Europe Microalgae Market, By Product Type (Dunaliella Salina, Spirulina, Chlorella and Others), Microalgae Strain (Haematococcus Pluvialis, Phaeodactylum Tricornutum, Porphyridium Cruentum, Nannochloropsis and Others), Category (Organic and Inorganic), Form (Powder/Dry and Liquid), Grade (Food Grade, Feed Grade, Fuel Grade, Cosmetics Grade and Others), Application (Food & Beverage, Dietary Supplements, Pharmaceuticals, Cosmetics & Personal Care, Bio-Fuel, Inks, Animal Feed and Others), Distribution Channel (Indirect and Direct), Country (Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Rest of Europe) Industry Trends and Forecast to 2028
Europe microalgae market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.5% in the forecast period of 2021 to 2028 and is expected to reach USD 648.30 million by 2028. Increasing use of microalgae based product in nutritional and medicinal applications and growing up of new markets based on products derived from microalgal biomass are the major drivers which propelled the demand of the market in the forecast period.
Microalgae are microscopic algae which are also called single celled algae. They can either live in independently or in the form of colonies. These are photosynthetic microorganisms that reside in freshwater or salty water. According to their species, they can vary in size and shape whose size ranges from micrometers to hundred micrometers. The main function of microalgae is that it converts the sunlight, carbon dioxide and water into algal biomass.
The technological and scientific innovations and developments act as driver for the microalgae market growth. The factors associated with development of microalgae or biofuels driven from microalgae are at the higher cost which can hinder the microalgae market growth as the small companies will think to enter into production of the microalgae market. The rising investment in algae production acts as an opportunity for the growth of the microalgae market. The microalgae can be produced in highly controlled laboratories conditions but problems occur when production is done at large-scale which is the challenge and can hinder the microalgae market growth.
The Europe microalgae market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe microalgae market is segmented on the basis of the product type, microalgae strain, category, form, grade, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the microalgae market is segmented into dunaliella salina, spirulina, chlorella and others. In 2021, spirulina segment is expected to dominate as it is cultivated on large scale due to its extensive nutritional benefits.
- On the basis of microalgae strain, the microalgae market is segmented into haematococcus pluvialis, phaeodactylum tricornutum, porphyridium cruentum, nannochloropsis and others. In 2021, haematococcus pluvialis segment is expected to dominate as most of the market players are providing astaxanthin containing products and astaxanthin is extracted out from haematococcus pluvialis.
- On the basis of category, the microalgae market is segmented into organic and inorganic. In 2021, organic segment is expected to dominate as microalgae can easily grow over the organic nutrients, moreover organic carbon source are easily available.
- On the basis of form, the microalgae market is segmented into powder/dry and liquid. In 2021, powder/dry segment is expected to dominate due to the ease of getting several nutritional benefits from powder/dry form of microalgae and the efficiency of powder/dry form to easily get blended with several types of products used for different applications.
- On the basis of grade, the microalgae market is segmented into food grade, feed grade, fuel grade, cosmetics grade and others. In 2021, food grade segment is expected to dominate due to increasing awareness among consumers about the health benefits of microalgae products and presence of high quantity of vitamins, beta-carotene, and proteins among others in microalgae.
- On the basis of application, the microalgae market is segmented into food & beverage, dietary supplements, pharmaceuticals, cosmetics & personal care, biofuel, inks, animal feed and others. In 2021, dietary supplements segment is expected to dominate because of increasing demand of plant-based dietary supplements due to increasing prevalence of infectious diseases.
- On the basis of distribution channel, the microalgae market is segmented into indirect and direct. In 2021, direct segment is expected to dominate the global microalgae market as it provides high quality microalgae products at an efficient cost.
Europe Microalgae Market Country Level Analysis
Microalgae market is analyzed and market size information is provided by the country, product type, microalgae strain, category, form, grade, application and distribution channel as referenced above.
The countries covered in the microalgae market report are the Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, and Rest of Europe.
Direct segment in the Europe region is expected to grow with the highest growth rate in the forecast period of 2021 to 2028 because of development of sustainable and green alternative bioenergy sources. The U.K. is leading the growth of the Europe market and direct segment is dominating in this country due to rise in innovation and industrial development in this region. France if the fastest growing segment in this region due to rising awareness towards the natural products.
The country section of the Europe microalgae market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Technological and Scientific Innovations and Developments and Growing Up of New Markets Based on Products Derived from Microalgal Biomass are Boosting the Market Growth of Microalgae
Microalgae market also provides you with detailed market analysis for every country growth in Microalgae industry with microalgae drugs sales, impact of advancement in the microalgae technology and changes in regulatory scenarios with their support for the microalgae market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Microalgae Market Share Analysis
Microalgae market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Europe microalgae market.
The major companies which are dealing in the Europe microalgae market are Cellana Inc., DSM, BIOPROCESS ALGAE, LLC., Cyanotech Corporation, Henry Lamotte Oils GmbH, Algaecytes, Algatech LTD, Lyxia, BASF SE, Corbion, ALGISYS LLC, AlgaEnergy, AstaReal AB among others.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the microalgae market.
- In October 2020, Corbion has expanded the adoption of AlgaPrime DHA in collaboration with Thai Union. AlgaPrime DHA is an omega-3 rich algal feed ingredient derived from microalgae. As per the partnership the company will provide AlgaPrime DHA to Thai Union for feeding of large scale fish population. This collaboration helped the company to earn a lucrative growth in the market.
- In September 2018, Cellana Inc. had conducted a trial along with Thai Union Feedmill who was assisted by Algal Solutions LLC. The trial was based on the large-scale shrimp feeding using the feed formulated along with algae biomass. Cellana Inc. Had supplied the ReNew Feed algae from their KDF and Thai Union Feedmill which had developed the algae meal and conventional shrimp feed. The results were disclosed which showed a successful results in the first trial. This development helped the company to increase the sale of their product as it was decided to start the second trial to start the production in future.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company market in the microalgae market which also provides the benefit for organization to improve their offering for microalgae.
Customization Available: Europe Microalgae Market
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