Europe Haematococcus Pluvialis Market by Product (Astaxanthin Ingredients {Oleoresin, Beadlets}), Astaxanthin Bulk Finished Products {Capsules, Tablets}), Application (Nutraceuticals, Aquaculture, Cosmetics, Food), and Geography - Forecast to 2030

This report is executed in collaboration with the European Algae Biomass Association (EABA). Combining Meticulous Research®’ market intelligence services with EABA’s broad expertise in the development of research, technology and industrial capacities in the field of algae, the two organizations have leveraged their research capabilities to come up with the most reliable and accurate market assessments in this field.

The Europe Haematococcus Pluvialis Market is projected to reach $35 million by 2030, at a CAGR of 13.4% during the forecast period of 2023 to 2030. The growth of this market is driven by the increasing demand for natural astaxanthin for nutraceuticals, the growing demand for natural food colorants, and the increasing awareness of clean-label products. However, the high production cost is expected to restrain the growth of this market.

The rising demand for natural astaxanthin and the growing use of natural astaxanthin in poultry and aquaculture is expected to create market growth opportunities. However, the complex production process for haematococcus pluvialis is a major challenge for the players operating in this market. Additionally, the increasing need for self-grooming products is a prominent trend in the Europe haematococcus pluvialis market.

Growing Demand for Natural Food Colorants

Rapid use of artificial production sources to increase food production has led to various health hazards. Today, factors such as rising health consciousness and inclination toward environment-friendly products are boosting the demand for naturally grown food products worldwide. These factors have compelled food manufacturers to shift toward natural food colors to make their products more appealing to consumers.

Natural food colors are typically derived from sources such as algae, plants, animals, fruits, and insects and are commonly used as food additives due to their non-toxic or low-toxicity properties and minimal side effects. The therapeutic uses of natural food colors are also increasing due to these benefits. In addition, the European government supports the use of natural food colors because they are biodegradable and do not contribute to pollution when disposed of. As a result, several regulations have been passed in Europe that favor the use of natural food colors over synthetic ones, which is expected to further boost demand for natural food colors throughout the region.

According to Food and Drink Europe, the European food and beverage industry has a turnover of nearly USD 1.2 Trillion (EUR 1.1 trillion). The growth in the food and beverage industry is expected to drive the demand for astaxanthin derived from haematococcus pluvialis.

Artificial food color additives are linked to cancer. Also, some artificial food colorants are banned in Europe for food and beverage use. Moreover, increasing government support for encouraging the adoption of natural food colors in various food and beverage applications, increasing consumer preference for organic & clean-label products, and promoting health & wellness will continue to influence the demand for natural food colors across Europe.

Moreover, there are concerns about the safety of using synthetic astaxanthin for direct human consumption due to both different stereochemistry and potential carryover of synthesis intermediates. These concerns make natural astaxanthin derived from the haematococcus pluvialis microalgae a preferred choice for high-end markets. Haematococcus pluvialis has already been approved as a color additive in salmon feeds and a dietary-supplement ingredient for human consumption in several European countries. However, there is no EFSA (European Food Safety Authority) approval for therapeutic applications.

Supercritical CO2 extracts from haematococcus pluvialis have been granted novel food status by the U.K. Food Standards Agency (FSA). Thus, astaxanthin is a high-value product in the carotenoid marketplace and is also used as a pigmentation source for salmon, shrimp, trout, and poultry applications.

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Key Findings in the Global Haematococcus Pluvialis Market Study:

In 2023, the Astaxanthin Ingredients Segment is Expected to Dominate the Europe Haematococcus Pluvialis Market

Based on product, the Europe haematococcus pluvialis market is mainly segmented into astaxanthin ingredients and astaxanthin bulk finished products. In 2023, the astaxanthin ingredients segment is expected to account for the largest share of the Europe haematococcus pluvialis market. The large share of this segment is mainly attributed to the growing end-use applications of astaxanthin ingredients, rising awareness about preventive healthcare & nutraceuticals, rising demand for natural antioxidants, growing cosmetic & personal care markets, and government initiatives to support the aquaculture industry.

