle East & Africa: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 211   Middle East & Africa: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 212   Egypt: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 213   Egypt: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 214   Egypt: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 215   Egypt: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 216   Egypt: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 217   Egypt: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 218   Saudi Arabia: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 219   Saudi Arabia: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 220   Saudi Arabia: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 221   Saudi Arabia: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 222   Saudi Arabia: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 223   Saudi Arabia: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 224   South Africa: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 225   South Africa: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 226   South Africa: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 227   South Africa: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 228   South Africa: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 229   South Africa: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 230   UAE: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 231   UAE: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 232   UAE: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 233   UAE: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 234   UAE: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 235   UAE: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)
Table 236   Rest of Middle East & Africa: Algal Pigments Market, by Type, 2022–2031 (USD Million)
Table 237   Rest of Middle East & Africa: Algal Pigments Market, by Type, 2022–2031 (Tons)
Table 238   Rest of Middle East & Africa: Algal Pigments Market, by Form, 2022–2031 (USD Million)
Table 239   Rest of Middle East & Africa: Algal Pigments Market, by Source, 2022–2031 (USD Million)
Table 240   Rest of Middle East & Africa: Algal Pigments Market, by Application, 2022–2031 (USD Million)
Table 241   Rest of Middle East & Africa: Algal Pigments Market for Food & Beverages, by Type, 2022–2031 (USD Million)

List of Figures
Figure 1   Research Process
Figure 2   Secondary Sources Referenced for this Study
Figure 3   Primary Research Techniques
Figure 4   Key Executives Interviewed
Figure 5   Breakdown of Primary Interviews (Supply Side & Demand Side)
Figure 6   Market Sizing and Growth Forecast Approach
Figure 7   The Phycocyanin Segment to Register the Fastest Growth in Algal Pigments Market During the Forecast Period
Figure 8   In 2024, the Powder Segment to Dominate the Global Algal Pigments Market
Figure 9   In 2024, the Microalgae Segment to Dominate the Global Algal Pigments Market
Figure 10   In 2024, the Nutraceuticals Segment to Dominate the Overall Algal Pigments Market
Figure 11   Europe Dominates the Overall Algal Pigments Market, While Asia-Pacific Leads in Growth
Figure 12   Impact Analysis of Market Dynamics
Figure 13   Algal Pigments Market: Value Chain Analysis
Figure 14   Algal Pigments Market: Porter’s Five Forces Analysis
Figure 15   Global Algal Pigments Market, by Type, 2024 Vs. 2031 (USD Million)
Figure 16   Global Algal Pigments Market, by Type, 2024 Vs. 2031 (Tons)
Figure 17   Global Algal Pigments Market, by Form, 2024 Vs. 2031 (USD Million)
Figure 18   Global Algal Pigments Market, by Source, 2024 Vs. 2031 (USD Million)
Figure 19   Global Algal Pigments Market, by Application, 2024 Vs. 2031 (USD Million)
Figure 20   North America: Algal Pigments Market Snapshot (2024)
Figure 21   Europe: Algal Pigments Market Snapshot (2024)
Figure 22   Asia-Pacific: Algal Pigments Market Snapshot (2024)
Figure 23   Latin America: Algal Pigments Market Snapshot (2024)
Figure 24   Middle East & Africa: Algal Pigments Market Snapshot (2024)
Figure 25   Key Growth Strategies Adopted by Leading Players (2021–2024)
Figure 26   Global Algal Pigments Market Competitive Benchmarking, by Application
Figure 27   Competitive Dashboard: Global Algal Pigments Market
Figure 28   Global Algal Pigments Market Ranking/Positioning of Key Players, 2023
Figure 29   E.I.D. - Parry (India) Limited: Financial Overview (2024)
Figure 30   Cyanotech Corporation: Financial Overview (2023)
Figure 31   Givaudan SA: Financial Overview (2023)
Figure 32   DIC Corporation: Financial Overview (2023)
Figure 33   Merck KGaA: Financial Overview (2023)
Figure 34   Sensient Technologies Corporation: Financial Overview (2023)
Figure 35   Divi's Laboratories Limited: Financial Overview (2024)