Algal Pigments Market Size - By Type (Beta-carotene, Fucoxanthin, Lutein, Chlorophyll, Phycocyanin, Astaxanthin, Phycoerythrin), By Form (Powder, Liquid), By Source (Microalgae, Macroalgae/Seaweed), Application & Global Forecast, 2023

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List of Tables

Global Algal Pigments Market size will expand at 7.4% CAGR between 2023 and 2032, driven by the expanding application scope of algal pigments across the pharmaceutical and nutraceutical industries. Algal pigments have found applications in the pharmaceutical and nutraceutical industries due to their antioxidant and health-promoting properties. For instance, astaxanthin, a carotenoid pigment derived from microalgae, is used as a dietary supplement for its potential health benefits, driving market growth in this sector.

Additionally, the accelerating shift toward ethically sourced natural ingredients and increasing R&D efforts in the same direction will stimulate product demand. Quoting an instance, in February 2023, published research in Frontiers in Energy Research unveiled a method for growing microalgae biofilms within photobioreactors, enabling the production of commercially significant chemicals using wastewater as a resource.

The overall algal pigments market is categorized based on type, form, application, and region.

The beta-carotene segment will record a healthy growth rate from 2023 to 2032. The demand for beta-carotene pigments is primarily driven by the growing awareness of their health benefits, including their role as precursors to vitamin A, which is essential for vision and immune function. Additionally, the cosmetic and food industries utilize beta-carotene as a natural colorant and antioxidant, responding to consumer preferences for clean-label products. These factors, alongside the rising interest in natural and plant-based ingredients, continue to fuel the demand for beta-carotene pigments in various applications.

The pharmaceutical segment could dominate the algal pigments market share in terms of application through 2032. Algal pigments are gaining popularity in the pharmaceutical sector due to their rich nutrient content and antioxidant properties. These pigments, such as astaxanthin and phycocyanin, offer potential health benefits, including anti-inflammatory and antioxidant effects, making them valuable in the formulation of pharmaceutical products and supplements. Furthermore, their natural origin aligns with the increasing demand for clean-label and plant-based ingredients, enhancing their appeal in pharmaceutical applications.

Europe algal pigments industry is experiencing significant growth due to several factors. European consumers are increasingly seeking natural and sustainable ingredients, aligning with eco-friendly and health-conscious trends. Stringent regulations on synthetic additives and colors drive the demand for natural alternatives like algal pigments in food and cosmetics. Moreover, government initiatives and research investments in sustainable biotechnology further promote the development and adoption of algal pigments in the European market, fostering its growth.

Product Code: 6365

Chapter 1 Methodology & Scope

1.1 Industry coverage
1.2 Market scope & definition
1.3 Base estimates & calculations
- 1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at the global level
1.6 Data validation
1.7 Data forms
- 1.7.1 Primary
- 1.7.2 Secondary
  - 1.7.2.1 Paid forms
  - 1.7.2.2 Unpaid forms

Chapter 2 Executive Summary

2.1 Algal pigments industry 360 degree synopsis, 2018 - 2032
2.2 Business trends
2.3 Type trends
2.4 Source type trends
2.5 Form trends
2.6 Application trends
2.7 Regional trends

Chapter 3 Algal pigments Industry Insights

3.1 Industry ecosystem analysis
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Technological Advancements
  - 3.2.1.2 Sustainability and Environmental Concerns
  - 3.2.1.3 Nutraceutical and Cosmetics Industry Forms
- 3.2.2 Industry pitfalls & challenges
  - 3.2.2.1 High Production Costs
  - 3.2.2.2 Competition from Synthetic Colorants
  - 3.2.2.3 Shelf Life and Sensory Properties
3.3 Growth potential analysis
- 3.3.1 type
- 3.3.2 Source
- 3.3.3 Form
- 3.3.4 Application
3.4 COVID-19 impact analysis
3.5 Impact of Russia Ukraine war
3.6 Regulatory landscape
- 3.6.1 U.S.
- 3.6.2 Europe
3.7 Pricing analysis, 2022
3.8 Technology landscape
- 3.8.1 Future market trends
3.9 Porter's analysis
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Global company market share analysis, 2022
4.4 Competitive positioning matrix
4.5 Strategy dashboard

Chapter 5 Algal pigments Market, By Type 2018 - 2032

5.1 Key trends, by type
5.2 Beta-carotene
5.3 Fucoxanthin
5.4 Lutein
5.5 Chlorophyll
5.6 Phycocyanin
5.7 Astaxanthin
5.8 Phycoerythrin

Chapter 6 Algal pigments Market, By Form 2018 - 2032

6.1 Key trends, by form
6.2 Powder
6.3 Liquid

Chapter 7 Algal pigments Market, By source 2018 - 2032

7.1 Key trends, by form
7.2 Microalgae
7.3 Macroalgae/Seaweed

Chapter 8 Algal pigments Market, By Application 2018 - 2032

8.1 Key trends, by application
8.2 Food & Beverages
8.3 Pharmaceuticals
8.4 Cosmetics
8.5 Aquaculture
8.6 Nutraceuticals
8.7 Others

Chapter 9 Algal pigments Market, By Region 2018 - 2032

9.1 Key trends, by region
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 South Korea
- 9.4.6 Indonesia
- 9.4.7 Malaysia
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
9.6 MEA
- 9.6.1 South Africa
- 9.6.2 Saudi Arabia
- 9.6.3 UAE
- 9.6.4 Egypt

Chapter 10 Company Profiles

10.1 Algatech
10.2 Cyanotech Corporation
10.3 Naturex (part of Givaudan)
10.4 BASF SE
10.5 DIC Corporation
10.6 Sensient Technologies Corporation
10.7 Chr. Hansen Holding A/S
10.8 Doehler Group
10.9 FMC Corporation
10.10 Kemin Industries, Inc.
10.11 Valensa International
10.12 Parry Nutraceuticals (EID Parry India Ltd.)
10.13 Algamo s.r.o.
10.14 Algix, LLC
10.15 Givaudan S.A.