Global Algal Pigments Market

Algal Pigments Market Size, Share, Growth Analysis, By Type(beta carotene, astaxanthin, fucoxanthin, phycocyanin), By Application(food & beverages, cosmetic & personal care, nutraceuticals, aquaculture), By Form(powder and liquid), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30A2008 | Region: Global | Published Date: February, 2024
Pages: 211 | Tables: 96 | Figures: 76

Algal Pigments Market Regional Insights

Europe region is estimated to command the largest share of the global algal pigments market, followed by North America. The large share of this region is mainly attributed to factors such as huge food and beverages industry, strict regulations against the use of synthetic colors, growing health and wellness trends large demand for natural colorants from various end-use industries, the presence of number of algal pigment manufacturers, and growing government focus on algae industry.

Asia-Pacific region is expected to witness a significant growth during the forecast period, mainly due to the presence of several local and regional players in this region, various government initiatives to promote the use of algae, growing consumption of natural food ingredients, and growing demand of processed food products in emerging and developing countries including India, China, Indonesia, and Thailand.

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Algal Pigments Market size was valued at USD 1.02 billion in 2019 and is poised to grow from USD 1.07 billion in 2023 to USD 1.56 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

The Algal Pigments Market Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio. 'Cyanotech Corporation', ' BASF SE ', ' Chr. Hansen Holding A/S ', ' Algatech LTD ', ' DIC Corporation ', ' Döhler Group ', ' Sensient Technologies Corporation ', ' E.I.D. - Parry (India) Limited ', ' Givaudan S.A. ', ' Kemin Industries, Inc. ', ' FMC Corporation ', ' Naturex SA ', ' Kalsec Inc. ', ' Royal DSM N.V. ', ' Far East Flora Holding Pte Ltd ', ' Phycocyanin Technologies LLC ', ' Algix, LLC ', ' Heliae Development, LLC ', ' AlgaeCan Biotech Ltd. ', ' Tianjin Norland Biotech Co., Ltd. '

This market growth is attributed to the increasing adoption of algae pigments for therapeutic and nutritional purposes. Strict synthetic paint regulations and dangerous health issues associated with the use of synthetic paints are creating resistance to the use of synthetic paints. The trend to use clean label products is boosting the demand for natural dyes. These factors are driving the demand for algal pigments in the market.

Market growth is attributed to the increasing adoption of algae pigments for therapeutic and nutritional purposes. Strict synthetic paint regulations and dangerous health issues associated with the use of synthetic paints are creating resistance to the use of synthetic paints. The trend use clean label products growing demand for natural dyes. There is an increasing need to improve the appearance of food, cosmetics and pharmaceuticals.

Europe region is estimated to command the largest share of the algal pigments market, followed by North America. The large share of this region is mainly attributed to factors such as huge food and beverages industry, strict regulations against the use of synthetic colors, growing health and wellness trends large demand for natural colorants from various end-use industries, the presence of number of algal pigment manufacturers, and growing government focus on algae industry.

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Global Algal Pigments Market

Report ID: SQMIG30A2008

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