Europe Microalgae Market (2023-2030)
The Europe Microalgae Market is expected to reach $491.9 million by 2030, at a CAGR of 9.3% during the forecast period of 2023–2030. In terms of volume, the Europe Microalgae Market is expected to reach 25,465 tons by 2030, at a CAGR of 8.3% during the forecast period 2023–2030.
- Published
- Apr 2023
- Pages
- 168
- Format
- PDF + Excel
- Report ID
- MRFB - 104807
- Base year
- 2022
- 2030 · FORECAST
- $491.9M
- 2030
- $491.9M
- CAGR 2023–2030
- 9.3%
2022 baseline · 2023–2030 forecast at 9.3% CAGR · hover a bar for the value
Key highlights
In 2023, the Chlorella Segment is Expected to Account for the Largest Share of the Europe Microalgae Market
In 2023, the Inorganic Segment is Expected to Account for the Largest Share of the Europe Microalgae Market
In 2023, the Ponds Segment is Expected to Account for the Largest Share of the Europe Microalgae Market
In 2023, the Business Channel Segment is Expected to Account for the Largest Share of the Europe Microalgae Market
In 2023, the Nutraceuticals Segment is Expected to Account for the Largest Share of the Europe Microalgae Market
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2023–2030 |
| Market Size (2030) | USD 491.9 million |
| CAGR (2023–2030) | 9.3% |
| Format | PDF, Excel & Cloud Portal · 168 pages |
| Segments Covered | By Type: Spirulina, Chlorella, Dunaliella salina, Haematococcus pluvialis, Nannochloropsis, Other Microalgae · By Category: Inorganic Microalgae, Organic Microalgae · By Production Technique: Ponds, Fermenters, Photobioreactors · By Distribution Channel: Business Channel, Consumer Channel · By Application: Nutraceuticals, Food and Beverages, Animal Feed, Cosmetics, Other Applications |
| Countries Covered | Europe (France, Germany, U.K., Italy, Spain, Rest of Europe) |
| Key Companies | Fuqing King Dnarmsa Spirulina Co., Ltd., DIC Corporation, Cyanotech Corporation (U.S.), C.B.N. Bio-Engineering Co., Ltd, JIANGSHAN COMP SPIRULINA CO., LTD, Inner Mongolia Rejuve Biotech Co., Ltd., Zhejiang Binmei Biotechnology Co., Ltd., Bluetec Naturals CO., LTD., Taiwan Chlorella Manufacturing Company (TCMC), Sun Chlorella Corporation, Roquette Klötze GmbH & Co. KG, Vedan Biotechnology Corporation, AlgoSource, Tianjin Norland Biotech Co., Ltd, Allmicroalgae Natural Products S.A., Aliga Microalgae, ALGALIMENTO SL, Hangzhou OuQi Food co., Ltd., Far East Microalgae Industries, Co., Ltd.(FEMICO), BlueBioTech Group, Algatechnologies Ltd. (A Part of Solabia Group), Far East Bio-Tec. Co., Ltd. (FEBICO), Archimede Ricerche Srl, Necton S.A., Reed Mariculture Inc. (U.S.), AlgaSpring B.V., Astaxa GmbH |
Report overview
Segments covered: type, category, production technique, distribution channel, 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 consumer inclination toward health & wellness trends and the growing dietary supplements industry, the rising demand for natural food colors, increasing vegetarianism, the growing nutraceuticals industry, the increasing preference for microalgae-sourced products, and increasing awareness regarding benefits of microalgae. However, low awareness regarding the benefits of microalgae and the complexities in the production of algae products are expected to restrain the growth of this market. Furthermore, the rising demand for phycocyanin and the growing demand for microalgae among biorefineries are expected to create market growth opportunities. However, contamination risks are a major challenge for the players operating in this market. Additionally, the growing adoption of new production technologies (photobioreactors) is a prominent trend in the Europe microalgae market.
Report infographic
Market dynamics
1 factors across 1 forceIncreasing Awareness Regarding the Benefits of Microalgae
In the past few years, there has been a growing consumer interest in natural ingredients and innovative products, which has led to an increased interest in microalgae-based food, natural cosmetics, nutraceuticals, and other high-value health products. For centuries, microalgae have been recognized for their rich nutritional content and have been used to address dietary deficiencies in growing populations.
Recently, the growing awareness of the health benefits associated with microalgae has led to its increased popularity in the food and beverage industry. Thus, to capitalize on this trend, many market players are introducing microalgae-containing products to promote their innovative brands and drive sales. For instance:
- In March 2022, Gavan, Ltd., an Israel-based food tech start-up, launched a range of natural blue colorings from spirulina for hot-and-cold drinks.
- In September 2021, FUL Foods (Netherlands) launched a range of blue spirulina soft drinks in the U.K. The drinks are available in three flavors: white peach, lemon & ginger and mint & lime.
- In August 2021, Prolgae Spirulina Supplies Pvt Ltd (India) launched sweet spirulina powder and protein bars.
The launch of microalgae-derived products by major market players is expected to expand their product portfolios and enhance their business operations. The increase in demand for effective and innovative microalgae-based products is expected to drive the growth of the microalgae market in Europe.
Table of contents
13 chapters · 122 sections · 168 pages · click to expandSegmental analysis
| Segment | Largest share (2023) | Fastest growth (2023–2030) |
|---|---|---|
| By Type | Chlorella | Haematococcus pluvialis |
| By Category | Inorganic | Organic microalgae |
| By Production Technique | Ponds | Photobioreactors (PBR) |
| By Distribution Channel | Business Channel | — |
| By Application | Nutraceuticals | Food and beverages |
By Type
- The chlorella segment is expected to account for the larger share of the Europe microalgae market.
