Europe Microalgae-Based Products Market Key Companies and SWOT Analysis by 2028
Europe Microalgae-Based Products Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Spirulina, Chlorella, Astaxanthin, Beta Carotene, and Others) and Application (Food and Beverages, Animal Feed, Pharmaceuticals and Nutraceuticals, Personal Care, and Others)
- Status : Published
- Report Code : TIPRE00025163
- Category : Food and Beverages
- No. of Pages : 111
- Available Report Formats :
- Last update date : October 11, 2021
2021 Market Size
US$ 520.26 Mn
Base year value
2028 Forecast
US$ 879.59 Mn
Projected by 2028
CAGR 2022-2028
7.8 %
Growth rate
Addressable Market
US$ 4,973.73 Mn
(2022-2028)
The microalgae-based products market in Europe is expected to grow from US$ 520.26 million in 2021 to US$ 879.59 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028.
Germany, France, Italy, UK, and Russia are economies in Europe. Currently, more than 150,000 species of single cell and multicellular algae are known, which have complex and diverse metabolic machinery, immense range of biotic and abiotic stress tolerance,. Researchers are actively involved in the identification and development of the best algal production systems that can be effectively used for commercially viable industrial production. Similarly, increased investments in research and development activities related to improved algal biomass production, using better cultivation methods, implementing advanced harvesting and biomass conversion technologies to cut down carbon emissions, deploying recycled inorganic nutrients, reducing energy inputs, and integrating algal biomass production systems with pre-existing infrastructure have been explored. The National Alliance for Advanced Biofuels and Bioproducts (NAABB) has succeeded to lower the cost of producing algal biomass and use it in production of biofuels. To achieve the economies of scale, companies have begun using robust and high-yield algal strains for a year-round consistent performance. Additionally, they have shifted their focus from “high-volume, low-value” products such as biofuel, food, or feed to “low-volume, high-value” products such as β-carotene, astaxanthin, docosahexaenoic acid, docosahexaenoic acid, phycobilin pigments, and algal extracts.
In Europe, currently France, the UK, and Russia are the worst-impacted countries by the COVID-19 pandemic. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in supply chain. As of July 26, 2021, the total number of cases recorded in Russia was 6,149,780 with 154,601 deaths. The massive outbreak of the pandemic has created temporary distortion in operation efficiencies of industrial bases in European market. The Europe Microalgae-Based Products market for microalgae-based products has been negatively impacted due to fluctuations in raw material sourcing and pricing, along with limited operational capabilities due to COVID-19 restrictions. However, shift in consumer lifestyle, rise in preference toward sustainable ingredients have substantially promoted the demand for microalgae-based products in the regional market. Further, several industrial bases such as food & beverages, pharmaceuticals and nutraceuticals, and animal feed are expected to flourish post pandemic, which has a direct correlation with the demand for microalgae-based products in the regional market.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the microalgae-based products market. The Europe microalgae-based products market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Europe Microalgae-Based Products Market Segmentation
Europe Microalgae-Based Products Market – By Product Type
- Spirulina
- Chlorella
- Astaxanthin
- Beta Carotene
- Others
Europe Microalgae-Based Products Market – By Application
- Food and Beverages
- Animal Feed
- Pharmaceuticals and Neutraceuticals
- Personal Care
- Others
Europe Microalgae-Based Products Market- By Country
- Germany
- France
- Italy
- U.K.
- Russia
- Rest of Europe
Europe Microalgae-Based Products Market-Companies Mentioned
- AstaReal
- Bluebiotech International Gmbh
- Cargill, Incorporated
- Cyanotech Corporation
- E.I.D. - Parry (India) Limited
- Earthrise Nutritionals, Llc
- Far East Bio-Tec Co., Ltd
Europe Microalgae-Based Products Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 520.26 Million |
| Market Size by 2028 | US$ 879.59 Million |
| CAGR (2021 - 2028) | 7.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
Recent Reports
Testimonials
The Insight Partners' SCADA System Market report is comprehensive, with valuable insights on current trends and future forecasts. The team was highly professional, responsive, and supportive throughout. We are very satisfied and highly recommend their services.
RAN KEDEM Partner, Reali Technologies LTDs
I requested a report on a very specific software market and the team produced the report in a few days. The information was very relevant and well presented. I then requested some changes and additions to the report. The team was again very responsive and I got the final report in less than a week.
JEAN-HERVE JENN Chairman, Future Analytica
We worked with The Insight Partners for an important market study and forecast. They gave us clear insights into opportunities and risks, which helped shape our plans. Their research was easy to use and based on solid data. It helped us make smart, confident decisions. We highly recommend them.
PIYUSH NAGPAL Sr. Vice President, High Beam Global
The Insight Partners delivered insightful, well-structured market research with strong domain expertise. Their team was professional and responsive throughout. The user-friendly website made accessing industry reports seamless. We highly recommend them for reliable, high-quality research services
YUKIHIKO ADACHI CEO, Deep Blue, LLC.
This is the first time I have purchased a market report from The Insight Partners.While I was unsure at first, I visited their web site and felt more comfortable to take the risk and purchase a market report.I am completely satisfied with the quality of the report and customer service. I had several questions and comments with the initial report, but after a couple of dialogs over email with their analyst I believe I have a report that I can use as input to our strategic planning process.Thank you so much for taking the extra time and making this a positive experience.I will definitely recommend your service to others and you will be my first call when we need further market data.
JOHN SUZUKI President and Chief Executive Officer, Board Director, BK Technologies
I wish to appreciate your support and the professionalism you displayed in the course of attending to my request for information regarding to infectious disease IVD market in Nigeria. I appreciate your patience, your guidance, and the fact that you were willing to offer a discount, which eventually made it possible for us to close a deal. I look forward to engaging The Insight Partners in the future, all thanks to the impression you have created in me as a result of this first encounter.
DR CHIJIOKE ONYIA MANAGING DIRECTOR, PineCrest Healthcare Ltd.Reason to Buy
- Informed Decision-Making
- Understanding Market Dynamics
- Competitive Analysis
- Identifying Emerging Markets
- Customer Insights
- Market Forecasts
- Risk Mitigation
- Boosting Operational Efficiency
- Strategic Planning
- Investment Justification
- Tracking Industry Innovations
- Aligning with Regulatory Trends
Get Free Sample for