In 2023, the Nutraceuticals Segment is Expected to Dominate the Europe Haematococcus Pluvialis Market

Based on application, the Europe haematococcus pluvialis market is segmented into nutraceuticals, aquaculture and animal feed, cosmetics, food and beverages, and pharmaceuticals. In 2023, the nutraceuticals segment is expected to account for the largest share of the Europe haematococcus pluvialis market. The large market share of this segment is primarily attributed to the increasing demand for natural astaxanthin derived from haematococcus in the nutraceuticals industry. This demand is driven by the potential health benefits that astaxanthin may provide, including its effects on various diseases such as cancers, hypertension, diabetes, cardiovascular and gastrointestinal disorders, neurodegenerative diseases, and certain skin conditions.

However, the food & beverages segment is projected to register the highest CAGR during the forecast period of 2023–2030. The growth of this segment is attributed to the rising health awareness & food consciousness, growing demand for organic foods, rising use of natural food colors over synthetic, and increasing consumption of antioxidants in food & supplements.

Germany Dominates the Europe Haematococcus Pluvialis Market, While the U.K. Leads in Growth

Based on geography, the Europe haematococcus pluvialis market is majorly segmented into Germany, the U.K., Italy, France, Sweden, Spain, Russia, the Netherlands, Denmark, Poland, and the Rest of Europe. In 2023, Germany is expected to account for the largest share of the Europe haematococcus pluvialis market, followed by the U.K. and Italy. Germany’s major market share is attributed to the growing number of health-conscious consumers who are willing to pay premium prices for environmentally friendly and natural products. The German government has implemented education programs and media advertisements featuring healthy lifestyles and increasing body consciousness, further encouraging consumers to prioritize health and wellness products. As a result, food manufacturers are increasingly marketing their products as healthy options, resulting in a surge in demand for natural antioxidants and other healthy food ingredients. This trend has positively impacted the demand for haematococcus Pluvialis-derived products from various end-use industries.

However, the U.K. is expected to witness a significant growth rate during the forecast period, mainly due to its rapidly growing vegan population, people’s drive towards maintaining a healthy dietary regime, and the well-established F&B industry.

Key Players

The report offers a competitive analysis based on an extensive assessment of the leading market players’ product portfolios and geographic presence and the key growth strategies adopted by them in the last three to four years. The key players profiled in the Europe haematococcus pluvialis market research report are E.I.D. - Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited) (India), Cyanotech Corporation (U.S.), YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD. (Yunnan Spirin Biotechnology Co. Ltd) (China), Sun Chlorella Corporation (Japan), Roquette Klötze GmbH & Co. KG (Germany), Tianjin Norland Biotech Co., Ltd (China), Aliga Microalgae (Denmark), DAESANG Corporation (Korea), BlueBioTech Group (Germany), Algatechnologies Ltd. (A Part of Solabia Group) (Israel), AstaReal Group (Japan), BEIJING GINGKO GROUP (BGG) (U.S.), FENCHEM (China), PIVEG, Inc. (U.S.), Algamo s.r.o. (Czech Republic), Algalíf Iceland ehf. (Part of Sana Pharma Industries) (Iceland), Atacama Bio Natural Products S.A. (Chile), BDI BioLife Science GmbH (Austria), Sea & Sun Organic GmbH (Subsidiary of Sea & Sun Technology GmbH) (Germany), Pond Technologies Inc. (Canada), Algicel, Biotecnologia e Investigação, Lda (Portugal), and Astaxa GmbH (Germany).

Scope of the Report:

Europe Haematococcus Pluvialis Market—by Product

• Astaxanthin Ingredients 
  • Astaxanthin Oleoresin
  • Beadlets
  • Whole Biomass Powder
  • Water-dispersible Powder
• Astaxanthin Bulk Finished Products 
  • Capsules/Softgels
  • Tablets

Europe Haematococcus Pluvialis Market—by Application

• Nutraceuticals
• Aquaculture and Animal Feed
• Cosmetics
• Food & Beverages
• Pharmaceuticals

Europe Haematococcus Pluvialis Market—by Geography

• Germany
• U.K.
• Italy
• France
• Sweden
• Spain
• Russia
• Netherlands
• Denmark
• Poland
• Rest of Europe (RoE)

Key Questions Answered in the Report-