Press release
Europe Spirulina Market Projected to Reach $156.61 Million Valuation by 2030
Meticulous Research®, a globally renowned market research authority, has released a comprehensive report titled 'Europe Spirulina Market by Product Type (Powder, Tablets, Capsules, Flakes, Phycocyanin), Distribution Channel (Business Channel, Consumer Channel), Application (Nutraceuticals, Food & Beverages, Animal Feed, Cosmetics, Agriculture) - Forecast to 2030.'
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In terms of value, the Europe spirulina market is poised to reach an impressive $156.61 million by 2030, reflecting a robust Compound Annual Growth Rate (CAGR) of 13.3% from 2023 to 2030. Simultaneously, the market volume is anticipated to achieve 8,308.8 tons by 2030, exhibiting a commendable CAGR of 7.5% during the same period. The burgeoning growth of this market is fueled by the surge in health and wellness trends, the expanding food supplements industry, escalating demand for natural food colors, positive environmental impact associated with spirulina cultivation, stringent regulations on synthetic colors and flavors, a preference for spirulina-sourced products, and the rising adoption of spirulina in aquaculture.
Moreover, the increasing demand for phycocyanin and growing consumer awareness regarding clean-label products are expected to unlock significant growth opportunities for stakeholders in this market. However, challenges such as low awareness regarding the benefits of spirulina and complexities in algae production act as growth inhibitors. Notably, the adoption of innovative production technologies, specifically photobioreactors, emerges as a prominent trend in this market.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/europe-spirulina-market-5499
Europe Spirulina Market: Comprehensive Insights
The Europe spirulina market is meticulously segmented by product type, distribution channel, application, and geography.
Product Type Dynamics
In 2023, the powder segment is anticipated to dominate the Europe spirulina market, capturing the largest share. This dominance is attributed to the rising demand for spirulina powder among nutraceutical manufacturers driven by growing health consciousness among consumers. Additionally, the increasing incorporation of spirulina powder in various food and beverage products, the popularity of the vegan diet, and the growing use of herbal ingredients in cosmetics contribute to the segment's large market share.
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However, the phycocyanin segment is expected to witness substantial growth during the forecast period. This growth is fueled by increased adoption in the manufacturing of therapeutic and nutritional products, a shift away from synthetic colors, a rising demand for natural blue colorants, and substantial investments in phycocyanin from leading color houses.
Distribution Channel Dynamics
In 2023, the business channel segment is projected to account for the larger share of the Europe spirulina market. This is attributed to the direct procurement of large quantities of spirulina by nutraceutical, food and beverage, and animal feed manufacturers from the business channel. The segment is poised for significant growth during the forecast period.
Application Insights
In 2023, the nutraceuticals segment is expected to hold the largest market share in the Europe spirulina market. This dominance is driven by the flourishing nutraceutical sector, increasing health concerns among the aging population, a growing preference for natural alternatives to traditional pharmaceutical products, and heightened consumer awareness regarding the connection between nutrition and health. The segment is anticipated to experience substantial growth during the forecast period, driven by the rising demand for functional foods and an increased focus on preventive healthcare measures.
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Geographic Review
France is projected to account for the largest share of the Europe spirulina market in 2023. The country's growth is propelled by scientific and technological developments in microalgae research for dietary supplements, a heightened awareness among consumers for natural food products, increasing rates of chronic diseases, and stringent regulations against synthetic colors.
Key Players
Key players operating in the Europe spirulina market include DIC Corporation (Japan), E.I.D. - Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited) (India), C.B.N. Bio-Engineering Co., Ltd (China), Givaudan SA (Switzerland), Fuqing King Dnarmsa Spirulina Co., Ltd. China), Zhejiang Binmei Biotechnology Co., Ltd. (China), Cyanotech Corporation (U.S.), JIANGSHAN COMP SPIRULINA CO., LTD (China), TAIWAN WILSON ENTERPRISE INC. (Taiwan), Bluetec Naturals CO., LTD. (China), AlgoSource (France), Far East Microalgae Industries, Co., Ltd. (FEMICO) (Taiwan), Far East Bio-Tec. Co., Ltd. (FEBICO) (Taiwan), Necton S.A. (Portugal), YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD. (Yunnan Spirin Biotechnology Co. Ltd) (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan), Roquette Klötze GmbH & Co. KG (Germany), Tianjin Norland Biotech Co., Ltd (China), Allmicroalgae Natural Products S.A. (Portugal), Qingdao Haizhijiao Biotechnology Co., Ltd (China), BlueBioTech Group (Germany), Aliga Microalgae (Denmark), SPIFORM (France), Vedan Biotechnology Corporation (Taiwan), ALGALIMENTO SL (Spain), Aurospirul (India), Hangzhou OuQi Food co., Ltd. (China), Clos Sainte Aurore (France), Sea & Sun Organic GmbH (Subsidiary of Sea & Sun Technology GmbH) (Germany), Pond Technologies Inc. (Canada), Xi'an Fengzu Biological Technology Co., Ltd.(FZBIOTECH)(China), and Spirulina La capitelle (France).
For further details and a comprehensive market analysis, please refer to the complete report from Meticulous Research®. Download Free Research Sample @ https://www.meticulousresearch.com/download-sample-report/cp_id=5499
TOP 10 COMPANIES IN EUROPE SPIRULINA MARKET
https://meticulousblog.org/top-10-companies-in-europe-spirulina-market/
Spirulina Market by Product Type (Powder, Tablets, Capsules, Flakes, Phycocyanin), Distribution Channel (Business Channel, Consumer Channel), Application (Nutraceuticals, Food & Beverages, Animal Feed, Cosmetics, Agriculture) - Global Forecast to 2030
https://www.meticulousresearch.com/product/spirulina-market-5070
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