Press release
Europe Microalgae Market by Size, Share, Forecasts, & Trends Analysis
Meticulous Research®, a renowned global market research company, unveils its latest comprehensive research report titled 'Europe Microalgae Market.' This corporate-styled press release provides a detailed analysis of the market dynamics, trends, and growth prospects within the European microalgae sector.Download Research PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=5491
In the forecast period from 2023 to 2030, Meticulous Research® predicts that the Europe microalgae market is set to achieve a valuation of $491.9 million, reflecting a robust Compound Annual Growth Rate (CAGR) of 9.3% in terms of value. Concurrently, the volume is projected to reach 25,465.0 tons by 2030, with a CAGR of 8.3% during the same period.
The driving forces behind this market surge include the increasing focus on health and wellness, a burgeoning dietary supplements industry, elevated demand for natural food colors, rising vegetarianism, the expanding nutraceuticals sector, and a growing awareness of the benefits associated with microalgae. However, challenges such as limited awareness regarding the advantages of microalgae and the intricacies in the production processes of algae products are anticipated to impede market growth.
Despite these challenges, market opportunities arise from the escalating demand for phycocyanin, a heightened interest in microalgae within biorefineries, and the adoption of innovative production technologies, notably photobioreactors.
Speak to Analyst: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5491
The segmentation of the Europe microalgae market encompasses various factors such as type, category, production techniques, distribution channels, application, and geography.
Type Segmentation: The market is categorized into spirulina, chlorella, Dunaliella salina, Haematococcus pluvialis, Nannochloropsis, and other microalgae. Chlorella is anticipated to dominate the market in 2023, driven by health trends, dietary supplements, plant-based food consumption, and its widespread use in nutraceuticals. The Haematococcus pluvialis segment, however, is expected to exhibit the highest CAGR during the forecast period.
Category Segmentation: The market is classified into inorganic microalgae and organic microalgae. In 2023, inorganic microalgae is expected to hold the larger market share due to its traditional cultivation method and cost-effective production. Nevertheless, the organic microalgae segment is projected to witness the highest CAGR, driven by the increasing demand for certified organic products in the European food industry and the growing preference for natural food colorants.
Production Technique Segmentation: The Europe microalgae market is segmented into ponds, fermenters, and photobioreactors (PBR). Ponds are expected to dominate the market in 2023, but the PBR segment is anticipated to witness the fastest CAGR. This growth is attributed to the rising demand for algal biomass in the food and beverage industry, lower vulnerability to species contamination, higher productivity, and easier control of cultivation conditions.
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Distribution Channel Segmentation: The market is divided into consumer channel (B2C) and business channel (B2B). In 2023, the B2B segment is expected to lead, driven by direct bulk purchases by manufacturers in various industries such as nutraceuticals, food & beverage, and animal feed. The B2B segment is also projected to experience the highest CAGR during the forecast period.
Application Segmentation: The Europe microalgae market finds application in nutraceuticals, food & beverages, cosmetics, animal feed, and other sectors. The nutraceuticals segment is expected to dominate in 2023, while the food and beverages segment is projected to witness the fastest CAGR due to the increasing consumption of plant-based foods and the launch of microalgae-containing products.
Geographical Segmentation: The market is geographically segmented into France, Germany, the U.K., Italy, Spain, and the Rest of Europe. In 2023, Germany is expected to lead the market, followed by France and the U.K. The growth in Germany is attributed to high health supplement consumption, strict regulations against synthetic colors, subsidiary industries' growth, preference for natural protein sources, and the presence of key algae biomass manufacturers. France is anticipated to register the highest CAGR during the forecast period due to increased adoption of microalgae in therapeutic & nutritional product manufacturing.
Top 10 Companies Operating in Europe Microalgae Market: https://meticulousblog.org/top-10-companies-in-europe-microalgae-market/
Key Players:
Prominent players in the Europe Microalgae market include Fuqing King Dnarmsa Spirulina Co., Ltd. (China), DIC Corporation (Japan), E.I.D. - Parry (India) Limited (India), Cyanotech Corporation (U.S.), C.B.N. Bio-Engineering Co., Ltd (China), YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD. (China), JIANGSHAN COMP SPIRULINA CO.,LTD (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Zhejiang Binmei Biotechnology Co., Ltd. (China), Bluetec Naturals CO., LTD. (China), Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan), Sun Chlorella Corporation (Japan), Roquette Klötze GmbH & Co. KG (Germany), Vedan Biotechnology Corporation (Taiwan), AlgoSource (France), Tianjin Norland Biotech Co., Ltd (China), Allmicroalgae Natural Products S.A. (Portugal), Aliga Microalgae (Denmark), ALGALIMENTO SL (Spain), Hangzhou OuQi Food co., Ltd. (China), Far East Microalgae Industries, Co., Ltd. (Taiwan), BlueBioTech Group (Germany), Algatechnologies Ltd. (Israel), Far East Bio-Tec. Co., Ltd. (FEBICO) (Taiwan), A4f Algae for Future (Portugal), Archimede Ricerche Srl (Italy), Necton S.A. (Portugal), Reed Mariculture Inc. (U.S.), AlgaSpring B.V. (Netherlands), and Astaxa GmbH (Germany).
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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