Algal Pigments Market Projected to Reach $718 Million by 2032, Growing at 7.2% CAGR from 2025 | Meticulous Research®

REDDING, Calif., March 24, 2025 /PRNewswire/ -- According to a comprehensive new market analysis titled 'Algal Pigments Market by Type (Beta-Carotene, Astaxanthin, Phycocyanin), Form (Powder), Source (Microalgae, Macroalgae), Application (Food & Beverages, Nutraceuticals, Pharmaceuticals) - Global Forecast to 2032', published by Meticulous Research®, the global algal pigments market is forecasted to reach $718 million by 2032, expanding at a CAGR of 7.2% from 2025 to 2032.

Key Market Growth Drivers

• Several factors are propelling the expansion of the algal pigments market:
• Increasing consumer demand for natural food colorants
• Growing health consciousness among global consumers
• Expanding applications in pharmaceutical and nutraceutical sectors
• Stringent regulations limiting synthetic colorants
• Technological advancements in extraction methodologies
• Progressive research into new algal species

Despite these growth drivers, the market faces challenges including high production costs, cultivation instability, competition from synthetic alternatives, and scalability issues.

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Therapeutic and Nutritional Applications Driving Adoption

The surging utilization of algal pigments in therapeutic and nutritional applications represents a primary market growth catalyst. These naturally-derived compounds—including astaxanthin, phycocyanin, fucoxanthin, and chlorophyll—are experiencing unprecedented demand due to their superior bioactive properties.

In the clinical sector, algal pigments demonstrate remarkable antioxidant, anti-inflammatory, and immune-enhancing capabilities. Scientific evidence supporting their efficacy in addressing chronic conditions such as cardiovascular disease, inflammatory disorders, and certain cancers has accelerated pharmaceutical and nutraceutical product development, creating extensive market opportunities.

From a nutritional perspective, algal pigments are increasingly incorporated into functional foods, dietary supplements, and fortified beverages. Consumer preferences have decisively shifted toward natural alternatives to synthetic colorants and additives, driven by heightened health awareness and clean-label requirements. The dual functionality of these pigments as both natural colorants and bioactive compounds provides manufacturers with compelling value propositions.

Market momentum is further enhanced by innovations in extraction and stabilization techniques, which improve pigment yield, quality, and application versatility. Regulatory bodies worldwide increasingly recognize the safety profiles of these compounds, facilitating market access and expansion. With ongoing research revealing additional health benefits, algal pigments are positioned for sustained growth in global health and nutrition markets.

Recent Industry Developments

• January 2025: Algaia S.A. (France) introduced a new line of algal-derived natural food colorants with enhanced stability specifically formulated for beverage applications.
• November 2024: Cyanotech Corporation (U.S.) expanded its astaxanthin production capacity to meet growing demand in the nutraceutical and cosmetic sectors.
• September 2024: DIC Corporation (Japan) received FDA approval for its innovative phycocyanin extract for use in dairy products, expanding its North American market opportunities.
• March 2025: Kuehnle AgroSystems Inc. (U.S.) secured $3 million in a series A2 funding round led by S2G Venture.
• January 2025: AstaReal Co., Ltd. (Japan) introduced a rebranded version of its finished formulation, Astaxin, in Sweden and Norway.

Key Market Insights

By Type

Beta-carotene segment is projected to hold the largest market share of 22.3% in 2025, owing to its widespread applications across food, cosmetics, and dietary supplements as a natural colorant and antioxidant. Its preference stems from stability, high bioavailability, and established commercial production methods, particularly from microalgae like Dunaliella salina.

Phycocyanin segment is expected to register the highest CAGR during 2025-2032, driven by rapidly expanding applications in the food and beverage industry as a natural blue colorant. This growth trajectory reflects increasing consumer preference for natural food ingredients and growing regulatory restrictions on synthetic colorants. Extracted primarily from Spirulina, phycocyanin has gained significant traction by meeting clean-label requirements while providing vibrant coloration for various food products, beverages, confectioneries, and cosmetics. Its water-soluble properties and stability make it particularly valuable for manufacturers seeking natural alternatives to artificial blue dyes like Brilliant Blue FCF.

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By Application

Nutraceutical segment is expected to dominate with 38.2% market share in 2025, attributed to rising health consciousness, increasing prevalence of chronic diseases, aging populations, and growing demand for natural ingredients in dietary supplements. This segment is also projected to maintain the highest CAGR through the forecast period.

By Form

Powder segment will maintain the larger market share in 2025, owing to ease of handling, management, and product incorporation. Extended shelf life and enhanced stability reduce degradation risk over time, driving adoption across food and beverages, cosmetics, pharmaceuticals, and animal feed applications.

By Source

Microalgae segment will represent the majority of the algal pigments market in 2025, primarily due to the increasing prevalence of microalgae-derived products, growing consumer health and wellness trends, expansion of the dietary supplement industry, rising demand for natural food colorants, and rapid growth in the nutraceuticals sector.

Regional Market Analysis

Europe is expected to lead with 32.1% market share in 2025, driven by its substantial food and beverage industry, strict regulations prohibiting synthetic colorants, strong health and wellness trends, robust demand for natural colorants across various end-use markets, numerous algal pigment producers, and significant government focus on algae industry development.

Asia-Pacific is forecasted to achieve the highest CAGR throughout the projection period, fueled by increasing regional and local suppliers, growing consumption of natural food ingredients, supportive government initiatives promoting algae utilization, expanding demand for algal pigments in the food and beverage sector, and rising consumer preference for natural ingredients. Additionally, increasing adoption in cosmetics and nutraceutical industries is further accelerating regional market growth.

Competitive Landscape

The global algal pigments market exhibits moderate fragmentation, with several key players maintaining market dominance. Leading companies have implemented various strategies to broaden their product portfolios and strengthen market positions, primarily through product launches, expansions, mergers and acquisitions, agreements, collaborations, and partnerships.

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Key industry players include:

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

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Scope of the Report:

By Type

• Beta-carotene
• Astaxanthin
• Fucoxanthin
• Phycocyanin
• Phycoerythrin
• Lutein
• Chlorophyll
• Other Types

By Form

• Powder
• Liquid
• Other Forms

By Source

• Microalgae
• Spirulina
• Haematococcus Pluviallis
• Chlorella
• Dunaliella
• Other Microalgae
• Macroalgae
• Red Algae
• Brown Algae
• Green Algae

By Application

• Nutraceuticals
• Food & Beverages
• Beverages
• Bakery Products
• Confectionery Products
• Other Food and Beverages
• Aquaculture
• Pharmaceuticals
• Cosmetics
• Other Applications

By Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa

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