Algal Pigments Market will reach $452.4 million by 2025: Meticulous Research®
Algal Pigments Market by Type (Beta Carotene, Astaxanthin, Fucoxanthin, Phycocyanin, Phycoerythrin), Application (Food and Beverages, Nutraceuticals, Aquaculture, Cosmetics, Pharmaceuticals), and Geography – Global Forecast to 2025.
pune, India – January 13, 2020 /MarketersMedia/ —
Meticulous Research® in its latest publication on Algal Pigments Market states that global algal pigments market is expected to grow at a CAGR of ~5-7% from 2019 to reach ~$200-300 million by 2025. The growth of this market is mainly driven by factors such as growing awareness about the health benefits of algal pigments, increasing awareness for clean-label products, rising demand for natural colorants, growing need to enhance the product appeal, and stringent regulations on the use of synthetic colors in food industry across the globe. However, factors such as high cost of natural colors, complex production of algae, and risk of algae contamination are expected to hinder the growth of the global algal pigments market to some extent. Due to problems associated with the harmful effects of synthetic colorants, exploitation of microalgal pigments as a source of natural colors becomes an attractive option. Moreover, the doubt on the successful commercialization of food grade pigments from microalgae is vanishing because of the biotechnological advancement and low capital investment.
To provide efficient analysis, Meticulous Research® has segmented this market on the basis of type (beta carotene, astaxanthin, lutein, phycocyanin, chlorophyll, fucoxanthin) and application (food & beverages, nutraceuticals, pharmaceuticals, aquaculture, cosmetics, others). The study also evaluates industry competitors and analyses the market at the regional and country level.
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In case of type, the global algal pigments market is segmented into beta carotene, astaxanthin, lutein, phycocyanin, chlorophyll, and fucoxanthin. Beta carotene is estimated to hold the largest share of the overall algal pigments market in 2019. The large share of this segment is mainly attributed to its growing use as a food coloring agent; pro-vitamin A (retinol) in food and animal feed; additive to cosmetics and multivitamin preparations; and health food product under the antioxidant category in various industries.
In case of application, the global algal pigments market is segmented into food & beverages, nutraceuticals, pharmaceuticals, aquaculture, cosmetics, and others. Food & beverages application is estimated to hold the largest share of the global market in 2019. The large share of this segment is mainly attributed to factors such as increasing consumer demand for plant-derived alternatives, stringent regulations against the use of synthetic colors in food products, and properties of algal pigments such as high nutritive value, eco-friendly nature, non-toxicity, and non-carcinogenicity.
Geographically, North America is estimated to command the largest share of the overall algal pigments market in 2019, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The large share of this region is mainly attributed to well established food and beverages industry, strict regulations against the use of synthetic colors, growth of subsidiary industries like cosmetics and aquaculture, health and wellness trends, and presence of key algae manufacturers with huge production capacities, especially in the U.S.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players operating in this market including Earthrise Nutritionals, LLC (U.S.), Cyanotech Corporation (U.S.), Zhejiang Binmei Biotechnology Co., Ltd. (China), Bluetec Naturals Co., Ltd (China), BlueBioTech Int. GmbH (Germany), Algatechologies Ltd. (Israel), E.I.D. – Parry (India) Limited (India), Tianjin Norland Biotech Co., ltd (China), AlgaeCan Biotech Ltd. (Canada), Heliae Development, LLC (U.S.), AstaReal AB (Sweden), Algae Health Sciences (U.S.), Sochim International S.p.A. (Italy), and Greenaltech SL (Spain).
