Microalgae Products Market in Europe to Reach US$ 1.6 Bn by 2031; TMR Study

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ALBANY, N.Y., March 11, 2022 (GLOBE NEWSWIRE) -- Rapidly growing use of microalgae products in health-promoting food and feed, dietary supplements, pharmaceutical, and cosmeceutical preparations pivots on a broad range of therapeutic properties microalgae derived peptides possess. Growing popularity of microalgae as bioactive peptides has spurred interest among cosmetic industry players. The europe microalgae products market is projected to reach valuation of reach US$ 1.6 Bn by the end of 2031, advancing at CAGR of 5.7% during the forecast period (2021–2031).

Several species of microalgae continue to stir R&D among companies developing plant-based proteins used for food and feed, due to the high protein content, thus leading to incredible revenue potential in the Europe microalgae products market. In addition to proteins, microalgae products are a source of polyunsaturated fatty acids, carbohydrates, essential minerals, and vitamins, which has spurred the utilization of the species in nutraceuticals.

Besides nutraceuticals, microalgae products have risen in consumption in animal feed. Indeed, the analysts at TMR have found that the animal feed segment in the Europe microalgae products market is anticipated to garner a CAGR 7.2% during the forecast period.

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Chlorella species has risen in popularity in the Europe microalgae products market as it contains well-balanced amino acid profiles. During the COVID-19 pandemic, algal derived bioactive metabolites have been generating R&D interest as promising therapeutics for the treatment of SARS-CoV-2 and the like viruses, opening new frontiers in the Europe microalgae products market.

Key Findings of Europe Microalgae Products Market Study

  • Incorporation Into Innovative Food Products to Open Up New Frontiers in Dietary Supplements: The Europe microalgae products market is witnessing lucrative avenues on the back of growing promise of bioactive compounds in novel food products. Extensive research has been made in safety of novel protein sources in dietary supplements and nutraceuticals, which has fueled the revenue possibilities, assert the analysts at TMR in a study on the Europe microalgae products market. The increasing utilization of Chlorella-sourced product in novel nutraceuticals is due to the presence of essential amino acids.

    On the other hand, focus of producers on achieving improving the economy of scale for microalgae cultivation and processing will expand the avenue of commercialization of microalgae products in Europe and globally.

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  • Massive Uptake as Protein Source in Feed Industry Enriching Revenue: In Europe, the demand for plant-based proteins for livestock nutrition has spurred market prospect for microalgae and microalgae-derived products. Rise in utilization as a protein ingredient of feed in aquaculture has bolstered sales in the Europe microalgae products market. Plant-based sources such as microalgae are gaining popularity due to lower health and environmental impact than animal-based protein in the food and feed industries.
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Europe Microalgae Products Market: Key Drivers

  • Relentless search for sustainable food solutions for world's population has intensified R&D in sustainable alternative protein sources. This has underpinned the evolution of algal-based food industry, spurring research in multiple microalgae species, thus driving the Europe microalgae products market.
  • Favorable regulatory outlook in Europe pertaining to novel food product has galvanized R&D into the safety of ingredients in the market.

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Europe Microalgae Products Market: Lucrative Countries

  • The U.K. has been a prominent country market in Europe microalgae products market, mainly due to substantive production of these products over the years.
  • The Nordic countries are presenting vast lucrative avenues. The analysts at TMR have projected the valuation of the regional market to expand at a CAGR of 7.8% during the forecast period. Growing R&D in innovative food products for human health and feed industry has catalyzed the revenue growth.        

Europe Microalgae Products Market: Key Players

Some of the key players in the Europe microalgae products market are Sun Chlorella Corporation, Arizona Algae Products LLC, Cyanotech Corporation, Algatechnologies Ltd., Monzón Biotech, NOW Health Group, Inc., Divi's laboratories Ltd., Beijing Gingko Group, Allmicroalgae Natural Products S.A, Chr. Hansen Holding A/S, Naturex S.A., DIC Corporation, and DSM N.V.

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Europe Microalgae Products Market: Segmentation

Europe Microalgae Products Market by Product Type

  • Chlorella
  • Spirulina
  • Nannochloropsis
  • Astaxanthin
  • B-Carotene
  • PUFA
  • Lutin
  • Others

Europe Microalgae Products Market by Form

  • Powder
  • Flakes
  • Tab/Cap
  • Paste

Europe Microalgae Products Market by End Use

  • Food & Beverage Processing
    • Bakery & Confectionery
    • Meat Products
    • Dairy & Desserts
    • Sauces, Dressings and Condiments
    • Snacks
    • Beverages
    • Others
  • Pharmaceuticals
  • Nutraceutical
  • Cosmetics & Personal Care
  • Animal Feed
  • Aquaculture
  • Other Industrial Applications (Biofuel, etc.)

Europe Microalgae Products Market by Distribution Channel

  • Business to Business
  • Business to Consumers
    • Hypermarkets/Supermarket
    • Convenience Stores
    • Specialty Stores
    • Online Retails

Europe Microalgae Products Market by Country

  • U.K.
  • Spain
  • France
  • Italy
  • Germany
  • BENELUX
  • Nordic
  • Russia
  • Poland
  • Rest of Europe

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