European $490+ Million Microalgae Market to 2030: Rising Demand for Phycocyanin and Microalgae Among Biorefineries

DUBLIN, May 17, 2023 /PRNewswire/ -- The "Europe Microalgae Market by Type, Category, Production Technique, Distribution Channel, Application, and Geography - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

In terms of value, the Europe Microalgae Market is expected to reach $491.9 million by 2030, at a CAGR of 9.3% during 2023-2030. In terms of volume, the Europe microalgae market is expected to reach 25,465.0 tons by 2030, at a CAGR of 8.3% during the forecast period 2023-2030.

The growth of this market is driven by the increasing demand for algae protein, the rising need for protein-rich and lipid-rich aquafeed, and the growing demand for omega-3 fatty acids are driving the growth of the Nannochloropsis market.

In addition, the growing demand from the biodiesel industry creates lucrative growth opportunities for Nannochloropsis manufacturers in Europe. However, the complex production process of Nannochloropsis restrains the growth of this market to a certain extent.

Based on type, the Europe microalgae market is segmented into spirulina, chlorella, Dunaliella salina, Haematococcus pluvialis, Nannochloropsis, and other microalgae.

In 2023, the chlorella segment is expected to account for the larger share of the Europe microalgae market. 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.

Based on category, the Europe microalgae market is segmented into inorganic microalgae and organic microalgae.

In 2023, 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.

Based on production technique, the Europe microalgae market is segmented into ponds, fermenters, and photobioreactors (PBR).

In 2023, the ponds segment is expected to account for the larger share of the Europe microalgae market. 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.

Based on distribution channel, the Europe microalgae market is segmented into consumer channel (B2C) and business channel (B2B).

In 2023, 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.

Based on application, the Europe microalgae market is segmented into nutraceuticals, food & beverages, cosmetics, animal feed, and other applications.

In 2023, 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.

Based on geography, the Europe microalgae market is segmented into France, Germany, the U.K., Italy, Spain, and the Rest of Europe.

In 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.

Key questions answered in the report

• Which are the high-growth market segments in terms of type, category, production technique, distribution channel, application, and country/region?
• What was the historical market for microalgae across Europe?
• What are the market forecasts and estimates for the period of 2023-2030?
• What are the major drivers, restraints, challenges, opportunities, and trends in the Europe microalgae market?
• Who are the major players in the Europe microalgae market, and what are their market shares?
• Who are the major players in various countries, and what are their market shares?
• How is the competitive landscape for the Europe microalgae market?
• What are the recent developments in the Europe microalgae market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the Europe microalgae market, and how do they compete with other players?

Market Insights

Drivers

• Consumer Inclination Toward Health & Wellness Trends and the Growing Dietary Supplements Industry
• Rising Demand for Natural Food Colors
• Increasing Vegetarianism
• Growing Nutraceuticals Industry
• Increasing Preference for Microalgae-Sourced Products
• Increasing Awareness Regarding the Benefits of Microalgae

Restraints

• Low Awareness Regarding the Benefits of Microalgae
• Complexities In the Production of Algae Products

Opportunities

• Rising Demand for Phycocyanin
• Growing Demand for Microalgae Among Biorefineries

Challenges

• Contamination Risks
• Trends
• Growing Adoption of New Production Technologies (Photobioreactors)

Europe Microalgae Market: Value Chain Analysis

• Overview
• Inputs/Suppliers
• Cultivation and Processing
• Packaging, Storage, and Logistics
• Wholesalers and Distributors
• Algae-Based Product Formulators and Consumers

Europe Microalgae Market: Porter's Five Forces Analysis

Company Profiles

• Fuqing King Dnarmsa Spirulina Co. Ltd. (China)
• DIC Corporation (Japan)
• E.I.D. - Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited) (India)
• Cyanotech Corporation (U.S.)
• C.B.N. Bio-Engineering Co. Ltd (China)
• YUNNAN GREEN A BIOLOGICAL PROJECT CO. Ltd. (Yunnan Spirin Biotechnology 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 Klotze 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)
• A4f Algae for Future (Portugal)
• Archimede Ricerche Srl (Italy)
• Necton S.A. (Portugal)
• Reed Mariculture Inc. (U.S.)
• AlgaSpring B.V. (Netherlands)
• Astaxa GmbH (Germany).

Scope of the Report:

Europe Microalgae Market, by Type

• Spirulina
• Chlorella
• Dunaliella salina
• Haematococcus pluvialis
• Nannochloropsis
• Other Microalgae

Europe Microalgae Market, by Category

• Inorganic Microalgae
• Organic Microalgae

Europe Microalgae Market, by Production Technique

• Ponds
• Fermenters
• Photobioreactors

Europe Microalgae Market, by Distribution Channel

• Business Channel
• Consumer Channel

Europe Microalgae Market, by Application

• Nutraceuticals
• Food and Beverages
• Animal Feed
• Cosmetics
• Other Applications

Europe Microalgae Market, by Geography

• France
• Germany
• U.K.
• Italy
• Spain
• Rest of Europe

For more information about this report visit https://www.researchandmarkets.com/r/i7oxvh

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