Global Haematococcus Pluvialis Market - 2022-2029

Market Overview

Haematococcus Pluvialis Market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 10.23% during the forecast period (2022-2029)

Haematococcus Pluvialis is used in a wide range of industries to produce high-value end products, including food and drink, nutraceuticals, pharmaceuticals, paints and colorants, fertilizer, and fuel. Haematococcus Pluvialis is useful and highly demanded in making finished products because of its lipids, algal proteins, hydrocolloids, and other components. The various types of microalgae or seaweed, including blue-green algae (BGA), red algae, and brown algae, are used to make practical products that are bursting with beneficial nutrients. Because it is plentiful, hardy, and affordable, green haematococcus pluvialis is frequently used in biological medications worldwide. For the treatment of diabetes, multiple sclerosis, and cancer, they are used in the production of pharmaceuticals, vitamins, vaccines, nutraceuticals, and other nutrients. Adopting haematococcus pluvialis to produce fish for cultivation and other livestock for aquaculture varieties is growing the market.

Market Dynamics: Growing demand for natural astaxanthin in nutraceuticals drives market expansion

A potential source of astaxanthin is the microalga haematococcus pluvialis. It is a carotenoid that accumulates in color and is an antioxidant during the red growth phase. Due to its increased antioxidant activity and therapeutic potential, astaxanthin derived from algae is frequently used in pharmaceutical applications. Recent studies have confirmed the vibrant red carotenoid's capacity to snuff out free radicals and lessen oxidative stress, correlating this action with benefits for cardiovascular health, recovery from physical exertion, and skin and joint health.

On the other hand, the consumption of healthy food items and dietary supplements has significantly increased worldwide due to the rise in chronic disease prevalence and people's changing lifestyles. One of the most important elements affecting market expansion is this. In addition, haematococcus pluvialis is frequently used to remove and transform pollutants from wastewater, including nutrients, heavy metals, and xenobiotics.

However, the market's growth rate will be slowed by the high production cost and climate's effect on haematococcus pluvialision. Furthermore, the consumption of algae-based prescription medicine products like chlorella, sun microalgae, and spirulina brought gastrointestinal, abdominal, and nauseous symptoms. This issue will limit the market's overall expansion for haematococcus pluvialis. Throughout the forecast period, the haematococcus pluvialis market will also face difficulties due to a lack of R&D activities in developing nations and awareness.

Market Segmentation: Astaxanthin bulk finished products segment accounted for the highest share in global global haematococcus pluvialis

Numerous microalgae, yeast, and bacteria contain the carotenoid pigment astaxanthin. A green microalga called haematococcus pluvialis produces a lot of astaxanthin when under stress, like when it's starved of nutrients or exposed to intense light. The released astaxanthin can be used as an ingredient in dietary supplements, functional foods and beverages, cosmetics, and pharmaceuticals when haematococcin cells are damaged.

On the other hand, astaxanthin is expected to grow in the market as a carotenoid pigment found naturally and is a member of the xanthophyll family. Algae and aquatic creatures like salmon, trout, krill, shrimp, and lobster contain it. These organisms are pink or red because of astaxanthin. The microalga Haematococcus Pluvialis is the primary commercial source of astaxanthin.

Geographical Penetration: The North America is the dominating region during the forecast period

North America is expected to grow during the forecast period. A significant portion of North America is primarily attributed to rising consumer awareness of the negative effects of chemical products and rising demand for natural food supplements. Additionally, several awareness campaigns by different organizations are predicted to increase the regional market share. For instance, the Natural Algae Astaxanthin Association (NAXA) is committed to spreading knowledge about the consumption of astaxanthin. The fact that haematococcus pluvialis algae are permitted for use as a component in dietary supplements in the United States and Canada is another important factor influencing the species' expansion in North America.

On the other hand, due to rising health consciousness, the expansion of the food and beverage and nutraceutical industries, the enormous demand for personal care products, and high investment in algae production, the Asia Pacific region is anticipated to grow at the fastest CAGR during the forecast period. Additionally, the growing government support for algae production in Asian nations presents significant opportunities for the region's various market participants.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major key players include Cyanotech Corporation, E.I.D. Parry, BlueBioTech, Algae to Omega, Tianjin Norland Biotech, AlgaeCan Biotech, AstaReal AB, Yunnan Alphy Biotech, Pond Technologies, Fenchem, and BDI-BioLife Science. During the forecast period, these are some key factors anticipated to propel the growth of the global haematococcus pluvialis market. For instance, in 2021, Lycored introduced in Branchburg, New Jersey, an oleoresin made from haematococcus pluvialis algae for soft gels and a microencapsulated starch beadlet, cold water dispersible microencapsulated solution for beverages, and dry mixes.

On the other hand, On July 27th, 2021 AstaReal, has launched NOVASTA, a pet food and feed ingredient rich in antioxidants, into the European market. On the other hand, on 2nd October 2020, Erber Group was purchased by Royal DSM for an enterprise value of €980 million. Royal DSM is a global science-based nutrition, health, and sustainable living company.

COVID-19 Impact: Positive impact on the global haematococcus pluvialis market

The abrupt COVID-19 pandemic outbreak prompted the implementation of strict lockdown regulations across many countries. In addition to dealing with the COVID-19 pandemic, the world is battling other health crises. The COVID-19 pandemic has had a significant impact on the haematococcus pluvialis market, emphasizing the significance of consumers' worldwide adopting secure, wholesome, and nutritive eating practices. A significant factor anticipated to fuel market growth is the preference of more health-conscious consumers for natural food coloring agents that have fewer side effects than other chemical products. As a result, the demand for the haematococcus pluvialis market has not affected by the universal pandemic.

The global haematococcus pluvialis market report would provide an access to approximately 53 market data tables, 44 figures and 97 pages.