Browse key industry insights spread across 150 pages with 57 market data tables & 21 figures & charts from the report: https://www.meticulousresearch.com/product/algal-pigments-market-5059/
Table of Contents:
1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Increased Adoption of Algal Pigments for Therapeutic & Nutritional Purpose
4.2.2. Reluctance Towards Usage of Synthetic Colors
4.2.2.1. Stringent Regulation on Synthetic Color Additives
4.2.2.2. Health Hazards Occurred Due to Synthetic Colors
4.2.3. Increasing Awareness for Clean-Label Products
4.2.4. Rising Demand for Natural Colorants
4.2.5. Growing Need to Enhance Product Appeal
4.3. Restraints
4.3.1. High Cost of Natural Colors
4.3.2 Complex Production Process for Algae
4.3.3 Risk of Algae Contamination
4.4. Opportunities
4.4.1. Growing Demand for Phycocyanin
5. Global Algal Pigments Market, By Type
5.1. Introduction
5.2. Beta Carotene
5.3. Astaxanthin
5.4. Fucoxanthin
5.5. Phycocyanin
5.6. Phycoerythrin
5.7. Lutein
5.8. Chlorophyll
6. Global Algal Pigments Market, By Application
6.1. Introduction
6.2. Food & Beverages
6.3. Nutraceuticals
6.4. Pharmaceuticals
6.5. Aquaculture
6.6. Cosmetics
6.7. Other Applications
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7. Algal Pigments Market, By Geography
7.1. Introduction
7.2. North America
7.2.1. U.S.
7.2.2. Canada
7.3. Europe
7.3.1. Germany
7.3.2. France
7.3.3. U.K.
7.3.4. Italy
7.3.5. Spain
7.3.6. RoE
7.4. Asia-Pacific
7.4.1. China
7.4.2. India
7.4.3. Japan
7.4.4. RoAPAC
7.5. RoW
7.5.1. Latin America
7.5.2. Middle East and Africa
8. Company Profiles
8.1. Earthrise Nutritionals, LLC (Part of DIC Corporation)
8.1.1. Business Overview
8.1.2. Financial Overview
8.1.3. Product Portfolio
8.1.4. Recent Developments
8.2. Cyanotech Corporation
8.2.1. Business Overview
8.2.2. Financial Overview
8.2.3. Product Portfolio
8.3. Bluebiotech Int. GmbH
8.3.1. Business Overview
8.3.2. Financial Overview
8.3.3. Product Portfolio
8.4. Zhejiang Binmei Biotechnology Co., Ltd.
8.4.1. Business Overview
8.4.2. Product Portfolio
8.5. Bluetec Naturals Co., Ltd
8.5.1. Business Overview
8.5.2. Product Portfolio
8.6. Algatechnologies Ltd.
8.6.1. Business Overview
8.6.2. Financial Overview
8.6.3. Product Portfolio
8.6.4. Recent Developments
8.7. E.I.D. – Parry (India) Limited
8.7.1. Business Overview
8.7.2. Financial Overview
8.7.3. Product Portfolio
8.8. Tianjin Norland Biotech Co., Ltd
8.8.1. Business Overview
8.8.2. Financial Overview
8.8.3. Product Portfolio
8.9. AlgaeCan Biotech Ltd.
8.9.1. Business Overview
8.9.2. Financial Overview
8.9.3. Product Portfolio
8.10. Astareal AB
8.10.1. Business Overview
8.10.2. Financial Overview
8.10.3. Products Portfolio
8.11. Algae Health Sciences
8.11.1. Business Overview
8.11.2. Financial Overview
8.11.3. Product Portfolio
8.12. Sochim International S.P.A.
8.12.1. Business Overview
8.12.2. Financial Overview
8.12.3. Product Portfolio
8.13. Shaivaa Algaetech
8.13.1. Business Overview
8.13.2. Financial Overview
8.13.3. Product Portfolio
8.14. BASF Corporation
8.14.1. Business Overview
8.14.2. Financial Overview
8.14.3. Product Portfolio
8.15. D.D. Williamson & Co., Inc.
8.15.1. Business Overview
8.15.2. Financial Overview
8.15.3. Product Portfolio
8.16. Chlostanin Nikken Nature Co. Limited
8.16.1. Business Overview
8.16.2. Financial Overview
8.16.3. Product Portfolio
9. Appendix
9.1. Questionnaire
9.2. Available Customization
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