Europe Haematococcus Pluvialis Market (2023-2030)
The Europe Haematococcus Pluvialis Market is projected to reach $35 million by 2030, at a CAGR of 13.4% during the forecast period of 2023 to 2030.
- Published
- May 2023
- Pages
- 161
- Format
- PDF + Excel
- Report ID
- MRFB - 104812
- Base year
- 2022
- 2030 · FORECAST
- $35.0M
- 2030
- $35.0M
- CAGR 2023–2030
- 13.4%
2022 baseline · 2023–2030 forecast at 13.4% CAGR · hover a bar for the value
Key highlights
In 2023, the Astaxanthin Ingredients Segment is Expected to Dominate the Europe Haematococcus Pluvialis Market
In 2023, the Nutraceuticals Segment is Expected to Dominate the Europe Haematococcus Pluvialis Market
Germany Dominates the Europe Haematococcus Pluvialis Market, While the U.K. Leads in Growth
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2023–2030 |
| Market Size (2030) | USD 35.0 million |
| CAGR (2023–2030) | 13.4% |
| Format | PDF, Excel & Cloud Portal · 161 pages |
| Segments Covered | By Product: Astaxanthin Ingredients Astaxanthin Oleoresin, Beadlets, Whole Biomass Powder, Water-dispersible Powder, Capsules/Softgels, Tablets · By Application: Nutraceuticals, Aquaculture and Animal Feed, Cosmetics, Food & Beverages, Pharmaceuticals |
| Countries Covered | Europe (RoE) |
| Key Companies | Cyanotech Corporation (U.S.), Sun Chlorella Corporation, Roquette Klötze GmbH & Co. KG, Tianjin Norland Biotech Co., Ltd, Aliga Microalgae, DAESANG Corporation, BlueBioTech Group, Algatechnologies Ltd. (A Part of Solabia Group), AstaReal Group, BEIJING GINGKO GROUP (BGG) (U.S.), FENCHEM, PIVEG, Inc. (U.S.), Algamo s.r.o, Atacama Bio Natural Products S.A., BDI BioLife Science GmbH, Pond Technologies Inc., Algicel, Biotecnologia e Investigaçã, Lda, Astaxa GmbH |
Report overview
Segments covered: product, application. Regions: Europe.
This report is executed in collaboration with the European Algae Biomass Association (EABA). Combining Meticulous Research®’ market intelligence services with EABA’s broad expertise in the development of research, technology and industrial capacities in the field of algae, the two organizations have leveraged their research capabilities to come up with the most reliable and accurate market assessments in this field.
The growth of this market is driven by the increasing demand for natural astaxanthin for nutraceuticals, the growing demand for natural food colorants, and the increasing awareness of clean-label products. However, the high production cost is expected to restrain the growth of this market.
The rising demand for natural astaxanthin and the growing use of natural astaxanthin in poultry and aquaculture is expected to create market growth opportunities. However, the complex production process for haematococcus pluvialis is a major challenge for the players operating in this market. Additionally, the increasing need for self-grooming products is a prominent trend in the Europe haematococcus pluvialis market.
Report infographic
Market dynamics
1 factors across 1 forceGrowing Demand for Natural Food Colorants
Rapid use of artificial production sources to increase food production has led to various health hazards. Today, factors such as rising health consciousness and inclination toward environment-friendly products are boosting the demand for naturally grown food products worldwide. These factors have compelled food manufacturers to shift toward natural food colors to make their products more appealing to consumers.
Natural food colors are typically derived from sources such as algae, plants, animals, fruits, and insects and are commonly used as food additives due to their non-toxic or low-toxicity properties and minimal side effects. The therapeutic uses of natural food colors are also increasing due to these benefits. In addition, the European government supports the use of natural food colors because they are biodegradable and do not contribute to pollution when disposed of. As a result, several regulations have been passed in Europe that favor the use of natural food colors over synthetic ones, which is expected to further boost demand for natural food colors throughout the region.
According to Food and Drink Europe, the European food and beverage industry has a turnover of nearly USD 1.2 Trillion (EUR 1.1 trillion). The growth in the food and beverage industry is expected to drive the demand for astaxanthin derived from haematococcus pluvialis.
Artificial food color additives are linked to cancer. Also, some artificial food colorants are banned in Europe for food and beverage use. Moreover, increasing government support for encouraging the adoption of natural food colors in various food and beverage applications, increasing consumer preference for organic & clean-label products, and promoting health & wellness will continue to influence the demand for natural food colors across Europe.
Moreover, there are concerns about the safety of using synthetic astaxanthin for direct human consumption due to both different stereochemistry and potential carryover of synthesis intermediates. These concerns make natural astaxanthin derived from the haematococcus pluvialis microalgae a preferred choice for high-end markets. Haematococcus pluvialis has already been approved as a color additive in salmon feeds and a dietary-supplement ingredient for human consumption in several European countries. However, there is no EFSA (European Food Safety Authority) approval for therapeutic applications.
