What is the global market size of the Algal Pigments Market?

Global Algal Pigments Market size was valued at USD 1.02 billion in 2021 and is poised to grow from USD 1.07 billion in 2022 to USD 1.56 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).

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

Q: Who are the key vendors in the Global Algal Pigments Market?

The Global 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. '

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

Algal Pigments Market Dynamics

Algal Pigments Market Drivers

Its Rapid Adoption as Natural Dye to Boost Market Growth

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 global market.

Algal Pigments Market Restraints

Deadly Toxins to Hinder Market Growth during Forecast Period

Some red algae produce lethal toxins. Some green filamentous compose grass-green scum in ponds. Some diatoms cause diseases. The diatoms make domoic acid, a toxin that was concentrated in mussels. Likewise, Some Dinoflagellates produce neurotoxins that cause fish to stop breathing. Dinoflagellates who appertinent into the genus Alexandrium produce saxitoxins it causes paralytic shellfish poisoning. Also, Gambierdiscus toxicus causes ciguatera. Some water molds cause diseases of fish and terrestrial plants. Also, they cause diseases for vegetables and fruits. These factors will hinder its market growth.

Algal Pigments Market Report Snapshots

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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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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

Algal Pigments Market Dynamics

Algal Pigments Market Report Snapshots

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What is the market size of Algal Pigments Market?

Who are the key vendors in the Algal Pigments Market?

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