- The large share of this market is mainly attributed to the rise in health & wellness trends and the dietary supplements industry; increasing consumption of plant-based food; growing preference for chlorella-containing products; growing use of chlorella in nutraceuticals; and an increasing number of products that include chlorella as an ingredient.
- However, the Haematococcus pluvialis segment is projected to record the highest CAGR during the forecast period due to the increasing demand for natural astaxanthin in the nutraceutical industry, growing demand for natural food colorants, and increasing awareness for clean-label products.
By Category
- The Inorganic Segment is Expected to Account for the Largest Share of the Europe Microalgae Market
- The inorganic microalgae segment is expected to account for the larger share of the Europe microalgae market.
- The large share of this segment is primarily attributed to the high availability of microalgae grown through the traditional method and easy accessibility to cost-effective algae production.
- However, the organic microalgae segment is projected to register the highest CAGR during the forecast period due to the increasing demand for certified organic products in the European food industry and the growing demand for natural colorants.
- Furthermore, the increasing demand for organic growth media by microalgae manufacturers is expected to support the growth of this segment.
By Production Technique
- The ponds segment is expected to account for the larger share of the Europe microalgae market.
- The large share of this segment is primarily attributed to the presence of a large number of key players in the pond cultivation of microalgae; which requires lower investment, low operational and energy costs; and the potential to produce higher biomass volumes.
- However, the photobioreactors (PBR) segment is projected to grow at the fastest CAGR during the forecast period due to the growing demand for algal biomass from the food and beverage industry, lower vulnerability to species contamination, higher productivity, lower harvesting cost, reduced water and carbon dioxide losses, and easier control of the cultivation conditions such as temperature and pH.
By Distribution Channel
- The Business Channel Segment is Expected to Account for the Largest Share of the Europe Microalgae Market
- The business channel (B2B) segment is expected to account for the larger share of the Europe microalgae market.
- The large market share of this segment is attributed to the direct bulk purchasing of microalgae by manufacturers operating in various industries, such as nutraceuticals, food & beverage, and animal feed, for further product development.
- This segment is also expected to grow at the highest CAGR during the forecast period.
- The fast growth of this market is mainly attributed to factors such as the opportunity to engage directly with its consumers, better understand their needs, and deliver a custom-made experience.
By Application
- The nutraceuticals segment is expected to account for the larger share of the Europe microalgae market.
- The large market share of this segment is attributed to the booming nutraceuticals sector, growing health concerns of the aging population, the growing need for natural alternatives to traditional pharmaceutical products, and increased consumer awareness regarding the link between nutrition and health.
- However, the food and beverages segment is projected to grow at the fastest CAGR during the forecast period due to increasing plant-based food consumption and microalgae-containing product launches.
Geographic analysis
Europe
Largest shareIn 2023, Germany is expected to account for the largest share of the Europe microalgae market, followed by France and the U.K. Germany’s major market share is attributed to the huge consumption of health supplements, strict regulations against the use of synthetic colors, growth of subsidiary industries like cosmetics and biofertilizers, increasing preference for natural protein sources, and the presence of key algae biomass manufacturers with huge production capacities. However, France is expected to register the highest CAGR during the forecast period, mainly due to the increased adoption of microalgae, especially spirulina and chlorella, in the manufacturing of therapeutic & nutritional products, growing reluctance towards the usage of synthetic colors, rising demand for natural blue colorants, and investments from leading color stakeholders in the phycocyanin space. Germany: The Largest Market
Competitive landscape
- Fuqing King Dnarmsa Spirulina Co., Ltd. · China
- DIC Corporation · Japan
- Cyanotech Corporation (U.S.)
- C.B.N. Bio-Engineering Co., Ltd · China
- JIANGSHAN COMP SPIRULINA CO., LTD · China
- Inner Mongolia Rejuve Biotech Co., Ltd. · China
- Zhejiang Binmei Biotechnology Co., Ltd. · China
- Bluetec Naturals CO., LTD. · China
- Taiwan Chlorella Manufacturing Company (TCMC) · Taiwan
- Sun Chlorella Corporation · Japan
- Roquette Klötze GmbH & Co. KG · Germany
- Vedan Biotechnology Corporation · Taiwan
- AlgoSource · France
- Tianjin Norland Biotech Co., Ltd · China
- Allmicroalgae Natural Products S.A. · Portugal
- Aliga Microalgae · Denmark
- ALGALIMENTO SL · Spain
- Hangzhou OuQi Food co., Ltd. · China
- Far East Microalgae Industries, Co.
- Ltd.(FEMICO) · Taiwan
- BlueBioTech Group · Germany
- Algatechnologies Ltd. (A Part of Solabia Group) · Israel
- Far East Bio-Tec. Co., Ltd. (FEBICO) · Taiwan
- Archimede Ricerche Srl · Italy
- Necton S.A. · Portugal
- Reed Mariculture Inc. (U.S.)
- AlgaSpring B.V. · Netherlands
- Astaxa GmbH · Germany
Frequently asked questions
The Europe microalgae market is expected to reach $491.9 million by 2030, at a CAGR of 9.3% during the forecast period.
Cite this report
Meticulous Research. (2023). Europe Microalgae Market - Regional Opportunity Analysis and Industry Forecast (2023-2030) (Report No. MRFB - 104807). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/europe-microalgae-market-5491