Supercritical CO2 extracts from haematococcus pluvialis have been granted novel food status by the U.K. Food Standards Agency (FSA). Thus, astaxanthin is a high-value product in the carotenoid marketplace and is also used as a pigmentation source for salmon, shrimp, trout, and poultry applications.
Table of contents
10 chapters · 93 sections · 161 pages · click to expandSegmental analysis
| Segment | Largest share (2023) | Fastest growth (2023–2030) |
|---|---|---|
| By Product | Astaxanthin Ingredients | — |
| By Application | Nutraceuticals | Food & beverages |
By Product
- The astaxanthin ingredients segment is expected to account for the largest share of the Europe haematococcus pluvialis market.
- The large share of this segment is mainly attributed to the growing end-use applications of astaxanthin ingredients, rising awareness about preventive healthcare & nutraceuticals, rising demand for natural antioxidants, growing cosmetic & personal care markets, and government initiatives to support the aquaculture industry.
By Application
- The nutraceuticals segment is expected to account for the largest share of the Europe haematococcus pluvialis market.
- The large market share of this segment is primarily attributed to the increasing demand for natural astaxanthin derived from haematococcus in the nutraceuticals industry.
- This demand is driven by the potential health benefits that astaxanthin may provide, including its effects on various diseases such as cancers, hypertension, diabetes, cardiovascular and gastrointestinal disorders, neurodegenerative diseases, and certain skin conditions.
- However, the food & beverages segment is projected to register the highest CAGR during the forecast period of 2023–2030.
- The growth of this segment is attributed to the rising health awareness & food consciousness, growing demand for organic foods, rising use of natural food colors over synthetic, and increasing consumption of antioxidants in food & supplements.
Geographic analysis
Europe
Largest shareIn 2023, Germany is expected to account for the largest share of the Europe haematococcus pluvialis market, followed by the U.K. and Italy. Germany’s major market share is attributed to the growing number of health-conscious consumers who are willing to pay premium prices for environmentally friendly and natural products. The German government has implemented education programs and media advertisements featuring healthy lifestyles and increasing body consciousness, further encouraging consumers to prioritize health and wellness products. As a result, food manufacturers are increasingly marketing their products as healthy options, resulting in a surge in demand for natural antioxidants and other healthy food ingredients. This trend has positively impacted the demand for haematococcus Pluvialis-derived products from various end-use industries. However, the U.K. is expected to witness a significant growth rate during the forecast period, mainly due to its rapidly growing vegan population, people’s drive towards maintaining a healthy dietary regime, and the well-established F&B industry. Germany Dominates the Europe Haematococcus Pluvialis Market, While the U.K. Leads in Growth
Competitive landscape
- Cyanotech Corporation (U.S.)
- Sun Chlorella Corporation · Japan
- Roquette Klötze GmbH & Co. KG · Germany
- Tianjin Norland Biotech Co., Ltd · China
- Aliga Microalgae · Denmark
- DAESANG Corporation · Korea
- BlueBioTech Group · Germany
- Algatechnologies Ltd. (A Part of Solabia Group) · Israel
- AstaReal Group · Japan
- BEIJING GINGKO GROUP (BGG) (U.S.)
- FENCHEM · China
- PIVEG, Inc. (U.S.)
- Algamo s.r.o · Czech Republic
- Atacama Bio Natural Products S.A. · Chile
- BDI BioLife Science GmbH · Austria
- Pond Technologies Inc. · Canada
- Algicel
- Biotecnologia e Investigaçã
- Lda · Portugal
- Astaxa GmbH · Germany
Frequently asked questions
Haematococcus pluvialis is a freshwater green microalga and is considered the best natural source of astaxanthin, a potent antioxidant. This reddish carotenoid pigment is found naturally in haematococcus pluvialis micro-algae and is responsible for the pink-red color in seafood such as salmon, lobster, and shrimp. Astaxanthin derived from haematococcus pluvialis is widely used as a dietary supplement due to its easy availability and potential cardiovascular benefits. This product is over 500 times stronger than vitamin E and more effective than other carotenoids like lutein and lycopene. Additionally, astaxanthin's anti-inflammatory properties have been found to help alleviate pain in the muscles, joints, and tendons of patients with chronic arthritis.
This report provides detailed market insights and market sizes & forecasts of the Europe haematococcus pluvialis market segmented by product, application, and geography. In this study, we have considered the revenue of haematococcus pluvialis biomass sold in Europe in the form of astaxanthin ingredients and astaxanthin bulk finished products. The application of these products includes nutraceuticals, aquaculture and animal feed, cosmetics, food & beverages, and pharmaceuticals.
Cite this report
Meticulous Research. (2023). Europe Haematococcus Pluvialis Market - Regional Opportunity Analysis and Industry Forecast (2023-2030) (Report No. MRFB - 104812). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/europe-haematococcus-pluvialis-market-5496